As the vacation season kicks in, the frenzy may become a little more manageable – only because there could be fewer buyers vying for each new listing. But the environment won’t change until we get a flood of inventory, which isn’t happening yet:
NSDCC New Listings Between March 1st and May 31
Year
Number of New Listings
Median List Price
Avg. Mortgage Rate in April
2017
1,499
$1,399,000
4.05%
2018
1,437
$1,475,000
4.47%
2019
1,494
$1,499,925
4.14%
2020
1,140
$1,598,150
3.31%
2021
1,164
$1,949,000
3.06%
Yes, mortgage rates in the 3s are 25% lower than when they are in the 4s, but on a million-dollar loan the drop only saves you $558 per month – and the bump in pricing gobbles up all of it, and more.
It’s the cumulative effect of many variables that will keep the frenzy conditions alive. The only thing that will cause the frenzy to die is a surge in inventory – and that isn’t happening yet, and may never happen.
BTW, that’s a 22% increase YoY in the median list price.
The ticket sales for the U.S. Open couldn’t have been managed more poorly.
They sold all the tickets well in advance – but during the Covid-19 era so they knew the restrictions. Then they cancelled all the tickets and executed refunds to every purchaser.
I had bought tickets for contest winners here, only to have them get refunded. Then when they did go to re-sell tickets, they limited the amount due to covid-19 – which they knew was happening when they sold the first round. As a result, I only got two tickets, and went with wifey yesterday.
Sorry contest winners!
Phil has complained about fans making noise with their cameras, but no harm was done here. My camera has a button to turn off the noises.
We saw Rory chip in on #12, and we were in the highlight clip – as his ball is heading for the pin, look for Donna (in blue top and white pants):
CARLSBAD, Calif. – It’s been dubbed the Silicon Valley of golf and compared to Detroit for the auto industry or to Akron, Ohio, the rubber capital of the world. Over the last 30 years, Carlsbad, this sleepy little beach town and agricultural community located 35 miles north of San Diego, has exploded into the golf equipment epicenter. And not surprisingly, a haven for golfers too.
Carlsbad rises from ocean to hills. A pioneering speculator dug a well there in 1883, discovered mineral water believed to restore health and earned the city its name after the spa town of Karlovy Vary (Karlsbad) in the Czech Republic. Health seekers and sun worshipers have been coming in droves ever since for the fine, uncrowded beaches, and, of course, the water.
The majestic home had it all — five bedrooms, four bathrooms, a three-car garage and a spacious basement in a beautiful neighborhood in Colorado Springs. If the single-family house sounds too good to be true, stepping inside the property shows prospective buyers a stunning reality: walls spray-painted with vulgarities, rooms destroyed with a hammer, carpet reeking of human and animal feces, and dead cats locked in a bathroom.
“How do you like the s— on the carpets,” read the spray paint in the dining room.
What was once Suzy Myers’s pride and joy was now every landlord’s nightmare, thanks to a departing tenant who didn’t pay rent, she told The Washington Post. A Tuesday listing on Redfin described the house as a “little slice of hell” that stemmed from, fittingly, “a tenant from hell.”
“This house is not for the faint of heart but for that special person who can see through the rough diamond to the polished gem inside,” real estate agent Mimi Foster wrote. She said in a video tour of the home, “Nothing could have prepared me for what I was about to encounter.”
Last month’s sales didn’t set a record, but they were very strong given the shortage of inventory which was about 25% under the usual number of May listings.
Check the YoY price increases for May:
Median Sales Price: +43%
Average $$/sf: +36%
Median $$/sf: +34%
No matter how you measure it, pricing is through the roof!
The best part about returning to normal is dropping the requirement of having to sign the covid disclosure – known as a ‘pead’ – just to see a house. I don’t mind the paperwork, it’s the badgering by listing agents to submit the form immediately before anything else can happen – like scheduling a showing. I hope we get back to talking about sales!
The California economy will reopen on June 15th and, with limited exceptions, will return to normal operations.
Q1. Will there be any restrictions on open houses or showings?
A1. The only legal restriction will be for wearing masks, otherwise there will be no restrictions. No physical distancing will be required for attendees, guests and customers. No cleaning. No posted rules of entry. And no PEADs or any other type of sign in. No one will have to agree to an office prevention plan. No one will have to attest to their current health status.
Q2. What will the rule be for wearing masks?
A2. The rule is: People must wear a mask indoors unless they are fully vaccinated. This follows the CDPH Guidance for Face Coverings (last updated on June 9, 2021). For fully vaccinated persons, it will make no difference that other unvaccinated persons are present indoors. As long as a person is fully vaccinated, that person need not wear a mask.
Q3. Are there any exceptions from the mask wearing requirements?
A3: Yes. The following individuals are exempt from wearing masks:
Two-year-old children or younger.
Persons with a medical condition, mental health condition, or disability that prevents wearing a mask, or are otherwise unable to remove a mask without assistance. For example, a person for whom wearing a mask could obstruct breathing.
Hearing impaired persons who need to see the whole face for communication or be understood.
Persons whose work exempts them by law.
Q4. My seller wants to require that everyone entering the property wear a mask or be vaccinated. Can the seller require this?
A4. Yes. The seller can set their own rules as to who will be admitted to the property.
The seller can:
Require all visitors to wear a mask.
Require all visitors to be vaccinated or show a negative COVID test.
Implement a vaccine verification to determine whether individuals are required to wear a mask.
Provide information to all visitors regarding vaccination requirements and allow vaccinated individual to self-attest that they are in compliance prior to entry.
If your seller would like these rules implemented, you will need the seller’s consent. Your office may require that the listing be formally amended. You may add optional language such as, “with the exception of _____________________________________ .” or “The following showing requirements shall be followed: ______________________________________.”
On a separate note, if the Listing Agreement Coronavirus Addendum or Amendment (C.A.R. Form RLA-CAA) has already been signed, you may want to now add a Modification of Terms by writing the following into the Other paragraph: “The RLA-CAA, dated ________, is terminated.”
Q5. What is the practical advice for a seller and/or a broker regarding mask wearing requirements?
A5. The practical advice is to adopt a policy that requires everyone to wear a mask. It’s true that a fully vaccinated person after June 14 need not wear a mask, but then that puts the agent in the position of having to ask everyone about their vaccination status. Rather than do that, wouldn’t it be simpler and easier just to adopt a blanket rule that everyone visiting a property wear a mask? Discuss your approach with the seller to obtain the seller’s agreement.
Buyers dig the new one-story estates in Rancho Santa Fe! The house across the street sold for $10,850,000 in January (the third time it sold for $10,000,000+) and then the brand-new house on Las Planideras sold for $12,500,000 in February (click here for videos on both):
It’s not going to be easy for people to judge the frenzy conditions, and as a result, there is going to be overshoot. Even the agents get in a frenzy groove and keep expecting that every house will get multiple offers and a bidding war – and the superior homes probably deserve it.
The only buyers with regrets will be those who purchase in the last 2-3 months of increasing prices in their area:
he news seems to be filled these days with tearful tales of folks who bought homes for well over the asking price—some sight unseen—during the coronavirus pandemic. They lament that they bought these properties at the height of the real estate market, often spending more than they planned, and didn’t have the time to conduct more thorough inspections or determine whether the location was right for them.
Now a reality check: Most folks who closed on new properties aren’t suffering from buyer’s remorse, according to a recent Realtor.com® survey. Not even close. Almost three-quarters of folks who bought homes in the time of COVID-19 are happy with their purchases, the findings showed. About 1,000 people who purchased homes within the past 12 months participated in the survey, which was conducted between March 26 and April 7.
In fact, about 71% of those surveyed say buying was a good decision, while 75% say their new home is a good fit for their families. In fact, many wish they had taken the plunge and moved sooner, before the number of homes for sale shriveled up just as waves of buyers flooded the market.
About three-quarters of these homeowners had planned to buy before the pandemic. Just a quarter bought in response to COVID-19. And almost half, 48%, say they didn’t feel rushed or pressured into a sale.
Meanwhile, only 19% wish they had waited to buy and less than a third would have spent more time looking if they could do it all over again.
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!
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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
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.
