San Diego Real Estate

Issue #199

In This Issue

  1. Welcome / This Week's Special Offer

  2. Gary's Real Estate Seminars

  3. Homebuying Question

  4. Homeselling Question

  5. Investing or Financing Question

  6. Hot Properties: New Listings BEFORE They Hit The Market

  7. Thank You For Your Referrals

Welcome / This Week's Special Offer

Welcome To The Latest Issue
 We’ve got a lot to go over today: a GREAT investing seminar coming Thursday.  An innovative new loan program letting you make ZERO payments for up to 12 months.  Several HOT new listings.  Plus plenty more.  Let’s get started… 

FREE MLS Online Search For A San Diego or Riverside Home
To search for a home right now, click here: Free MLS Homesearch

Make ZERO Payments ‘Til 2007 On Your Next Home
New MORTGAGE VACATION PROGRAM (MVP)
How would you like to buy your next home and make NO mortgage payments until 2007?  I thought you might be interested.  For more information, CLICK HERE.

FREE SEMINAR Thursday February 16, 6-8PM
Interested In Positive Cashflow Apartments With No Management Hassles?
Sound too good to be true?  I've found a great opportunity I'm personally investing in.  If you have $100,000 to $3,000,000 to invest, you’ll want to attend this free presentation.  CLICK HERE. 

True Story: Some People Are Just NEVER Happy
When I was a newbie Realtor in 1984, a young couple with a cute baby had me sell their Golden Hill condo.  We asked $33,000(!) and soon accepted a great offer.  After acceptance, I didn’t call or do a thing for my clients.  My training was nonexistent and I was so dumb and inexperienced, I thought my work was over.  When escrow closed, the couple nicely said they wished I’d communicated more.  I remember thinking, “I sold their condo, so why are they complaining?”  To this day, I have no idea how their sale actually managed to close!  (Don’t worry, my service & communication are better now…) 

FREE DVD: How To Sell Your Home & Buy Another
There's 5 ways to coordinate buying a home while selling your old one. One is best. Another's a recipe for disaster. Discover the pro's and con's of each + smart buying & selling tips. This DVD is a must if you're making a move in the next 12 months. You'll learn:

- Which of the 5 strategies works best for YOUR needs
- Don't be forced to give your home away for a quick sale
- The $5,000-$50,000 trap in the small print most people overlook
- Pricing to get top $$ for your home (it’s not what you think!)
- The HUGE MISTAKE agents make when juggling 2 closings
- Find out what your home will REALLY sell for in today's market
- How NOT to get stuck paying mortgages on 2 homes
- When is the very best time to list your home?
- Avoid being the "contingent buyer" sellers hate to sell to
- How do bridge loans work? Should you get a "HELOC" instead?

(Reminder: Due to the expense producing and shipping these items, they’re available only to residents, owners, and people planning to purchase real estate in San Diego County.)

 Send This Free Newsletter To A Friend
 Subscribe them with a quick email to Tell A Friend with their email address in the subject line.

Remember to email your questions, comments, compliments, corrections, critiques, & rebuttals to Questions
 

Gary's Real Estate Seminars

FREE SEMINAR  February 1 / Wednesday 6-8PM
"Discover Exactly Where I'm Investing MY Money In 2006"
. . . Positive Cash Flow Apartments With Appreciation & ZERO Management
At "Forum Hall" at the UTC Mall in University City
CLICK HERE for flyer, more info, & free signup

Looking to build your wealth through real estate?  Want a hands-off investment with appreciation and consistent positive cashflow?  Sound too good to be true?  I've found a great investment opportunity that I'm personally investing in, as have several of my clients.  If you have $100,000 to $5,000,000 to invest and want to find out more. . .
To RESERVE YOUR SEAT at this free seminar now, click here or call (858)457-KENT!

FREE SEMINAR  March 1 / Wednesday 6-8PM
"Sell Your Home (Or Rental Property) In Today’s Slower Market"
At "Forum Hall" at the UTC Mall in University City
 CLICK HERE for flyer, more info, & free sign-up

The San Diego market has morphed from a sizzling seller’s market into a cooler buyer’s market.  If you’re thinking of selling your home or investment property in 2006, you need to attend this free seminar.
 To RESERVE YOUR SEAT at this free seminar now, click here or call (858)457-KENT!

Homebuying Question

"I have a question.  Does the seller always have to tent their home for termites when they sell?”

***ANSWER:
The two main categories of pest control work are "Section 1" and "Section 2".  Section 1 covers current problems (e.g. termites, dry rot).  Section 2 covers preventative items (e.g. "earth to wood contact" that may lead to dry rot).

The accepted practice in southern California is for the seller to provide you a "Section 1" Pest Control Clearance.  If the inspector finds drywood termites in an isolated area, they may be able to do a local treatment if the inspector thinks he can get all the termites.   

If the drywood termites have spread too much, they'll need to tent the home or use other non-traditional means, like microwaving or freezing.  If an inspector finds "subterranean" or underground termites, other methods are used.

So whether the home is tented depends on whether, where, and what kind of termites are found.   

KEY POINT: Be sure your agent has you ask for a Section 1 Clearance.  If not, the seller doesn’t have to do anything!

Homeselling Question

“When someone is considering selling and if they want to speak with you regarding how much their property is worth, do you charge a fee for this or only give them a guesstimate? I want to make sure I understand...They have to get a separate appraisal since the value you provide isn't considered THE appraisal, right?  Thanks for any info…

***ANSWER:
Excellent question…

If someone is considering selling a home or other property, I provide a FREE estimate of what price they can expect.  Having done estimates for clients for 22 years, these estimates tend to be pretty accurate.

Appraisals are typically done by the buyer’s LENDER, as the lender wants know the property--which is their security for the loan--is worth what they’re being told.  Of course, if the buyer pays all cash, no appraisal is required.

Buyers and sellers are free to pay for their own appraisals, typically $350 and up, but rarely do.
 

Investing or Financing Question

INVESTING:
I was wondering if your cash-flow apartment investment makes sense if I would be using my HELOC to finance it? Is the cash flow enough that it would pay down the HELOC and still flow?

***ANSWER:
(FYI, she’s asking about the Phoenix investment opportunity I’ve been mentioning in this newsletter: “Interested In Positive Cashflow Apartments With No Management Hassles?”)

Many people invest using a HELOC (Home Equity Line of Credit) on their home. 

The general partner in the Phoenix apartments typically projects approx 5% 1st year return, 7-8% 2nd year, 8-10% 3rd year.  The good news: I believe he usually beats his projections. 

More good news: Those cashflow projections don’t include appreciation.  Properties I’ve seen him buy have always been 10% to 20% under market.  And if the market appreciates, the profits should be even better.

Now, to actually answer you question!

Based on his past performance, if you borrow your entire down payment at 6%, your 1st year should about break-even,  2nd year positive, 3rd year even more positive, allowing you to pay down your HELOC.  …And that does NOT including the price increase / appreciation.

While there’s NO guarantee on cashflow or price increases, I’m investing a lot of my own money, so you know what I think.

To find out more, come to our FREE seminar this Thursday, Feb.16.  The general partner is flying in from Phoenix to explain how the investment works and answer questions.  Click here to see the attached flyer for details.

Hot Properties + New Listings BEFORE They Hit The Market

THIS WEEK'S FEATURED PROPERTY!

Live in the Village in La Jolla

Top-floor corner/end unit in security building. 
Lovely upgrades, view balcony, beautiful sunset views
In the heart of the Village of La Jolla

  • Square footage 1,000
  • BR/BA: 2/2
  • Price $675,000 - 750,000

View more beautiful La Jolla Homes online right now.

"COMING SOON"
(Click Contact Me to be contacted BEFORE these properties hit the market!)
- Carlsbad – Spacious 1766sqft, 3BR/2.5BA townhome in “Harbor Point” near the beach.  695K-705K Contact Me
- La Jolla – Cute 2BR/2BA condo end unit. Hardwood floors, new carpet, xtra windows, security garage: 430-470K Contact Me
- Pacific Beach - Large 5BR/3BA house on culdesac.  Family room, bonus room, 2 FPL, 3-car garage, & more!  Contact Me
- North Park – 4 units, including 2 large detached houses.  Price to be determined.  Contact Me
- Scripps Ranch – 3BR/2.5BA townhome with 2-car garage. Spacious MBR w/ cathedral ceilings. 385-425K! Contact Me

NEWLY LISTED (Your Home Here!)
 - Mission Hills – Build your dream home on this 9500 square foot buildable view lot.  $395,000. Contact Me
- Mission Hills –6251 square foot view homesite!  Ready for you to build your custom home.  $345,000. Contact Me
- Pt. Loma - Stunning triplex w/ breathtaking ocean vu.  Live in 3BR house, rent 2BR & 1BR units for income.  $1.45M-1.575M. Contact Me

MORE GREAT HOMES & INVESTMENTS (Your Home Here!)
- Bonita area – 2BR/2.5BA condo a short stroll to Plaza Bonita!  Offers oversize garage, in-unit laundry, FPL, tennis.  355-375K View Contact Me
- Clairemont - 3BR/2BA home w/ dbl-garage on quiet street.  Nice bkyd, wood parquet floors, new carpet.  Low price: 475-520K Contact Me
- SOLD - Clairemont - Enjoy canyon views & breezes! W. Clairemont 4R/2BA home w/ dbl garage & basement. Reduced: 499-530K Contact Me
- Clairemont - Spacious 3BR/2BA home w/ HUGE 580sqft family room/ "great room"! Quiet street, 2-car garage. Reduced: 575K Contact Me
- La Jolla - 3BR/2BA 1-level home on quiet street. Large lush private bkyd, redone kitch & BAs, valley vu, tennis! 720-750K Contact Me
- Mission Hills - Attention Contractors / Developers / Investors! Buildable lot suitable for 10-11 homes. 950k-1.15m!  Contact Me
- SOLD/Normal Heights - Newly converted 1BR condo w/ granite counters & all the extras.  Great location.  $245-255K Contact Me
- Pacific Beach - Development Opportunity! Redone 3BR home w/ room to build 2 condos. Resell or rent. Reduced: 775-850K Contact Me
- Pacific Beach - Light & airy 3BR/3BA townhome condo w/ 2-car garage on quiet street. Extra room. A BARGAIN at $625,000. Contact Me
- Phoenix, AZ - 30 apartments, large 3BR & 2BR units, well-maintained complex, Mesa area. Do a condo conversion? $2.1M.  Contact Me
- Phoenix, AZ - Cashflow apartments, zero management,  under-market prices.  1031 exchange OK.  $100K to $5M down. Contact Me
- Pt. Loma - Point Loma Tennis Club ground-floor corner unit w/ remodeled bath. Big rooms. Looks like a model! 275-300K! Contact Me
- SOLD/San Carlos - Cute 1BR condo w/ greenbelt view on a quiet culdesac. Incl new paint, frig, walk-in closet. Reduced: 210-233K Contact Me
- University City - Striking 2004 full remodel 3414sqft home: 1/2-acre culdesac lot, flowing floorplan, vivid colors. 988K-1.15M  Contact Me  
- USD Area - Light & bright 3BR/3BA 1431sqft townhome w/ 2-car garage, quiet area. Priced BELOW recent sales & reduced: 535K!  Contact Me
- Vista - No Payments ‘til 2007! Seller makes your payments! Secluded hilltop 4br/3ba, 3000sqft, home on big lot: 790-820K Contact Me

Call me at (858)457-KENT to find out more or arrange a private showing . . .

Thank You For Your Referrals

Thank you Jeff, Janice, Ken, & Lori for all your kind referrals!

Have a great week . . .

GARY KENT

"The Agent You See EVERYWHERE"

All-Time #1 Agent/Team In San Diego County for RE/MAX

21 Years Experience -- 3,000+ Homes Sold

 

Gary Kent Team --- RE/MAX Associates

(858)457-KENT --- (858)457-5368

GaryK@GaryKent.com -- www.GaryKent.com