Feel like spending around $1.3 million or so?
Here’s what it’ll get you in the Convenant of Rancho Santa Fe:
RSF vs. The Rest
29 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
I love that lot! My dad really liked it, but he said that he would want to build a new home. The problem is that when we built our house in Leucadia, it went way, way over budget and it took a year and was a big hassle.
He wants to know how much you think it’ll cost to build a 3,000-3,500 sqft home…single story…high quality spanish style home with a pool.
Is it worth it?
Now THAT’s what I’m talkin’ about!!!
Had you mentioned a “million dollar tract home” just a decade ago they’d have shipped you off to a padded cell; frankly, I still find the idea ridiculous.
This, OTOH, is the stuff that dreams are made of. Sure, the house is out of date but still entirely livable; hell, it’s still quite nice and spacious. But that lot/location? WOW! Love the trees, too.
Can’t wait to see the video of G-man’s…
Is it worth it?
IMHO… YES!!!
I see in sdlookup listing that the house was sold for $615,000 in 1987. Back then it was A LOT of money. (To put that price in perspective, back in the day, you could’ve gotten a very nice house in RB or PQ for 150-180 grand.)
At 1.279, the place has definitely failed to appreciate by the same amount as much of the county, or even its RSF neighbors.
At least two neighbors made it like bandits, though: 15440 and 15465 Las Planideras were probably very similar to this one originally; their owners razed them, built 7000+ sf megamansions, and managed to flip them for 7 mil and 5.5 mil respectively. There may be something to your idea of razing and rebuilding.
I wonder how much these houses were worth in the 50’s, when they were built. Couldn’t find that info anywhere.
What’s the address?
When I saw it last year, it was listed for $1.5 or $1.6. Very nice view, but very dated.
It just totally killed it for us when we saw those million dollar stoves. The MBR redeemed the house a bit, but still the price was too high. At $1.28, it’s at a good price. I figure $400k for a teardown and rebuild, and you could have a $2-2.5M estate. There was room down the lot at a lower level to build a guest house too. If you have small kids, there is little room to run around, but if you have 6+ years old, it’s a great place to explore like JtR said.
One of the best things about people: that we all have different tastes! 🙂
I’m with tj on this house. It’s pure paradise just the way it is. If not for the isolation, we’d jump on that in a hot second.
It’s a shame people think houses like these need to be torn down. For people who like ugly, stucco boxes, there are plenty to choose from. Leave these gems to those of us who truly appreciate them. We can’t build any more old-school houses with a history (even if it’s just the history of another family living there). Some of us really like the feeling of these older homes.
Thanks for sharing this, Jim.
It’s not all that isolated. Sure, you won’t see your neighbors much, (not to mention they’ll snub their noses at you for being a cheapskate and buying a 1.3m house) but it’s in a very nice location. Two miles from the freeway, three miles from the beach. RSF gets a lot more isolated than that.
for some reason this seems like a better deal…
http://www.ziprealty.com/buy_a_home/logged_in/search/home_detail.jsp?listing_num=100014593&mls=MLS_SANDIEGO&source=SANDICOR&propertyType=SFR
Ah, see, that just seem so much more worth it to me that the tract homes. Just out of question, would the zoning in RSF allow you put two homes on that lot?
Nameless,
Yes, it’s convenient enough. The isolation I was referring to was the social isolation. With kids, we really want to have more of a neighborhood feel (but with larger lots than the newer properties have). Something like this RSF home, but with a half-acre lot or slightly less, depending on the topography.
It seems to me that some high-end property values are still falling like a stone and this doesn’t bode well for the mid-tier properties. The way things are going, my best guess for the bottom of the high-end market is mid 2001 nominal pricing plus or minus a 10-20% fudge factor depending on uniqueness of the property.
How about a guessing game as to what that piece ultimately closes for.
I submit $1,465,000
-s
I would guess that these were worth about $65-$70k when they were new in the 50s. Recent appreciation has definitely been less than what occurred during the 70s and 80s.
I simply am baffled by the CV real estate prices. Over the mountain, in Palm Desert, we just received the card in the mail from the local real estate agent with the latest numbers from our neighborhood. Comparing top to bottom prices, there has been a 52% reduction in price over here. Just putting things in perspective with the other side of the mountain point of view. Its a smoldering crater over here.
The big scrape/build question.
Answer: It will cost a lot more than you imagine in order to deliver a product that will command a strong price and be of “RSF” quality.
Let’s take a ‘smaller’ house that is more reasonable in todays world, say 4,000sf of buildable space.
RSF quality/finishes = $300/sf including basic pool, adequate landscape, and nice finishes inside. This could rise to suit your tastes, but while it is very, very nice for non RSF tastes, those with wealth will have expectations of this level.
Thus:
$1.2mm teardown/build
$200k plans, permits, art jury, engineering, etc.
$100k construction loan interest/fees
$1.2mm current lot price
—————-
$2.7mm is your COST (i.e. no profit)
$675/sf
Sure you could cut your const down to whatever you want, but then your sale value will drop as fast (or faster) as each dollar you spend as their are LOTS of alternatives north of $2mm.
If I was to build a spec for profit I would want a 20% profit on my cost and risk, or $500k, which puts your needed resale value at:
$3.2mm which won’t fly today very comfortably.
Hence why no one is starting any spec homes.
PS: It is also why all the homes built were so big…so we can amortize the lot value and fees over a larger area and bring down our $/sf.
Lastly, no way you can split a lot in RSF, just isn’t going to happen 99.999% of the time. Plus your plan approval is going to take you apx 2 years between design and RSF Art Jury approval…and they will only demand changes that cost you more $$$ not less.
As a spec I would only pay $800k for the lot given todays housing prices.
What is an art jury?
The isolation I was referring to was the social isolation.
CA renter,
Were you a city kid? I grew up in the country where the smallest spreads (like ours) had at least 5 acres. Socially it simply isn’t an issue; kids find each other one way or another.
clearfund,
It may not readily pencil out as an investment, but if you were looking at it as a place to realize a dream (and live out your days there) then it’s a different ballgame.
Well, I’m certainly not a kid anymore, but that canyon Jim showed made me drool. Yep, it reminded me of when I was a kid. Beautiful and peaceful = just perfect!
Osidebuyer – I’ll go out on a limb and guess that the “art jury” is the panel of local concerned citizens that want to decide what you are or are not going to build in their jurisdiction. Your taste will have to match their taste.
See also: Santa Barbara.
We had an oven just like that one when I was a kid. What did they call that color? Coppertone brown?
I love that house.
What a nice lot and probably the best value I’ve seen so far Jim.
It appeared there was a view in most directions, the area was quiet and yet location is close enough to all the main areas of interest (freeways, beach, etc).
It would be a tear down for me though.
What’s interesting is the price premium this house has simply by the virtue of being in Rancho Santa Fe.
Take this house and this lot and transplant it exactly as is, trees, views and all, into Coronado Hills, Escondido, El Cajon, Jamul, or any other place where acreage is common, and you’ll find it hard to get 700k for it.
In RSF, it’s listed at 1.3m and it gets multiple offers during the first week on the market.
A quick google search tells me it’s an RSF thing.
“I would guess that these were worth about $65-$70k when they were new in the 50s. Recent appreciation has definitely been less than what occurred during the 70s and 80s.”
I don’t know if we will ever see the kind of inflation we saw in the 70’s and 80’s again in our lifetimes. It was absolutely hideous.
Here is an example of the power of inflation and this is the midwest. A 40 acre lot very good farm land creek bottom. The lot has been in my family since the 70’s. We paid about $400 an acre and it just sold for $6000 an acre. That is 1500% gain. The land probably would have brought even more a few years ago when corn was $8 a bushel. Most of the inflation occurred in the 70’s and 80’s.
This is why IMHO that everyone seems to be programmed to fear inflation.
No way I would ever buy a rebuild in the Covenant. An old co-worker of mine got jammed up terribly by the Art Jury on a teardown. I love the RSF layout but couldn’t deal with RSF neighbors. Buying into the Covenant puts you at their mercy which is not the point of living in RSF
Also those are eucalyptus trees in the back. You know the ones that explode during a fire…
We didn’t want to buy a rebuild either. The best we’d do is buy an updater. If the house has nice bones, you can put whatever skin you want on it.
The isolation I was referring to was the social isolation.
CA renter,
Were you a city kid? I grew up in the country where the smallest spreads (like ours) had at least 5 acres. Socially it simply isn’t an issue; kids find each other one way or another.
tj & the bear | March 13th, 2010 at 3:37 pm
————————–
Kinda city kid. I grew up near where you live now (I believe), in Woodland Hills.
Suburban kid, through-and-through. 🙂