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.
Haven’t seen that model Studebaker in years. Looks like it got smacked on the driver’s side. They’re so rare, a full rehab is in order for that pup… said the guy who wouldn’t be paying for it.
Dec 2nd:
Mortgage rates erased yesterday’s losses after today’s jobs report, though not necessarily because of it. The Employment Situation (affectionately referred to as “the jobs”) is traditionally one of the biggest sources of market movement. So when rates make a big move following the jobs report, it’s only natural to assume a cause and effect relationship. That said, most of the credit for today’s move goes other places.
First of all, there’s the simple fact that rates have been trending so decisively higher in general. Just yesterday, I noted that we were increasingly likely to see a rebound as rates continued to push the boundaries of past precedent. In other words, rates have risen about as quickly as they ever have, and it’s common for any financial instrument to blow off some steam in such cases. So that’s part of today’s story.
The other consideration is Europe. There are several important events coming up in Europe over the next week and they’re adding to market volatility. The effects were bad for rates yesterday, but European bond markets (which correlate by varying degrees to US bond markets, and thus, mortgage rates) came charging back today. The drop in Europe’s benchmark rates easily outpaced the drop in US rates, effectively dictating today’s momentum.
Rates ended up falling by the same amount they rose yesterday, making today one of the most abrupt reversals for lender rate sheets, ever! Lenders that had moved up to quoting 4.25% yesterday on top tier conventional 30yr fixed scenarios are now back down to 4.125%.