The bank may be exempt from disclosure and is selling “as-is”, but the flippers and agents are obligated to disclose all known defects.
Flipper paid $945,000 on 11/18/09 at the ‘steps, and re-listed for $1,395,000 to $1,495,000:
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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
Just think…some people spent about that same amount to live in a tract house in Encinitas or Carlsbad. I’d take that Fairbanks Ranch home over the tract houses any day. Gorgeous, gorgeous, gorgeous!!!!! 🙂
3 words:
Negative Hydrostatic Pressure
So who is stupid enough to buy this house?Is it the people looking for an 8000 tax credit?
Comps make it look like a good buy. But at least $300,000 plus to fix up.
Areas more dependant on real estate longer to recover?
http://www.azcentral.com/business/articles/2009/12/14/20091214biz-brookings1215.html
“Flipper paid $945,000 on 11/18/09 at the ’steps”
That’s a LOT of cash, fees, commissions, etc.
Any delays in peddling this albatross and its a potential BIG loser.
It takes Brass Balls to sell (buy) Real estate?
Good Luck with this one, Bucko.
Coffee is for closers…
I wouldn’t touch that house with the cracks. Just a rule for me …. if I see a major issue within the first visit its a no buy … cracks, sound or perma smell. I’m so use to new houses now it felt like a let down going inside that one. Definitely major inside work. Otherwise, the neighborhood presents itself beautifully and nothing to be ashamed of looking on the streets.
I understand the whole location thingy but good grief… It looks scary and I can’t even smell it. The neighborhood is beautiful but you gotta give it to that flipper. He has a huge set!… I am so curious to see what happens with this one. It is a gamble that could pay off big time or bomb badly. I can’t imagine a home inspector not having red flags all over that report.
I found the listing for it. Is the HOA fee correct? $1100/month? It seems like the other homes in the ‘hood pay just over $400/month.
http://www.sdlookup.com/MLS-090068304-16875_Camino_Lago_De_Cristal_Rancho_Santa_Fe_CA_92067
Fru-fru smelling room? ick! Pink(ish) room too.
horizontal cracks are not that much to worry about. It is usually settling… above the foundation (studs too short, foundation not 100% flat)… see below.
*)First crack is not that bad (near the door to the pool).
*)Backwards slope from the pool to the glass doors is a potential big problem. I didn’t see any ‘drainage’.. are there french drains in the ground there?
*)That crack that bisects the house through the hallway scares me. To have that type of crack, you need a crack in the foundation or there was an addition that was not properly done and the crack is at the seam of new and old foundation. I suspect that this may be the case because the drywall looks a little different across the crack (time index 3:47 – color variation).
*)Time index 4:03 – what is going on with the bottom corner of the floor?
*)Time index 5:25, what the **** is that? Discontinuous foundation?
*)Time index 5:37 – does that crack line up with the cross-hallway crack noted earlier? That crack is large enough to tear the moisture barrier behind the stucco. With those water marks going down it.. doesn’t make me feel too good. A good way to get water behind the stucco and into the wall.
The pool “popped” from hydrostatic pressure. It either wasn’t excavated and sand lined properly or it spent a season empty. The contemporary brickwork was a replacement for the original concrete at grade that buckled. Except for the last those cracks are not structural and to be expected. That last however is a red flag.
Conclusion: $1.5m purchase, $600k rehab, $2m final value equals no deal.
Was that a meat cleaver in the kitchen??!? YIKES
What exactly do you do with a house like this. Put the 300-500K in rehab so you’re in it 2 mil or do you just tear it down and go in another mil for a total of 2.5. The small lot really makes it tough to decide.
Pass.
The part of the house with the huge crack outside looks like an addition. It’s as if the entire addition is now tilting over and separating itself from the rest of the house.
I’d never touch that one. Don’t care how much money I have. Not that I have it. Which I don’t. 🙂
i have been to two wedding receptions at Fairbanks Ranch. The second time I went a hour early and just drove around the neighborhood. There are just some unbelievable houses. Then you come upon a house that looks like it was just built ten years ago and looks like a typical 1950’s type house. Interesting.
Having partnered on several homes in Fairbanks Ranch over the years, I can say it is one heck of a great neighborhood. Wide streets, mature trees, various architecture, armed guards, top schools, etc. It will never be duplicated again.
However, there are several areas where there is significant earth movement, drainage issues, fill dirt, etc. Parts of Circa Oriente, etc.
I have no idea where this home is located, however, one must be VERY careful and understand why a home is priced so low in here vs. competition.
Its the lot by lot dirt knowledge that the best couple of RSF realtors are worth their commission in these types of situations.
Does anyone know how a private guard could legally give out “speeding tickets”, as Jim says?
Would they be enforceable in any way?
Maybe the HOA contract states that one must pay the speeding tickets. But if you don’t live there-I would imagine you could toss them. As for the cracks, all except the last one outside look like no big deal to me-but that one was fairly scary.
Usually the pools that I have seen ‘pop’ have moved more than that.. It could have been an original install that was bad. A good way to find out is to pull up the address on Google earth/yahoo maps and go for satellite view. The images usually lag by at least 1 to 2 years.
If the pool popped.. I would be worried about how stressed the plumbing for the pool is. Also consider that if the pool ‘popped’.. it is going to slowly start ‘settling’ with the water in it.. yet more stress on the pools plumbing.
FYI: Watt industries bought and subdivided the lots starting in 1977. The home sites where bought “as is” with no guarantees of the underlying geology. Each buyer was responsible for soils testing, compaction and the like. As a result there are a number of homes such as this within the “Ranch.”
Wouldn’t the investor/buyer been able to see the problematic clues from an exterior walkaround as shown on the video? A lovely home with some upgrading, but the compression cracks, in my opinion, are overwhelming. Similar to some new high end homes built here over a rapidly declining underground aquifer (population expansion and overbuilding created over demand on water source causing land to sink). Some homes saved by pumping a concrete type material under the slabs, plus other remedies. I’m not a geo engineer, however, the pool and related plumbing is probably leaking. A pool auto-fill system may obscure the leakage. JtR, this is a perfect example of why buyers should hire a pro like you when buying a home.
Speeding tickets: They get you 2 ways: 1) you are responsible for your guests and if they get a ticket, you get billed and deal with it as you see fit. Remember that you need to be ‘called in’ by an owner so they know where each visitor belongs.
2) if you are a non-affiliated person, like a real estate agent, then your ticket will pop up on the guards computer before he authorizes you to enter for a showing…thus, pay or be banned!!!!
Remember, the guards are actually armed. I had a guard come into one of our homes with his gun drawn when he didn’t recognize the car in the driveway and didn’t see a pass in the window.
Maybe I have no imagination but man….that’s one depressing house.