Congratulations to SD_Coastal for guessing that $929,500 would be the eventual sales price of the CV REO featured here:
https://www.bubbleinfo.com/2011/08/31/cv-contest/
It sold for $928,000 – you win the Chargers tickets!
Plus SD_Coastal was the first guesser!
Here is the listing, and see all the guesses in the comment section:
http://www.sdlookup.com/MLS-110049459-10924_Derrydown_Way_San_Diego_CA_92130
Jim Klinge
Klinge Realty Group
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
CA DRE #01527365, CA DRE #00873197
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
$899,999 CVwatcher
$900,001 CAIHOLE
$905,000 naxos41
$918,000 fcc
$929,500 SD_Coastal
$935,000 kwaping
$940,000 Jay the Realtor wannabe
$945,000 birkoff222
$951,000 big perm
$956,000 Spider
$957,000 JG
$958,000 LM
$959,000 GameAgent
$964,890 Profhoff
$967,000 FreedomCM
$968,500 ocsecondhome
$974,000 mcjdawg
$975,800 pepsi
$979,500 SDNY
$980,000 LCJim
$981,103 College Joe
$985,000 mtb
$986,500 Susie
$988,800 Oracle
$989,000 pwheat
$989,500 JRB, clearfund
$993,000 Dave E
$994,500 stryker88
$999,500 livinincali
$1,000,000 casanova
$1,007,555 Stephen Russell
$1,010,000 KO
$1,019,000 MDS
$1,020,000 Jim T
$1,021,000 Local Boy
$1,025,000 IRE, Patriots fan
$1,029,000 Gregory
$1,035,000 Myriad
$1,043,000 Mojo
$1,045,000 Jerry
$1,050,000 looking
$1,055,999 Records clerk
$1,058,000 Michael
$1,065,000 Kingside
$1,075,000 Justin D
$1,075,500 Peavy
$1,080,000 dejams
$1,085,000 jocknomore
$1,099,000 DNR
$1,100,000 lukemalien
$1,105,000 rodeman
$1,111,111 swm
$1,113,000 Goldwater’s Ghost
$1,116,500 Daniel (theotherone)
$1,120,000 mybleachhouse
$1,123,000 Jason
$1,129,995.95 Nate TG
$1,143,687 bubblenerd
$1,150,000 Mojo
$1,151,000 AH
$1,200,000 bobfather99, Shea
$1,239,000 Ray Ong
$1,250,000 David
$1,300,000 Water’s End owner
The list price was $898,000, so only $30,000 over list.
The agent said he had 7-8 offers, and because of deferred maintenance it didn’t go any higher.
The smaller house next door closed for $90,000 more in August, but in his mind it was nicer.
He wouldn’t win on The Price is Right. I guess this is more like hand grenades and horseshoes.
Everyone that guessed over the $929K must be a home owner.
So why do you think it really didnt sell alot more than list as you thought it would? Is the market changing?
Yep people that guessed over 1M and are active homebuyers should come get input here first 😉
Is the market changing?
I don’t think so.
The buyers are smart and accurate with their valuations – and are being conservative. There are many looking, and will step up and offer a fair price.
The demand for well-priced listings is there, evidenced by the 7-8 offers. But nobody is overpaying – buyers will pay a reasonable price as determined by them.
As much as it seems obvious when you look at the market with an open mind; most sellers ignore it, or refuse to believe that their OPT price could be wrong.
There is an additional element in any sale – the listing agent. I don’t know this guy or his skill level, but when you have 7-8 offers a great listing agent should be able to pit them against each other in a way that one of them will pay 5% to 10% over. But maybe these buyers were all super-sharp in their commitment to only pay a fair price?
Senate approves raising Fannie/Freddie limits.
Game on!
Now listed for rent on Zillow at $5250/mo? I don’t really get it… where’s the return? Banking on appreciation?
Oh Noooos.
http://lansner.ocregister.com/2011/10/22/housing-market-will-get-much-worse/137313/
Go to the linked 2007 article and read the comments.
Him and Shiller ought to go buy an ivory tower together.
Schiff + Shiller: Foreclosures = bad market.
JtR: Foreclosures = good market.
Interesting article about the 1%.
http://online.wsj.com/article/SB10001424052970204346104576638981631627402.html?mod=WSJ_LifeStyle_Lifestyle_5
“Is the market changing?”
I don’t know the CV market at all but an interesting question is how much would have this house sold for 6 months ago … 12 months ago? If the answer is “quite a bit more” then I think the market is changing and it is not good news for sellers.
The house next door selling for +$90,000 was an outlier, and normally could have caused buyers who were in a hurry to pay more.
Has the market changed in CV? It is more deliberate now, which penalizes the inferior properties. They don’t get any ‘frenzy benefit’, where buyers overlook defects in the exuberance of securing a home quickly.
This is the access road for the tract, so only the comps on this street are apples-for-apples:
7/10: $993,000 for 3,094sf
1/11: $975,000 for 3,094sf
8/11: $1,018,000 for 3,094sf
10/11: $928,000 for 3,476sf
With 7-8 offers, it should have sold for more. The market hasn’t changed much if that many people wanted it, and with the right technique it could have gone higher.
http://blogs.smartmoney.com/advice/2011/10/20/are-home-sellers-caving-too-soon/
Home sellers who decide to bite the bullet should focus on pricing their house at a realistic and appealing price, says McCabe. Even in the most ideal situation, they should consider pricing the home at the average price of similar properties in the area. To attract immediate attention, pricing slightly below the average asking prices is likely to bring in more buyers and move the home faster, he says.
Little by little, the word is getting out.
Serves me right for guessing high.
It’s a bit of a comp killer. It may be inferior because of deferred maintenance but it’s going to be hard to ignore a 10% reduction in price/sf. The 6 or 7 other buyers that didn’t win are going to be looking at this one to justify their low offers are in the right range.
I agree there’s a cultural change in buyers, partly thanks to the internet increasing the availability of information. I remember in the old days almost all your information comes from the realtor, but today you can go to any number of sites and see sales histories and get a very good idea yourself of what the house you want is selling for. This is something beyond just people being careful with their money in a recession – it’s the reason why I waited out the bubble before buying.
Same thing happens when buying a car. People these days research a lot online both to compare cars and read reviews. It used to be just a few physical magazines like Consumer Reports but now you have all this information at your fingertips for free.