My Work by Jim the Realtor | Aug 6, 2009 | About the author, Thinking of Buying?, Thinking of Selling? | 52 comments This youtube video tour was taped a couple of weeks ago – and pertains to the area known as Del Mar Heights, west of the I-5 freeway in 92014: Here are today’s comps for the entire area, not just the streets mentioned in the video: dmheightscma1 52 Comments Mozart on August 6, 2009 at 8:09 am JtR- what do you think this house would get if it wasn’t next to a school playground? François Caron on August 6, 2009 at 8:17 am I used to live next to a school. The kids make for a great alarm clock! 🙂 3clicks from da beach on August 6, 2009 at 9:23 am I would say there is a 50K – 100K premium to not live near the school. It’s Del Mar and the price is higher so the numbers have to be a bigger. Still, my 1.75x – 2x methodology applies on the zip code upgrade. A similar house target range in Encinitas would be 700 – 800K. sdnerd on August 6, 2009 at 9:36 am That really is a great view, especially if they open up that wall and upgrade the deck. Some of the best beaches in Del Mar just a few minutes away. Too bad there aren’t a lot more of these; it would greatly help to squish down the prices in Carmel Valley/etc. The school is a little close… but if you had kids that eventually went there, you’d be looking at a couple of REALLY convenient years! 🙂 Jim the Realtor on August 6, 2009 at 9:43 am 3clicks, Love your optimism! If a 3,600sf house with full ocean view in Encinitas comes on the market for $800,000, it’ll draw a crowd. KBoy on August 6, 2009 at 10:10 am Jim, which regular working guys pull in 300-400K? Or did you mean regular working guys who happens to be a trust fund babies as well. Jim the Realtor on August 6, 2009 at 10:22 am Here we go again. I’ve already deleted two, and I don’t like that one either. “Regular working guys”, meaning people who are work during the day aren’t going to feel the impact of parents waiting in line in their cars to pick up their kids next door at the school. It’s a disclosure item – cars line down the street for an hour before school gets out. But if you are at work, no problem. “Regular working people” isn’t describing the buyers’ pay scale, it refers to scheduling. François Caron on August 6, 2009 at 10:34 am Hmm. It’s true that I didn’t have to worry about traffic line-ups. My previous home and the school were located in a dense residential area of Montreal. Most of the kids WALKED to school! So how many cars should we expect in that neighbourhood? And what about the amount of pollution generated from all those cars left running idle? JimB on August 6, 2009 at 11:00 am Wow- dude you’re losing your cool. It is a public blog. If you don’t like what people have to say you’ll kill this blog. JimB on August 6, 2009 at 11:07 am And Jim do recall the overwhelming majority of people will think that house is crazy at it price. Even at half off many folks wouldn’t dare. Your a realtor so for you it’s just business. Not so for many o your readers. propertysearch on August 6, 2009 at 11:13 am LOVE that view!!! This home is a GREAT value. I would take a $500,000 discount and that view any day and deal with the school. That is a prime area. The school lines of cars are real. I sat in one a few times a week last year. People in my community post signs telling people they can’t pick up their kids using their neighborhood. I can only laugh. MB Mike on August 6, 2009 at 11:17 am JimB, Do us all a favor and read your posts prior to hitting “send”. By the way, in addition to many other typos, “you’re” is a contraction of the words “you” and “are” And, I for one applaud Jim for screening commentary that’s not relevant. Geotpf on August 6, 2009 at 11:32 am The school traffic jams are a major problem if you have to leave/come back to your house at the same time as they occur; not a problem if you don’t. I wonder how many people buy a house and don’t realize this until they move in and find they can’t back out of their driveway in the morning because there’s a three block traffic jam every day for the same half an hour they have to leave the house to go to work. 3clicks from da beach on August 6, 2009 at 11:50 am There is a school down the street from me. Luckily, I have a few ways around it. If you are caught snoozing and make the wrong turn at the wrong time it can be a pain – but nothing a u-turn can’t fix (culdesac not withstanding). Jim the Realtor on August 6, 2009 at 11:58 am Your a realtor so for you it’s just business. Not so for many o your readers. So we’re clear – this blog is my place of business, not a public playground where commenters can say whatever they want, no matter how disruptive. Somehow the “snark” factor has evolved into “anything goes”, including being critical of me or my actual or potential clients. I’ll ask you nicely to not disrupt my business. I don’t think that is asking too much. JimB on August 6, 2009 at 12:04 pm I see. You really ought to disclose that so as not to confuse this to be a place where people can openly and honestly discuss the Southern CA real estate bubble and it’s collapse. Pardon my ignorance, I assure you it won’t happen again. Jim the Realtor on August 6, 2009 at 12:08 pm Now you’re being a jerk. It has always been a place where people can openly and honestly discuss the Southern CA real estate bubble and it’s collapse. Daniel on August 6, 2009 at 12:11 pm I walk/drive/bike through this area very often (I live nearby). It’s amazing how many “for sale” signs there can be. There are yet more on the north side of Del Mar Heights Road, along I believe it’s called Crest Road and down towards the Del Mar village center. Something’s gotta give. FreedomCM on August 6, 2009 at 12:14 pm Don’t feed the trolls! There are plenty of discussion spaces more relevant to talking about ‘what ought to be’ they can inhabit. I’m happy that Jim shares his thoughts about ‘what is’ honestly, and happy too that he deletes, sparing me from troll drivel. François Caron on August 6, 2009 at 12:22 pm Just how far do these kids live from their schools that they have to be driven to the place each and every day of the week? What ever happened to buses? Or bikes? Jim, please give JimB a wedgie. 🙂 LV Res on August 6, 2009 at 12:26 pm Long time reader, occasional poster. JTR, please keep up the active monitoring… it is what separates your blog from others like Piggington that more often than not disolve in to trash-talking and seeing who can out-whit who. I will stop reading if that happens here. Jim the Realtor on August 6, 2009 at 12:36 pm Thanks for the support! I’m getting positive emails too. I’m going to be away this afternoon, so let’s take it easy! vegas nrba on August 6, 2009 at 12:41 pm There are always two sides to every story. I think they are both right. This is Jims place of buisness- however the blog is in the public domain . You would kind of have to expect some discussions and rants especially considering the topics involved. But with that said it is Jim’s blog. But as with everything- just because Jim , you or myself have an opinion- does make that opinion right. Everyone has a opinion – some are educated , some a guess, some not educated. But usually that is what blogs are for- a open discussion of topics posted and views on those topics. Liane on August 6, 2009 at 12:56 pm I don’t think Jim is discouraging opinions – even those that he disagrees with. He’s only discouraging people from being rude and insulting, which I am thankful for. There are plenty of ways to state dissenting opinions without being rude or insulting, public domain or not. Aztec on August 6, 2009 at 1:01 pm First, the buyer of that $3 mil pad needs to slap his neighbors around — basketball hoops in plain sight???!!!! Re: the Comp Killer (wasn’t that a rap song?)… my bid? $0.00. That school is an eyesore that ruins the view (which is pretty modest anyway). Did I see a kitchen UPstairs? No wonder it’s killin’ comps — it’s terrible! sdnerd on August 6, 2009 at 1:01 pm “It’s amazing how many “for sale” signs there can be … Something’s gotta give.” Here’s a related story to lighten the mood. Last weekend in Carmel Valley I drove down a street with 4 houses for sale. I could flick a rock with my pinky finger and hit each for sale sign. One of them was an open house, so I went inside. The Realtor was a young girl, early 20’s, extremely attractive, and dressed to kill. New marketing tactic maybe? She asked me how much I was looking to spend. I gave her a number, that turned out to be about 5% under asking price (which I did not know at the time). That was the entirety of our conversation, nothing else was said. Her response? A very rude comment to the tune of you can’t afford this house. The comment alone floored me, but the fact that it was over 5% just about keeled me over. Something has got to give alright! 🙂 My palm print mark from my forehead still hasn’t completely faded away yet. KKertzman on August 6, 2009 at 1:38 pm Any idea on what happened to the gardens project on 10th st. in del mar???b After going to the people for a vote and getting approved, it now looks like it has been shelved or they are trying to sell the land? It would be great to see a “piece” on that. Just curious! JordanT on August 6, 2009 at 1:59 pm I think they are both right. This is Jims place of buisness- however the blog is in the public domain . This is not the public domain, this is Jim’s website. If you were to copy it, I believe Jim could sue you for copyright infringement. You know why else it is? He can delete, ban or even take down the comments completely. Just because he invites us over to his place, does not give us the right to say whatever we want. The best analogy is that Jim has invited us over to his house for cocktails to discuss real estate. Just because he’s nice enough to do so, doesn’t mean we get to abuse the privilege with no consequences. JK on August 6, 2009 at 2:01 pm Jim, That’s a fantastic price! Great job on landing this. I am guessing these deals are exception, not the rule. Anything else like this in the hopper? Thanks! CA renter on August 6, 2009 at 2:54 pm We all have our opinions. It’s just a matter of being friendly and considerate of other people’s feelings. I’m a long-time bear and one of the original readers/posters on this blog, but still have to respect that it’s Jim’s place, and consider what’s appropriate, given the nature of his blog. Local Boy on August 6, 2009 at 3:11 pm This house is a prime example why some people feel that Encinitas and Carlsbad are reasonably priced! Mozart on August 6, 2009 at 4:07 pm Don’t let it get to you JtR. Do what you think is right. Because, you are right. To those who think of this as a public domain and want to let just anything fly, why don’t you put your real name at the bottom of your comments? Susie on August 6, 2009 at 5:02 pm Just my two cents, but this is Jim’s place of business. At the top of the page, it clearly states: “Klinge Realty” with “Jim’s Listings” below. I like Jordan T’s analogy. I feel incredibly lucky that Jim’s invited me over for cocktails (cold, crisp Heineken, please!) What I like is Jim’s generosity to share what’s really happening “on the ground”. He’s different than many realtors who drone on incessantly: “It’s a great time to buy!” And his sense of humor always makes me chuckle. I only wish I had discovered Jim sooner. It wasn’t ’till the LA Times article a few months ago that I even knew a realtor like Jim existed. Anyone who’s interested in real estate or a buyer or a seller should make bubbleinfo a daily stop. I know I do. Keep up the awesome work, Jim! 4s Renter on August 6, 2009 at 5:54 pm I would take that location and view and the 75K (give or take) in upgrade costs over a new home in CV with MR any day. But I dont have that kind of loot, yet. W.C. Varones on August 6, 2009 at 5:59 pm Del Mar is losing young families and looking at closing schools. They might get lucky and have the school shut down. justme on August 6, 2009 at 6:24 pm I looked at a house on Boquita in 1999. It was in rougher shape, had no view, and sold in the high 600s back then. I don’t understand people like JimB. You don’t want to pay for a house in Del Mar? Then don’t. propertysearch on August 6, 2009 at 8:07 pm Aztec- I know my San Diego views and that was a cloudy day through a tiny video camera. Go there in the evening on a clear day and that would be a sweet view. The sunset over those cliffs is beautiful. So there is a school next door. Talk about seeing the glass half full. It not the prettiest thing but I could never let that over take the beauty of that sunset. Realist on August 6, 2009 at 9:31 pm Jim – Love your videos. I got sucked in a couple of days ago when another blogger posted some of your fine camera work. Nice truck too, like your style. I just can’t resist commenting though. Having been born and raised in San Diego and now living elsewhere, I gotta say . . . well, let’s see . . a lot of people I’ve met there are not very cultured and I don’t think they’ve traveled much. I mean, come on these prices are still ridiculously inflated! Over $1MM for a little peak-a-boo I see ocean over the schoolyard view. Not to mention some of the other places in North SD you’ve highlighted Or that crap in Chulajuana Wow, what low expectations people have in San Diego. You know what you can get in other parts of the world for that kind of money? Well I’m sure you do, cause you make good coin pimpin’ southern CA real estate. And I mean that with high sincerity and respect! At least you know your market, have experience, and seem like a straight up dude. But anyway, back to my point. (Yes I have one.) I (or anyone) can buy some great property if that’s what floats your boat, and still have money left over to live well in many other parts of the world. Real ocean views, great food and wine, true architecture . . I guess I’m just shocked that people are still laying the money down. Where do they get the dough BTW? With CA state taxes going up all the time and the state deficit out of control, real unemployment (not those fake government reports) going higher, not to mention what’s going on, on a national level and then you’ve got border/imigration issues . . . should I keep going? I guess I would conclude by saying LOOK OUT BELOW. Cause, what seems like a good deal today could turn out to be a very bad mistake in the future. Thanks for letting me post. “I’m the Realist” 4runner on August 7, 2009 at 1:41 am Having grown up next to a combined middle/high school, it is great for kids. My buddies always stopped by on their way home to throw a ball, grab a snack, or shoot the ___. Also– my mom was friends with the mother of the girl I had a crush on for about three years. The girl was 2 years older than me. Whenever her mom was working late, the girl always came by to visit. I’d actually pay a premium for my kids to have the same opportunities that I did. doug s on August 7, 2009 at 8:22 am JTR, Wish you’d stopped by on the way home, we would’ve enjoyed showing you a REAL “moneypit”. Next time, maybe. p.s. we’re loving EVERY minute of it! Blissful Ignoramus on August 7, 2009 at 9:12 am The right price of a house is what people at a given point in time are willing to pay for it. For that house, in that context, $1.1 million is a great deal. I think Jim supported that argument very well in the video. The broader question of whether it makes sense for that house to cost that much is something very different. As another former Californian who lives in a place with much cheaper real estate, it seems unreal that it takes $1.1 million to get you that house, even as we are in the midst of a highly deflated housing bubble. But it IS real, in that place, in that time. In Del Mar Heights, on 07 Aug 2009, $1.1 million appears to be a very good deal. Jim doesn’t decide what price is good or bad, the market does. The Blur on August 7, 2009 at 9:14 am “Where do they get the dough BTW?” It’s reassuring to see someone with an outsider’s perspective ask the same question I do. I often think to myself, “everyone else is crazy.” This scares me though, because it sounds like something a crazy person would say. I get worried sometimes and wonder if one day I’ll wake up and realize I’m the moron. Jim, great to see some Del Mar coverage. I’ve said in the past it’s almost not even worth discussing because it’s so out of whack. This house doesn’t change my mind yet, but it’s nice to see significant price drops. Nice work! As for the school, for me that’s a 100% dealbreaker – whether I’m working a regular 9 to 5 or not. The Blur on August 7, 2009 at 9:26 am “Del Mar is losing young families and looking at closing schools.” THIS, to me, is a VERY significant point. With coastal prices the way they are, what will the demographics look like? I have to think it’s mostly elderly people who are holding on to their homes, or people who are priced in and will be stuck there for a long time. I don’t foresee a lot of turnover, and possibly not a lot of upkeep. Going through elementary school in Cardiff in the early 80’s, these coastal communities were loaded with young families and children. Carmel Valley and most of La Costa didn’t even exist, of course. Now it seems this is where the younger families go. Will Del Mar, Solana, Cardiff, La Jolla always be the most widely desirable places to live? What happens when long-time owners pass their homes through their estate – will there be a new wave of younger people, or will coastal areas start to look more like retirement communities? KBoy on August 7, 2009 at 9:33 am On the subject of schools in North County, why don’t most of them provide transportation? When I moved here I couldn’t believe I would have to chop my day into pieces based on dropping off/picking up the youngsters. To be the “richest/best area” blah, blah, blah, this seems ridiculous. When I tell friends and relatives in other places about the absurd rent I pay, but then I have to be available to transport my kids back and forth because the school is too cheap, they think I’m nuts. propertysearch on August 7, 2009 at 9:51 am 4 Runner summed it up beautifully! As a mom with kids living next to a school would be a dream. It is like being able to walk to work after enduring a 1 hour commute stuck in the school traffic jam. Coupled with the fact that you actually get to know the kids that go to your school. The Blur also brings up a great point. Will coastal areas start to look more like retirement communities? IMHO these already are retirement communities. We moved from La Jolla for this exact reason. I felt like I was raising my kids in a retirement community. The bubble moved the kids inland and older couples and dogs took their place. I found people were more tolerant of dogs than of kids in La Jolla. I felt like the odd man out and a lot of my friends were over the age of 60. ravinos on August 7, 2009 at 9:56 am “Realist” makes a couple of points that do echo what I’ve heard from others about greater San Diego. One, that despite it’s size and growth, greater San Diego falls short as a true cosmopolitan metro area despite its ranking on the cost of living scale. Two, real estate prices, are still inflated in relation to the actual value and condition of the housing stock. And lastly, as to Realist’s comment of “Where do they get the dough BTW?”, that’s a question I’ve been wondering about myself after living here for two years. Along with housing, prices here on virtually everything are higher even in relation to other high cost US areas. Property taxes,HOA fees,insurance rates, utilities, gasoline, auto reg.fees, and income taxes are some that come to mind immediately, while food and restaurants are competitive. All this with my amateur knowledge of the income/wage scales of the area, probably explains my growing perception of an economic “value gap” that has many if not most, stretching more that average to make ends meet, including myself. That’s a personal choice of which a majority appears to feel there’s an intrinsic value to living in the area that’s not reflected just in economic stats. Respectfully, JR François Caron on August 7, 2009 at 10:19 am What’s worse? Living next to a school that’s open? Or living next to a school that’s closed? I’m afraid the school board will fail to properly maintain the shuttered property, slowly transforming it into a potential high risk crime area. Rbelle on August 7, 2009 at 11:06 am @BlissfulIgnoramus thanks for your post – I shake my head at the pricing around a good portion of Southern California, but as a potential homebuyer have begun to recognize that what I think is reasonable is not what others think is reasonable, and I’ll have to adjust my expectations to pay the prices the market is supporting. I’m not particularly bullish at the moment, but changing people’s mentality about the value of living down here is going to take a lot more than this collapse, I think. And I wanted to add that living next to a school is not the same as living next to powerlines or the freeway or a landfill. My grandma lived across the street from a school for years and I loved hearing the sounds of the kids playing during the day – plus in the summer I could walk my cousins over there to use the playground. While things like pollution levels, smell, and view might be more objective, noise is a very subjective criteria – I can sleep through trains and screaming fire engines and love the sounds of a city street from a few floors up. Hearing a conversation outside my window, though, even during the day, freaks me right out – unfortunately, it’s common in the suburbs where I live. Aztec on August 7, 2009 at 1:13 pm Those who think CA real estate just seems to high, you’ve got to remember that’s always the case. At no time did average doodes ever think “gosh, homes are so cheap here!” That’s just the nature of real estate. the only way to make it feel like it’s cheap is to go somewhere more expensive for awhile, get used to it, and then move back. San Diego is super cheap compared to the SF Bay Area. Or NY. Or London (especially!). You get the idea. 3clicks from da beach on August 7, 2009 at 7:37 pm I came from the SF Bay Area and you are correct about the market. 650K for a house in N. County is nothing compared to what one could get in Silicon Valley. Also, a household doesn’t need a BMW, Mercedes, or a Porsche or two for that matter sitting in the driveway – that ought to be worth an extra K or so towards a house payment. ravinos on August 7, 2009 at 7:54 pm “San Diego is super cheap compared to…NY “. Categorically not. From the low end to the high end, from Manhattan to the boroughs, from the Gold coast of Long Island’s North shore to its sprawling bedroom communities, from the northern NJ burbs to affluent Westchester and Fairfield counties, your real estate dollar buys more. Better construction, bigger lots, better upkeep/maintenance of existing stock. Subtract so-so weather. Add higher than average wages. Genius Lives In A Cardboard Box on August 11, 2009 at 12:16 am Wtf, how did I miss this post? Thanks for covering Del Mar. I’ll be moving into Del Mar Heights soon if everything goes correctly and nobody snakes my rental… again. Submit a Comment Connect with: Your email address will not be published. Required fields are marked *Comment * Name Email Website Subscribe to our email updates as well.