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.
IMO it won’t happen in NC (flood of new listings) until there is a flood of new homes in NC with pricing that makes current owners want to move up.
On the other side the current mortgage rates are so low that it makes it easier to stay put (rather than downsize) or turn current home into rental.
Also with the low mortgage rates (and the new RM’s) it makes it an easier decision to stay put rather than down-locate, (yea I just invented that Term)
JtR:
With so little fresh inventory coming online in the past 2 weeks, I believe the property-ladder market is broken. Current owner households are afraid to list because they do not see any viable alternative, either “up-locating or down-locating” (ht Jiji), to move into. The proverbial fence can only hold so many sitters.
I think you have to throw in the property Tax Base as well.
If you have a pre-2000~ property tax base on your home, moving will mean a big tax increase.
Yeah, I think that Prop 13 is really doing a disservice to not just the market, but schools, police, fire, etc.
Legislators should make changes to Prop 13 to level the playing field a bit more for new home buyers and current home owners.
In other words, current owners need more incentive to get out of their homes. Prop 13 in it’s current form is forcing many of them to stay put.
Perhaps some sort of “grandfather” clause, where if you are a current home owner and you are purchasing a home in the same county, then you are allowed to keep the same rate and subsequent yearly rate of increase on the new home.
Kind of like transferable mortgages. This would be transferable property tax, sort of.
Eddie
That already exists. See Prop 16
I think you are referring to Proposition 60,
California homeowners 55 and older get a one-time chance to sell their primary residence and transfer its property-tax assessment to a new one, but the market value of the new home generally must be equal to or less than the market value of the old home.
also I think it only works in SD if both homes are in SD in this case.
Darn iPhone Auto correct. Yes I meant Prop 60. And Prop 90 allows for transfer between many countries in California including the main ones.