A tour of the recent flippers around Carlsbad, +1:
Flipper Crazy
17 Comments
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
The 5 bed, 4 bath, 3492 sqft home on Gabbiano Ln, was purchased for $720K? Which side of the street is better and is the noise that bad? Not sure how I would feel having all that vehicle lagoon access traffic. The garage would have to be kept shut 100%
3rd house from the corner backing up against Hwy5 – $755K, 4/2008. 2926 sqft.
2rd house from the corner backing up against Hwy5 – $709K, 10/2008. 3492 sqft.
Grey? GREY?!? What were they thinking?!?
And won’t a darker shade absorb more heat during the summer? There goes the AC bills!
That light blue house halfway through with that light plane noise-I thought you were going to replay a scene from World According to Garp!
Early 2008 was the point where those who purchased in 2003 – 2005 had just enough equity to where they thought they could steal a house. There is an entire group of owners who thought, better sell now before current equity drops to buy a bigger house in another location. The problem with that line of thinking is you play with bigger dollars, you lose more of it when the market drops.
How many were able to make a successful lateral? I suppose if your equity is going to drop, it might as well be in a bigger house? I dunno.
I’m not sure what the flipper on Gabbianno is thinking. $1 million+ for that? with noise and the view of the 5, and the lagoon traffic? No way. If I had a million to spend there are so many better places I could buy for that $.
^But it’s a million dollar view! At 1000 vehicles an hour per lane, it’s a billion dollar view!
Trying to clip a $200K profit in 6 days?
Pure greed and arrogance.
The flippers in Carlsbad have to be sweating right now. A bunch of new listings popped up on Friday (REO’s, shorts, regular sales, everything,) and you have to figure it’s just getting started. Buyers looking in the $600k+ range want a deal. We can rent or buy a cheaper house – we’re not desperate. Personally I’d refuse to give some flipper a profit just on principle (well, I might stomach $50k or so if I really, really loved the house.) With all the tract housing in Carlsbad, you can just wait for another similar home to come along.
Great video, Jim – absolutely current and relevant for buyers. It’ll also be interesting to see what happens with the flippers over on Rancho Cortes. They’ve got some competition.
Disgusting to see that battleship grey on the 1920’s stucco spanish! Saw the same thing here in SA from some flippers, when it didnt sell in 100 days they decided to paint it and finally got er done. Great update Jim.
Not only did they paint that last house battleship grey, they took the cheap way out and removed a screen from the front window instead of replacing the matching screen on the other window edge!
To tell you the truth, I wouldn’t buy a house from a flipper because I know they have no motivation to do things right…they are out to maximize profit.
For many (including me) who want the ‘free’ market to dictate housing terms there are just as many in that neighborhood that want that Lagoon house to sell at $1M. But them some are thinking, sell low so they can modify their loan. Things are getting way too complicated when it doesn’t have to be.
I guess the question is could many of the desired $200K plus flips even appraise for their asking price? From the processors standpoint I think it makes sense to sell for up to $100K less at the courthouse, since commissions, taxes, concessions, etc could cost them that much. This is probably the same reason the flippers are looking for $200K more, but their income is not my responsibility.
It’s not just the REOs that will be their problem but the new and improved expedited short sale coming to a neighborhood near you in 2010. Banks are going to pre-approve the short sale price prior to listing and try to close them quick. Timber………
Here I was waiting for that million-dollar view you spoke of, JtR. I was expecting to see some peek of the Pacific–and then you pan over to the 5 Freeway with what must be a million cars a day. Cracked me up! Mahalo for the Monday morning chuckle. You’re the best, Jim, simply the best!
It looks like some of the flippers who bought in 2009 are trying to make their exit at the same time (again). Just like the peak of the mania in 2003-2004, the extremely low levels of inventory and manic buying were a warning that speculation was a primary driver of sales. It was soon followed by large increases in inventory. In some of the areas we’ve been following, almost all new listings are overpriced flippers trying to get out. It will be interesting to see who makes it out alive.
million dollar “Detroit Lagoon” views
The whole thing is just so manipulated right now, its been best descibed as musical chairs. The government keeps changing the rules mid game, its anybody’s guess whats going to happen. One thing I have to say is, these flippers are throwing some big cash down with a huge risk as in a moments notice a flood of reo’s can be released and crush them, maybe their anticipated returns are justified?