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.
Wouldn’t it be ironic if by the time the sellers get the message to lower prices the buyers disappear because they think a new tax credit might be coming.
http://www.calculatedriskblog.com/2010/08/lawler-hud-secretary-may-have-just-made.html
Wow. I wasn’t expecting to actually see such a sudden dropoff in prices, but there it is!
We’ll take a closer look, we think it is the median list price psf they are charting (in red).
It could be impacted by fewer small homes listing?
Does Redfin have a problem…how could encinitas drop from $400/sqft to $250/sqft overnight? or are these just new listings?
Why is list price line trailing the sales prices line in time?
If this data is as good as it looks and can follow the trend for 2 months, I am buying.
Its worth the wait.
Either way for the most part sellers are beginning to take note…you’re not going to get those pie in the sky prices anymore.
List price trailing sales price in some areas is location and quality. Buyers will pay for the premium location and quality, even if the cost of the home is higher than the list price.
Anyway we could see those for RSF and Del Mar?
As much as I’d love for this to be true, I’m not seeing this pricing trend in real life. Is there something I’m missing? Maybe all the higher-end properties are being pulled off the market?
Agreed, and it must be in part due to how goofy the median of anything is.
What do you get when the ppsf is lower?
Typically it’s the big warehouse-type homes, the 4,000sf for $950,000 = $237.50-per-sf types.
These are all from redfin, I need to do my own checking. If it’s wrong, it’s Redfin’s fault 🙂
I’m pretty sure it’s a Redfin glitch. If you search for active house listings in 92024 directly instead of trusting the chart, you see 269 listings with a median ppsf somewhere around $375. SDLookup reports the median ppsf of $371.
I checked, and agree with nameless, there is little drop off lately in the median LP of any of the zip codes listed.
All listings, and new-listings-only have very similar medians in all zips.
Redfin, what say you?
But then again, I’m trusting that SandicorMLS is accurate, which isn’t a given.
Stick with the videos?
I believe there’s something wrong with the extremely recent data on Redfin’s charts. It also appears that the number of listings they are tracking drops to zero, screwing up the numbers.
Beware, RedFin was having data aggregation issues. Charts in my area were pulling data showing zero units for sale. Which is not the case. Don’t know if any similar issue on list prices is being corrected.
Sorry for the confusion regarding the graphs. We are experiencing data issues on the Redfin.com site that should be resolved shortly.
Until the issues are fixed we’ll be posting a notice to those pages alerting everyone to the issues.
Again, apologies for the confusion, and thanks for the keen eye regarding the data.
I’ll be sure to post another update once the data is fixed. For more information check out our forums:
http://forums.redfin.com/t5/Website-Questions/Heads-Up-Charts-amp-Graphs-are-Busted/td-p/127067
Michelle Broderick
Redfin.com
Richard (#8) – I can understand that list price will be higher/lower than sales price. What I was trying to ask is why does sales price have data for August, but it looks like list price data ends in July? Thanks.
Yow, now if those stats were right, half the readers of this blog would pass out with joy. I would be personally worried about Shadash!
But there’s no way those numbers are even remotely close. I’ll be curious to see the revisions.
Just a note to let everyone know that the graphs are back to normal.
Thanks for your patience and understanding!