Issue #213
In This Issue
Welcome / This Week's Special Offer
Welcome To The Latest Issue
Hello and thank you for dropping by. By now, you must have seen the video of the cab driver in Britain who went for a job interview, but was mistaken for a music downloading expert and was interviewed on live BBC TV. If you haven’t seen it, click here: BBC-Cabbie
Now, on to the real estate world…
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A Sad
Sod Story
Did you
read in the Union-Trib Thursday about the guy in Adelanto in the Mojave Desert?
He discovered that his entire front yard – sod, bushes, and sprinklers – had
been stolen! Witnesses saw the thief taking the items to his own area home.
Police arrested David Roger Bowers and booked him for grand theft and possession
of stolen property.
Interested In Positive Cashflow Apartments With No Management Hassles?
Want a hands-off real estate investment with 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
$3,000,000 to invest and want to find out more...Call me at (858)457-KENT
or
CLICK HERE for info on the Positive Cash-Flow Apartments
FREE MLS Online Search For A San Diego or Riverside Home
To search for a home right now, click here:
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Homesearch
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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
It’s Back…
FREE SEMINAR June 28 / Wednesday 6-8PM
At "Forum Hall" at the UTC Mall in University City
"Discover Exactly Where I'm Investing MY Money In 2006"
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- Want to build wealth through real estate?
- Want to buy real estate 10% below market value?
- Want an easy, hands-off investment you don’t have to manage?
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- Want your only responsibility to be cashing your monthly check?
This is the best real estate opportunity I’ve found in 22 years in the business.
I believe in it so much that my wife and I are investing a bundle of our own
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month.
If you have 100K to 3M to invest and want to find out more about this
opportunity…
CLICK
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Sandwiches & drinks provided + free dinner drawing. No obligation. Come, listen,
ask questions, then you decide…
To RESERVE YOUR SEAT at this free presentation now,
click
here or call (858)457-KENT!
Homebuying Question
"Hi Gary. I saw a little condo
near SDSU for sale. The agent was advertising it as being $35,000 under Zillow
Zestimate. I’m not sure what they’re talking about. Does that mean it’s a good
deal?"
***ANSWER:
Nope.
What that means is the agent is trying to sway anyone foolish enough to think
that Zillow’s market valuations (‘zestimates’ as they cutely call them) have
ANYTHING to do with reality.
As I mentioned in previous newsletters, I’ve found the estimates from Zillow to
be grossly and pathetically inaccurate.
One real estate columnist advised his readers not to rely solely on the site,
but to use its value estimate function as a resource.
I disagree 100%!
Zillow is so far off the mark, you might as well be using tea leaves and tarot
cards. (Don’t you wish I’d tell you how I really feel!?)
By the way, a quick aside…
An agent I know, who’s also a hairstylist, told one of my agents that Zillow was
going to put Realtors out of business. My agent ‘zinged’ him right back by
telling him that the Flow-Bee would put him out of business. (C’mon, you
remember those Flow-Bee commercials from the 60s and 70s, don’t you?)
"Hi Gary, I heard somewhere that it costs about 7% to sell a home: 6% for the Realtor and 1% for other costs like the title and escrow companies, etc. Are there any hidden costs I should look out for?"
***ANSWER:
There are several categories of items that you be aware of:
1. Costs of OWNING
a) Prorated Interest – Your loan payment is paid “in arrears” (your June 1 payment pays for May), so you’ll likely have to pay some accrued interest on your loan(s) at closing.
b) Prorated Property Taxes – You may have a credit or debit of several months of property taxes, depending on when you sell
2. REPAIR Costs
a) Misc Repairs – Nowadays, buyers have home inspections and ask for repairs. It's part of the process and you should expect that you’ll have to pay for some. Expensive fixes are foundation or roof problems.
b) Pest Control (Termite) – Not legally required, but 99% of buyers expect a full clearance. Get a report early and avoid surprises.
3. TAX Costs & Withholding
a) Income Tax - Lived in and owned the house for at least 2 of the past 5 years? You're most likely exempt. If not, talk with me AND see your tax professional.
b) FIRPTA & Cal-FIRPTA - U.S. and CA taxpayers are exempt. Otherwise the feds or state may withhold funds from your sale.
4. MISCELLANOUS
a) Prepayment penalty – You probably don’t have one. But double check your loan papers to be sure. Find your “Note” or “Trust Deed Note”. FYI: It MUST say the word NOTE or you are NOT looking at the right document!
b) Liens & Judgments - Forgotten or erroneous items can crop up and must be paid or dealt with.
c) Closing Delays – This could cost you added interest, taxes, insurance, & maintenance.
Investing or Financing Question
"My friend was buying a home. The day before closing he went to sign his loan papers and they were wrong. The agent pushed him to sign them anyway and since he didn’t want to lose the house, he signed. Two days later he told me about it and I convinced him to demand the correct the mistake, but they told him the escrow had closed. Doesn’t he have a 3-day right of rescission?”
***ANSWER:
Contrary to popular belief, there is no right-of-rescission with purchase loans or real estate contracts.
The only real estate contracts that I’m aware of that have a 3-day right of rescission are refinance loan documents. In fact, that often causes delays when someone refinances to have the money to buy a home. Because that 3-day rescission CANNOT be waived, you must wait the time out before you can close a refinance.
For your friend, I suggest he goes back to his lender and negotiates some concession for their error.
Hot Properties: Call Now On These Hot New
Listings & Not-Yet-On-The-Market Properties
|
THIS WEEK'S FEATURED PROPERTY! | |
 |
Bay Park Beauty Rare opportunity in Overlook
Heights. Near USD
|
|
For information on other Wonderful Homes Click here. | |
"COMING SOON"
(Click Contact Me to be contacted BEFORE these properties hit the market!)
- Clairemont – 4BR/2BA “Parkwest” home w/ family room across from Gershwin
Park tennis, basketball. 520-560K! Contact Me
- Lemon Grove – Remodeled 1700sqft home on over 1/4 acre. Quiet street, 2-car garage, stunning kitch. 480-520K Contact Me
- Linda Vista – 3BR/2BA fixer-upper house w/ spectacular valley & city
views! Priced to sell @ 459K! Contact Me
- North Park – Duplex: 2BR + studio. Ideal to live in one & rent the other. Should be under $500K… Contact Me
- University City – Stunning & spacious “west end” home on quiet street w/ lovely views. Details & price to follow. Contact Me
- USD/BayPark/Mission Valley – Four 3BR/2BA condo conv, owner will
remodel & decorate to you specs. FPL, views. From 470K! Contact Me
NEWLY LISTED (Your Home Here!)
- Bay Park – Attractive price for this 1400 sqft, 3BR house in “Overlook
Heights”. More details & price to follow…
Contact
Me
- SOLD/Clairemont – Amazing price for a cute 3BR/2BA townhome with garage,
FPL, large patio/yard & remodeled baths. Mid/high 300’s!
Contact
Me
- Carlsbad – Newer 1766sqft, 3BR/2.5BA “Harbor Pointe” home on culdesac near beach. Remod kitchen w/ granite. 695K-705K Contact
Me
- Clairemont – Cute, clean 3BR/2BA home w/ 2-car garage, FPL, dbl-pane
windows, lots of upgrades, nice yard: 475K-525K
Contact
Me
-SOLD/Clairemont – Customized 3BR/2BA house- expanded upgr kitchen, fam room, big yard, rooftop views: 529K-579K Contact
Me
-
SOLD/La Jolla – Cute 2BR/2BA condo end unit. Offers hardwood floors, new carpet, xtra windows, security garage: 430-470K Contact
Me
- La Jolla – Newer 2BR/2BA condo, heart of downtown La Jollawalk to shops, restaurants! Marble, granite. 650-725K Reduced! Contact
Me
-
SOLD/Mira Mesa – Sunny 2BR/2BA top-floor corner/end unit w/ redone kitchen, dbl-MBR floorplan, large patio, quiet location: 315-335K Contact
Me
- Mission Hills –6251 sqft view homesite on culdesac! Ready for you to build your custom home. Great area. Price cut to 229K! Contact
Me
- Mission Hills –7500 sqft view homesite on culdesac! Ready for you to build your custom home. Great neighborhood. 239K! Contact
Me
- Mission Hills –7500 sqft view homesite on culdesac! Ready for you to build your custom home. Great neighborhood. 239K! Contact
Me
- Mission Hills – Build your dream home on this 9500 square foot buildable view lot. Price cut $96,000 to just $249K! Contact
Me
- Mission Hills - Attention Contractors / Developers / Investors! Build up to 11 homes on this 30,753 sqft canyon view lot. 849K! Contact
Me
- SOLD/Pacific Beach – Fixer-upper house in “Pacifica” in north P.B. 3BR/2BA, 1674sqft. 2-car garage. Just 750K w/ a 10K repair credit Contact Me
- Pacific Beach - Development Opportunity! 3BR home, approved plans to build 2 condos. Resell or rent. Reduced: 775-850K Contact
Me
- SOLD/Pacific Beach
- Motivated Seller! 5BR/3BA “Harbour Hts” home on culdesac. Family & bonus
rooms, FPL, 3-car gar! 900K-1M Contact
Me
- Phoenix, AZ - 12 apartments, 4x1BR, 4x2BR, 4x3BR. Fully renovated.
Condo conversion opportunity? $1.068M.
Contact
Me
- Phoenix, AZ - Cashflow apartments, zero management, 15% under-market!. 1031 exchange OK. $100K to $2M down. Contact
Me
- San Marcos – Large
1060sqft 2B/1.5BA condo w/ garage & private patio. Pool, spa, tennis pets
allowed. 295-329K Contact
Me
- Scripps Ranch- Handsome newer home
on quiet street! Offers 19' ceilings, travertine, hdwd floors, family room.
700-750K. Contact
Me
- Vista –Secluded hilltop 4br/3ba, 3000sqft newer home on 1/2 acre! 3-car garage, panoramic views, more! $749,999-$799,999 Contact
Me
Call me at (858)457-KENT to find out more or arrange a private showing...
Thank you Gary & Linda B. for
referring a friend…
Thank you Elsie S. for referring me to a neighbor to sell a home…
Thank you Gary K. for referring a friend to sell his home…
Thank you Karen S. for referring your friend to buy a home…
Have a great week...
"The Agent You See EVERYWHERE"
All-Time #1 Agent/Team In San Diego County for RE/MAX
22 Years Experience -- 3,000+ Homes Sold
Gary Kent Team --- RE/MAX Associates
(858)457-KENT --- (858)457-5368
GaryK@GaryKent.com -- http://www.garykent.com/
Due to production and shipping expense, free items are available only to residents, owners, and people planning to purchase real estate in San Diego.
