Today’s youtube video tour of a house that was overbid at the trustee sale:
41 Comments
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
View More Interest Rates
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
Did your truck battery die? I hope not but it didn’t sound good at the end of the video. Perhaps a sign of the flip to be — will the flipper also need a jump? We will have to wait and see.
It was a scary moment for me. All of a sudden, the truck won’t start and I’m on the same street where the realtor who tore my head off lives.
Here I am, trying to be discreet by driving my alternative vehicle and dressed the same, and I might have to go door to door to get a jump?
Thankfully the painters were there to help.
Thirty to forty properties per month? Wow! I hope he has someone to help him with the paperwork. Can’t imagine doing all that by yourself.
As for your truck, will you give us an update as to what happened in an upcoming video? 🙂
Jim, Have you personally or any of your clients successfully purchased at a trustee sale? As for this guy that is “on fire” – do you know his playbook?
With the limited supply, and pervasiveness of the cash buyer, how can you help me get a great deal at the courthouse steps? If this guy purchased at the courthouse steps for $600K, what are his total costs and risks. It seems that the traditional agent/buyer strategy lacks any opportunities at the NOT sale. We recently got beat by a cash offer and need a better strategy. It think there are 100s of buyers (not investors) out there would who would gladly pay $600K for that house, and have only 20-50% to put down.
Take the Chevy to Bressi and the Silver Ghost to the back gate of the base. Now that’s class.
Gosh, $595 is a lot to hang out there while looking for a $750 buyer. This one bears watching.
Thank god you got her going again!
Following some of these earlier questions, doesn’t it have to be 100% cash once at the courthouse steps?
3280 for 595… I’ll take 2.
Was the 595K all cash?
Jim your truck sounds like it has a Comp Cams 268 duration cam,make sure the block is grounded to the frame to get good charge out of the battery.
“Oh oh….noooooooooo, I’m Jim the Realtor.”
Priceless! I have to admit I wonder what would have occurred if you ran into that other agent, Jim. *Chuckle* Would it be caught on video for your legion of fans here?
FWIW, I appreciate the fact that you have that ol’ Chevy which enables you to travel incognito from neighborhood to neighborhood. Who would think ANY real estate agent would have a truck like you do? The point is you are NOT just any agent.
Mahalo for all the work you do, Jim, and here’s hoping you have a most excellent week-end in RE land. But do remember to spend some quality time with your family and your friend battling cancer. That’s what’s REALLY priceless!
courthouse is all cash, right at the step. No financing whatsoever. If the guy’s buying 40 properties a month, at $400K each, he would need 16M working capital behind him, because it is impossible to buy/clean up/sell the same house in one month.
With 16M, who would handle paperwork all by himself ?
It seems foreclosures have little effect on setting comps for regular sales. Otherwise, how could Jon Mann buy a relatively newish house in Bressi Ranch for $595K and flip it for big profit? It’s not like buying a dump in Oceanside and putting in serious money to renovate. I mean, what really needs to be done to this house . . . certainly, no more than a regular re-sale of same vintage in any similar neighborhood in the zip code? My experience has been there are so few regular listings sellers are ignoring any and all comps, and setting ridiculously high prices; and apparently getting them.
Paid Off Homeowner,
I had one of those in my ’70 Chevy CST/10 — great cam! 15mpg and 0-60 in 5 flat.
I can not believe that is the front of a 3280sq/ft house, especially in that neighborhood. It does not look like too much is a 2nd story. Yard must be tiny (low maintenence)
$181/sq.ft. in Bressi has to be a new low, by far. He’ll probably clear $150K with no renovations? What time of day were you there? I bet I just missed you on my lunchtime walk thru there!
Jim your truck sounds like it has a Comp Cams 268 duration cam,make sure the block is grounded to the frame to get good charge out of the battery.
Actually, that is pretty good advice. Chevy truck grounds are pretty bad. The heavy wire from neg should go directly to block (starter pulls more current than anything else). There should be another wire to the frame. On my Chevy truck, I put heavier wires from the battery to starter and block as well as putting a gauge 6 wire going from block to frame rails and then from frame rails to body. The body of a Chevy truck is mounted to the frame through rubber isolation mounts. The engine is mounted to the frame through rubber engine mounts…
Your truck might have a dead alternator, or bad alternator connections. If you have a VOM (Volt Ohm Meter), connect across the battery with the engine running at high idle.. you should read about 14+ volts on a US made car. Japanese cars read a little lower.
How many other contingencies on top of the $595 wil he need to clear. Is there a big delinquent tax bill? Any liens on the property?
The property has been vacant for over 3 months. The last owner took the refrigerator, stove and microwave from the inside kitchen. These are not cheap appliances since the refrigerator is the built in kind (~5k) and the range was a GE Monogram six burner with a grill and double ovens (~6k). Outback the grill, sink and mini-refrigerator were missing. The inside of the house was in good condition and the carpets only needed to be cleaned. It will be interesting to see if they repaint it since it was real dark inside. Lots of dark browns throughout. The plants have been overgrown for a while and needed some repair. Not a lot of grass, just that patch up front. The backyard was mostly hardscape. I talked with one of the guys and they said it would be on the market by the end of the week.
I’d like to know the answer to what others here have asked…what was his final price? Were there any other liens on the property?
Buy now or be priced out forever!!!!!!!!Dont miss out on the next bull run.Haven’t we heard this before?
Taxes were current. You can check at the San Diego County Treasurer’s website. Click on the Pay On Line button and enter the address you want to look at.
http://www.sdtreastax.com/payonline.html
You can see how much the taxes are currently and if they have been paid.
Opening Bid was $494,000
Sales price was $595,600
Sale date 8/24/09
These guys are good – they make sure to record their grant deed upside down, so their price isn’t listed on the regular tax rolls.
Then they also record a trust deed for $2 million so no clues there for price either.
He keeps the new list prices just under retail, and with no previous price available in a fast-moving market, buyers just shrug and pay the pauper.
You know what they say about one being born every minute. It is also the greatest show on earth.
That’s a pretty low opening bid.
I’m guessing the flipper would have pulled out somewhere around ~$650,000? Maybe not.
If you had the cash and wanted to live there vs flip, seems like that would have been a pretty good opportunity.
It is tough for the little guy to make it at the Trustee Sales–Frustrating–maybe if the little guy is an owner user they would be willing to go a bit higher and outbid the regular bidders–although out of my 15 or so times attending the sale, I have never seen them get outbid!
seen today…
The California Department of Real Estate used to issue 5,000 new sales agent licenses monthly in 2006.
Today they issue around 1,000.
Jim, while the Chevy fulfils the sub rosa role, it’s reliability is obviously in question. I think I know where you can pick up a slightly used ice-cream truck……….
Jim, what sort of camera do you use ? I notice there are quite a few moments when the focus is out 🙁
I use a panasonic TZ7 and it can be a bit focus happy while zooming in/out it’s very steady once you’re focused in. (plus it records in hi-def,720p)
(here’s a test video from it.)
http://www.youtube.com/watch?v=3M_kp-H2Dic
Downturn,
An ice cream truck like this?
http://video.signonsandiego.com/vmix_hosted_apps/p/media?id=5728721
(thanks to the several people who sent that in!)
Hey Jim! I live right around the corner! You shd have come by and say hi. I am a realtor also and I won’t bite!
Anyway, I think the couple who lived there had a garage sale few months back and I went in and took a look. Lots of nice stuffs.
I can’t believe it sold for under $600K. *sob*
hey jim,
you said:
“they make sure to record their grant deed upside down, so their price isn’t listed on the regular tax rolls.”
Never heard of this before.Is this a common practice?Wouldn’ there be some kind of clue to price from the 1.10/1000 transfer tax?
Thanks
This just proves my theory. When you offer idiots credit they spend as much of it as you lend them. Those with cash are much more conservative.
As long as credit is available house prices will continue to go up. When credit is taken away (like what’s happening now) house prices will go down.
Once FHA 3% loans are taken away. The lower end (sub 400k) is going to slow down just like the upper end is doing now.
As just the average buyer, I’m going back to bed and see if the tooth fairy leaves the “real” value under my pillow.
There are banks failing, letting the taxpayers clean up the mess, while holding onto sinking titles. They are waiting for the FDIC to cover the mess, so they can buy them back at pennies on the dollar. But the FDIC is nearly broke and needs to borrow from the Fed.
The auction buyers and flippers are driving the market right now, and without the release of properties from the banks, the comps are all over the board.
Those flippers may take a clunker property, then put a few K of low grade materials into it; but as an old coach said, you can’t make chicken soup with chicken s4!t. So why would I buy it? I want something thats’ got quality into it – and I’ve seen some of these flipped messes!
Message to Barry-the-buyer. Wait and be patient.
“they make sure to record their grant deed upside down, so their price isn’t listed on the regular tax rolls.”
Obviously, this is a loophole that should be closed. People deserve accurate and accessible public records.
Today they issue around 1,000.
Jim, Any idea what the dropout rate is?
no numbers on agents leaving, but it just like sellers who are priced too high. They don’t know how far out of the game they really are.
The upside-down recording means the tax stamps are logged on the back of the page. The front page is what we see on public records, but without the tax stamps, there’s no way to calculate sales price. But I know people who have access when needed.
I see Hedge Fund/Private Investment firm written all over these deals.
A realtor who tells it like it is and drives an old Chevy pickup and knows how to work on it, Wow!
I’m calling “Man-crush” !
[/I]Actually, that is pretty good advice. Chevy truck grounds are pretty bad. The heavy wire from neg should go directly to block (starter pulls more current than anything else). There should be another wire to the frame. On my Chevy truck, I put heavier wires from the battery to starter and block as well as putting a gauge 6 wire going from block to frame rails and then from frame rails to body. The body of a Chevy truck is mounted to the frame through rubber isolation mounts. The engine is mounted to the frame through rubber engine mounts…
Your truck might have a dead alternator, or bad alternator connections. If you have a VOM (Volt Ohm Meter), connect across the battery with the engine running at high idle.. you should read about 14+ volts on a US made car. Japanese cars read a little lower.[/I]
Jim, here’s the truck I had in mind:
http://i582.photobucket.com/albums/ss265/Downturn/hodrodicecream.jpg