Shouldn’t Matt Hall sell his downtown properties or resign as mayor so the regular political process can be conducted?
There will be no moratorium on development in the Village and Barrio.
The City Council decided to not move forward with the proposal brought forward by Councilwoman Barbara Hamilton during its June 25 meeting after receiving feedback from city staff and discussion regarding a lack of standing to make such a move.
Cities can adopt interim, urgency ordinances prohibiting uses in conflict with a general plan, specific plan or a zoning proposal. However, a four-fifths vote is needed, along with a finding of a current and immediate threat to public health, safety or welfare.
But since Mayor Matt Hall was recused due to financial interests in the Village and Barrio, a majority vote would have been required for a moratorium.
However, Hamilton, who represents District 1, which covers the Village and Barrio, received approval to bring back five items for further discussion for the council workshop on July 9 and approval for a portion of the Village and Barrio Master Plan on Aug. 20.
Those issues include housing and parking in-lieu fees, historical preservation, permitted uses and “decision-maker definition.” The council also passed a decorative lighting study in the Village, 4-0 (Hall was recused).
Hamilton said she her goal was to take a step back from the construction and ongoing redevelopment to assess the area’s needs on a larger scale. Specifically, affordability was a big topic of discussion as the council attempts to incorporate more affordable housing in those neighborhoods.
“As development continues, and we continue to offer housing in-lieu and parking in-lieu, both of these fees haven’t been reviewed in years,” Hamilton said. “These don’t seem to incentivize affordable housing or mobility solutions for the community. The end goal is to take advantage of the authority that we have as council to restrict the use of housing in-lieu and parking in-lieu.”
A majority of speakers, meanwhile, railed against the proposed moratorium saying it would only increase rents and negatively affect businesses.
Michael McSweeney, senior public policy advisor for the San Diego Building Industry Association, did not hold back against the proposed moratorium.
“This is something unprecedented,” he said. “In the middle of a housing crisis, we want to talk about stopping. That’s the equivalent, in my mind, if there’s a wildfire we’ll talk about water rationing.”
He, along with others, also questioned where the danger to public health safety was to call for a discussion about a moratorium, which must have been proven to enact an urgency ordinance of 45 days.
Brendan Foote, who does adaptive reuse, said the council is missing one point regarding affordable housing, the cost of land. A starting point of $200,000, for example, to purchase the land, plus thousands of dollars for city fees and then construction costs make affordable units unattainable.
“I love and respect the charm of Carlsbad Village and don’t see it going anywhere,” Foote said. “We want to see positive change. We need to get a little more creative and look at this dwelling units per acre.”
Hamilton then pivoted away from the moratorium and asked for her other concerns be prioritized before the council.
Councilwoman Cori Schumacher said it was not prudent for a moratorium, as it is up to the council how to apply the tools at their disposal for development. Also, the council does not have final authority over projects in the Barrio under the new master plan.
The Planning Commission has final say, but the council will consider taking over final approval when the master plan returns on Aug. 20.
The history of housing discrimination is getting a lot of attention these days, and rightfully so. If you, or someone you know, wants to contribute, KPBS is looking for stories:
KPBS is doing an investigation into the legacy of “redlining” in San Diego.
This is the historic practice of excluding minorities from certain neighborhoods through regulations on mortgages, leases and home purchases. We’re looking into the impact this practice has had on the economic prosperity of different neighborhoods in San Diego.
Some families in San Diego may have benefitted from this history, through no fault of their own. Others may have been hurt by it.
If you or your family has any connection to this history, or if you know someone who does, please reply to this email or send an email to email@example.com “Redlining” in the subject line.
Thank you for sharing your knowledge and becoming a trusted KPBS source!
There was actually a red zone in La Jolla around the Taco Stand on Pearl!
The market sure has been good to Ernie – hope he never has trouble paying the bills:
County Assessor Ernest Dronenburg announced Thursday that the county’s 2019 assessed value of taxable property is almost $575 billion, a nearly 6% increase over last year.
It’s the fifth consecutive year the assessment roll has increased by 5% or more, according to Dronenburg, who also serves as county Clerk and Recorder. The increase is likely due to improvements in the housing market, business property values and the economy in general, he said.
“Increases to the business roll are strong indicators that business owners are optimistic about the local economy and are making capital investments in property, plant and equipment,” Dronenburg said. “This year, 85% of San Diego’s taxpayers are protected by Proposition 13’s provisions, which limits their property increase to only 2%.”
According to Dronenburg, the net assessed value roll is $551.9 billion after deducting various property tax exemptions. About 1% of the net assessment roll, $5.51 billion, will be used to fund public facilities and services like schools, law enforcement departments and parks.
The assessment roll is composed of more than one million parcels of land, more than 50,000 businesses, 13,000-plus boats and nearly 2,000 airplanes and other aircraft.
Residents will be able to view the assessed value of their property assets on July 1 by visiting the Assessor/Recorder/Clerk’s website, sdarcc.com, or by calling Dronenburg’s office at 619-236-3771. In addition to assessed values, residents also have access to applications for property tax exemption.
We were talking with some friends last night about how much financial support is going towards kids, and how it will affect real estate in the future.
On one hand, it’s the Bank of Mom and Dad, and helping to keep the market afloat when funding home purchases at these lofty prices for those kids with regular jobs.
However, for those kids who never get to the point of financial stabilization, the selling of the parents home will become the lottery ticket to solve their money issues.
I suggested that this is where the ibuyers could do the most harm by taking advantage of people who want and need a quick sale and who aren’t that familiar with the values.
When we were in Las Vegas for that one-day vacation, I saw more than one ibuyer ad on TV, and they were very enticing. The kids who have been strapped for years and then inherit their parents’ house might jump at the chance to get their hands on quick money – and likely leave some on the table.
Will anyone step up to protect the unsuspecting? A new challenge/opportunity for realtors!
We featured this bank-owned property earlier as an online auction (which didn’t work out).
They did find a cash buyer – I hope they got in the house to take a look around!
This is a typical example of an REO sale these days. The former owners paid $1,650,000 in 2007, and used a 31% down payment. The original $1,137,500 mortgage was funded by World Savings, and undoubtedly it was a neg-am loan.
It looks like the buyers stopped paying in 2010, but instead of foreclosing and losing a truckload, the bank (Wells Fargo, who bought World Savings) just waited until they knew market value was high enough that they wouldn’t lose money:
The price at the trustee’s sale in November was $1,365,016, and they sold it traditionally for $1,350,000. It means that after paying closing costs, the bank received 100% of the principal back, plus around $150,000 of the neg-am interest that accrued.
These days, banks are only foreclosing once they can make money on them!
“Since last year, several forces have helped increase the market potential for existing-home sales,” said Fleming. “House-buying power, driven by falling mortgage rates and rising household income, contributed to a gain of 183,000 potential home sales compared with one year ago. Compared with May 2018, rising house prices also contributed positively, increasing the market potential for home sales by 41,000.
“Additionally, loosening credit standards boosted the marketing potential for home sales by more than 60,000 sales over the last year. Some modest growth in new-home construction also added 1,000 potential home sales,” said Fleming. “Finally, the growth in household formation, as millennials continue to form households, contributed nearly 81,000 potential home sales compared with a year ago. Despite all the positives, the market potential for home sales remains nearly 80,000 units below the level of a year ago.”
Unprecedented Homebody Era is Here
“Collectively, the aforementioned market forces contributed to a positive gain of 366,000 potential home sales, but it was not enough to offset the loss of 446,000 potential sales due to the impact of rising tenure. The average tenure length, the amount of time a typical homeowner lives in their home, has increased dramatically in the last year,” said Fleming. “Since existing homeowners supply the majority of the homes for sale and increasing tenure length indicates homeowners are not selling, the housing market faces an ongoing supply shortage – you can’t buy what’s not for sale.
“Before the housing market crash in 2007, the average length of time someone lived in their home was approximately five years. Average tenure length jumped to seven years during the aftermath of the housing market crisis between 2008 and 2016,” said Fleming. “The most recent data shows that the average length of time someone lives in their home reached 11.3 years in May 2019, a 10 percent increase compared with a year ago.
“Two trends are driving the increase in tenure length. The majority of existing homeowners have mortgages with historically low rates, so there is limited incentive to sell if it will cost them more each month to borrow the same amount of money from the bank,” said Fleming. “While mortgage rates have come down compared with last year, they are still below the 3.5 percent mortgage rates of 2016.
“The second trend influencing tenure is seniors aging in place. A recent study from Freddie Mac shows that if seniors and adults born between 1931-1959 behaved like earlier generations, nearly 1.6 million housing units would have come to market by 2018,” said Fleming. “Improvements in health care and technology have made aging in place easier, which has meant fewer homes on the market.
“So far in 2019, the market potential for existing-home sales has benefited from lower mortgage rates and rising household income, all contributing to stronger house-buying power,” said Fleming. “Surging consumer house-buying power coupled with rising household formation has resulted in strong demand for homes.
“Yet, today, we are in an unprecedented homebody era as many existing homeowners continue to feel rate-locked into their homes and seniors continue to age in place. Looking ahead, more than half of all existing-homes are owned by baby boomers and the silent generation and they will eventually age out of homeownership,” said Fleming. “But right now, housing supply remains tight – you can’t buy what’s not sale — and market potential is lower because of it.”
Jim the Realtor is legit - I interviewed three brokers; he said list price should be $100,000 higher than the other two brokers; listed it with him and had all cash (no financing) offer in two days, five day contingency period, closing in two weeks - and it closed at his recommended list price. I could not recommend anyone more than I recommend Jim the Realtor.
When we moved to San Diego in 2005 we rented a big house on Mt. Soledad (La Jolla) with 180 degree ocean views for the same payment as a mortgage on a dump in Chula Vista. Clearly something was wrong. Yet, the media was full of the usual happy-talk nonsense, so I was glad to find Jim's blog. I've followed his honest assessments and data since.
We decided to sell and move to AZ at Thanksgiving. Dec. 1st we met with Jim to sell our home. We closed today (29 days later). Jim orchestrated a feeding frenzy -- we had 25 showings in 2-1/2 days, multiple offers, and sold for well over asking price. I'd say he earned his commission! We have owned and sold homes in 5 different States always using experienced, productive, full-time realtors. Jim outshines them all.
You don't decide to sell and close 29 days later over Christmas (with COVID lockdown) without some miracles. Donna was amazing at performing lots of those miracles and ensuring that everything was done right and on time. They are a terrific team with a very responsive and professional network.
Where do we begin..2020 has been a year for everyone. When COVID hit and shut down both my husband and my businesses, we were left with a mortgage and very little income coming in. We were stressed, scared and felt stuck. We made the hard decision to sell our home and move out of state. We contacted the Klinges' and spent a good hour going over what we hoped we could accomplish. Jim and Donna came over with comps in hand and suggestions on improvements to get our house ready for the market. It was overwhelming to think about, but Donna was there and one step ahead in every scenario. Basically we just approved what they suggested and Donna handled literally everything. We placed our house on the market and within the first day we had multiple offers well above asking price! We couldn't believe it. We were overjoyed! Jim countered the offers to weed through them, and everyone came back with way more. It was amazing, and we are ?? sure it was because of the staging and repairs the Klinges suggested we do.
Due to unforeseen dishonesty from the buyers lender, we hit a big hurdle when trying to close. We had already moved out of state and were shocked when three days before closing the lender dropped a bombshell on the buyers and us. However, Jim and Donna handled it like veterans, not afraid to play hard ball and represent their clients. After a few phone calls with us, and several between Donna and the lender, they had a plan B-Z to make sure we were taken care of. In the end we closed with even more money than we ever thought possible and with very little work from us. The Klinges handled this entire "2020" worthy event with the utmost professionalism and did everything in their power to not only make this as smooth as possible for us, but we also walked away with more money from the sale of the house than we ever hoped for. After working with Jim and Donna, you don't ever use anyone else. They are hands down the best team to represent you in any scenario.
Working with Klinge Realty Group was a great experience! They are very responsive, professional and knowledgable about the real estate market! I would definitely recommend Klinge Realty Group.
Jim and Donna Klinge made the sale of our condo extraordinarily easy. They know the market and gave us sound advice backed by details and very considerable experience, reflected both in the initial pricing and subsequent negotiations. They work together as a team and are always available to talk. We had a few challenges with our property and they were able to coordinate the resolution to everything, including items that I would not think would ordinarily be their responsibility to handle. They made the whole process effortless on our part. They are folks with high integrity and we cannot recommend them highly enough.
Review for Member: Donna Klinge
I cannot believe there are no reviews of Donna yet, ugh!! She is the secret sauce of the Jim Klinge/Donna Klinge combo! I will touch on Jim here, but Donna is why I'm so totally loyal to these two (no offense to Jim :)).
I consider myself a rather savvy buyer/seller. I've bought/sold 7 times in about 15 years. On the buy side, Jim is the PERFECT combo of: completely digitally savvy (he will pull data all day long until you feel comfortable with your chosen house, area, school district, anticipated appreciation rate...anything!), he's super well respected and known in the area by other agents, an amazingly cool but strategic negotiator, is totally devoid of desperation for a sale/commission, and more.
Then once you get into contract phase, Donna literally handles every last and final detail in a concierge-like manner -- totally shielding you from the daily back and forth, noodling and annoyances of the buyer's requests. She solves it ALL; it's miraculous what that woman accomplishes over and above what is even expected in a buy/sell transaction.
On the sell side, Jim and Donna do the same, but even moreso. Donna in particular truly takes everything off your plate: she'll manage getting the house painted, the carpets replaced, she'll go on site (as she Jim both did for me when selling our rental properties) to work with the renters and make sure the house is ready to show -- freeing me to have to take time off of work to do so. They work with A+ integrity, too, so you know you are serving all parties fairly and lawfully throughout.
A home purchase/sale is the most considered you'll ever make. HIRE A SAVVY AGENT, not a friend!, and get what you need out of the transaction. Jim and Donna are our agents for life.
Jim and Donna Klinge are by far the most professional, personable and responsive realtors I have ever worked with. They provide VIP concierge level service in every area of the process of selling your home. My home was marketed so successfully that we received an offer the day after our first and only open house. Thanks to Jim's pricing and negotiating, our house is now the highest sold in our community. Jim's vast experience means he has worked with several realtors and knows the market all over north county. Donna is AMAZING in processing everything in the transaction. She scheduled trades people to work on the house in preparation for the sale as well as the repairs needed before closing. She communicated clearly every step of the way about what would be happening. She took the weight off my shoulders for the whole process. I will always use Jim and Donna for my future real estate needs and I whole heartedly recommend them to anyone buying or selling a home.
Jim and the team at Klinge Reality are without a doubt the best in the business! Not only was Jim helpful and extremely knowledgeable, he was patient and determined to help me find my first home. Jim and his team have been in the business for many years, and it shows. Jim is a wealth of knowledge and was my biggest proponent despite the temperature of the competitive market. I ended up getting the perfect property in my dream neighborhood all thanks to Jim. From the day my offer was accepted, Donna was a real lifesaver. She was extremely helpful, responsive, and knowledgeable when it came to every minute detail, and held my hand through the process. As a first time home buyer I had no idea what the process would entail, but Donna curtailed every concern I came across and made the escrow process feel seamless. Jim and Donna provided me the best home buying experience, and I am very grateful for all they did for me. It was truly a pleasure to work with Jim and Donna and I am already looking forward to the next time we work together!
Review for Member: Richard Morgan
Richard is an amazing realtor! He has high integrity and genuinely cares about his clients and their needs. Richard paid close attention to what I was seeking in a home and was very patient in our search to find it. I would highly recommend Richard and will use him for future transactions. Truly a different kind of realtor experience!
Could not be happier with my experience with Jim and his team. He helped me sell a very unique and challenging property. Throughout the entire process he was always available, honest, transparent, trustworthy, and always put my interests as a seller first. A (rare) true professional! During close of escrow Jim went above and beyond to complete the deal. It would not have been possible without his experience, fantastic team, and pure dedication. Highly recommended!
Thanks Jim and Donna Klinge!