Thanks to the readers who sent in this article – and it makes you wonder how many offers any house for sale would get if listing agents didn’t shut down the showings so quickly:
CITRUS HEIGHTS, Calif. (KTXL) — A Citrus Heights home in a quiet cul-de-sac received 122 offers in one weekend on the market.
The 1,400 square feet home has three bedrooms, two baths and a spacious backyard with a swimming pool and an asking price of $399,900.00.
“People would think that it was underpriced. It was not underpriced. It was straight on with the comps,” said Deb Brittan, the listing agent for the property. “I had hoped, I thought, maybe if we get 20 offers that would be amazing.”
Barry and Anita Jackier are the sellers of the Citrus Heights home.
“We had this little friendly wager going. I’m like, ‘I think we’re going to get eight offers,” Anita Jackier said.
“I said 10,” Barry Jackier said.
They all underestimated the number of offers, by a lot.
They received 122 offers in one weekend.
“That’s 121 people who didn’t get a house. And that’s kind of heartbreaking in this market to think that there are so many buyers out there. And if you don’t have an agent that understands how to put a strategic offer in on a house and get it accepted, you’re just out burning your gas and a lot of emotional turmoil because of the nature of our market currently,” Brittan said.
Brittan says the highest offer was above $500,000, but that was not the winning offer. There were other factors to consider.
The couple is buying a home in Idaho.
They need time for the escrow to close on that home, so one big factor was they needed a buyer to wait until that happens before moving in.
“I’d like to think that the buyer that was supposed to have gotten the house, has gotten the house,” Brittan said.
The selling price of the home was in the mid-$400,000 range.
“We have so many great memories. And that’s going to be hard to let go of,” Barry Jackier said.
“But you know what I’m excited about is now another family gets to have a blank palate to make all those memories on. We are keeping those memories and they have an opportunity to start their own,” Anita Jackier said.
The couple said they felt called by God to move to Idaho and from that perspective, it’s a miracle they were able to find a home there.
“That house was on the market for three hours,” Anita Jackier told FOX40.
“So I don’t know that it’s going to slow down any time soon. And I don’t know what it’s going to take to slow it down,” Brittan said.
The intertubes go crazy about what a racist Eric Clapton was, but let’s consider the full spectrum.
He was such a heroin addict that he didn’t leave his house for three years.
He was so madly in love with Pattie Boyd that she finally divorced his best friend George Harrison and married him. They divorced ten years later.
Coming off the heroin trip, be became so addicted to alcohol that he couldn’t finish a concert.
He was so drunk at one show that he went off on a racist bender. I don’t forgive him for that, but let’s don’t trash the rest of his 50 years of contribution just because of one bad night. He has received 18 Grammys and is the only three-time inductee of the Rock and Roll Hall of Fame.
It’s more than just the trendy areas – it’s red-hot everywhere.
Every metro area on the list is having substantial gains in their index, which means there has been a psychological shift happening coast-to-coast on how human beings feel about their homes. With the real-estate-selling business being one of the last totally-free markets left, it’s going to run wild for a while.
The #1 market, Phoenix, hit +1.9% month-over-month, which is incredible for a January reading.
It should put them on track for a +20% to +25% annual gain in 2021, and we won’t be far behind.
I think we might catch them!
San Diego had positive gains straight through the Covid-19 era last year, and now we have 2% monthly gains in our sights for the next few months. Look how that compares to the 2019 readings:
“The strong price gains that we observed in the last half of 2020 continued into the f irst month of the new year. In January 2021, the National Composite Index rose by 11.2% compared to its year-ago levels,” says Craig J. Lazzara,Managing Director and Global Head of Index Investment Strategy at S&P DJI. “The trend of accelerating prices that began in June 2020 has now reached its eighth month and is also reflected in the 10- and 20-City Composites (up 10.9% and 11.1%, respectively). The market’s strength is broadly-based: all 20 cities rose, and all 20 cities gained more in the 12 months ended in January 2021 than they had gained in the 12 months ended in December 2020.
“January’s performance is particularly impressive in historical context. The National Composite’s 11.2% gain is the highest recorded since February 2006, just one month shy of 15 years ago. In more than 30 years of S&P CoreLogic Case-Shiller data, January’s year-over-year change is comfortably in the top decile. That strength is reflected across all 20 cities. January’s price gains in every city are above that city’s median level, and rank in the top quartile of all reports in 18 cities.
“January’s data remain consistent with the view that COVID has encouraged potential buyers to move from urban apartments to suburban homes. This demand may represent buyers who accelerated purchases that would have happened anyway over the next several years. Alternatively, there may have been a secular change in preferences, leading to a shift in the demand curve for housing. Future data will be required to analyze this question
“Phoenix’s 15.8% increase led all cities for the 20th consecutive month, with Seattle (+14.3%) and San Diego (+14.2%) close behind. Although prices were strongest in the West (+11.7%), gains were impressive in every region.”
This year’s orange line has plateaued. It’s been in the 70% range all month, meaning there has been 70% more showings each week than there were during the first week of the year.
Even though it’s twice as much, it mirrors the 2019 trend that the spring selling season is underway, and I think we can assume that every buyer who is thinking about moving in 2021 is out looking at homes.
The buyer pool is full, and engaged. Sellers, no need to wait!
We’re at the point where any of the year-over-year comparisons will be hampered by the initial shock of the pandemic in March-May of 2020. But the number of active listings was steady through March, 2020, so let’s compare the $$/sf on the list prices to see how much they’ve gone up in 12 months:
NSDCC Detached-Home Listings, End of March
% Chg in $/sf
$1.0M – $1.5M
$1.5M – $2.0M
$2.0M – $3.0M
Rates were about 1/4% higher last March, so about the same and sellers don’t care much about those.
But with the Under-$1.0M market now virtually non-existent, the $1.0M to $1.5M market is now our entry level and where first-timers, move-uppers, and downsizers are all in fierce competition!
This idea has to rank a 10 out of 10 on the kooky scale……would homeowners agree? An excerpt:
It’s expensive to fight the sea. It’s expensive not to do so. When property values plummet, so do property taxes. But right now property values here are still high, and State Sen. Ben Allen wants to put that value to use before it’s gone.
That’s why the 43-year-old Democrat has proposed legislation to create a revolving loan program, allowing California counties and communities to purchase vulnerable coastal properties. The goal would then be to rent those properties out, either to the original homeowner or someone else, and use that money to pay off the loan until the property is no longer safe to live in.
Think of it like a city-run Airbnb, where the profits go to making sure nobody is left picking up the full tab when the Pacific comes to collect.
It’s a strategy that’s never been tried at such a large scale, and its implementation would come with plenty of questions, policy experts say. But there’s hope in various parts of the country that the legislation passes, putting to test a buy-to-rent strategy that could offer a more permanent solution to a growing problem.
At its core, Allen’s proposal is a buyout program — a government-subsidized effort to limit the state’s longer-term exposure to sea level rise.
Within the next 30 years, $8 billion to $10 billion of existing property in California is expected to be underwater, according to the state’s nonpartisan Legislative Analyst’s Office. An additional $6 billion to $10 billion will be at risk during high tide.
“The magnitude of the potential impacts mean that the state cannot afford to indefinitely delay taking steps to prepare,” the report warns. “Waiting too long to initiate adaptation efforts likely will make responding effectively more difficult and costly.”
Communities have three options for dealing with that threat: They can defend those properties using sea walls and buffering beaches; they can learn to live with higher waters; or they can retreat and move to higher ground.
The last option is often the least popular, says Julia Stein, a project director at the Emmett Institute on Climate Change and the Environment at UCLA School of Law.
“That’s just not a conversation that a lot of coastal communities want to have,” she says.
And when the conversation does come up, one of the first questions to arise is cost.
Take Del Mar, a low-lying upscale community north of San Diego. Residents there have been in a years-long fight with the state over the term “managed retreat.” The state wants the city to consider retreating from a particularly vulnerable area. Problem is: The combined market value of the homes in that area is more than $1.5 billion.
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!