The rest of the tour, in search of evidence that some squishdown is causing RSF Covenant properties to head towards $1,000,000 – but not finding much. Is it just a matter of time?
Looking For Squish, Part Two
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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
Not sure about RSF, but I’m seeing nicer homes show up in the listings for more reasonable prices. Just yesterday a new listing for LJ came up that was under $700k. Whether it actually sells for less remains to be seen. Also saw a house in CV that I would actually think about if I had the $900k. Anecdotal evidence, but better than nothing.
I don’t remember ever seeing much in RSF for under $1M, even in the 90’s.
Genius…
The less than $700K La Jolla listing is located directly below the 2007 landslide on Soledad Mtn. Banks don’t like to lend on and insurance companies don’t like to insure properties like that.
Yikes, I should have known. The last sub $700k property I saw there was adjacent to a sinkhole.
That was only one example of the properties I’ve seen showing up in the listings there at lower pricing, but it was the only one I would have considered buying.
Via De La Sombrero….what’s will our counties identity crisis on street names? Did we run out of English words? No American icons, landmarks, or other to call our streets? We can’t stomach the simplicity of a A-Z streets, 1st street on up? I’m sick of these via de la, corte, avenida etc street names.
Do over!
My area has mid-1990s comps in the $700ks, in the Covenant. This was the bottom of the RE cycle trough, though. Take a comp from 1996/1997, adjust for inflation, and you should have a reasonable “absolute bottom” value of a house in the area. It could overshoot beyond that to the downside as much as the overshoot to the upside, but I think that if it happens, it will be a one-year phenomenon, and such pessimism should correct real quick.
Genius is referring to this one:
http://www.sdlookup.com/MLS-100029957-5688_Desert_View_Dr_La_Jolla_CA_92037
There was another one on Desert View, cliff-side, that sat on the market for a year. It was originally listed at $1.1M, then $1M, then $950k, then dropped into the $700s. Lots of sqfootage, but steep dropoffs to your death off the balconies. Maybe you are careful, but Mt. Soledad might buck you and your house off sometime in the future.
You can own the land, but you can’t rebuild on it when that land is all over Interstate 5 one day.
I got your squish right here. Contingent status on day zero, sub $300 on the coast. Glad the indictment made an impact.
http://www.sdlookup.com/MLS-100030262-7357_Portage_Way_Carlsbad_CA_92011
I hope that Portage buyer finds out about the couple of dozen lawsuits that have been filed in there….all by individual homeowners so the HOA doesn’t tell buyers about it.
Via De La Sombrero….what’s will our counties identity crisis on street names? Did we run out of English words?
I mean it’s so strange to have these names in a city called San Diego, in an area called La Jolla.
JordanT – good point. We need to rename those too.
“Ron Burgundy: Discovered by the Germans in 1904, they named it San Diego, which of course in German means a whale’s vagina.
Veronica Corningstone: No, there’s no way that’s correct.
Ron Burgundy: I’m sorry, I was trying to impress you. I don’t know what it means. I’ll be honest, I don’t think anyone knows what it means anymore. Scholars maintain that the translation was lost hundreds of years ago.
Veronica Corningstone: Doesn’t it mean Saint Diego?
Ron Burgundy: No. No.
Veronica Corningstone: No, that’s – that’s what it means. Really.
Ron Burgundy: Agree to disagree.”
Get a little credit freeze up in Europe and the US will see a double dip for sure. I’m thinking late summer early fall panic will hit the upper end.
JTR,
You mentioned the Bridges. Seems like demand is strong there. 7 homes have sold for over $2 mill in the last month or so. I think that’s a great community, but overpriced.
Anyone know if there’s going to be another phase of development at the Bridges? Original plans called for 235-265 homes.
FrsfBuyer – Having done a handfull of custom homes in The Bridges I too am a bit surprised that it has held as strong as it has. My guess is that an exceptionally high % of custom owners have really strong financials and were not financing dependent, thus have not been forced to sell.
One example, of many, is a buyer of mine was paying all cash in 2006 for a $4.2mm home (it was a 5th home!!). I never saw him drive the same car twice.
Another client has been received unsolicited offers on his custom home (about 20) but has zero intentions to ever sell…
It is a great community for the “RSF downsizer”…but not for families with kids!!!
ps: there is another approved phase of lots going in but expect them to be priced VERY HIGH as there are not too many. I’d expect $1.75mm MINIMUM.
This is all profit for the owners so there is zero rush/need to sell at market or in a hurry.
They’ll be extending the road which currently ends at the top of the hill in the ‘estate lots’ area.
Clearfund, thanks for the info. Next phase at the Bridges must be near the 12th hole of the golf course. What is a ballpark figure for the price per square foot to build there? I know it’s dependent on many variables, but what would be an average?
And I have also heard that it’s not kid-friendly, but not sure why. The snootiness of the country club would not necessarily deter me. There must be some down to earth people there. In any case, I’d be looking to buy in a few years, when the kids would be a little older and better behaved. Maybe the timing of the new lots will work out then.
frsfb – For a ‘standard’ rsf custom home in the 5-7k sf range I would broad brush $300/psf for hard const costs (including pool, landscape, contractor fee, etc).
This will get you a very nice home with lots of personalized details, hewned beams, custom tile work.
You can skinny it down towards $200/sf but your exit value would drop at least 1:1 if not more.
Kids: not kid unfriendly due to ‘snooty’ or snobs, its just an empty-nester demographic. Thus kids are very sparse and usually are there visiting the grandparents.
conversely, neighborhoods like Santaluz (not trying to compare the real estate investment) are full of kids and families. The neighborhood is very family focused.
Just for people at two different points in life.
ps: you could also run your budget up to $500-$1000/sf if you wish to go crazy with imported items, fully customized finishes/lighting, etc.
Most clients were building in the $300-$350/sf
JtR, your theory about flight to The Bridges makes sense. Cielo may see the same deal someday, given the quiet, the views, and golf.
Clearfund, I appreciate your comments. Will have to keep them in mind for the future. BTW, I have toured several homes in the Bridges and Rancho Pacifica. Some of these homes did not seem as large as the reported square footage. Are some people including garage space in the SF. These homes had between 3-5 car garages.
Aztec and JtR, would love to hear the theory on the flight to the Bridges. I think Cielo is beautiful as well, but thought that Cielo did not have golf.
FRSFB – My guess is that the homes were likely what the SF says. The larger homes can sometimes not seem as big as you’d think given the very large common rooms/halls which eat up a terrible amount of SF.
Never seen garage SF included in the home, however, I have seen covered loggias/patios tossed into a livable SF.
If the garage was included then the question to ask is whether the SF is “livable SF” or “under roof SF”.
No golf in Cielo, just ‘adjacent’ to the crosby.