It looks like the tariff distractions might be behind us?
The number of pendings increased for the second week in a row, and the number of active listings actually declined! It might just be a break for Mother’s Day though, and there should be a steady increase of listings over the next few weeks – with only some of them selling.
Note: For those who review the stats below, know that I used the same $$/sf as last week for the high-end listings. The number was skewed by this listing, which I think has a mistake on price:
Meredith has been predicting the silver tsunami since 2023, but since it hasn’t happened (yet), she is now reversing course and is saying seniors are broke and can’t afford to move:
Baby boomers are dragging on the housing market because most can’t afford to move out of their homes, according to Meredith Whitney, the “Oracle of Wall Street” who predicted the Great Financial Crisis.
In an interview on Bloomberg TV on Wednesday, she said many cash-strapped Americans have been borrowing against their homes, and 44% of home-equity loans are being taken out by seniors, “which is counterintuitive. It’s crazy, right?”
That’s contrary to the typical narrative of baby boomers sitting on vast amounts of wealth accumulated over their lifetimes, which spanned unprecedented economic expansions and stock market booms.
As a result, seniors with a lot of money have an edge in the tight housing market, accounting for 42% of all homebuyers, while millennials account for 29% despite the younger generation being in the prime buying years.
But while most buyers are boomers, it doesn’t mean most boomers have a giant pile of cash.
“I divide it into different cohorts,” Whitney said. “So the senior which everyone thinks ‘the boomers have all this money’—that’s a small portion. Seniors are living paycheck to paycheck.”
To be sure, boomers collectively have $75 trillion of wealth. But that’s not distributed evenly, and Whitney estimated that just one in 10 seniors can afford assisted-living facilities.
As a result, many are forced to stay put and age in place, she added. (Stubbornly high mortgage rates also have created a “lock-in” effect where homeowners who got in the market when rates were low are now reluctant to buy a new home at today’s elevated borrowing costs.)
“This is one of the problems with the housing inventory,” Whitney told Bloomberg. “They’re staying in their houses longer because they can’t afford to move out.”
For Pete’s sake – seniors could afford to move if they just sell their house. The reason they don’t move is because they don’t want to leave town, which is the only way to make it worth moving.
The seniors that do move are getting closer to family, and in particular, closer to the grandkids. All the rest are staying until the end.
Buyers aren’t crazy about signing a three-month contract just to see homes for sale – and neither are the buyer-agents. Every problem with home sales will get solved by cutting out the buyer-agent, even though it’s bad for buyers.
With the unsold listings piling up everywhere, I went to check the stale factor (above) and was surprised to see that the ratio of the active listings on the market for 15+ days was actually lower than it was previously.
It must mean that there has been a flurry of new listings recently.
There have been 87 new listings this month between La Jolla and Carlsbad, which means we should be well on our way for 300+ for the month of May.
Here’s how 2025 compares with the last two years:
Because today’s home sellers are loaded with equity and are somewhat reluctant to leave San Diego unless they get all their money, the less-motivated sellers who sense that it’s a ‘bad time to sell’ are going to wait until 2026 to hit the market.
It should mean that the number of new listings won’t explode from here to December.
What about 2026?
There will probably be a bigger surge next year, caused by the larger group of 2025 leftovers plus those who waited. They won’t be a panic on price – they want their money – but the seller nervousness will cause them to start earlier.
It’s been well-documented here what a lucky guy I am, and here’s another.
In 2016, Natalie was studying abroad in Florence, and we went to visit.
Kayla had done her study abroad in Rome five years earlier, but we didn’t visit then. So we started our tour in Rome so she could show us around. Being good Catholics, we went to the Sistine Chapel, where usually the guards are adamant about not taking any photos.
But the day we were there, the guards were on strike!
They had a skeleton crew of staff at the door who were encouraging us to take as many photos as we wanted!
Of the 3,122 detached-home listings in San Diego County, 672 of them (22%) include the word ‘nestled’. It is followed closely by ‘dream’, which is in 19% of the listings.
If you don’t want to be replaced by robots, don’t be so robotic.
According to Opendoor’s new First-Time Home Seller Report, the COVID-era buying spree is not only over, it is biting back.
The low-interest rate buying frenzy in 2020 and newfound flexibility with remote work led to a wave of regret – 79% of first-time home sellers admit they made mistakes, with 91% saying these errors played a major role in their decision to sell.
The biggest culprits?
Buying too fast
Misjudging long-term lifestyle fit
Underestimating maintenance costs
Assuming remote work was forever
These regrets could be fueling a shift away from the traditional “forever home” mentality. Once seen as the ultimate goal, it now feels unrealistic for many, especially with changing lifestyles and economic pressures. In fact, 68% of first-time home sellers no longer see it as attainable, and 81% are selling what they once thought would be their lifelong home.
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Jim & Donna Klinge helped us sell our home of 30 years in Ocean Hills. We were very happy with their service and would HIGHLY recommend them to anyone looking for an Honest, Knowledgeable, Skilled, Informed Efficient realty team. Both Jim & Donna were so helpful in different ways and complemented each others skills. Please refer to a more detailed review that we wrote on YELP. Thank You Both for all your help!!!
Jesse O'Hara
June 12, 2025
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A+ thank you
Lisa Tuomi
June 11, 2025
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Many years ago, we purchased a home in Carlsbad, using a realtor that was recommended to us - Jim Klinge. Fast forward to 2025, we recently had the privilege of selling 2 homes in Carlsbad, CA and didn't hesitate to reach out to Jim and Donna Klinge of Klinge Realty Group to guide us through the sales. The transactions were very different, each with its own unique situation, opportunities and challenges. From start to finish, Donna and Jim helped navigate the pre-sale preparation, the listing, showing of the house, buyer negotiations, the final close and all of the paperwork and decisions in between. What stands out with both transactions is the professionalism of Jim and Donna (and their team), wonderful communication (timely, relevant, concise), their deep understanding of market dynamics (setting realistic expectations), their access to top-notch contractors, and last, their ability to guide us across the finish line successfully. We wouldn't hesitate to use Jim and Donna in the future and highly recommend them for anyone looking to buy or sell a property in North San Diego County.
Jerry Meyer
March 28, 2025
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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 Mary
Heather Quejada
March 27, 2025
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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.
Lou F
March 27, 2025
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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!
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William Sams
March 25, 2025
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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.
Emily Hernandez
December 29, 2024
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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.
Jesus Adrian Sahagun
November 11, 2024
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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.
SABIHA PASHA
July 23, 2024
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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!
