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.
I’m NEVER giving up my 2% mortgage.
I know you just like messing with me but for the other readers, don’t be so sure about keeping your low mortgage rate forever.
What’s better than 2%? Zero!
As prices stay here or keep rising, the big equity positions make it tempting to downsize. Those whose homes are $4 million and higher in value and who can find a nice little bungalow for $2-ish will pay cash and really be in their forever home.
Especially if they can transfer their $400k tax basis!
Gonna take realtor commissions being cut by 50% and the abolishment of capital gains tax on home sale to get me out of my no mortgage coastal house. Pretty sure I’m not alone.
Im sorry I am not messing with you. I respect you greatly. I really do not want to give up my 2% mortgage. Even though I have large amounts of equity. Take care.
Yeah well except I have your IP address too. You change it, and your name, occasionally but the tone is the same.
Remember this gem? From “Jenny”?
‘I don’t want to pay a buyer commissions as a seller. Tired of seeing real estate agents driving around in G Wagons and S Classes.’
Gonna take realtor commissions being cut by 50% and the abolishment of capital gains tax on home sale to get me out of my no mortgage coastal house. Pretty sure I’m not alone.
Everybody likes to pile on realtors/commissions but you can list your home for sale for $100 today. Plenty of realtor choices – don’t let that stop you.
Point is, between 6% closing costs and capital gains tax of approximately 33% on gains, most people aren’t going to sell in order to downsize out of a 3% mortgage. Especially when you are talking about gains in the 7 figures.
> ‘Tired of seeing real estate agents driving around in G Wagons and S Classes.’
For the record I have divested of the R Class Wagon. What a pig. Among my worst vehicle purchases.
At least it spent all its time on dry land. 😉
Point is, between 6% closing costs and capital gains tax of approximately 33% on gains, most people aren’t going to sell in order to downsize out of a 3% mortgage. Especially when you are talking about gains in the 7 figures.
The crazy part of our analysis is that the people who aren’t playing don’t matter. Most people aren’t going to move every year – maybe 10% wil take the money and run like the good old days but it is more like 5% or less which is the flashpoint.
This year the active inventory is 20% more than last year. The same 12% increase correspond to more houses on the market in absolute number (although we are still at very low levels)