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.
“IF they are accurate about the future of San Diego home pricing, then either you can sell your house now for today’s prices, or wait until 2025 and sell for about the same.”
That’s pretty much how I see things going.
Unless banks turn on the foreclosure machine again. Which would be incredibly difficult with California politics as they are right now.
If “homeowners” can live in their house for months/years at a time without making a mortgage payment. Economic downturns will only pause the upward pricing trend. In Economics this concept is called Price Rigidity. Traders and Finance people call it Prices are Sticky (usually on the way down.)
https://en.wikipedia.org/wiki/Nominal_rigidity
Banks will foreclose without mercy this time if their balance sheets are healthy enough to sustain the damage .
The only reason they dragged the foreclosure process post 2008 was because they were themselves bankrupt.
We had to give them trillions in bail outs and get rid of the mark to market rule to save them from themselves .
Things are different now, Fed is subsidizing them directly by paying billions in interest, absolutely criminal.