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Jim Klinge
Klinge Realty Group
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024 - (858) 997-3801 call or text
- klingerealty@gmail.com
CA DRE #01527365, CA DRE #00873197
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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 MaryTrustindex 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.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! ---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.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.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.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!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.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...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.Load more
Remeber when we used to hear dates by when the lenders were going to unleash their REOs? In 4Q09 I heard the date from a B of A employee wasgoing to be April 1st, and I figured it was another April Fools joke. Now this, from the Irvine Housing Blog:
I attended a local Building Industry Association conference on Friday 26 March 2010. The west coast manager of real estate owned, Senior Vice President Ken Gaitan, stated that Bank of America, which currently forecloses on 7,500 homes a month nationally, will increase that number to 45,000 homes per month by December of 2010.
After his surprising statement, two questioners from the audience asked questions to verify the numbers.
Bank of America is projecting a 600% increase in its already large number of monthly foreclosures.
This isn’t unsubstantiated rumor; this comes straight from one of the most powerful men in Bank of America’s OREO department.
Click here for full story
600% increase? OUCH! Well, nothing price won’t fix. 🙂
Great tips in the video. Thanks!
The increase makes complete sense from a “efficient market” standpoint, and I’d love to see it happen, but I’ll believe it when I see it.
It would both clear the market and shut the door on rampant short sale fraud.
Bring it on. We desperately need the inventory.
As a realtor I have done my share of short sales here in No Ca but I hesitate to do them anymore. I feel they are a mine field and I always wind up paying for my client’s legal consult I just cannot let these people continue with this process without legal advice. The last one had the lender coming back with the lovely option of the bank coming after them for recourse. The attorney told us about the “Merger of Interest Rule” Both loans were made by the same bank but at different times. According to the attorney they are considered one loan. I had not even heard of such a thing. She told them to walk away and the bank would not have recourse on the second since it was the same bank. There are so many ways to get into trouble on these things. I do remember when Jim said… ” the only reason for a short sale is so the realtor can get a commission” I totally believe that. There are so many realtors doing unscrupulous things and putting their clients in a legal quagmire, only to get the commission. These things will be tied up in the courts for the next 10 years. I need to be able to sleep at night.
Jim great video.thank you for letting people know about all the fraud going on out there.
Irene, the “merger of interest rule” is an interesting theory and is based on a 1992 California decision, Simon v. Superior Court (1992) 4 Cal.App.4th 63.
Without getting to technical, the decision was based on a bank who originated and held both a first and second mortgage, and foreclosed on the first. The Court held that the bank could not claim recourse status as a sold out junior on the second and a deficiency was barred under CCP 580d, the rule that prevents a bank from seeking a deficieny when it elects to proceed by non-judicial foreclosure, even though the election to foreclose was on the first.
In modern times, we have all the 80-20 loans that may have been originated by the same lender, but were then subsequently sold off and securitized to different entities, handled by different servicers, and/or administered by different CDO trustees. So whether Simon applies in modern times may be questionable, but it will continue to be argued. Sooner or later we will get a new decision on how the “merger of interest” rule applies to securitized cases, but attorneys will be killing a lot of trees over the issue until then.
Jim, don’t worry so much about the way you look on TV. Your general appearance is actually a marketable asset. Don’t be surprised if an affiliate hires you to do a weekly segment on the local real estate market.
A 600% increase in monthly foreclosures? Ouch! That’s a lot of free rent! 🙂
Short sales are such a hassle that I personally would recommend avoiding them-but if there’s currently a lack of REO or standard sales in a particular area, you might have no choice. Hopefully the long-delayed REO flood actually materializes (as indicated by the BOA rep) and the inventory problem goes away so there will soon be no reason to mess around with short sales.
“I do remember when Jim said… ” the only reason for a short sale is so the realtor can get a commission” I totally believe that. There are so many realtors doing unscrupulous things and putting their clients in a legal quagmire, only to get the commission. These things will be tied up in the courts for the next 10 years. I need to be able to sleep at night.” (Irene)
*Heartfelt sigh* At least Jim isn’t the only Realtor with integrity…
Thanks Susie!… I really believe that if you are in the San Diego area, you cannot do better than to hire Jim. He truly is an honest man. Such a shame there is not a lot of that going around….. Kingside. Thanks for the clarification. The attorney did say that the only way to actually find out if the second was still held by the bank that owned the first was to let them foreclose. We did get our answer and it indeed was still owned by the same bank. She was trying to tell us that if they accepted the terms of the short sale that they could be shooting themselves in the foot. There was the possibility that the second was owned by the same bank.I really appreciate the insight. You seem to have a wealth of info and I only wish that more realtors did their homework. There is such a need to protect these people and that is what our fiduciary duty is but there again that darned commission gets in the road and it is the only thing they think about.
Francois,
I know you don’t live here, if you did I think you would agree that the local TV and radio scene has ample real estate coverage – in Top Gun parlance, “the pattern is full”.
Here is the full clip from last night’s local NBC affiliate:
http://www.nbcsandiego.com/station/as-seen-on/San_Diego_Explained__Short_Sales_San_Diego.html
From a buyer’s perspective the reason to go after short sales is pricing. Regular sales and even REO sales are not priced that aggressively right now. I believe that one of the biggest factors that pushes prices on short sales down is the massive hassle they are. Unless you’re getting a pretty substantial price break, why even mess with them. OTOH, who knows if a short sale will ever actually close.
It would be great to see more inventory, because assuming that there aren’t more buyers waiting in the wings, that should help pricing become a bit more aggressive than it has been in the last few months.
The only reason people are even screwing with shorts sales is the fact they are most of the inventory in certain areas.In my opinion there should be no short sales and the banks should foreclose on every house and sell them to willing buyers.This short sale mess is only prolonging problems and creating a gambleing atmosphere in housing.
Jim submitted an offer for me on a REO property. The seller agent wanted $1500 negotiators fee. They also said that there were 3 other offers. (All above mine)
It’s a great house but you can tell the current “homeowners” are going to try every deadbeat trick in the book to live there as long as possible.
No problem, my offers on the table. I have $$$ we’ll see what happens.
“Jim submitted an offer for me on a REO property”
(shadash)
Well, you have the best Realtor in San Diego working for you, so here’s hoping it all works out for you, shadash.
I had to laugh at that NBC short sale video. It looks like an educational video for preschoolers.
Jim, I liked your video. I agree with a previous comment, you’re good on camera, especially when in focus, ha. I wouldn’t be surprised either if a local news channel asks you to do segements. An old SDSU professor of mine, Pat Abbot, is interviewed on the news EVERY SINGLE TIME there is a fire, land slide, earthquake, tsunami alert or any other natural disaster. More power to you.
You surprise me shadash, but good luck!
“You surprise me shadash, but good luck!”
Looks like slowly people are jumping of the permabear wagon and buying. That is what I have been noticing lately on this blog and others I frequent.
As a buyer I despise short sales! I spent months putting in offers on SS and either never heard back from the banks or was strung along for months and then got a no. I put an offer of 275k on one house, it was accepted by the sellers (subject to bank approval) and two months later the bank said they wanted 300k, 25k more than what I offered. It was in escrow 4 months before for that amount, but it fell through when the buyers could no get financing because the appraisal was less than 300k. I countered back with 285k (10k more than my original offer), that was the high end of the appraisal amount. The bank said no, it wasn’t enough money and auctioned off the house the next day, getting 265k for it!!!!
After that I avoided short sales and found a better house being sold at a realistic price by an private investor company (regular sale). No games or banks who think it’s worth more than the market dictates. The house was listed on Friday, I put the offer in on Saturday and we were in escrow by Monday afternoon. It took seeing 40 houses to finally get my dream house!
BTW, although I didn’t use Jim to buy my house (because I was house hunting in Temecula), I really appreciate his blog and it has helped me so much. I visit here daily and have for over a year. Thanks Jim for all the advice and being “real” with us buyers!
Genius,
The price was right. (200k off peak) When numbers make sense it’s time to consider buying again. I’m still against all the gov/bank/realtor shenanigans. But as Jim has stated before there’s nothing price won’t fix.
CV Asian,
I was never on a “permabear wagon”. Numbers didn’t make sense before. Now prices are starting to come down. The deadbeats are beginning to get flushed out of their debt bubble safety zone.
I anticipate prices to continue to slowly fall for a while. What seems cheap today may be considered expensive in the future. Time to start lowballing and see what if anything sticks.
good luck shadash, let us know how it goes. I forgot, have you mentioned where you’re looking?
Jim, you do a much better job. You don’t resort to playing with dolls in order to explain things or get your point across.
Shadash, if the seller agent says there are better offers ahead of yours, why did they even bother to call you back? I have this feeling they’re trying to extract more money out of you.
I still wish you good luck Shadash. Just don’t let them take you to the cleaners.
That segment was pretty poor because of the dolls. It just seemed amateurish. I’ve corresponded with Kelly a couple times a few years back, and she is very intelligent. That anchor didn’t do that interview very much justice.
Jim, just closed escrow on short sale. Surprising, it went very quickly – Jan 13 offer, just closed yesterday. 1st + 2nd mortgage didn’t counteroffer, but the 2nd wanted additional money.
Lots of waiting, then a rush to close escrow in 2 weeks. I would I got really lucky on this purchase (regarding timing, price, short sale process duration,etc), but I’ve been looking for a while also.
Question: In the scenario that AC described in entry #22 above where the bank turned down a SS offer for $275k and then sells it at auction (I assume trustee’s sale?) for $265k, did the bank actually clear more money because there were no realtor commissions and possibly no juniors to payoff?
Re the merger of interest rule, lets’ be clear that with 80/20 loans, we are talking about purchase money 100% financed deals where the Simon case isn’t on going to be point – can’t get around the non-recourse aspect of purchase money and the protection against a deficiency action. In any event, whether you have an 80/20 purchase money deal with the same or different lenders, no one should ever sign anything that would provide recourse to the lender.
Simon is relevant to anyone who has a post-purchase HELOC/2nd owned by the same entity as their 1st. A single owner can probably avoid being “Simon’d” by selling off the 2nd before foreclosing non-judicially on the 1st.
Irene you are right about the mine-field aspect of real estate deals in today’s environment. One unknowing mis-step can be very costly.
Dacounsler,
I have seen some 80-20s that were refis. The wall street loan feeder firms and underwriters didn’t much care whether it was purchase money or refi.
And many of the 80-20 purchase loans were investment, not 1-4 owner occupieds, where CCP 580b anti-deficiency protection doesn’t apply.
And I do think it is a debatable point whether a lender/assignee can avoid Simon by selling off/taking an assignment of the second. The securitization fiasco gives rise to some very good policy arguments in favor of the borrower.
hey folks, thanks to those of you who watched the NBC clip, and thanks for your comments. As always, Jim kills it with explanations of all of the other pitfalls and tips he pointed out here.
I know, the dolls were a bit silly. But actually, if I’ve made short sales understandable to preschoolers, I’ve done my job for these SD Explained segments — which are geared toward folks who’ve been sitting out the topic.
I’m shocked how many people (unlike all of you folks with your RE savvy) still didn’t know the basics of what a short sale even is! That’s even after the years of short sales being in the headlines. Hence the unadorned, simple rundown of the building blocks.
So, clearly not for everyone. But that’s why we can all hang out on JtR’s blog, right?
kb
Kelly,
You could have at the very least put together a powerpoint presentation.
The dolls just made you look stupid.
Good points Kingside. In any event for the average Joe underwater homeowner with original loan(s) the key point is not to enter into any short sale agreement that would turn a non-recourse loan into a recourse obligation. For those who have refied, I believe there may be some case law out there that may support the argument that a no-cash-out refi does not remove the protection afforded by the anti-deficiency statute; ie the refi is boot-strapped into non-recourse status. I don’t recall it being clear cut but I do recall there being some basis for that argument.
shadash that’s uncalled for. A little civility please!
Jim-
I came across this SHORT SALE today in Waters End:
6961 WATERS END, Carlsbad, CA 92011
890K
Comments:
Short sale! Seller firm at this price. Serious buyers only. Contact out-of-state seller only for showings. Gorgeous home west of i-5. Gated community. Walking distance to the beach. Real wood flooring on first floor. Wood plantation shutters throughout. Stainless steel appliances.
How could a “seller” be firm at this price when that would be determined by the bank. I know this neighborhood and that price is outrageous. Could you comment on this?
Anonymous,
Maybe I was a little harsh. But honestly, who is going to take financial advice from grown women playing with dolls?
Dacounselor and Kingside…. I cannot tell you how much I appreciate your input. There are so many nuances with these transactions that they should only be handled by an attorney . We all know that Jim knows what he is doing but 99% of realtors do not have a clue and they don’t go after the knowledge that is needed to keep these people out of trouble down the road.
Please keep letting us pick your brains for free.
Thanks!
Sorry about the preschool comment Kelly…It’s just that my son’s preschool has the exact same dolls! I realize that you have to “dumb it down” for the public.
“…if I’ve made short sales understandable to preschoolers…”
Kelly, that’s the problem. We’re not preschoolers. We’re adults. We can handle a PowerPoint or even a whiteboard presentation. We don’t need to be patronized by childish gimmicks.
Yes, Shadash’s comment about the dolls making you look stupid was harsh, but he was right! And unfortunately, the dolls also told the audience that you believed they were stupid as well even though that wasn’t your original intention.
This is why so many of us have fled conventional television and found refuge on the Internet. We can find people there, like Jim, who can properly explain things to us at a more reasonable intellectual level. There’s nothing more refreshing than to watch a video that, regardless of the subject matters, treats you like an adult. It’s a concept that conventional television has simply forgotten a very long time ago.
Give her a break – it’s NBC who insists on dumbing down the presentation. The series is called San Diego Explained, it’s meant for those who don’t have a clue. If anything, me and my comment was out of place, because there wasn’t any direct connection to the doll thing.
Jim,
You are skinny Jim!
Let the people know your diet and exercise tips!
Francois – you have to remember that the average adult has a 9th grade reading and comprehension level. Those of us who matured beyond that point have indeed abandoned television in droves. I refuse to watch televised news because I don’t want to be TOLD what to think about a particular piece of news. I’ll determine for myself whether it is good or bad. The point of television is to keep you engaged so that you watch the commercials – you might think you are paying for television through your bill, but the advertisers are paying for the television. You’re just paying for the feed connected to your house. Television exists to sell you stuff.
Art Electric, I’m fully aware of the purpose of television and its commercials. I’m launching my own cable television channel here in Canada. I just feel that the television audience should be treated with a minimum amount of respect regardless of their actual level of education. They might not be all college or university graduates, but it doesn’t mean they’re complete idiots either. Broadcasters really need to start giving their television audience the benefit of the doubt.
I’m sorry if I’m ruffling a few feathers here, but this is an extremely important issue for me. Even Canadian television isn’t immune to the excessive dumbing down of its audience. All I’m hoping is that I can make a positive difference with my channel, just like Jim is accomplishing with his videos.
Ok, ppl are going overboard with the doll insults. I believe it was NBC who pushed that, not Kelly.
Kelly has a point, though…alot of people are not going to understand this stuff very quickly. I see eyes glaze over when I dumb down my explanations to 3rd grader level.
However, I do agree that a powerpoint would have been better. Stick figures would have gotten the point across better, IMO.
The dolls. Not good.
I had to watch this video twice because your reaction to your 15 seconds of fame was just too cute. You do have charisma Jim the Realtor.