The network insinuates that auctions are giving houses away, but the initial prices seem ridiculous:
Dr. Alex Khadavi, a celebrity skin doctor in Los Angeles, was hoping for a quick sale and big payday when he finally completed a 21,000-square-foot mansion that took seven years and tens of millions of dollars to develop.
But a little over a year after he listed it for sale — with a price tag featuring a string of lucky 7s at $87,777,777 — the doctor’s dreams of cashing out are being crushed by a mountain of debt, unpaid contractor bills, bankruptcy court proceedings and trouble with the law.
Now he’s running low on luck, money and time.
Khadavi, who filed for Chapter 11 bankruptcy protection about two weeks after putting the home on the market, hasn’t lost his sense of humor, though.
“The home is sandwiched between billionaires, and I’m the poorest guy on the block,” he told CNBC with a laugh.
In an era where 50% or more of the homes for sale receive multiple offers, yet half or more of the sellers don’t ask the buyers to improve their offer – they just grab one instead? Money is being left on the table coast-to-coast:
We make sure you don’t end up on this list – Get Good Help!
Speaking of gifts from buyers, we asked our sellers if buyers used any unusual tactics to try to win a bidding war, and the results were shocking. When flattery and (possibly) bribery didn’t work, some buyers turned to more nefarious tactics.
Among the troubling experiences sellers reported, the highlights include:
An offer of two fully paid, all-inclusive tickets to a resort in Hawaii, presented over dinner
Offering a $10,000 signing bonuses if the offer was accepted by midnight
Buyers offering to buy toys and gifts for the seller’s children
Three weeks at a time share in the Bahamas
A buyer lying to the seller and saying they knew the seller’s grandmother
A buyer texting a seller each morning to ask if they had received any better offers
Buyers promising one price to sellers but writing their offers at a significantly lower price
Telling the seller a home was on ancestral lands
Heartfelt personal letters in hopes of tugging on a seller’s heart strings
An offer to purchase the home with Bitcoin
Attempted to give the seller exotic animals and a car to accept their offer
Just some of the tactics sellers reported buyers using to have their offer chosen include:
A buyer lying to the seller and saying they knew the seller’s grandmother
A buyer texting a seller each morning to ask if they had received any better offers
Buyers promising one price to sellers but writing their offers at a significantly lower price
If you’re worried about wildfires and earthquakes…..you can always move to Detroit!
Millions of Americans are living in communities with precarious climate conditions, in houses that feel overpriced. There is a solution for many of these people, though:
Move to one of the so-called climate havens.
Climate havens or climate destinations are situated in places that avoid the worst effects of natural disasters and have the infrastructure to support a larger population. Many of these legacy cities are located in the Northeast.
Jesse Keenan, associate professor of real estate at Tulane University, named the following cities as possible climate havens:
Asheville, North Carolina
Buffalo, New York
Burlington, Vermont
Detroit, Michigan
Duluth, Minnesota
Madison, Wisconsin
Milwaukee, Wisconsin
Minneapolis, Minnesota
Pittsburgh, Pennsylvania
Rochester, New York
Anna Marandi, who served as the program manager of climate resilience and sustainability at the National League of Cities, added two other places to the safe haven list: Ann Arbor, Michigan and perhaps surprisingly, Orlando, Florida.
Orlando makes the cut, Marandi said, because the city has introduced measures to decarbonize. While the natural environment, such as being a noncoastal city, is an advantage, cities can “earn” the designation by working to provide benefits like affordable housing and being committed to economic sustainability.
“I see climate migration as an opportunity for these cities to avoid the mistakes of urban sprawl,” Marandi said. “They often have a vibrant, walkable downtown that might just need a little bit of revitalization.”
Keenan also stressed that climate haven cities need to help their own residents, which in turn will attract more climate migrants.
“This isn’t we’re going to build a community for tomorrow,” he said. “We’re going to build a community for today. And that’s going to be the foundation for the building of a community for tomorrow.”
After seeing two homes go off for more than $4,000,000, buying this for $3,100,000 probably doesn’t seem so bad. But the house next door closed for $2,450,000, and the highest sale on this street was $2,220,000 twelve months earlier and was a newer Davidson home up around the bend:
Location is everything! Enjoy this end-of-culdesac gem that is just steps from TPHS (so close you won’t need to buy your kid a car!) and an easy stroll to Del Mar Highlands & One Paseo! Totally renovated with newer kitchen & baths, stainless appliances including 6-burner stove, Pella Pro-line designer wood windows, new paint & carpet, new light fixtures & LEDs, and new landscaping!
A link to our before and after photos to see our prep work:
The consumers’ fascination with the zestimates has never been greater! With home prices detached from comps, the zestimate is the only other measuring stick for both buyers or sellers – right or wrong!
Our Carmel Valley listing closed escrow yesterday!
It was the 3br/2.5 ba, 1,804sf home built in 1989 that we completed about $60,000 worth of upgrades in preparing for market (it had been a rental for years). The before-and-after photos were featured here:
The house looked great and it was vacant but this was when I did the blog post about spring break interrupting the market’s momentum. We decided to forge ahead, and I inputted the listing onto the MLS on the Thursday morning before spring break with immediate showings available that day – in hopes of catching any buyers that might be leaving for vacation the next day.
We had six showings on Thursday and Friday, and 100+ people came to open house over the weekend.
In January, I predicted that we would list for $1,750,000, and sell for $1,900,000.
On March 31st, we hit the MLS priced at $1,750,000, and closed for $1,875,000.
We received one offer.
Thankfully, the only offer included a $125,000 premium to incentivize the sellers to take the deal, instead of waiting for two in the bush. But we were already on Day 4 of open-market exposure, so I knew we were at peak market and our chances of selling for over list price would start dropping .
We contemplated whether we should counter-offer on price, or extend the two-week escrow period because we wanted the extra time for the sellers’ 1031 exchange. But given the fact that we only had one offer, the sellers signed it.
We had already completed a home inspection in advance, and thought we had fixed everything. The buyers did their own home inspection – which we always recommend to our buyers as well, and here’s why.
Their inspector noted that the water-meter gauge was running, even with all faucets being off. It’s the sign that a leak had developed, and the hot-water heater was operating the entire time too. The sellers checked their history of utilities and found their costs spiked on March 31st.
We have a ‘slab leak’, and we knew it was the hot side!
Just the thought of a slab leak causes grave concern and panic for most people. But we’ve handled them before, and know that they can be fixed with money like any other home repair.
Donna’s vendors jumped on it, and we closed in 16 days, instead of fourteen.
After Gregg’s funeral, Jackson wanted to play, somewhere. He went to a place called Grant’s Lounge, where everyone played back in the’70’s. Folks had a real shock that night. The talent that came there, for Gregg’s memory was amazing. Thank Jackson. That was appreciated by everyone who just happened to be there that night. Adding, being Gregg’s friend was not an easy thing for a long time. Have had some friends like that myself. Jackson is one helluva good man, will leave that there.
“I wrote ‘These Days’ before I met Gregg. He heard me play the song when we were first friends, I guess we were probably both 18,” Jackson Browne tells Blackbird about Gregg Allman in this concert clip. “The way he did that song completely changed it, I think for me and for everybody… I could write a song like that but when it came time to singing it, Gregg really gave it a kind of graveness and gravity that the song can hold.”
Relive the magic of Gregg and Jackson performing “These Days” together for the first time:
Please don’t confront me with my failures, I am aware of them.
With rates rising, and prices significantly higher, the average borrower is paying about 38% more on the monthly payment now than they would have for the same home one year ago, according to Realtor.com.
JtR: This is crushing the move-up/move-down market, with very few existing homeowners needing to move bad enough to start over on a new 30-year mortgage at a higher rate (86% of mortgage holders have a rate under 5%).
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Mortgage applications to purchase a home fell 3% for the week and were 14% lower than the same week one year ago. That annual decline is now beginning to grow, as housing becomes even more pricey.
“In a housing market facing affordability challenges and low inventory, higher rates are causing a pullback or delay in home purchase demand as well. Home purchase activity has been volatile in recent weeks and has yet to see the typical pickup for this time of the year,” added Kan.
March sales were 4.5% lower than the same period in 2021.
JtR: Sales are dropping due to lack of supply, yet the talking heads will blame it on the demand side. There is no shortage of demand around San Diego County – plenty of buyers waiting.
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A new study conducted by OJO Labs, an online real estate site and personal finance tool, found that the vast majority of recent home seekers are unwilling to relocate extreme distances, and are instead looking to buy much closer to their current homes.
It suggests that while buying a home in another state may have become a popular move for some during the pandemic—especially for high earners—most people looking for a new home right now are not venturing too far.
The OJO Labs study, published at the very end of March, surveyed more than 500 prospective homebuyers about their experience over that month. Of these, 41% were limiting their search to within six and 50 miles from their current home, while 36% were interested in buying a new house only if it was fewer than five miles away.
Only 11% of respondents were willing to move more than 500 miles away from their current address.
The findings push back on the pandemic-era narrative of New Yorkers and Californians moving to more livable cities in states like Arizona, Texas, and Florida.
JtR: Those who are only searching within a 50-mile radius of NSDCC probably won’t find anything that makes it worth moving – the prices aren’t low enough. There needs to be a bigger windfall to compensate for the capital-gains taxes, and feel like a big win. Nobody is going to move just for the heck of it. Thus, our supply is dependent upon those willing to move a long ways.
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Daimler went on to say that Zillow does not believe that the “double dipping agent” — or in other words dual agency in which the same person represents both a buyer and a seller — is the future.
“We don’t believe in that philosophy and we don’t believe that’s where the industry is going,” she added.
JtR: She needs to spend a few days on the street to know what’s really going on – it’s never been so hard to be a buyer’s agent. I finally succeeded with a set of buyers on their 12th offer, which was 40% higher in price than where we started six months ago. It will be a natural progression that buyer-agents get phased out altogether, and CoStar’s new search portal that directs the consumers back to the listing agent will be the last straw. It will debut in New York City this summer.
Trustindex verifies that the original source of the review is Google.
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.
