Barratt is the owner of the lot that’s designated for the low-income house. The reason it’s just sitting there is because they are in bankruptcy court, which has to wrap up sooner or later. Bank of America doesn’t have anything to do with the lot being highlighted, but they are actively soliciting offers for Nantucket 2.
We’ll have more on this story:
Jim Klinge
Klinge Realty Group
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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
we should give the government more control. they are so responsible with all their power.
whiner vote = that city dude that has taken the situation hostage. the city could care less about all this. they have no motivation or incentive to fix this siutation. their stand is that they are just the rule makers and enforcers, no matter how stupid the “rules” are that they make up.
i love how we have affordable housing in a beach community. most of us work all our lives to earn that privilege to live here.
government power run amuck…..
My parents live on Wilstone, which is right around the corner. Every time I go to visit…I always have to check out Nantucket! What a disaster.
I remember when they were selling them. It was all roses and $$$….they said to me that the houses would never go down in value. So much for that.
The thing that gets me is how small the lots are for how big the house is! It just doesn’t look right. Also, the build quality is not that great. It was very underwhelming….the layouts are strange…small roooms that you can’t really use.
As for Nantucket 2? I can tell you right here and right now that teenagers and other undesirables use drugs in those abandoned homes. Apparently, it’s a good place to smoke a joint. I’ve seen it.
As your driving into Nantucket one, the third house on your left is the strangest of all. The kitchen/family room is upstairs with the master down. This one is very ugly and in your face and the lot is TINY. And you overlook this abandoned lot with this awful ‘home’ in the middle of it. I don’t know who lives in that house, but they’re a strange bunch. Hippies and the like. But you do have a peek ocean view and nice sunset views…just ignore the lot behind you.
Nantucket…always fascinating.
I prefer Jim Kunstler’s term for “train wreck”, although it’s not PC or PG by any means.
It seems to me these BMR designations result from a contract signed between the City and the builder. A bankruptcy court might be able to nullfy the contract.
A new developer could come in and build market rate houses on these lots. To mollify the City, the builder could negotiate building the BMR units in a much less desirable location but still within the city limits. The City gets to count the BMR units toward their affordable housing goal and the developer makes a nice profit. The City also gets to tell everyone that it’s not their fault, because the bankruptcy court did it.
That ego/ecocentric idiot working for the City of Encinitas needs to have his ideological head examined (and I hope he’s reading this).
He’s holding out for an affordable lot to be built while the project’s half remnants are wasting away into potential venues for crime and other unsavory activities. How much is that going to cost city coffers to police? Fire hazard as well?
Heck, they ought to designate the unfinished properties as sanctuary housing for illegal aliens — uhhhh, guest workers — allowing no more than 30 people per home. I’m sure the “enlightened”, liberal neighbors would welcome this kind of “diversity”, wouldn’t they…?
I haven’t seen “hippies” used as a slam in a while. LOL. It’s like a bad acid flashback.
common-sense – That low income lot has ZERO to do with the unfinished Nantucket 2 project. Completely different projects/ownerships/restrictions/etc. its restrictions are tied to the Nantucket 1 project.
How come no one buying a $1mm+ home thought to ask about the lot, read the disclosures, and use their ‘common sense’ when they made the biggest purchase of their life???? Wait, I know, real esatate only goes up and everyone was a genius investor 4 short years ago and could do no wrong.
Homeowners should go buy a weedwacker and go to town, seems easy to me….but I bet they don’t even know how to start one up as its likely beneath their status to maintain their own yards.
Except I’m sure the hippies can cultivate some greenery of their own.
Senate leaders late Tuesday cleared the way for Sen. Olympia Snowe, R-Maine, to offer an amendment allowing mortgage bankers to originate residential loans to small business owners with flexible payment schedules that reflect seasonal changes in cash flows.
clearfund wrote: “That low income lot has ZERO to do with the unfinished Nantucket 2 project. Completely different projects/ownerships/restrictions/etc. its restrictions are tied to the Nantucket 1 project”
Ahhh, so the city is only tying up the C of O for the Phase I leftover, but Phase II is a developer BK?…in which case Another Investor offers an alternate, viable solution.
Oops. Public apology offered.
The city just needs to let someone move into the empty house and fix it up. ( the owner if he is not bk yet ) Then they need to cancel the low income housing project because the state and the banks are broke at the moment. Then the state should seize the second development and bulldoze it and sell the land. Problems solved. Leaving things the way they are just leaves Encinitas residents in blight.
Simple, give it to Habitat for Humanity – they`ll get it built in a matter of weeks.
Look at Nantucket’s parcel map and zoom in close (such as on redfin). There are 9 lots on each side of the project, each half has a tiny/BMR lot. On Nantucket 2, a 4th large slab is poured, but framing did not start. Why? The City must have required the 4th home of 9 to be the BMR to try and avoid this N1 problem. On the parcel map, the tiny N2 lot faces Sheridan Road and appears to be a rear yard on the first shell wrapped in plastic. That’s no yard – that’s the 2nd BMR lot.
Offer whoever holds the affordable housing lot a chance to build the affordable housing. If they don’t agree, seize it by eminent domain and give it to the owner of the house with no Certificate of Occupancy. Tell them all they have to do is build the affordable unit(s) and they’ll get their CoO. Or they can sell the package (affordable lot and house with no CoO) to someone who will.
Cube-The bankrupt home builder still owns the affordable housing lot. Apparently, the bankruptcy is still in the courts. The problem here is, the cost to purchase the lot plus construction costs will almost certainly be more than they will be allowed to see the affordable house for. I doubt the city will eminent domain the lot to help the owner of the existing house.
The bankrupt builder left a lot of subs / suppliers in the wind, who should now have mechanics liens loaded up on the two BMR lots. The BK trustee may not be able to sell the lots without clearing the liens, but who has priority in BK court – lien claimants or BA creditors? Subs would need a ‘relief of stay’ from BK court to forclose on the BMR lots. Geotpf is right, though, after the cost of building the BMR home (probably a modular unit) the lot has no ‘real’ value except to Joe Schmo that cannot move into the former model he bought on the courthouse steps and whoever ends up buying N2 from the bank.
The **investor** (from what I understand) who bought the house lacking the the COO on the courthouse steps is NOT owed anything by anyone. That’s one of the risks of buying at the courthouse steps, and it was the buyer’s job to do due diligence on the property.
If the investor wants to move into the house or flip it, he can buy the low-income lot and build a house (at a guaranteed loss). Still, he will probably end up breaking even or lose a few hundred grand on the total deal. Nobody owes him a profit.
The city needs to enforce the rules regarding density bonuses or else every builder/developer will pull the same stunt — build all the profitable houses, then BK when it comes time to build the affordable unit.
Of course, the city could just deny all requests for density bonuses, if that’s what the developers/builders really want.
1) Anyone who lives in that neighborhood…if you are reading, get a reassessment of your house now! Lower your property taxes and punish the stupid government workers who threw out their common sense long ago.
2) Who was pushing for more government involvement in our lives? Look at this scenario…designed to make things “fair”, ended up screwing a few people.
Jeeman,
You’ve got good principles but don’t know the story.
Who was pushing for this this? David Meyer of the Ecke family and Barratt American ally. Meyer did the subdivision map and Barratt built the houses. They love the low income density bonus law. It’s just like monopoly the game. They get a big enough parcel and they can build hotels. If you own just one lot you can’t. The cover story is the low income housing unit, which cost peanuts in comparison to the revenues generated by adding additional full market rate lots to the subdivision.
They did not have to take the density bonus.
Barratt and Meyer already pulled out all the money from the density bonus. Meyer got more rich and the city staff is getting blamed.
Barratt president and Meyer are huge players in the development machine. The regulation loopholes they created is their Frankenstein and they LOVE it, don’t swallow their propaganda.