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.
If over 10% of the houses in a city are for sale, prices HAVE to fall at some point, and by a lot.
Not only that, but the inventory is clearly dwarfing turnover.
When is the infamous shadow inventory going to hit? I personally think it’s foolish to buy right now with that as a strong possibility.
We can say that over 10% of Rancho Santa Fe is for sale!
That’s better than 99% of Detroit for sale.
Thanks, Jim. Do you also have the data for San Marcos? I am very interetsted in that area, especially 92078/SEH.
It’s not surprising Carmel Valley is #2 on the list. I know three people who bought there using ARMs and it ain’t pretty. CV’s really divided into west and east halves, with the west side being >95% condominium bid up heavily during the bubble. Low or negative equity, lots of ARMs and toxic loans. The east side’s mostly million and up and tends to have a lot more equity and staying power.
What I saw happening over and over were people buying in the west half thinking values in the east half would pull them up. In reality, there are two CV’s, just like UTC.
XFZ,
92078 may suffer from somewhat dated stats on city-data?
Houses and condos: 2,850
Foreclosure notices: 353
% in default: 8.07%
ACT/May solds: 184/47
Months of Inv: 4
Twice as many in some stage of foreclosure as are listed active in MLS, like Oceanside’s 3x.
What surprises me is that with this high a level of inventory, there are still so few listings that fit the parameters I entered for our home search when we moved down here two years ago…
Well in order for prices to come down significantly, there first needs to be an oversupply. In some zips that appears to be the case, but time will tell because what counts is who must sell vs. who wants to buy.
I wonder how many of those Oceanside purchases are owner occupied vs. investor?
If you consider all of those houses that are REO or have NOD or NOT as part of the inventory of houses, it changes some of the numbers around a lot. Oceanside’s months of inventory shoots up to 10 months.
Town / Total Inventory / Months of Total Inv. / Inventory %
Del Mar / 220 / 11.6 / 3.28%
La Jolla / 647 / 17.0 / 3.31%
Encinitas / 429 / 12.3 / 2.24%
Solana Bch / 205 / 20.5 / 3.38%
RSF / 415 / 27.7 / 11.80%
Carlsbad / 1055 / 8.5 / 3.13%
Carmel Vly / 462 / 10.5 / 4.09%
Oceanside / 2254 / 10.0 / 3.79%
We can say that over 10% of Rancho Santa Fe is for sale!
That’s better than 99% of Detroit for sale.
The nicest house in RSF is probably worth more than all the houses in Detroit! 🙂
There are actually some nice old mansions in Detroit. Remember, prior to the 1960’s, it was a booming town.
Of course, if you buy one, you’d have to live in Detroit…
And Detroit just lost the Stanley Cup. Talk about getting kicked when you are down 😀
…don’t forget the Lions and their stellar ’08 season.