We’re at the point where any of the year-over-year comparisons will be hampered by the initial shock of the pandemic in March-May of 2020. But the number of active listings was steady through March, 2020, so let’s compare the $$/sf on the list prices to see how much they’ve gone up in 12 months:
NSDCC Detached-Home Listings, End of March
Price Range
2020 Actives
Avg. LP$/sf
2021 Actives
Avg. LP$/sf
% Chg in $/sf
0-$1.0M
40
$475/sf
7
$478/sf
+1%
$1.0M – $1.5M
114
$528/sf
30
$648/sf
+23%
$1.5M – $2.0M
126
$660/sf
38
$727/sf
+10%
$2.0M – $3.0M
163
$734/sf
54
$839/sf
+14%
$3.0M+
244
$1,165/sf
212
$1,379/sf
+18%
Rates were about 1/4% higher last March, so about the same and sellers don’t care much about those.
But with the Under-$1.0M market now virtually non-existent, the $1.0M to $1.5M market is now our entry level and where first-timers, move-uppers, and downsizers are all in fierce competition!
This idea has to rank a 10 out of 10 on the kooky scale……would homeowners agree? An excerpt:
It’s expensive to fight the sea. It’s expensive not to do so. When property values plummet, so do property taxes. But right now property values here are still high, and State Sen. Ben Allen wants to put that value to use before it’s gone.
That’s why the 43-year-old Democrat has proposed legislation to create a revolving loan program, allowing California counties and communities to purchase vulnerable coastal properties. The goal would then be to rent those properties out, either to the original homeowner or someone else, and use that money to pay off the loan until the property is no longer safe to live in.
Think of it like a city-run Airbnb, where the profits go to making sure nobody is left picking up the full tab when the Pacific comes to collect.
It’s a strategy that’s never been tried at such a large scale, and its implementation would come with plenty of questions, policy experts say. But there’s hope in various parts of the country that the legislation passes, putting to test a buy-to-rent strategy that could offer a more permanent solution to a growing problem.
At its core, Allen’s proposal is a buyout program — a government-subsidized effort to limit the state’s longer-term exposure to sea level rise.
Within the next 30 years, $8 billion to $10 billion of existing property in California is expected to be underwater, according to the state’s nonpartisan Legislative Analyst’s Office. An additional $6 billion to $10 billion will be at risk during high tide.
“The magnitude of the potential impacts mean that the state cannot afford to indefinitely delay taking steps to prepare,” the report warns. “Waiting too long to initiate adaptation efforts likely will make responding effectively more difficult and costly.”
Communities have three options for dealing with that threat: They can defend those properties using sea walls and buffering beaches; they can learn to live with higher waters; or they can retreat and move to higher ground.
The last option is often the least popular, says Julia Stein, a project director at the Emmett Institute on Climate Change and the Environment at UCLA School of Law.
“That’s just not a conversation that a lot of coastal communities want to have,” she says.
And when the conversation does come up, one of the first questions to arise is cost.
Take Del Mar, a low-lying upscale community north of San Diego. Residents there have been in a years-long fight with the state over the term “managed retreat.” The state wants the city to consider retreating from a particularly vulnerable area. Problem is: The combined market value of the homes in that area is more than $1.5 billion.
Spence has gotten involved with Offerpad, joining the other disrupters who lead with lies and insults about traditional realtors.
He said, “The real competition for Offerpad isn’t Zillow or Opendoor, it’s the fact that 99.5% of the time people sell their home the old analog way.”
But at the same time, these consumers are also relying more and more on services like Uber, Instacart and Amazon. “They’ve become conditioned to wanting an ease of use,” Rascoff said. “They’ve been conditioned to pressing a button on their phone and having some magic happen.”
His magic costs 7.5%.
They don’t mention their percentage, but even analog people have a calculator handy. To offset, they pack their Traditional Offer with concessions and costs that add up to 9%, which makes theirs look like a deal.
But the worst part for any seller who makes their home-selling decision based on the cost is that they assume that everyone will sell the home for the same price. Offerpad will try to convince you that their ‘team of real estate experts’ will pay the full retail value for your home, and then hit you with the testimonials:
Will consumers go for it?
Will people ignore the math, not speak to a traditional realtor, and not know the real value of their home – and instead just press the button to have some magic happen?
P.S. They aren’t the only ones using that photo, though not sure who went first:
I have honored four legends in these pages – my Dad, Doug Harwood, Gary Thompson, and John Wagner. Today we add a fifth.
Peter Buehrle, affectionately know to all of us as Peter B, passed away on Sunday.
He was gregarious and good natured, always bringing levity to every situation. An accomplished realtor (he sold over 1,200 homes) and a committed golfer, he had friends everywhere he went. The last time I saw Peter in person, I was standing on the curb when he drove up in his car. As we chatted it up, I noticed that he had a real estate training CD on the passenger seat. When I pointed it out, he said, “Hoping to learn something new every day, and do better for my people”.
Kayla and his son Houston were in the same class at CCHS, then he went on to graduate from USC. Houston then became one of the greatest successes to ever come out of Cathedral when he started his own company and landed on Orpah’s Favorite Things List in 2018. Here’s his story:
Thanks to the readers who sent in the recent WSJ article that mentioned that the national inventory is so bleak that there are more realtors than homes for sale (1.04 million homes vs 1.45 million realtors).
Let’s check the local productivity.
The graph above shows 29,600 real estate professional in San Diego County. (SDAR states that they have 20,000 members, NSDCAR says they have 6,000 members, and there is the PSAR which doesn’t have their member count on their website).
Last month we had 2,680 homes sold, including all property types – such as condos and mobile homes.
It means that 90% of the realtors in San Diego didn’t sell a home last month – in the hottest February ever.
This was filmed at Johnny’s 13,880sf house in Hendersonville, Tennesee where he and June lived until their deaths in 2003 (shortly after this was filmed). Trent Reznor wrote the song while living in Sharon Tate’s old house – yes, that house – and after he watched this video, Trent said, “that song isn’t mine any more”.
Those with good-paying jobs who’ve discovered the benefits of working from home are the ones who are most-likely fueling the ferocious demand – especially in what’s now the $1,000,000-$2,000,000 starter-home range between La Jolla and Carlsbad (can’t believe that I just said that).
Evaluating the economic impact of “social distancing” measures taken to arrest the spread of COVID-19 raises a fundamental question about the modern economy: how many jobs can be performed at home? We classify the feasibility of working at home for all occupations and merge this classification with occupational employment counts.
We find that 37 percent of jobs in the United States can be performed entirely at home, with significant variation across cities and industries. These jobs typically pay more than jobs that cannot be done at home and account for 46 percent of all US wages. Applying our occupational classification to 85 other countries reveals that lower-income economies have a lower share of jobs that can be done at home.
To provide some transparency on the deal-making on the street, here’s a review of properties that have gone pending this week. I didn’t intend to make a blog post out of it, but I had inquired about the availability of these listings, and for my own knowledge I like to ask how many offers the listings agents have received.
They had FIVE OFFERS on 1833 Willowhaven, and another similar home that listed on the same side of the street for $1,299,000 also had multiple offers. A good example of how a few more listings in the lower price ranges should all get picked up.
They had EIGHTEEN OFFERS on this one, because it checks most of the boxes. Well-priced single-level with nice private yard that’s been tastefully renovated. The 17 other buyers will be battling it out for months on these! I commend the listing agents for providing enough access to accommodate that many people and offers.
It’s a feel-good idea that inflation and lower rates can ease the pain of higher prices. But recent pricing has been really painful for buyers! Let’s apply the data to our local action (using 80% of MSP):
NSDCC Detached-Home Sales, February
Year
# of Sales
Median SP
Mortgage Rate
Monthly Pmt
2006
137
$833,000
6.25%
$4,103
2015
171
$1,110,000
3.71%
$4,092
2018
166
$1,289,005
4.33%
$5,121
2021
226
$1,736,000
2.81%
$5,714
It’s a nice idea, and higher rates did cool things down a bit in 2018. But today’s market is so explosive that we are blowing through all the usual stop signs – look at the number of sales!
My guess is that there will be additional sellers pulled forward from future years, just like with buyers – it’s too lucrative and tempting to find a way to sell now. Might it mirror the covid-recovery trend line?
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.
