Century 21 Pacific on Garnet & Cass in PB – where I started in the 1980s
I was sitting on floor duty when an older gentleman in shorts and flip-flops rolled up on his bike. He wanted to buy a condo in an oceanfront building for $100,000 or less (didn’t have to be on the front). Realtors used the MLS books back then, and I found a condo that could work – but couldn’t get a response from the listing office. A fellow agent figured out why – I was using an old book, and the listing was expired!
I called the sellers direct, and my manager Rex Downing and I went to their house with a written offer for $100,000. The sellers explained that the reason it had not sold was because the tenant wouldn’t show it, and my buyer – who was a retired broker – said no problem, he’ll see it once they leave. Once the tenants moved, my buyer took a look around and said “Sure, I’ll take it!”
I made a 6% commission on my first sale….and I was hooked!
The location of my 1st sale – at the pool, and right on the alley:
This home looks great on paper. It’s a single-level 3,057sf home on an 0.39-acre lot in a secluded part of Encinitas, listed for $1,600,000. It drew a crowd too – the agent had appointments to show on Friday, Saturday, and Sunday and was fully booked for three days (I got the last appointment on Sunday afternoon, and there were still a few parties milling around then).
By the time we got there, she already had multiple offers.
But it closed under list price at $1,595,500.
Do some forensic viewing and see if you can tell why it didn’t sell for more:
The election season is over (even if the election is not), and the vaccine news today is positive – which should bring more certainty, and relief, to the real estate market. If we just had more homes to sell!
What’s hot these days?
Yesterday, I got the last appointment to show this one-story home in Encinitas, listed for $1,600,000:
It must have been shown at least 20 times between Fri-Sun, and the agent said she had received multiple offers before we arrived. All in the November rain during the week of a heavily-contested election!
Here are the NSDCC counts for the last six weeks:
New SFR listings: 408
New SFR pendings: 509
Median list price of pendings: $1,595,000
SFR closed sales: 500
Median list price of solds: $1,605,000
These numbers are staggering for ANY six-week period!
For the market to be this red-hot leading up to the election, during a raging pandemic, is truly remarkable. These conditions should continue too, as long as new listings keep coming!
If there is anyone left who still believes in market fundamentals, here’s a graph that shows how the traditional 3:1 price-to-income ratio is still a decent measuring stick in the rest of America. But in California, it has escalated to dizzying heights!
San Diego County
Median Household Income: $75,456
Median Sales Price, YTD: $705,000
Price-to-Income Ratio: 9.3
Median Household Income: $113,175
Median Sales Price, YTD: $1,465,000
Price-to-Income Ratio: 12.9
With the affluent in full control of the real estate market, expect these numbers to get dizzier!
Be part of the vibrant Downtown Encinitas scene! An easy walk to Moonlight Beach and the heart of downtown, this newer townhouse is owner-occupied and meticulously maintained! The real white-oak hardwood floors are refinished to perfection and just the beginning of a great beach vibe! High ceilings, granite & stainless kitchen with built-in fridge, family room with fireplace, views, and balcony, plus every bedroom gets their own full bath! 2-car gar + 2 spaces. PRIVATE ROOF DECK WITH PANO OCEAN VIEWS!
I love this video’s length and quality – it makes you want to visit!
Welcome to the Sanctuary, an incredibly private architectural masterpiece with whitewater ocean, lagoon and sunset views. This extraordinary mid-century modern home and its guest house sit on nearly an acre of Batiquitos Lagoon-front land, positioned behind a gated entry and set well away from the road. The main house (3 BR) and detached guest house (1+ BR) harmonize perfectly and both feature floor to ceiling windows. Sellers will consider offers between $4.8M and $6M (closed today for $5,399,450 cash).
Jonny Blue, a 33-year-old physical therapist and avid surfer from Encinitas, was seriously bummed Friday night. He saw reports across the country of people hoarding toilet paper in the wake of the coronavirus outbreak, and one of his good friends had a difficult time finding diapers and essential supplies for his kids at a nearby store.
So on Saturday morning Blue took a cardboard sign bearing the simple request — “Share your toilet paper” — and camped out on the corner of El Camino Real and Encinitas Blvd.
“It just inspired me to remind people, listen, if you have a lot of something that probably means there are people who probably don’t have very much of it, because you took it all,” Blue said. “So sharing it is probably a good thing to keep in mind.”
The response was immediate and positive, with motorists honking horns in support. Drivers stopped to drop off rolls of toilet paper and, just as quickly, Blue would hand them off in an impromptu TP stock exchange.
“This guy came here and said he just ran out and was going to a bunch of stores and couldn’t find any,” Blue said as cars whizzed by. “Somebody had given me some so I gave it to him. He was stoked.
“He was like, ‘Do you want me to pay you?’ I said, ‘No, man. Somebody gave it to me. Take it.”
A moment later, a driver in a white pickup truck slowed down just enough to toss out a roll to Blue’s burgeoning bundle.
“People are loving it,” Blue said. “People are honking, smiling, laughing. It’s actually been good because it’s actually been kind of a rough time right now.”
The run on toilet paper and other items such as hand sanitizers and disinfecting wipes has led local grocery stores and national chains such as Target and WalMart to limit the amounts shoppers can purchase at one time. Last week,three women in a supermarket in Australiagot into a hair-pulling brawl over toilet paper.
Blue opened his fledgling Robin Hood enterprise at 9 a.m. and, while taking a break at 2 p.m., said he would resume for a couple more hours later in the afternoon.
“I think people want a sense of community,” Blue said. “When things are really challenging, people are looking to band together and be unified. It feels like I kind of struck on a common theme where people were thinking, ‘Why are people hoarding toilet paper?’ Blue said.
“It’s a simple thing but it’s something that’s really tangible and really affects people’s lives, and when people saw my sign it really resonated with them.”
Blue said he planned to return to his post Sunday.
“I just want to encourage everyone to be better,” he said. “Difficult times can reveal us to ourselves and help us see ourselves more clearly.”
Richard was the listing agent in 2014 when Tamara’s clients paid $620,000 for this 1,296sf Encinitas house built in 1974. At the time, it was tenant-occupied and in its previous condition – I dubbed it a ‘light fixer’:
Ending the step-up basis on inherited homes would benefit brokers, as would a $15,000 tax credit proposed by Biden for anyone buying a home after not owning one for three years. President Joe Biden’s real estate checklist https://therealdeal.com/miami/2021/01/20/president-joe-bidens-real-estate-checklist/?utm_medium=social&utm_source=twitter&utm_campaign=single_content_share
"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. more "
"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. more "
"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 "