Issue #243
In This Issue
Welcome / This Week's Special Offer
Welcome To The Latest Issue
Merry Christmas, Happy Hanukah, and Happy Holidays! I hope your shopping is
about done. …Speaking of shopping, December is historically a great time to buy
a home because there’s so little competition. …Congrats to LT for breaking the
TD record. After LT tied the record, my best friend’s friend who drove us to the
game said he wanted to go. We left and were in the parking lot when we heard the
crowd suddenly roar (Merriman forcing the fumble at the 7). We sprinted back in,
avoiding security, darting between fans leaving, but missed seeing LT’s
record-breaking TD by 3 seconds. Oh well.
FREE MLS Online Search For A San Diego or Riverside Home
To search for a home right now, click here: Free MLS Homesearch
CONTRACTOR NEEDED To Fix
Foreclosures For Banks
We need a 100% dependable contractor for preparing bank foreclosures for sale.
The jobs are small/medium: hauling junk, carpet/flooring, painting, repairs,
minor remodeling, etc.
Requirements:
- Licensed w/ worker’s comp
- 24-48 hour turn-around MAX for bids
- OK w/ getting one job for every 2-3 bids
- Fast work, done on schedule
Interested? Call Bob @ (858)535-7407.
True Story: Anger Management Needed
Years back an agent called me, fuming. His sign rider (the little sign with the
agent’s name that sits on the For Sale sign) was missing from a house he had for
sale. Since we worked the same territory, he’d decided I was the perp who swiped
it. So, as any sane person would, he wanted to meet me somewhere and duke it out
over this $10 item. That made perfect sense to him, but not to me, so I
declined.
U.S. Cities Ranked 2006: Most
Educated Populace
Here are cities from the CNN/Money
“Best Places to Live” database where residents play the most golf. (100=national
avg., 200=twice national avg.)
1. 141 Coconut Creek, FL
2. 139 Palm Harbor, CA
3. 134 Palm Desert, CA
4. 133 Lake Havasu City, AZ
4. 133 Woodbury, MN
6. 132 Yorba Linda, CA
7. 131 Boca Raton, FL
8. 130 Rancho Santa Margarita, CA
8. 130 Greenville, NC
10. 129 Diamond Bar, CA
Next Week: U.S. cities with the most tennis played.
Get On Our San Diego
“Foreclosure Hot-List”
Five major lenders have asked me to handle their foreclosures, and I’m
looking for a short list of investors or people wanting to buy a home or
investment up to 5-10% below market. If you’d like to be the first to find out
about them,
click here.
Another Real Estate Myth
Debunked
Myth: Don’t recarpet when you sell. You’re wasting your money because
buyers want their own color and will just tear the new carpet out. Offer a
carpet allowance credit instead.
Reality: People buy homes on emotion, not logic. Because a carpet
allowance appeals to logic and not emotion it’s not nearly as effective. If a
home has old, torn, worn, or funky carpet, it’s harder to sell and will sell for
less.
Help Wanted: Two Real
Estate “Buyer Agents”
Energetic, positive, hard-working person wanted to help people find their dream
home! We provide great training, coaching, and pay most expenses.
Bilingual/Spanish a plus, but not required. Call (858)535-7435 or fax
info/resume to Kevin @ (858)550-3410 or email
Jobs@GaryKent.com.
ATTENTION HOMEBUYERS:
FREE $450 Home Appraisal & FREE $300 Home Inspection
For a limited time, you’ll receive $750 in free services when you agree to use
us as your Realtor to buy a San Diego home or investment property, use our
preferred Countrywide Financial lender, and use any CREIA-member home inspector.
For more details or to take advantage of this offer, call us @ (858)457-KENT.
Send This Free Newsletter To A Friend
Subscribe them with a quick email to
TellAFriend@GaryKent.com
with their email address in the subject line.
Remember to email your questions, comments, compliments, corrections, critiques, & rebuttals to Questions@GaryKent.com.
FREE SEMINAR: Saturday, January 20, 2007 10AM-Noon
At "Forum Hall" at the UTC Mall in University City
Click Here For FLYER
Don’t Dare Buy or Sell…Until You Go To This Seminar:
2007 SAN DIEGO REAL ESTATE FORECAST
Fasten your seatbelts!
Sanford Goodkin, “real estate's leading guru” per the San Diego Union, internationally known real estate economist and advisor, will share his insider’s forecast for San Diego real estate in 2007. Mega-homebuilders pay him big bucks…for info you’ll get free.
And I’ll provide a review of 2006, including lessons learned from our changing
market…based on 22 years experience and surviving and thriving in past
challenging San Diego markets.
Here’s just some of the fascinating insights and information you’ll discover…
- 2007 Real Estate Forecast: "Soft Landing" or "Bursting Bubble"?
- 2006 Local Real Estate Review - From The Trenches
- An Insider’s perspective on the economy, real estate, & housing
- Bird’s eye view on other markets
- Why what you see on the news & read in the paper about real estate prices is often DEAD WRONG
- How will San Diego’s rising foreclosures and short sales impact the market? You may be surprised...
- Why today’s slowdown is NOT like the ‘90’s slowdown
Sandwiches & drinks provided + free dinner-for-2 drawing.
To RESERVE YOUR SEAT NOW for this free presentation, click here or call (858)457-KENT!
Homebuying Question
"Hi Gary. We just found the
perfect house and it’s at a great price. Even though we both agree it’s priced
right, my husband wants to offer quite a bit under the asking price. What’s the
downside to making a low offer?”
***ANSWER:
(Part 3 of a 4-part answer)
So What Makes An Offer A LOW Offer Anyway?
To answer that, you have to ask another question: “LOW compared to WHAT?”
The WHAT is one of either two things: the list price, or that elusive,
subjective thing called “market value.”
Restating that, an offer is considered low compared to either the list price or
the market value.
---List Price---
Most home-sellers decide if an offer is “low” by comparing it to their list
price. I submit to you that this is their reality, but it isn’t mine and
shouldn’t be yours. That’s because their list price may be below, at, or even
grossly over the market value. If you offer $550,000 on a home worth $500,000
that’s listed at $600,000 (stay with me), have you made a low offer?
---Market Value---
I believe an offer can only truly be called “low” by comparing it to the fair
market value. Specifically, in my opinion, a “low offer” is any offer 5% below
market value. And a very low or “low-ball” offer is 10% or more below the value.
But what IS market value? Who sets it? How is it determined?
That’s what I’ll answer for you next week…
"How do I know the agent I’m talking to isn’t
going to under-price my home for a quick sale?”
***ANSWER:
Great question. Here’s an answer that sounds like the right one, but may not be:
“Get a couple of other opinions.”
Now this isn’t necessarily a bad approach. But it doesn’t always work as you’d
think. The reason is that many agents will over-price your home out of ignorance
of the market, an abundance of caution, or desire to flatter you into a listing.
Here’s the answer that I think is better. I’m going to call it “REM”:
R: Agent’s Reputation
E: Agent’s Explanation
M: Agent’s Motivation
Reputation: If you work with a reputable agent, they’re less likely to
under-price your home. If they did, they wouldn’t be so reputable.
Explanation: Don’t just take the agent’s word on the price they come up with.
Ask for an explanation, which comps they used, how they compared, etc.
Motivation: You want an agent who is motivated by referrals, someone who wants
to make you happy so you refer your family and friends to them. You don’t want a
wham-bam agent who just wants to make a sale and move on. You want someone whose
business is driven by referrals from satisfied clients.
Investing or Financing Question
"Hi Gary. Yesterday my wife and I
got pre-approved for a mortgage by a loan broker. But we didn’t make a loan
application and he was late for an appointment, so I don’t even think he ran our
credit. In fact, we didn’t give him our social security numbers, so I don’t
think he could have possibly run it. But he did fax us a pre-approval letter. Do
you think we’re really even pre-approved?"
***ANSWER:
Unfortunately, no. Here’s a story I shared when someone else asked me the same
question a couple of years ago:
Awhile back, I received an offer on my clients' condo. Due to past experiences
with lenders who didn't perform, I’ve learned to be careful. So to protect my
seller-clients I often have my favorite lender talk with the potential buyer of
my client’s property.
In this case, we had trouble reaching the buyer, so my lender spoke with the
buyer's mortgage broker who pre-approved him. Here's a basic transcript of the
discussion...
My Lender: "What's his credit score?"
Other Lender: "It's 685."
My Lender: "How much does he make?"
Other Lender: "I don't know."
My Lender: "What does he do for a living?"
Other Lender: "I don't know."
My Lender: "Do you even have an application?"
Other Lender: "No."
So this lender "pre-approved" someone with no information but a credit score.
Fortunately, despite this sloppy, bogus "pre-approval", the sale went through.
But it could just as easily have gone the other way.
I recommend you talk further with your lender AND get a 2nd opinion from another
lender. Feel free to call me at (858)457-KENT and I’ll put you in touch with the
lender I use.
Hot Properties: Call Now On These Hot New
Listings & Not-Yet-On-The-Market Properties
|
THIS WEEK'S FEATURED PROPERTY! | |
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Beautiful Home
OPEN HOUSE SATURDAY 1-4 |
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For more information on this Delightful Home and Open House Click Here | |
"COMING SOON"
(Click
Contact Me to be contacted BEFORE these properties hit the market!)
- Allied Gardens – BANK-OWNED FORECLOSURE! 3BR house w/ double garage. Quiet street near Kaiser.
Price TBD.
Contact Me
- Bay Park – 3BR home with ocean, bay, & city views!
Quiet street, private yard, 2-car garage. In the 500s?
Contact Me
- Bay Park – Dramatic 3BR/2.5BA house w/ ocean, bay, city view. Soaring
cathedral ceilings, open floorplan. Low 600s?
Contact Me
- Chula Vista – BANK-OWNED
FORECLOSURE! Newer 3BR, 2.5BA, 1452sqft townhome w/ garage. $300s?
Contact Me
- Downtown – BANK-OWNED FORECLOSURE! 1BR/1.5BA ground-floor condo with direct street entrance.
Contact Me
- Downtown – BANK-OWNED FORECLOSURE! Under-market 2-year-new 2BR/1BA high-rise condo in Acqua Vista. Contact Me
- La Jolla – BANK-OWNED FORECLOSURE! Remodeled 3BR/2BA penthouse vu condo 2 blocks to beach. Price TBD. Contact Me
- La Mesa – BANK-OWNED FORECLOSURE! 3BR/1.5BA house with big yard, no garage. Should be high $300’s. Contact Me
- La Mesa – BANK-OWNED FORECLOSURE! 2BR house w/ garage, RV parking & big yard. Should be high $300’s.Contact Me
- Mira Mesa – BANK-OWNED FORECLOSURE! 4BR/2.5BA 1804sqft house w/ spa. Should be low $500’s. Contact Me
- Mira Mesa – BANK-OWNED FORECLOSURE! 2BR/1BA condo, 913 square feet. Should be mid-$200’s. Contact Me
- Pt Loma- BANK-OWNED FORECLOSURE! Very affordable 2BR house on quiet street. Should be in the $500’s. Contact Me
- Pt Loma – BANK-OWNED FORECLOSURE! Cute 2BR, 1227sqft house w/ garage, 6500sqft lot. High $600’s? Contact Me
- Spring Valley – BANK-OWNED
FORECLOSURE! 3BR/3.5BA 2792sf custom home, panoramic views. Low
$500’s?
Contact Me
- Tierrasanta – BANK-OWNED FORECLOSURE!
4BR/2.5BA 2592 sqft fixer house on quiet street. Mid $600’s?
Contact Me
NEWLY LISTED (Your Property Here!)
- Clairemont – Stunning 3BR/2BA home: maple/granite
kitchen, remod baths, dual-pane windows, pergo floors, more! 470-505K
Contact Me
- Pacific Beach – Elegantly redone cottage 2 blocks to Bay. Maple/granite
kitchen, travertine, hardwood, more! 650-700K
See For Yourself
MORE GREAT HOMES & INVESTMENTS (Your Home Here!)
- Clairemont – SHORT SALE! Nicely remod 3BR/2BA house: hdwd floors, dbl garage, quiet street, palm trees galore. Look For Yourself
- SOLD/Clairemont – SHORT SALE! Stunning remod 3BR/2BA house on quiet street in great neighborhood. Lo 500s! Find Others Like It
- Chula Vista – BANK-OWNED FORECLOSURE! Bargain price for this 3BR/2BA 1186sqft condo in “Woodland Hills” complex. 310K! See For Yourself
- Encanto – Upgraded 3BR/1.5BA home with HUGE grassy backyard & double garage. Price to follow. Take a Look
- SOLD/Escondido – Spacious 4BR/3BA 2029sqft house w/ large family room, huge backyard, corner lot, dbl garage: 499-535K Find Others Like It
- La Costa – Just-remodeled luxury Mediterranean-style 4,800 sqft estate on huge lot, right on La Costa Golf Course. 1.695-1.795M Look For Yourself
- La Mesa/Mt. Helix – BANK-OWNED FORECLOSURE! Mega-fixer 3BR house “contractor’s special” w/ dazzling views! 399,9K More Foreclosures Here
- North Park – ADD 3 UNITS to this 3BR
“cosmetic fixer vintage house built in 1933 on a 6250sqft lot. Asking 460-490K!
See For Yourself
- Tierrasanta – BANK-OWNED FORECLOSURE!
1584sqft 3BR/2BA townhome, dbl garage. Near pool, canyon. Now $464,900 Take A Look
Call me at (858)457-KENT to find out more or for a private showing. To find other homes, go to Free MLS Homesearch.
Clicked on a property, but there’s no info? It may be sold. Call me to double-check or discover other similar properties we have for you.
Referring a
friend or someone you care about is the highest compliment you can give me.
Thank you for all of your generous referrals!
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/
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