Those trying to sell in the better school districts, and where there is already a shortage of decent inventory, could get lucky in the next few days. Buyers with limited options, and who really want to be in for the start of school, might compromise on a few things just to get ‘er done!
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Jim Klinge
Klinge Realty Group
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024 - (858) 997-3801 call or text
- klingerealty@gmail.com
CA DRE #01527365, CA DRE #00873197
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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
It’ll take some luck though.
Usually by 11am on a Monday morning you would see a dozen or two new pendings on the NSDCC hotsheet, especially after a fairly sunny weekend in August.
Currently there are only three new pendings on today’s hotsheet (reset at midnight every day), all cheaper homes in CV.
Readers are probably wondering how crazy can it be trying to buy a house these days? Inventory is up, sales are dropping – aren’t sellers getting desperate?
I showed a house over the weekend that is listed for $699,900. The sellers paid $292,000 for it in 1998, and have a loan amount of roughly $400,000.
The agent said today that they have TURNED DOWN FIVE OFFERS, between $675,000 and $686,000 in the first month of the listing.
She said that they might re-consider the $686,000 if it came in again.
I know of a couple who sold their Encinitas house and wanted to downsize. Well, once that Encinitas house sold they must have been desperate and bought a house in La Costa for $200k over a short-sale comp one street over.
Still, they paid almost $200k under what they sold their Encinitas house for, so they probably see it as +$200k instead of -$200k. As long as equity sellers are driving the market, prices can stick. But sooner or later, North County Coastal will need new blood (or so I hope.)
> She said that they might re-consider the $686,000 if it came in again
Next month they will reconsider the $675,000 offer.
As a potential seller with a 65+% equity position in my home, what are the downsides of listing one’s 10 yr old Carlsbad home hoping for a lucky sale – especially if the agent agrees with the price and understands that the price is pretty firm. Is it not ethical? By “lucky” sale, pricing would be on the high end of comp sales in the neighborhood.
It would be a pretty short escrow–Encinitas schools go back next Monday 8/16.
I’ve gone start-to-finish on an escrow in 24 hours! Financed too!
Future Mayor,
I’ll bite, though listen to your agent.
The downsides of listing on the higher end is blending in with the rest of the OPTs. Unless you have obvious premiums that make your house stand out from the rest (great location, superior view, good one-story floor plan, etc.) buyers will forget about you in a hurry.
You’ll have showings the first 1-2 weeks, then it’ll go stale, with an occasional passer-by who is usually looking at yours to justify why they should buy the house down the street.
You could get lucky and beat the odds, and some straggler who just got off a jet plane and has to move the family here in 30 days.
Usually they are just as knowledgeable, because they have the same internet access as locals, and have been doing extensive research from afar. But the timing might get them to pay more than they prefer.
Once you have been on the market for 30+ days, buyer want to lowball by 10% to 20%, and ignore any price reductions you’ve made to that point.
End result? The longer, the lower.
That’s why we’ll see so many cancellations in the coming months, because sellers (and their agents) will be stunned that their ego got disappointed…again.
“I’ve gone start-to-finish on an escrow in 24 hours! Financed too!” (JtR)
*Chuckle* Jim, can you tell us more?
Jim,thanks.That “The Longer the Lower” line sums it up well. The spin from the local chapter is ” prices have stabilized”. looking at closings and what is NOT selling tells a different story. Sellers and listing agents STILL for the most part are not pricing or presenting homes properly and you have to do both if you want a sale.there were less than half the number of closed escrows in july than we had in june in my town,the buyers are there but they want a decent house at a reasonable price.
Agents in particular and people in general want to hear that “prices have stabilized”.
Agents want to be the bearer of good news, and assure people everything going to be alright.
But nothing is “stable” when inventory is rocketing higher, and sales are dropping quickly while mortgage rates are the lowest since I’ve been breathing and prices are 20% to 50% cheaper than they were 4-5 years ago.
Logically, if you just combine the lowest rates ever and well-discounted prices, wouldn’t you think that the market would be on fire?
But it isn’t – why? Buyers are smart, and sellers are ignorant. Buyers will win, but they’ll earn it by searching relentlessly for the 1 in 100 seller who can get their head straight.
On Friday we made an offer of $840,000 on a house that the seller had paid $413,000 for in 1998, and loan amount was under $300,000.
The house across the street is the exact same model listed for $839,000, and had just gone pending.
Four days later, no response. Nothing, nada.
Review:
Sellers could have walked with nearly $500,000 tax-free in less than 30 days on a listing that had been on the market for over a month with no offers – AND CHOSE NOT TO RESPOND.
Or how about the MagnoBressi girl? Had to FSBO for the summer, but now that’s it’s mid-August she decides to list one house on the MLS, and send around an email blast.
Price-ranged $1.4 to $1.45, after her brother/cousin paid $800,000 for the bigger house next door.
Jim,
Your comment in #11 about the slow sales in this low interest rate environment is spot on. Even I’ve been shocked by the lack of sales during this period of exceedingly low rates. Usually, you see a wave of buying whenever rates hit these levels…but not this time.
Personally, I’ve always thought there was a limit to the number of people who could buy high price/low rate. There’s a point where the interest rate doesn’t matter so much because the principal does need to be paid off (unless you’re just paying interest, which probably isn’t the best choice right now), and the effect of low rates is offset by the higher property taxes on a high-priced home. There comes a point where the only solution is lower prices.
Like you’ve said, the buyers are the ones with the money. In the end, they are the ones who decide where prices go.
jobs, jobs, jobs….new, high paying jobs are just not here. most people who are willing/able to buy have done so and now the buyer pool is very shallow. There’s no recycling of buyers any more so the pool just stays shallow.
Its fairly simple. Just don’t outsmart your common sense.
The 24-hour deal. I was the buyer.
Back in the heyday one of my primary markets was the move-up buyer. We would find a house to buy, then put their current residence on the market, sell it in 1-2 days, and close both concurrently.
One backfired on me when the buyer backed out the day before closing on the first sale, jeopardizing the move-up sale – so I stepped in and bought it, closing the next day to keep the upleg on track (plus my three commissions).
It wasn’t start-to-finish, we had the title report in hand. But everything else was handled in the ensuing 24 hours.
This was in 2003 when you could walk into your local Countrywide branch that did everything in-house. I brought in my complete loan application, the branch manager approved it while I waited, and called her favorite appraiser who confirmed that he could bring in the value.
Off to the doc-prep department, where they printed loan docs which I signed, and the next morning they funded the loan, and it closed that afternoon, roughly 24 hours after it began. She slipped in the full appraisal later that day.
Unfortunately you couldn’t do it today though, with all the down-sizing and paranoia in mortgage lending.
Please say that “paranoia in lending” is meant to be humorous jibe after you described how a favorite appraiser could “bring in the value” and “slip in the full appraisal” after closing.
No, it wasn’t.
Being able to fund a loan in a day or a week should be a possibility. The way the appraisal happened wasn’t a reflection of the value, it was how deals get made to satisfy the customers. Banks don’t give a hoot about having a happy customer today.
I think the lower interest rates are having an effect in the lower priced zips. For example, in North Park (92104) the inventory according to sdlookup is down to 71 houses which is 6 more than in mid February. The high end continues to be where the deals are. In the affordable urban areas prices have firmed and inventory is not “rocketing” higher.
@clearfund #14:
Absolutely true as well. We’re accepting the fact that our income situation will likely change as well. This year, we will get close to zero on our investments which usually bring in ~mid 5-figures each year. Additionally, earned income is stable for now, but will likely be cut 5-30% in the coming years. Because of this, we are not willing to stretch.
I think both of these (no jobs, and a lower limit on monthly payments due to the high prop taxes) make this a very tepid market.
You don’t see a problem with getting the appraisal after the fact? The lending institution has a duty to its shareholders and its creditors to be sure the collateral is sufficient before the loan closes. Maybe banks are having trouble now because they failed in that regard. How did the collateral hold up in this particular loan?
yes, I get it, let’s pepper Jim on the fine details to make him look bad in front of his clientele.
I think you and I covered this already, didn’t we?
No, I don’t see a problem – it’s called service. The value was there, the appraiser couldn’t drop everything to run the paperwork right over, so she trusted that he’d get it later that day.
How did it hold up? The house is still standing.
I sold it 14 months later, for a profit.
Figuring out the value of a house isn’t that tricky, folks. Heck, a non-professional could probably get a fairly accurate number by sitting at his computer in five minutes.
Here’s how: Go to the house’s Redfin page. There are five (!) autocomps there (Zillow, cyberhomes, eppraisal, a number calculated by nearby active comps with similiar square footage, and a number calculated by nearby sold comps). If the numbers agree, there you go. If they don’t, the sold comp number seems to be the most accurate. Factor in lot size, condition, how close it is to noise generating things (freeways or busy streets), views, etc. if any of the above are atypical for the neighborhood. These are less accurate for large, expensive custom houses, but for a typical tract home, this ain’t hard.
But how does anyone really determine what the accurate value of a house is? Ultimately, it is just what a buyer is willing to pay. I know a lot of agents who complain about Zillow but I don’t think they are any better at reading the mind of a buyer of a particular house at a particular time. There are just too many variables. All appraisals, agent estimates, Zillow/Redfin estimates are really just useful guidelines.
Jim, I wasn’t picking on you. Countrywide had a duty to have the appraisal in the closing documents prior to closing. Countrywide was remiss on many of its duties. We all know the end result.