We are hitting peak performance when the median sales price is going up around 2% per month. With the wicked combination of low inventory and rates, it could continue – and after a year we could be up +24%!
It reminds me of my first blog post from 2005, which was the last time these types of conditions were in play. Our 15th anniversary is next week! Hat tip Susie!
We (Klinge Realty Group) have been fortunate to stay in full operation and be very productive this year, so we haven’t had layoffs or cutbacks. In fact, our team has grown – daughter Natalie is now on board!
But for those businesses that need assistance, the City of Carlsbad might be able to help:
The City Council approved $4.4 million for business loans as a part of the Economic Recovery and Revitalization Initiative focused on recovery from the COVID-19 health emergency.
Microloans will be made available for businesses with gross revenue of $2 million or less and 15 employees or fewer with loan amounts ranging from $5,000 to $10,000. Repayment rates are outlined below:
0% interest if paid back within 6 months
1% interest if paid back within 12 months
2% interest if paid back within 18 months
Small business recovery loans will be made available for businesses with gross revenue of $3 million or less and 50 or fewer employees with loan amounts ranging from $10,000 to $25,000. Repayment rates are outlined below:
2% interest if paid back within 12 months
3% interest if paid back within 30 months
All applicants must hold a valid business license with the City of Carlsbad as of March 1, 2020 and be in good standing with the city.
To begin the first step in the application process, please go to http://carlsbadca.gov/loan. We will review your information and respond within five business days with a determination on whether you can proceed with the application process.
In preparation for the next step in the application process you may want to gather documentation regarding the length of time your business has been in operation, the financial impact that the COVID-19 health emergency has had on your business, at least six-months of bank statements, and your plan for using the funds if awarded
The city will hold a webinar on June 3 at 3:00pm to answer questions regarding the loan program. Please click here to register.
The City of San Diego has closed their loan window already, but they have the list of federal, state, and local financial resources available for businesses here:
Our daughter Natalie is part of our team now as marketing director (in between her dance gigs). We got started yesterday with a few short answers (less than a minute each) to three basic questions about today’s market that she will be using individually on social media – here they are as a group:
If you have questions you’d like me to entertain, leave them in the comment section or email them to email@example.com!
A viewer’s comment on YouTube led me to this terrific inside view of the 2008 financial crisis, and the resulting impact on the world. It rightly blames the entire fiasco on the Tan Man, who pitched his mortgages to Wall Street based on the yields generated if borrowers made their full-interest payments, when in reality, only a much smaller minimum monthly payment was all that was due.
It’s eerie to watch today as our financial markets are in question again:
I make a quick comment in at the 2:38-minute mark, standing in front of the most-expensive REO listing we received in the era – a 2,900sf house in downtown Carlsbad that sold for $603,000 in December, 2009. It’s still owned by those buyers! The realtor.com estimate today is $973,900.
We’re doing fine here at headquarters – how about you?
We’ve primarily worked out of the house for the last 17 years, so we aren’t experiencing any disruption just because we’re stuck at home. We’re still having two listings being prepped for market, and haven’t had any escrows fall out yet. So far, so good.
Our boss suggested that we don’t do open houses for the foreseeable future, and to use gloves and sanitizer for individual showings. Tours via FaceTime or Skype are encouraged as well.
Here’s a snapshot of my hotsheet this morning – an equal compliment of new listings, price changes, solds, and new pendings (six each):
The volume will be light, but as long as we keep seeing new pendings, the market is working!
"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 more "
"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... more "
by Ann Romanello
"Jim educated us, helped us find the perfect house, and then negotiated us a great deal. I would hate to be sitting across the negotiating table from ... more "
"Jim is thorough and will be brutally honest about the homes he shows you. He provides great service and follows through until the very end and even ... more "
"I highly recommend Jim as a buyer’s agent. Working with Jim, we closed this week on a San Diego condo. Jim prepared a list of comparable sales to ... more "