Here is a collection of typical tract houses around Carlsbad that help illustrate the market in motion.
I mis-spoke, the second house sold for $1,019,000, not $1,190,000.
The house that just got foreclosed on Corvidae had an approved short sale, and was ready to close escrow, and the sellers decided to blow the deal because they didn’t want to move….yet.
Jim Klinge
Klinge Realty Group
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
CA DRE #01527365, CA DRE #00873197
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
Jim, who were all those gentlemen sitting on the side of the road just before the golf course?
My guess is those were Day laborers looking for
work. Things are slow and they sit there hoping
for something.
Carlsbad is in trouble.
I think the automotive industry has finally mastered the catalytic converter. My guess it’s either your fuel system in need of some tweaking, or you’ve been buying your gas from some of those folks next to the golf course.
I know I am a complete outsider in this game, but even at these REO prices, I am glad I don’t live in an area where I have to put out that much to live in a tract house.
Jim,
I told an aquaintance back in Summer 2007 to wait a few years to buy in La Costa. I even went so far to give him a link to your web site (along with BMIT) so he can come to the decision himself. Well, there goes +/- $200K 🙂
“Day Laborers” – I believe you mean illegal immigrants. Yeah, that would make me feel comfortable leaving for work every day.
Now we’re talkin’ Jim. This is what needs to happen. It’s called “price discovery”. Best way to find out what something is worth . . . . try and sell it. Sh*t’s goin down brotha!
When you talk about comps – who cares if it is REO, short or a straight up sale? It’s all fair game and part of price discovery. You can’t exclude one or another. If some sucker pays $1MM and two doors down they list a similar house for $650k, then guess what . . . The guy paid too much for his million dollar McMansion with “domestic help” available right around the corner.
I’m the realist.
And if the houses were located in Encinitas, you can say Dippin dots just closed. Sign of the times.
Seems good that mom and dad got out when they did!
“allegedly affluent neighborhood” – excellent comment.
Finally prices are getting more reasonable in these “nicer” areas.
Good stuff, Jim!
Thanks!
I predict a blog post in 2012 titled “Full Circle.”
But only 1 person can buy that new REO. What do the other 4 buyers do? That gigantic spread is indicative of something. A mixture of severe distress and yet constrained supply. Definitely a volatile combination.
short sales suck.
“But only 1 person can buy that new REO”
And a good number of times that one person conspires with the seller’s agent to make sure the 20 “other” offers never make it to the bank.
When someone buys a REO or a short sale substantially below market, there is usually either something seriously wrong with the house or there were some suspicious dealings. Most of the time the REOs get bid up to market value. Witness some of the other REOs in LCO and LCG that got bid up 100k over ask. Of course prices are dropping and dropping fast but some of these sales are just not legit.
I personally bought a REO house at 30% below market (on a square foot basis) in a basic, straightforward, hands off, transaction. But I got damned lucky, due to a combination of a permitted addition not making it to the tax rolls (making the house seem much smaller in the listing than it really was, and therefore it appeared overpriced as opposed to underpriced at first glance) and a weak kitchen (turnoff to many buyers; five grand worth of work made it an “average” kitchen).
Pemeliza, I know a guy in OC who said under the table deals are happening up there everyday with the seller’s agent where a buyer gives them cash (in some cases up to $50K) so they can present ONLY their lowball offer to the bank and buy a place for $200-$300k less than the recent comps. More fraud is just what we need!
I watched Tiger Woods a few times on that course for the Accenture Matchplay before it moved to Tucson.
I can say I do not remember the day labor for hire being anywhhere near that course. Before people slam the people LOOKING for work,remember the amount of freeloading documented on this site daily.
Jim, what do you think about those attatched KB units on the other side (north) of where you just were that are going in? They are starting in the mid 400’s I believe.
TY Jim, love the site!