The first segment of Tuesday’s speech in Mission Valley, with 700+ realtors filling up this ballroom (and two other auxiliary rooms), at $25 per person, lunch included. This youtube clip was taken with a hand-held camera while standing in back – it’s shaky so you may want to listen to audio only:
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Jim Klinge
Klinge Realty Group
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024 - (858) 997-3801 call or text
- klingerealty@gmail.com
CA DRE #01527365, CA DRE #00873197
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Trustindex verifies that the original source of the review is Google. We sold a home with Jim and Donna and from beginning to end they were consummate professionals. Their initial walk through the property resulted in a list of items to be repaired or updated. They supplied a list of vendors and job quotes to do the repairs and updates. We originally wanted to sell ‘as is’ and just get it over with. They gave us a selling price for ‘as is’ and options for doing a few updates/repairs to doing it all with the selling price for each option. We agreed to do all they suggested and we sold for the exact price they predicted. For every dollar spent we got back more than $2 back in the selling price. And they got that price in a rising interest rate environment! Donna and Jim are extremely detailed and guide you through ever aspect of the sale. There were no surprises thanks to their guidance. We couldn’t be more pleased with their representation. Thank you Donna and Jim, Jerry and MaryTrustindex verifies that the original source of the review is Google. We have known Jim & Donna Klinge for over a dozen years, having met them in Carlsbad where our children went to the same school. As long time North County residents, it was a no- brainer for us to have the Klinges be our eyes and ears for San Diego real estate in general and North County in particular. As my military career caused our family to move all over the country and overseas to Asia, Europe and the Pacific, we trusted Jim and Donna to help keep our house in Carlsbad rented with reliable and respectful tenants for over 10 years. Naturally, when the time came to sell our beloved Carlsbad home to pursue a rural lifestyle in retirement out of California, we could think of no better team to represent us than Jim and Donna. They immediately went to work to update our house built in 2004 to current-day standards and trends — in 2 short months they transformed it into a literal modern-day masterpiece. We trusted their judgement implicitly and followed 100% of their recommended changes. When our house finally came on the market, there was a blizzard of serious interest, we had multiple offers by the third day and it sold in just 5 days after a frenzied bidding war for 20% above our asking price! The investment we made in upgrades recommended by Jim and Donna yielded a 4-fold return, in the process setting a new high water mark for a house sold in our community. In our view, there are no better real estate professionals in all of San Diego than Jim and Donna Klinge. Buying or selling, you must run and beg Jim and Donna Klinge to represent you! Our family will never forget Jim, Donna, and their whole team at Compass — we are forever grateful to them.Trustindex verifies that the original source of the review is Google. WeI had the pleasure of working with Klinge Realty Group to sell our home in Carmel Valley, and I cannot recommend them highly enough! Jim and Donna demonstrated exceptional professionalism, offering expert guidance on market conditions and pricing strategy, which resulted in a quick and successful sale. Communication was prompt and we were well-informed throughout the entire process. For anyone looking for a dedicated and knowledgeable real estate team, look no further! ---Trustindex verifies that the original source of the review is Google. Donna and Jim Klinge of Klinge Realty Group have our highest possible recommendation. From Donna and Jim’s first visit to our house through closing their advice and counsel was candid and honest in all dealings. They kept us fully informed throughout the process. The house sold less than three days after listing with a two-week closing. My wife and I have sold several houses during our lives. This was by far the best experience. Klinge Reality is a premium service realtor. You can’t make a better choice for someone to sell your home fast and for top dollar.Trustindex verifies that the original source of the review is Google. Donna and Jim provided exceptional support and professionalism throughout the entire process. We couldn't have been happier with their efforts. They made our house shine, and thanks to their expertise, it sold above the listing price in the very first weekend! Truly a fantastic experience from start to finish.Trustindex verifies that the original source of the review is Google. This year has been difficult on our family, mainly due to having to sell our home. Thankfully we knew God had a plan for us and working with the Klinge team was a key part of it. It was an obvious decision to work with them again after such an amazing experience when purchasing the same home we needed to sell. The challenge was, how will we do this in so little time with so much going on? Jim and Donna held our hand every step of the way. Whenever an unexpected issue arose they found and provided a solution. Never once did we feel pressured to make a decision and the Klinges were always reassuring after providing the information that the decision was ours to make. Despite the curve balls, they never panicked and exemplified the “can do” attitude, making us feel optimistic and taken care of. Their expertise and professionalism was superb. But of all the reasons to work with the Klinges, the most impactful and valuable is their compassion and genuine care for their clients. We pray that we can one day purchase our forever home and you better believe that Jim and Donna will be representing us - as long as they will have us of course. Thank you again Klinge team! Your execution, experience, and care are unmatched.Trustindex verifies that the original source of the review is Google. Jim and Donna were fantastic! Jim understanding my needs, recommending potential places, pointing out the pros and cons of each property was invaluable. Then when the offer was accepted Donna’s organized guidance through the inspections, paperwork etc made the whole process seem effortless. So grateful that I had them on my side!Trustindex verifies that the original source of the review is Google. We first found Jim through his blog at bubbleinfo.com, which really showcased his knowledge of SoCal real estate. Since then we've done three transactions with Jim and Donna, and they are an incredible full service agency, with Jim's deep market insight and Donna's deft contract and project management. We trust them implicitly in their analysis and strategy, which is based on years of experience. They're always available and on top of things, and we strongly recommend them to anyone.Trustindex verifies that the original source of the review is Google. The Good The Klinge Realty Group operates like a finely tuned machine, with a very personal touch. We contacted them on a Sunday and they were talking to us about our family and our needs on our living room couch the following day. They carefully listened to us and worked with us to identify the best and quickest path to listing within 2 weeks to take advantage of the low inventory conditions in our South Carlsbad neighborhood. They knew our tract specifically and had many previous sales there over the years - they came prepared with a thorough analysis of comparative sales and recommended a pricing strategy that they felt confident would yield offers the first weekend on the market. The Great Over the next two weeks Donna coordinated a range of vendors who she knew from experience could get the preparation to list work we needed done on time and with high quality. Our light tune-up involved excellent experiences with their stagers, landscapers, contractors, electricians, and plumbers. Throughout this period Donna's daily communication was clear, concise, and responsive. Any time we had questions Donna picked up the phone or texted immediately - but almost always, she answered our questions before we even knew we had them. The Outstanding We had a tricky situation with a shared fence that could have delayed our escrow. Donna used superb mediation skills to negotiate the terms of replacement and was personally on site with the fence contractor to make sure everything went smoothly. The fence looks great and escrow closed on time. The Truly Exceptional Our house came on the market on a Wednesday and between then and Monday morning Jim was personally at all three open houses. He was in constant communication explaining potential buyer reaction and strength. As he predicted offers began to come in on Saturday and each one was incrementally higher than the last. At the end we had 5 offers, 4 of which were over list, and the final accepted offer was $100,000 over list. In addition to being over list it included rent back terms that met our needs. The Recommendation For all of these reasons we would strongly recommend The Klinge Team to anyone wanting to sell in North County Coastal San Diego. I had been reading Jim's bubbleinfo.com blog for 15 years and knew when the time came to sell that he would be our first call. Jim Klinge is not your standard realtor. He is keenly aware of market conditions and sales strategies. And, works his tail off - though not as hard as Donna . At this point he's gone from realtor to friend and I plan to have him over to grill and chill at our new place to talk real estate, but also just about life and raising kids in San Diego. He's more interested in relationships than his sales numbers - and that's why his sales numbers are so high. We have already recommended the Klinge's to some close friends and another successful sale is on deck right around the corner...Trustindex verifies that the original source of the review is Google. We recently had the pleasure of working with Jim and Donna from Klinge Realty Group to sell our house, and we couldn't be more satisfied with the experience. From the initial meeting, they listened attentively to our needs and provided invaluable guidance on specific improvements to get our home market ready. Their responsiveness throughout the entire process was truly impressive. Anytime we had questions or concerns, they were quick to address them, ensuring we felt comfortable and informed every step of the way. What stood out the most was their team and extensive network of tradespeople, which made addressing any necessary repairs or updates seamless and stress-free. Thanks to their expertise and dedication, our house sold quickly and at a great price. We highly recommend Jim and Donna to anyone looking to buy or sell a home. They are a fantastic team who truly care about their clients and deliver exceptional results.Load more
Ahhh. turns out it was all a big misunderstanding. There was this “credit bubble” thingee detectable only in hindsight. Folks getting $1M loans with zero down may not have been completely forthcoming on their loan applications …. Who knew!?!
Then there is his dismissive hand waving as he mentions that prices may be down as much as 40% before quickly moving on to the fabulous price appreciation that today’s saavy buyers will enjoy over the next year.
Was the lunch at least decent?
I saw his lips moving but…
I think I’m going to hurl…
Did you guys know we are in a new bull market according to the pros.Goldman sachs has been pumping stocks for weeks.Stock prices to the moon.I wonder what their short psotions like like now.I bet they made a bundle on the alcoa downgarde this morning.Short the stock and then downgrade it, classic.
why does yun still have a job?
Jim, the video is not the only thing that is shaky… Yun should be arrested immediately and never mind the charges we can deal with them later… Maybe Suzanne is his Love Child after all? http://www.youtube.com/watch?v=Ubsd-tWYmZw
“I love that house, plus the schools”
“See the size of that garage”
Dear Lawrence, You are a complete douche and a discredited bought and paid for hack. You and your ridiculous organization give decent people like Jim the Realtor a bad reputation. Give it up and try working for a living. The car wash is hiring and you just might qualify for a tire wiper position (with a little training and motivation)
Let’s see 700 sheep at $25 per head = $17, 500.00. That’s a lot of rice and beans, Jim.
PINOCCHIO
Bubbles do not come back in several years it takes many years for prices to come back. I’m still waiting for the stock market bubble to come back and make up for my $1million loss.
Real estate expert: S.D. at leading edge of recovery
By Roger Showley
Union-Tribune Staff Writer
2:00 a.m. August 19, 2009
The chief economist for the National Association of Realtors predicted yesterday that mortgage interest rates will rise to 6 percent next year but saw no evidence of a “double dip” in housing price declines.
Economist Lawrence Yun, keynoting the San Diego Association of Realtor’s regional real estate summit, said California and San Diego are at the leading edge of a real estate recovery, based on rising prices and sales.
He noted that demand locally is strong enough that there is just a 2½-month inventory of homes for sale. With construction running at a sluggish pace, he said a shortage could develop next year as buying interest picks up.
“Usually, there is a 5 percent or 10 (percent) to 15 percent recovery” in sales, he said. “That’s been the past, historic experience. California markets have seen a 50 percent increase and there have been some markets up 100 percent.”
Yun spoke to an overflow crowd of more than 700 local agents and other industry professionals at the Doubletree Hotel in Mission Valley.
Also on tap were the San Diego and state realty presidents, last year’s national association president and other speakers who all aimed to calm the jitters of agents and brokers wondering about the state of the economy and outlook for housing.
Acting like a psychiatrist speaking to his patients on the couch, Yun calmly covered many economic and political issues facing the nation’s real estate market.
He began with a confession about how he missed the real estate bubble of 2004-06. Surely, the system had enough checks and balances to avoid a runaway market, he thought at the time. “I was clearly wrong,” he said.
He said the mistake was in not realizing that lenders were indiscriminately handing out loans. But the situation became clear when he caught an HGTV interview of a young UCLA couple who had succeeded in buying a $1.5 million home with a view of the ocean.
“I was jealous!” Yun said, tongue-in-cheek.
Just two years ago this month, all started to unravel as homeowners holding subprime mortgages were unable to cover rapidly increasing monthly payments. Now, Yun said several California markets, including San Diego, are starting to recover as prices rise month by month and sales increase, sometimes 100 percent over last year’s levels. He said the monthly changes are more indicative of the future than comparisons to year-ago levels.
Yun said San Diegans should be thankful that they aren’t in Detroit, where homes are going for as little as $20,000 because of economic woes.
But in his presentation, he illustrated how San Diego had experienced a roller-coaster ride in housing prices — compared with the flat-line, no-change situation in Midwestern cities like Dayton, Ohio.
San Diego prices fell from the peak $517,500 in November 2005 down to $280,000 in January, and have risen to $320,000 as of July, according to MDA DataQuick.
“We are back to justifiable levels,” Yun said, adding that affordability is the best on record.
But nationally, he said, reports continue being issued that prices are expected to fall another 10 percent, though that may not apply to all areas of the country, especially in places where they never raced upward. He expressed concern that consumers will hear reports of further drops and will continue holding off buying and thus delay a housing recovery.
Prices are strongest in Pacific Coast states, he pointed out in one slide, helped along by what he called the “tipping-point phenomenon.”
“You had a bubble bust,” he said. “Nonhomeowners were reluctant to enter the market and are still cautious.”
But with word that buying is increasing, the fence-sitters “don’t want to be left out” and buying has become acceptable in such markets.
With the Federal Reserve’s very low short-term interest rates in force, mortgage interest rates have remained at historically low levels, currently between 5.2 percent and 5.5 percent for a 30-year, fixed-rate loan.
But come next year, Yun predicted that rates might rise to 6 percent or higher, if the Fed sees signs of inflationary pressures.
“That’s not good news,” Yun said, but he argued that 6 percent is better than much higher rates first-time buyers’ parents paid 20 or 30 years ago.
He also predicted that foreclosures will continue at high levels for the next 12 months because of the weak economy. But unlike last year, he said this year’s foreclosures are being snapped up in many markets, including San Diego.
That demand for low-cost distressed properties leads Yun to discount any chance of a “double-dip” in price drops caused by an excess of distressed properties for sale.
Noting the historically low levels of housing construction, Yun said it is possible spot shortages might develop in places like San Diego, where the inventory of homes for sale is only about 2½ months. He acknowledged that the shortage might be somewhat artificial, since many lenders are holding off marketing foreclosures in hopes that asking prices will rise.
“Lunch with LY.” “LY?” How do you pronounce that? 😉
Hey Rob you pronounce it like LIE
Is Yun an economist or a schill?
How can he dismiss his call on the bubble and use irrational lending as an excuse? Isn’t he suppose to monitor all aspects of the market?
If the NAR wants a cheerleader perhaps they should hire Paula Abdul. I’m sure that she’d make a better economist.
I personally believe, in general, we are at or close to the bottom. As Jim pointed out in a previous post, different individual markets and price points have wild variations as to whether or not they have bottomed, but a lot have.
Now, if this shadown inventory, particularly the pre-shadow inventory (properties in default that the banks haven’t foreclosed upon yet) ever show up for sale as REOs en masse, this may change. But if most of them (eventually) get loan mods and don’t redefault, we have bottomed folks.
Stand by for segment two from LY, he talks about the shadow inventory.
He’s a psychopath just like Obama and the Goldman Sachs gang of Geither, Bernake, Paulson, etc. DOUBLESPEAK EVERY TIME. Don’t stand in their way of their selfish progress or you will get runover!
This is analogous to a car mechanic not being able to determine if a car’s going to DIE 100 miles out. Why do these people still have a JOB?
What’s wrong with these type of people? Either these guys have had a lobodomy (tarded) or are lying through their teeth. When they say no one could’ve predicted this, that’s bull. I’m sure many people told Yun there was a HUGE bubble years before it popped. He ignored them for nefarious selfish purposes.
And why are people still listening to him? What kind of an organization keeps a person around who’s gotten it so wrong? What does it say about the people in that organization?
Dang it, I don’t have it on tape, but LY said that Fannie/Freddie officials have told him specifically that they are holding back properties from the open market.
‘I’m sure many people told Yun there was a HUGE bubble years before it popped. He ignored them for nefarious selfish purposes.’
What would you expect him to do, get up and tell everyone there is a massive bubble and everyone should immediately stop selling homes?
When your job is to sell lemonade… it’s always a good time to buy lemonade. Period. This is his job. It pays his bills and feeds his family.
Not defending him, just pointing out the predicament.
I suppose if he really cared about his fellow Realtors he could have warned them that the punch may be toxic, and to stop drinking it themselves.
However, I suspect that’s like telling the drunk guy at the bar he’s had too much to drink – it’s already too late, he’s not going to believe you. Party on!
NAR needs a spokesman.
Lawrence sees things so linear that there is no extra influence to his predictions. He sees sales or prices going up for five months in a row, and he calls it the trend, and that’s the end of it.
You never hear from any White House economists, they trot out the spokesman who helps interpret the data, and can handle the questions.
The economy is doing awesome.The govt has to give people money to buy new cars and homes.Where is all this money coming from?We are so in debt it is ridiculous.Aren’t you glad your taxpayer money is going to your neighbor to buy a new car?
“It is difficult to get a man to understand something when his job depends on not understanding it.”
-Sinclair Lewis
This rightly sees a good bit of repetition at CR, and seems appropriate here.
He is an economist. Certainly NOT an exact science.
He doesn’t bother me in the least, but if policy is coming exclusively from what he thinks that’s a big problem. You’ll find many towns who use university economists to understand their economy. But it is clear whatever California has been doing isn’t working anymore.
I sense some people in the state do not understand that….yet.
Jim: re “NAR needs a spokesman”
they haven’t called you yet ? probably too much of a pay cut.
Peter Hong,
They can’t handle the truth! 🙂
Jim, love your followers!
That includes me too!
“Dang it, I don’t have it on tape, but LY said that Fannie/Freddie officials have told him specifically that they are holding back properties from the open market.”
If what you’ve said is true government is no longer representing the people.
The government hasn’t been representing the people for a long time, unfortunately.
What would you expect him to do, get up and tell everyone there is a massive bubble and everyone should immediately stop selling homes?
When your job is to sell lemonade… it’s always a good time to buy lemonade. Period. This is his job. It pays his bills and feeds his family.
Not defending him, just pointing out the predicament.
The self-interest reasoning is true of any job or person out there. It takes a ‘special’ person to lie/cheat like this. Can most people go up there and lie like that and destroy hundreds of thousands of lives and the economy?
The younger generation has a serious serious problem. Growing up in school (I’m 32), I saw the ‘leaders’ (the smart ones) always trying to con/trick the system to better themselves, with no thought about consequences to others or the long-term effect on the environment or system. Ask yourself why all of this is happening now, and not why it didn’t happen in the previous generations? Welcome to the pokemon / scoring points generation.
What we have is a integrity crises. The banking, financial, housing, economic, job, war/terrorism crises are just offshoots. Until we cleanse the system of dishonesty, the snowball is going to keep getting bigger and bigger until it smashes into a large obstacle at the bottom. People won’t learn until they starve.
Is all of this sustainable? Can we continue this path of material gluttony? So we reach a fork in the road and one path lead to an expanding material empire with continuous war and loss of liberties, whilst the other path leads to a beacon of light the whole world looks up to for leadership in freedom, liberty, and integrity.
Anyways, all of this is a reflection of values of the people of the country.
Check out the red button problem:
http://www.youtube.com/watch?v=T40QWrlGRiY
Bring back “LIEREAH”!!!!
@sdnerd – regarding NAR and their spokespeople – I make this point: NAR is a trade association, they are paid to be cheerleaders for the real estate industry, they are paid to protect the interests of the brokers in the industry. They are not a consumer protection agency.
Would anyone expect the National Cattlemen’s Beef Association to warn consumers of the risks of mad-cow disease?