Menu
TwitterRssFacebook

An Insider's Guide to North San Diego County's Coastal Real Estate
Jim Klinge, broker-associate
858-997-3801
klingerealty@gmail.com
Compass
617 Saxony Place, Suite 101
Encinitas, CA 92024
Klinge Realty
More Links

Are you looking for an experienced agent to help you buy or sell a home? Contact Jim the Realtor!

Jim Klinge
Cell/Text: (858) 997-3801
klingerealty@gmail.com
701 Palomar Airport Road, Suite 300
Carlsbad, CA 92011


Most recent articles

It’s Really Go Time Now!

Mortgage rates have continued their slide, and lenders should be offering fixed-rate loans with rates starting in the threes again, with little or no points!  The new pendings are flowing, but we still haven’t seen a flood of new listings:

NSDCC Detached-Home Listings and Sales in March

Year
March Listings
Median LP
March Sales
Median SP
2015
497
$1,275,000
298
$1,137,500
2016
532
$1,470,000
252
$1,143,665
2017
505
$1,395,000
258
$1,074,000
2018
446
$1,549,000
259
$1,397,500
2019
396
$1,514,497
153
$1,320,000

The latest numbers are month-to-date, and will increase considerably with four business days to go.  But the March sales will end up well under last year’s count, though the lower rates should help boost sales in April and May.

There are threes on the street:

For those who want to prepare for making an offer and would like to review our contracts, the California Association of Realtors have made available a sample copy with explanations:

https://www.car.org/riskmanagement/Consumer-RPA

Don’t be surprised if it’s a little clunky.

Posted by on Mar 26, 2019 in Interest Rates/Loan Limits, Jim's Take on the Market, North County Coastal, Sales and Price Check | 0 comments

The Documentary-Film Premiere

The documentary-film premiere went great on Saturday at Cinepolis, where we had about 80 people view the movie – and they liked it! You’ll see it on iTunes on June 4th – here is a partial description from the website www.ownedfilm.com

The United States’ postwar housing policy created the world’s largest middle class. It also set America on two divergent paths — one of imagined wealth, propped up by speculation and endless booms and busts, and the other in systematically defunded, segregated communities, where “the American dream” feels hopelessly out of reach.

Owned is a fever dream vision into the dark history behind the US housing economy. Tracking its overtly racist beginnings and its unbridled commoditization, the film exposes a foundational story that few Americans understand as their own.

In 2008, the US housing market became the epicenter of an unprecedented global economic collapse. In the years since, protests in cities like Baltimore have highlighted the stark racial disparities that define many American cities. The crash of suburbia and urban unrest are not unrelated — they are two sides of the same coin, two divergent paths set in motion by the United States’ post-war housing policy.

Posted by on Mar 25, 2019 in Bubbleinfo TV, Documentary Film, Jim's Take on the Market | 0 comments

Boomer Exodus

As boomers grow older, it’s inevitable that their housing transitions will affect the real estate market.  But it seems spread out enough that the impact will be digested….at least at some price. There will probably be times when a few old homesteads in the same area are sold at the same time, but it should all even out in the long run.

The Baby Boom generation (1946-1964) has an enormous housing market footprint, inhabiting 32 million owner-occupied homes and accounting for two out of five homeowners in the United States with an estimated value of $13.5 trillion. And when they decide to divest, said Fannie Mae, Washington, D.C., the impact could spur fears of a “bursting generational housing bubble.”

In a report, The Coming Exodus of Older Homeowners, the Fannie Mae Economic and Strategic Research Group said departures of these older adults from the homeownership market–for rentals, senior care facilities or by reason of death–will accelerate as the large Baby Boom generation continues to age.

“With the oldest Boomers now advancing into their 70s, the beginning of a mass exodus looms on the horizon, spurring fears of a bursting ‘generational housing bubble’ in which homeownership demand from younger generations is insufficient to fill the void left by multitudes of departing older owners,” wrote authors Dowell Myers, professor at the University of Southern California; and Patrick Simmons, Fannie Mae Director of Strategic Planning. Further, the authors warned a “fumbled” intergenerational handoff “would reverberate through the housing market and economy.”

Read More

Posted by on Mar 25, 2019 in Boomer Liquidations, Boomers, Jim's Take on the Market, Market Conditions | 0 comments

Inventory Watch

How’s the market?

The surge continued this past week, with the current pendings count rising from 302 to 324, which is a 7% increase. Last year, the pendings topped off the previous week and then dropped for four weeks. With this current burst, the pendings count is only seven percent behind last year.

The battle lines are drawn right around the $2 million mark, with the number of actives priced over $2,000,000 being 19% higher than in early January.

But the Under-$2,000,000 market looks great:

NSDCC Actives and Pendings

List Price Range
Actives
Pendings
Actives/Pendings Ratio
$2,000,000-
415
235
1.8
$2,000,000+
474
95
5.0

There probably isn’t much trickle up? But the 5.0 isn’t bad, and the 95 pendings is a 53% increase from a month ago!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Read More

Posted by on Mar 25, 2019 in Actives/Pendings, Inventory, Jim's Take on the Market | 0 comments