We already know that flippers are flooding the streets in search of profits, so it’s inevitable that we’ll see them competing…..with each other! Don’t be surprised if we see surges of new listings, especially around recent high sales – here’s a youtube video:
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Jim Klinge
Klinge Realty Group
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Trustindex verifies that the original source of the review is Google. Jim & Donna Klinge helped us sell our home of 30 years in Ocean Hills. We were very happy with their service and would HIGHLY recommend them to anyone looking for an Honest, Knowledgeable, Skilled, Informed Efficient realty team. Both Jim & Donna were so helpful in different ways and complemented each others skills. Please refer to a more detailed review that we wrote on YELP. Thank You Both for all your help!!!Trustindex verifies that the original source of the review is Google. A+ thank youTrustindex verifies that the original source of the review is Google. Many years ago, we purchased a home in Carlsbad, using a realtor that was recommended to us - Jim Klinge. Fast forward to 2025, we recently had the privilege of selling 2 homes in Carlsbad, CA and didn't hesitate to reach out to Jim and Donna Klinge of Klinge Realty Group to guide us through the sales. The transactions were very different, each with its own unique situation, opportunities and challenges. From start to finish, Donna and Jim helped navigate the pre-sale preparation, the listing, showing of the house, buyer negotiations, the final close and all of the paperwork and decisions in between. What stands out with both transactions is the professionalism of Jim and Donna (and their team), wonderful communication (timely, relevant, concise), their deep understanding of market dynamics (setting realistic expectations), their access to top-notch contractors, and last, their ability to guide us across the finish line successfully. We wouldn't hesitate to use Jim and Donna in the future and highly recommend them for anyone looking to buy or sell a property in North San Diego County.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!Load more
A Carlsbad city attorney bought an almost $1M house? How much does a Carlsbad city attorney make? I don’t think city attorneys, even senior ones, make any more than $150k/year. A $1M house would be severely stretching it unless they came in with a substantial downpayment or the spouse has a good income as well.
You’re going to have start wearing a disguise…You know you’re well known when people recognize you driving by. And you weren’t even in your truck.
Demand must be crazy if flippers are able to buy a house at auction for 700k and resell it for 950k.
Bankers take note. You’re getting ripped off…
Flood the market and make as much $$$ as you can before the rest of the banks know what’s going on.
Bankers take note. You’re getting ripped off…
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This is exactly my point WRT the auctions. IMHO, if the taxpayers are going to be covering losses and guaranteeing bonds, etc., then the banks should be forced to take back the homes (instead of letting them go to flippers on the courthouse steps), then selling them on the open market to the much, much deeper pool of buyers who have access to mortgage loans.
Taxpayers are effectively subsidizing billions of dollars in profits for these flippers. Many of these people being the very same flippers who were causing the problems on the way up. I’m sure we’re also subsidizing flippers who HELOC’ed everything out of their “investments” during the bubble, then took off with hundreds of thousands of dollars in HELOC’ed/cashed out loans. They can now walk away from their “underwater” mortgages, and use the tax-forgiven money for speculating/flipping all over again.
Bankers take note. You’re getting ripped off…
No, they ripped themselves off when they made the loan.
Banks are in the business of renting money and getting paid back. When they don’t their best move is to dump the property and take the loss. Same thing happens at all auctions. But banks don’t have the time or talent to become flippers or used equipment dealers or all the other resellers of someone else’s potential treasure.
Taxpayers are effectively subsidizing billions of dollars in profits for these flippers.
Banks sell at auction to dump the houses fast. They take a risk by not selling the house as a REO, since any lien, tenant or structure issues aren’t their problem when selling at auction. The flippers are taking these risks, but mitigate them by doing a lot of homework. There may only be a few houses where the bank would make more money by going to REO, but that would also be a lot more upfront work on their part on every house.
The bank might not even be losing that much money by selling at auction either. If they aren’t the second lien holder on the loan, the auction amount may be close to the first lien amount. All they have to gain is additional money for the second lien holders, and why take the risk for them?
Sure seems like a lot of supply, for that street at least. Are there buyers to soak those houses up? Or are the flippers playing musical chairs. Seems a bit risky, unless you have deep, deep pockets. Some flipper is bound to get burned, sooner or later.
Yeah Mike #7, seems like the same game of musical chairs all over again from my far-removed vantage point, but then again Big Jim hasn’t mentioned that the retail buyers are predominantly speculators so maybe not…
Wow, I don’t think there was much of a market for 950k+ homes in Rancho Carrillo. Good luck.
If the banks had set up the online auction site in conjunction with GSE loans to pre-approved bidders like I’ve been saying over the past few years, they would definitely get more than they do by selling at the courthouse steps.
While the risks are there WRT title issues, etc., they are greatly exaggerated by those whose incomes rely on these below-market, cash-only, narrowly-attended auctions.
Narrowly-attended? Have you been to the courthouse steps?
“Hey, this one’s sold, buddy. Take off!”
*Chuckle* Cracked me up to hear that appraiser yell that to you, Jim. I bet you’re a favorite of other agents, appraisers, title people–nearly anyone in Real Estate Land, huh?
DISCLAIMER: *This last sentence does not include one particular real estate agent named Janae* (And I need to add: No real estate agents were hurt in the making of this bubbleinfo video.)
Jim, I’m being “kidnapped” from the Central Coast by my family today as it’s my birthday weekend. They all promise my birthday adventure will not entail: skydiving, bungie jumping, plane riding or other petrifying adventures high on my list to avoid.
My sister tells me I will never guess where the are taking me. (Let’s hope she doesn’t remember some childhood misadventures of mine against her when I was, say, six!) The only information I’ve been able to discover is we will arrive at (so far unnamed) hotel somewhere in N. CA.
If she asks what I’d like to do, I’ll quickly jump up and down: “Open houses in Real Estate Land, baby!” My two kids will then look at each other and simultaneously roll their eyes…
Seriously, my sister and I are extremely close. She’s probably been planning this for at least three months. And that’s what I’m afraid of! Personally, I think the destination has something to do with our childhood–around the Bay Area, but I’m clueless what it might be.
Jim, if I survive the next two days, I’ll be back on Monday to catch up on bubbleinfo. Mahalo for a great week of JtR videos. It’s so awesome to have you back. Aloha!
Re: ca renter #4, yes, many of the people now at the trustee sales walked away from huge debts. One of the groups I know of was behind a failed townhome development, and another was a hard money lender that was convicted of defrauding investors. They are the ones now making tens of millions of dollars every month.
Narrowly-attended? Have you been to the courthouse steps?
KK | January 16th, 2010 at 1:34 am
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Yes, absolutely. As a percentage of the entire pool of buyers in San Diego County, the people showing up at the courthouse steps represent a very, very small portion of those buyers. If the banks want to minimize their losses (which are now the taxpayers’ losses), then they need to take back these properties and make them available to the entire pool of buyers, especially those who need a mortgage in order to buy. There is no reason for the flippers to be making that money instead of the banks.
And I would abolish the NAR rule that banks cannot sell their own inventory. It’s none of the NAR’s business what the banks do with their own assets. Whatever saves the banks/taxpayers money is what should be done.
Thanks for your input, IRE. This is one of the things that’s really getting to me. No accountability, and the liars and gamblers are making money by taking the other side of their bad bets…and leaving the taxpayers and responsible buyers holding the bag.
Just another “free market” subsidized by the taxpayer. Nothing new to see here. Move on. Move on…