We have received written offers on our new CV listing so we have done our customary thing and issued highest-and-best counter-offers to each buyer.
But there isn’t any typical or obvious way to update the other potential buyers and the general public on the progress and how they can join in. Usually when the listing agents get multiple offers, we see them happily put in their remarks ‘NO MORE SHOWINGS’, and then they turn off their phone.
So I included a new sentence right in my remarks, AND added an open house for tomorrow morning to give anyone else a chance to view the property.
The number of homes for sale has already exceeded the counts for the same time in 2023 and 2024, and the number of pendings is lower than the previous two years too.
The pendings’ count has dipped 10% since the start of the year, but it did the same thing last year before turning upward. Their blue line is barely visible on the chart because it is so similar to last year.
There have been 119 new listings in January, so 300+ looks achievable!
The guy who has been studying the homes-for-sale inventory closer than anyone
Expect the cost of insurance to rise, or taxes to go up. Or both! An excerpt:
Earlier this month, JPMorgan estimated the fires around Los Angeles had inflicted $50 billion in losses, of which only $20 billion were insured.
One reason for the gap: State regulators have prevented insurers from charging premiums commensurate with rising property values, construction costs and wildfire risk exacerbated by a warming climate. Many thus stopped renewing policies.
Hundreds of thousands of homeowners shifted to California’s state-run backstop, the Fair Plan, whose exposure has tripled since 2020 to $458 billion. It has only $2.5 billion in reinsurance and $200 million in cash.
If the Fair Plan runs out of money, it canimpose an assessmenton private insurers to be partly passed on to all policyholders. In other words, the costs of the disaster will be socialized.
California is a microcosm of what happens when insurance breaks down: Either households face potential ruin or the public is handed a financial time bomb.
“What we are seeing is a real disconnect,” said Carolyn Kousky, an economist specializing in risk and founder of the nonprofit Insurance For Good. “There are opposing views on insurance: Is it a private market good, or is it social protection, to make sure everyone has the resources to recover from disaster?”
A central feature of insurance is risk pooling: The combined contributions of the community cover the losses incurred by members of the community in a given year.
Another feature of private insurance is actuarial rate-making, that is, calibrating premiums to the customer’s risk. That’s to prevent “adverse selection,” in which only the riskiest people buy insurance, and moral hazard—the tendency to encourage risk by undercharging for it.
But some activities or individuals are so risky they could never obtain, or afford, private insurance. That’s when risk gets socialized. The federal government’s expansion since the 1930s has largely been through the provision of insurance: Social Security, unemployment insurance, health insurance for the elderly and poor, deposit, mortgage, and flood insurance and, after Sept. 11, 2001, terrorism insurance. Not for nothing is the federal government often called an insurance company with an army.
I wanted to give my shiny new microphone a good test so I did two videos while I was at it. This is a tour of some of the upgrades in our new listing in Carmel Valley.
I’ll be there today 11am – 2pm – stop by if you can! 11463 Nantucket.
We’re expected to do well here in the sandy bagel, but other markets that might do better! Look around!
San Diego is expected to be one of the most competitive real estate markets in the country this year, according to a new report.
Why it matters: Regions that make Zillow’s annual “hottest market” ranking are usually those that are “starved for housing inventory,” and that competition can push up prices.
Driving the news: San Diego came in as the 19th hottest market for 2025, up 10 spots from a year earlier.
Zillow projects Riverside, which often operates as a release valve for San Diego’s affordability crisis with residents trading long commutes for cheaper homes, as the 22nd hottest market.
How it works: Zillow’s index is based on forecasted home value appreciation for this coming November, the rate of increase over the previous year, how many days a typical home was listed last year, and the projected change in the share of homes occupied by homeowners.
An article in the North County Times from late 2005.
Those were the days of low home prices and easier financing (though not as easy as the no-doc days in 2005-2008). As a result, it was the real Golden Age because everyone could participate.
The last five years were juiced with ultra-low mortgage rates and now the market is restricted to the affluent only due to the much-higher prices. But the returns were similar (or better in Encinitas and RSF) to what they were in the 2000-2005 era:
Every year, there are new laws/rules plus other changes that realtors need to know. Yesterday was the annual review by Gov Hutchinson, the assistant general counsel for the California Association of Realtors.
Gov has been with C.A.R. since 1985 and manages C.A.R.’s Member Legal Services Program in Los Angeles. Gov advises REALTORS® through the “Hotline” on all aspects of real estate law and he trains and supervises other “Hotline” attorneys. Gov received his Bachelor’s Degree in History from Princeton University and his Juris Doctorate from the University of Pennsylvania.
Because he runs the Hotline, he hears all the feedback about the current forms and issues and he is the best equipped to deal with them!
He is a fantastic speaker and we enjoy going every year to learn and laugh with Gov! One agent stomped out when Gov wouldn’t agree with him about listing agents offering a specific compensation to the buyer-agents on the phone. I agree with Gov – a verbal offer over the phone isn’t binding, so why bother?
The highlights:
On Tuesday, Gavin Newsom signed an executive order mandating that homes in the fire zone could not be sold for less than they were worth on January 6th. The idea sounds preposterous, but the scammers are already out making lowball offers so I guess something has to be done:
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As of August 17, 2024, the NAR Settlement required realtors to complete a buyer-broker agreement with their buyer clients prior to viewing residential properties in person. The State of California supplemented the practice with their own law that began on January 1st, and the Department of Real Estate will issue their own mandate shortly. Between the two, they will require that every licensee (realtor or not) has a written buyer-broker agreement before showing any type of property, not just residential.
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The initial exclusive buyer-broker agreement could be cancelled with 30 days notice. The latest version allows for 30 days or less, as negotiated in paragraph 2F. Buyers may feel more comfortable signing an agreement that can be cancelled on short notice, and if you are going to cancel, you might as well get it over with. Choosing 1, 3, 5, or 10 days may now be more appropriate here:
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This new form change is welcome. Whenever a buyer or seller wanted to agree to a deal but the offer or counter-offer had expired, we would have to author another addendum to extend – leaving the door open for possible shenanigans.
Now the verbiage is included – as long as the other party signs the paragraph 6, then we have a deal. The delay is still possible, but at least we don’t have to agree on who will be writing the addendum and exactly what it needs to say to make everyone happy:
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Tenant rights are already long and lengthy but every year the rentals category gets at least twice as many changes as sales side:
A. There is a new form for landlords to report the tenant’s payment history to the credit bureaus. But it’s only required if the landlord owns two or more rental properties. They are able to charge the tenant $10 per month for this service.
B. If a landlord is going to keep more than $125 of the tenant’s deposit, they need before and after photos.
C. Any clause that states the tenants are responsible for professional carpet cleaning at move-out is unenforceable. Carpet cleaning is only required if it is ‘reasonably necessary’.
D. The seller is responsible for maintenance when renting back after the close of escrow.
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Rent Gouging is illegal in areas that have been declared to be in a state of emergency. Rents can’t be jacked more than 10% of what are currently or what they were over the last 12 months. If the property is new to the rental market, the rent can’t be more than 160% of the HUD standard in the area. Even when there are multiple tenants bidding up the rent, it can’t go higher than +10%.
What areas are in a state of emergency? ALL of California has been in a state of emergency……due to the Bird Flu. The notice expires on Friday so wait until Saturday to gouge tenants around here.
The Tenant Protection Act of 2019 limits the annual maximum increase in rents to 10% or CPI + 5%. This year in San Diego County, the CPI + 5% = 8.8%.
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That’s about all for now!
BTW, I ran into another long-time agent in the parking lot. When I told him that I’m getting a call a day from potential sellers, he said he’s taken TEN listings in the last seven days.
We agreed – in our decades of being in this business, we’ve never seen it like this! The fires may be providing a bit of a respite, but a flood of listings is coming.
#1 Goal? Buy a house owned by a designer – they always max out their own home! This recent remodel was meticulously crafted with high-end premium upgrades throughout, including full gourmet kitchen with Wolf/Sub-Zero, a sensational primary-bath customization, hardwood flooring, new dual-zone HVAC installed in 2025, custom wrought-iron stairrail, and it has the secluded bedroom suite downstairs – all on a culdesac one block from Ocean Air Elementary! Backyard includes infrared grill and wood-fired oven imported from Italy plus all new painted fence and gates! Wow! Don’t miss this one! Less than a 1/4-mile to Starbucks and only 1.2 miles to I-5 freeway. Don’t get stuck in PHR traffic – this location will set you free!
After the boisterous open-house extravaganza the first weekend, we received multiple offers!
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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
Trustindex 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.
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
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.
Emily Hernandez
December 29, 2024
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.
Jesus Adrian Sahagun
November 11, 2024
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.
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!
Anu Koberg
July 13, 2024
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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.
Bjorn Isachsen
July 10, 2024
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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...
Chris Shea
June 21, 2024
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.
