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.
In the last few years, I’ve become somewhat of a convert to the “No Grass” camp. The stuff is a real nightmare! It needs a ton of precious water to look nice, it needs to be groomed on a regular basis which wastes more precious resources, its contribution to the environment is minimalist at best…
If I ever buy a house, it’ll be on land that’s already full of trees! Just leave them alone, and simply cut the dead ones down for firewood. Or let them decompose back into nature. Either way, the CO2 emissions are exactly the same.
BTW, happy half-century-plus-one Jim! 🙂
In situations where the borrower is making good income or have significant assets, it could be tough to pull off a short sale anyway, because the shortsale package is going to have to include something that establishes “hardship”.
If the package smells like strategic default, many lenders might not go along with the program.
When I purchased my home recently, it was the first lawn I ever had experience with maintaining. (I grew up in South Mission.) I’m with you, Francois – what a hassle! I’m trying to figure out some good alternatives while I save up money to enable that plan.
Maybe Astroturf the whole yard or portions they don’t use. Or put up the house for rent for a couple of years, while they rent a smaller place and pocket the difference.
I think we all are going to have to get used to living more simply. The house in the video looks decent but oversized for two empty nesters.
Oh dear god RENTERS help us please! :,-(
You’re the only ones with money right now.
If you are self-employed and work at home then you can deduct some of your rent. The rent you deduct will be on your schedule C which is higher up on your income statement. Interest deductions are on your schedule A and must be higher than your standard deduction, or they don’t matter. So, if you rent, you get your deduction and you can claim the standard deduction.
No one wants to move back in with their parents. Rich people don’t want to have non-family tenants. For $1000 you can roll up your sleeves and put in some native landscaping and rain barrels.
Jim- I’m a CA native who grew up in San Diego and Carlsbad (1954-1970) and finally gave up on CA in 1999 and moved to Montana. Finding work is the big problem up here. There is a saying that if you want to be a millionaire in Montana, move here with 2 million.
You might find an $800 rental out on the plains of eastern Montana but in any of the developed areas (Kalispell, Missoula, Helena etc) you’re looking more at $1500-$2000.
I like keeping up with N. County real estate through you site. Good work!
As Kingside already said this deal would smell like a pre-packaged default. Nobody likes making big payments on a depreciated asset. However, there doesn’t appear to be a big hardship with cash flow.
$1000 a month for water? Probably another $1000 or so for electricity. Makes coastal living on a postage stamp-sized lot look cheap.
JTR,
Why did you pull the comments about the water damage home?
Sorry,
My bad ,wrong comment section.
Keep up the great work JTR!
The family compound has a lot of advantages – we built a granny flat and moved my in-laws in… so 3 generations… It’s a total winner for everyone… We help with taking care of my father-in-law, they get a wheelchair friendly house with willing help 100 feet away, my kids get grandparents in large doses… All good stuff.
We’re also a no-grass house. We made the choice after construction of the granny flat (which destroyed the yard). Mulch and plants are our friends!
That garage is very rentable. You’ve got a bath and an area for a bedroom (the office), and a “living room” (the garage itself). No kitchen, but that’s probably not too big a problem with family or close friends. It’s also a big plus that they have an additional garage for actual car storage.
Renting out the “man-cave” is a non-starter unless it’s remodeled to be year-round habitable. I think the R-value on the garage doors is -2.
Random Conservation Thoughts
Water: Pull about 85% of the lawn (leave the stuff around the gazebo), go to native ground cover. Install drip irrigation. Kill the fountain during the summer months.
Energy: Install CFLs in all the indoor light fixtures where it makes sense. Consider LED-based lighting for outdoor accents. How is the house heated/cooled? Do all the rooms need to be heated/cooled all the time?
CFL bulbs might be a no-go. Apparently, many women hate them like the plague. Just Google “Women hate CFL bulbs” for a surprisingly huge number of links on the subject.
I’m surprised by how many people go ballistic over the one second light-up delay, and the one minute warm-up. It’s no big deal for me. In fact, I’ve yet to replace any of my CFL bulbs. And the power savings are pretty significant.
Hard to feel sorry for folks that can almost afford $7400 a month. That being said, that $1000 a month for water seems like such a waste for grass. They should be growing something at that rate-either food or maybe the state can license them as a medicinal grower?
My recommendation to this “homeowner” is to “Let go and Let God!” She has everything she needs to start a televangelist ministry right from her home! Use the “Man Cave” for the studio, do a lot of out-door shots with the Jesus statuary and gazebo, and declaring the property “The Church of the Foreclosed Mortgages”may have serious tax advantages! The possibilities are unlimited!
*Chuckle* I was just thinking you don’t look a day over 50! Happy Birthday, Jim! Hope you had a great day with your family.
Just my two cents, but having a mortgage for 30 years later in life doesn’t bother me in the least. I’ve rented for the last seven (7) years, and dislike it intently. The out-of-state area I’m looking at–even with PITI on a new home thrown in–makes my monthly expenses 60% less than now.
That’s a chunk of change! And with the CA financial mess, property taxes here on the Central Coast have been increased to 1.35% of the purchase price. The Sacramento bureaucrats have grabbed some local property tax revenues due to the small print: that is “emergency”. And all the fee increases that the politicians say are not new taxes…
But the real reason I’m losing sleep as to whether to leave CA (I was born here) is the fact that I’d be leaving the best friends on the planet.
LET THE GRASS DIE.
replace with http://www.ucverdebuffalograss.com/
these are drought tolerant grass that require watering once a week. mowing is dramatically reduced as well.
the selling point is 75% less water. So assuming $800 is currently going to grass per month, you bring that to $200/month.
Beautiful setting. I really think you gave them good advice. It is nice to see you are not just in it for the money. You could have listed that and they would never be happy again. My daughter has a home on a lot like that here in No.Cal. She put in a well and cut her water bill by two thirds. I can’t imagine not having a well for that much grass.
Happy B Day Jim.
To all of the anti-grass people…
I have 3500 square feet of bermuda grass, about 20 young fruit trees, and various shrubs/bushes. The difference between watering in the hot summer and not watering during the rainy winter is $50 per month.
If you have an efficient irrigation system and don’t have a ridiculous amount of grass it can be very affordable. Mowing with a manual reel mower is great exercise and it doesn’t cost me a dime keep it trimmed.
The grass is also a great place for my dogs to play so I would never consider getting rid of it.