The developer paid $4,900,000 cash for this site in 2020, so he must have had some assurance from the Encinitas City Council/Planning Commission that he could build his 72-unit apartment house here.
It appears that expanding La Costa Avenue to four lanes will be required – though there aren’t plans or money to do so – yet the Encinitas City Council approved the development:
The site of the project is 1967 N. Vulcan Avenue in the northernmost part of Leucadia near La Costa Avenue. The intersection of Vulcan and La Costa is a major concern to residents who oppose the development.
Wermers said the updated project plans now include changes to Vulcan Avenue that are meant to make the area safer for pedestrians and bicyclists.
“When we do this it also promotes vehicle safety,” Wermers said.
Wermers also made a commitment to pay his company’s fair share in whatever changes the city decides to make at the Vulcan and La Costa intersection.
“Whatever you guys decide, we want to pay our fair share,” Wermers added.
There was more support for the newly redesigned project, some pointing to the need for low-income housing in the area and the project will boast 12 units designated as low-income.
“We need more roofs over our heads. This housing project is the perfect one to bookend Vulcan Avenue and Leucadia,” resident Kevin Daniels said. “I can’t express this enough, this project is a perfect fit.”
Though this is probably intended to be a direct shot at Zillow (who gets their feed from the IDX}, it will be the next step in the elimination of buyer-agents and encourage single agency.
CHINO HILLS, Calif., Aug. 26, 2021 /PRNewswire/ — On September 1st, 2021, California Regional MLS (CRMLS) will officially update its rules regarding Internet Data Exchange (IDX) websites to benefit agents and consumers on both sides of the residential real estate transaction.
IDX is the term the real estate industry uses for the portions of agent and broker websites devoted to searching MLS data. IDX sites using CRMLS data will soon give consumers a much clearer picture of agents’ relationship with the listings consumers find online.
The newly updated rule, number 12.16.5 in the CRMLS Rules and Regulations, will read as follows:
“12.16.5 Listing Credit. All Listing Brokers grant permission for any Advertising Broker to display any listings submitted to the service by the Listing Broker only if the listing display or advertisement is clear so that a reasonable real estate consumer understands:
a) Who is the Listing Agent & Broker, b) Who is the Advertising Broker and c) How to contact that Listing Agent or Broker.”
In describing the updated rule, CRMLS CEO Art Carter said, “It shouldn’t take a consumer more than a few seconds of looking at a listing to determine who the Listing Agent, Listing Broker, and Advertising Broker are.”
The CRMLS Rules Committee, composed of active real estate professional CRMLS users, devised the rule based on feedback from members of CRMLS’s participating Associations, Boards, and MLSs. The CRMLS Board of Directors, also working real estate professionals, approved the rule.
“CRMLS leadership has been discussing this subject, and this proposed solution, for years now,” said Carter. “Now that we have approval to update the rule, we’re beyond excited to help increase transparency and reduce friction for consumers, brokers, and agents.”
Remember when we were impressed that our Case-Shiller Index was going up 3% to 5% per year?
How do you like +27.2% YoY?
The month-over-month increase was the lowest since January, so it will interesting to see if pricing starts to plateau. With inventory so low, the pricing statistics could continue upward.
San Diego Non-Seasonally-Adjusted CSI changes
Observation Month
SD CSI
M-o-M chg
Y-o-Y chg
Jan ’20
264.04
+0.2%
+5.1%
Feb
265.34
+0.5%
+4.6%
Mar
269.63
+1.6%
+5.2%
Apr
272.48
+1.1%
+5.8%
May
273.51
+0.4%
+5.2%
Jun
274.91
+0.5%
+5.0%
Jul
278.00
+1.1%
+5.4%
Aug
283.06
+1.8%
+7.6%
Sep
288.11
+1.8%
+9.4%
Oct
292.85
+1.6%
+11.5%
Nov
295.64
+1.0%
+12.3%
Dec
297.52
+0.6%
+13.0%
Jan ’21
301.72
+1.4%
+14.3%
Feb
310.62
+2.9%
+17.1%
Mar
320.81
+3.3%
+19.1%
Apr
331.47
+3.3%
+21.6%
May
341.05
+2.9%
+24.7%
Jun
349.78
+2.6%
+27.2%
Phoenix, San Diego, and Seattle reported the strongest price increases of the 20 cities. Prices in Phoenix increased 29.3% year-over-year. In San Diego they rose 27.1%, and in Seattle they were up 25.0%. All 20 cities reported higher price increases in the year ending June 2021 versus the year ending May 2021.
“The last several months have been extraordinary not only in the level of price gains, but in the consistency of gains across the country,” said Craig Lazzara, managing director and global head of index investment strategy at S&P DJI. “In June, all 20 cities rose, and all 20 gained more in the 12 months ended in June than they had gained in the 12 months ended in May.”
Prices in just about every city in the 20-city index, except for Chicago, are at all-time highs, he said, as are the national composition and the 10- and 20-city indices.
Peter Boockvar, chief investment officer at Bleakley Advisory group, said prices are rising at “a really out of control pace that is unsustainable and unhealthy.”
Home sales, however, have started to cool. Signed contracts on existing homes dropped in July, according to the National Association of Realtors. Prices usually lag sales by about six months, so that could be a sign that price gains will stop accelerating as they have been for over a year.
“According to new Ally Home data, 45% of buyers say they have delayed purchasing a home due to market conditions, with 29% citing high home prices and 20% indicating homes selling too quickly as factors in this delay,” says Glenn Brunker, president of Ally Home.
Our local home prices have been rapidly escalating over the last year. First, we ran out of NSDCC houses for sale under $1,000,000, and today there are only 6 for sale priced under $1,100,000!
What are the alternatives for those buyers who want to spend less?
Buy a house further out.
Buy a condo/townhouse.
Get bigger gift from parents or grandparents.
Keep playing the lottery!
Here’s an example of going just a tad further out. This house is located on the border of Carlsbad, and while it did have ten offers and got bid up $80,000 over list, it closed for $830,000:
Of the NSDCC listings priced under $3,000,000, there are way more pendings than actives (230 vs. 146).
The Over-$3,000,000 category below has the most pendings (80) of all five price categories.
There are only 88 NSDCC houses for sale priced under $2,000,000.
The active listings have been dropping off quickly. At this time last year, we had 677 active listings, and went on to have record-setting sales in September and October:
NSDCC Sales, September + October
2016: 539
2017: 517
2018: 447
2019: 466
2020: 743
Today we have 334 NSDCC active listings – half of what we had last year!
We will be hearing how sales are plummeting, but it’s only because we don’t have enough homes to sell!
For those who might be thinking about my idea of renting your home for a year so you can defer the capital-gains tax when you exchange it for other(s), know that California is a tenant-friendly state. Just the denying of a tenant has potential consequences! We can refer you to a local property manager to assist you.
It is already legal to add an ADU and a junior ADU to a property zoned single-family. Another bill has passed the California Senate that allows up to four units total – and to be able to create two parcels, which means they could be sold separately – if the owner agrees to occupy the property for at least three years. Here’s a thorough article on the subject with examples:
Senate Bill 9 would technically allow as many as two duplexes, two houses with attached units, or a combination — capped at four units — on single-family lots across California, without local approval.
The bill would allow more building where it’s now illegal, with the intent of reducing California’s fast-rising home prices and increasing access to homeownership through a greater variety of options, according to state Senate leader Toni Atkins, a Democrat from San Diego who introduced the bill and similar versions in the past.
The bill returns to the Senate for expected concurrence on the amendments before heading to Gov. Gavin Newsom’s desk.
A group calling itself Californians for Community Planning Initiative immediately filed a proposed constitutional amendment for the November 2022 ballot to reassert local control over zoning and land-use decisions in opposition to the bill.
But some analysts say the linchpin of the Senate’s housing package would probably have a negligible impact on the California housing crisis, at least in the short-term. As for the nightmare scenario described by opponents? There simply isn’t enough evidence to back that up, either.
That’s because a change to zoning means very little in reality, starting with the number of units that would actually get built, these analysts say.
This is a repeat of the 2br house featured on my tour a few weeks ago, with the resulting sales price.
The agent admitted they priced this 2br house low on purpose to attract a crowd, and it worked. The list price was $699,000, and it sold for $1,100,000 cash. Meanwhile, the two other listings around the corner priced at $1,149,000 and $1,200,000 are still unsold.
Sellers are resistant to price attractively, but look how well it works when you Get Good Help!
I said the other day that it will become hard to sell. But wait – isn’t the demand overwhelming? Yes, but it’s a price thing.
It will be harder to sell…..at your price.
Think of the pressure on sellers now.
It was bad enough when the seller’s ego had to endure the actual or perceived pressure from friends and family about getting your price. It was probably more subconscious, than conscious, and nobody really had to say a word.
Sellers just think that their family, friends, and neighbors are all watching, and they want to show them. As a result, once a home goes on the open market, the seller’s ego wants all the money.
But then over the last year, sellers have been in this bonanza zone where bidding wars erupted out of nowhere and sellers got more money than they ever thought was possible. Way more than their ego needed, and sellers couldn’t wait to tell everyone how great it turned out.
But as the frenzy settles down, will sellers be able to cope without a tale to tell? Will their ego survive not having a bidding war?
In their mind, their opinion of their home’s value is built on top of the frenzy sales, plus a little extra.
Are sellers motivated enough to price sharply from the beginning, and/or lower their price early and often when it counts?
Probably not.
Hence, the frenzy environment has to continue, just so sales will happen.
Agents who have been in the business for 12 years or less only know a strong sellers’ market. They will continue to offer half-baked listings with 60-80 photos, no video, and a crazy price – and expect buyers to pay it. Throughout their history, buyers always have.
Sellers will now expect 5% over comps AND a bidding war to push it higher! Anything to the contrary will not go over well, and sellers and listing agents will be slow to react.
First you’ll see listings not selling, and inventory starting to stack up. Then sales won’t be as brisk as they have been over the last year.
Sales will suffer, before pricing does.
Keep an eye on sales. They are your leading indicator.
This is how the frenzy will end, it’s just a matter of when.
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
Trustindex verifies that the original source of the review is Google.
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!
---
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
Trustindex verifies that the original source of the review is Google.
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
Trustindex verifies that the original source of the review is Google.
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
Trustindex verifies that the original source of the review is Google.
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.
