Issue #254
In This Issue
Welcome / This Week's Special Offer
Welcome To The Latest Issue
Hello again. Check out the new look in
Hot Properties with
photos of our listings? Click on the photo for more info. …Still seats available
for our free seminar 3/31: “How
To Buy A Home In San Diego - 2007.” Call 858-457-KENT to reserve your
seat. And bring a friend! …Still looking for an energetic “buyer agent” to help
people find their dream home. We provide training and pay most expenses. Call
(858)535-7435.
Foreclosure Assistant
Needed…ASAP!
Fast-paced full-time job w/ lots of variety. Learn the world of foreclosures.
$10-$12/hr + bonus. Job includes:
- No selling / no license needed
- Driving the county checking on properties & taking photos
- Detailed data entry
- Determining approx value of properties (will train)
You must be dependable, team player, able to meet deadlines, able to multi-task.
Interested? Email Kevin@GaryKent.com.
U.S. Cities
Ranked: Top 10 Biggest Price Gainers 2005-2006
Top U.S. metropolitan areas by % change in 4th-quarter median prices 2005 to
2006:
1. 25.9% Atlantic City, NJ
2. 22.7% Salt Lake City, UT
3. 18.9% Trenton-Ewing, NJ
4. 15.1% Beaumont-Port Arthur, TX
5. 14.9% Salem, OR
6. 14.5% Raleigh-Cary, NC
7. 14.4% Cumberland, MD
8. 14.0% Farmington, NM
9. 12.7% Baton Rouge, LA
10. 12.2% Spoken, WA
(Source: Wall Street Journal)
Next week: Bottom 10 biggest price losers…
You Know You’re In San
Diego When…
…No matter the weather, there’s always someone walking around in a t-shirt,
shorts, and flip flops~
(Got one of your own?
Email it to me.)
Too Many Real Estate
Agents In California?
California has more agents than the combined population of Carlsbad, Coronado,
Del Mar, Encinitas, Imperial Beach, La Mesa, La Jolla, Lemon Grove, National
City, Poway, Santee, and Solana Beach! In 10 years, the number of licensees
almost doubled, to a whopping 521,000. One in 70 Californians has a license.
True Story: A Little Too
Helpful
In 2004, I offered on a 56-unit apartment complex in Phoenix. When I flew out
for my initial look, the owner was there and proudly told me how he was on call
24/7, constantly fixing the property. In other words, he’d just bragged to me
how terribly high-maintenance his property was! After a quick walk-through of
the rough property, I promptly cancelled escrow.
This Week’s Free
Offer:
10 Hours Of Free Handyman Repairs
List your home or rental with me in the next 30 days and I’ll pay for my
handyman to do 10 hours of free repairs, painting, hauling… whatever you need.
Must mention this offer prior to listing. To take me up on this offer, call me
at (858)457-KENT.
Still Looking For An
Energetic “Buyer Agent”…
…to help people find their dream home. We provide training and pay most
expenses. Call (858)535-7435.
Ever Frustrated Because
You Can’t Reach A Live Human?…
…at a business or website? Go to
http://gethuman.com/us/ for secrets to escaping voicemail purgatory and
reaching a live voice at hundreds of business and websites. Courtesy of one of
my star team members, Gloria.
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.
FREE MLS Online Search For A San Diego or Riverside Home
To search for a home right now, click here: Free MLS Homesearch
FREE SEMINAR March 31 / Saturday 10AM-Noon
At "Forum Hall" at the UTC Mall in University City
How To Buy A Home In San Diego – 2007!
…Never bought a home, or just a little rusty?
…Curious to learn so you can confidently make your own choices and look out for
yourself?
…Excited about all the opportunity and great values in today’s buyer’s market?
Then come hear three experts share the inside scoop to buying a home today.
You’ll learn from yours truly plus our home loan expert and a home professional
home inspector.
You'll Discover:
- San Diego real estate forecast—2007 & Beyond:
"Soft Landing" or "Bursting Bubble"?
- What home inspectors Do & don’t inspect. You may be surprised!
- Get pre-qualified FREE, on the spot + get your credit report free
- Why media reports about real estate are so often DEAD WRONG
- Step-by-step plan to buy your dream home in the next 90 days
- Find out your price range, payments, & needed down payment
- How our software got my computer guy a home under market
- 9 ways to make your offer more attractive & beat other offers
- How to avoid buying a home that's a MONEY PIT of problems
- The 3 best loan programs + dangerous mortgages to avoid
- Free email access to under-valued & foreclosure properties
- 7 smart insider tips, whether this is your 1st or 10th home
- Exactly what I would do if I was buying a home today
- Get sellers to pay EVERY PENNY of your closing costs
- 6 ways to profit and plunder in today’s market
- Avoid these 5 homebuying blunders!
- The 80/20 rule for buying a home
To RESERVE YOUR SEAT NOW for this free presentation, click here or call (858)457-KENT!
"Hi Gary. My wife and I are very
interested in a home we just saw. I was told the seller wants to rent the house
back for 30 days. If we make an offer, what rent should we expect them to pay?"
***ANSWER:
Rentbacks are usually requested by the seller, as is your case. So the generally
accepted practice is the seller pays the greater of the market rent or your
total loan payment (principle, interest, taxes, insurance, + any homeowner
fees).
However, in the unlikely event that it’s the buyer who wants the seller to rent
back, such as if the buyer needs an unusually quick escrow and the seller needs
some time to get out, the approach would be different.
The rent would be between the market rent and whatever the owner is paying now.
I’ve seen things get sticky with long-time owners, often senior citizens, who
have no mortgage and a low tax base and pay as little as $100 per month. Asking
them to pay $3,000/month rent isn’t going to fly. So expect to get minimal rent
in return for them closing early.
"Hi Gary. We’re trying to choose an agent to
sell our home in UTC. One of them suggested a higher price, but I’ve never heard
of his company. The other is with XXXX [a large firm], so he’s probably pretty
good. Who do you think we should go with?”
***ANSWER (Part 3 of 3):
From last week: 10 smart questions to ask an agent before you list your home
with them, followed by the answer you want to hear:
1. How many years have you been a full-time agent?
[5 years+]
2. Do you also do mortgage loans or manage property?
[No. An agent can’t do those AND sell real estate properly]
3. How many homes did you sell last year?
[25+]
4. How many in your career?
[100+]
5. Do you have a team?
[Yes. Gone are the days when a solo agent can do it all]
6. How many buyer-agents are on your team?
[2+]
7. Have you ever read the purchase contract WORD-FOR-WORD?
[Yes. Agents must know the contract to advise you correctly]
8. What are the hidden traps in the contract & how will you protect me?
[NOTE: Call me and I’ll tell you the answer]
9. What is my recourse if I’m not happy with your service?
[They should offer you a right to cancel; otherwise you’re stuck]
10. What are the benefits to working with your real estate firm?
[Long answer—see below]
#10 is a trick question. If the agent tries to sell you on his or her firm, RUN!
Why? You’re hiring an agent (and team?), not a firm. Firm has almost nothing to
do with selling your home. So either:
1) they don’t even know that OR
2) they’re willing to mislead you to win your business
Do you really want to work with an agent like that? I didn’t think so.
So there you have it, the criteria for choosing an agent to sell your home or
investment property. Of course, you could save a lot of your valuable time and
energy, and just call me to sell it for you. My number is 858-457-KENT.
Investing or Financing Question
"Gary, can you
answer a question about loans and points? On the home we’re buying, we’re trying
to decide if it’s worth paying points on our loan. We’re kind of lost. How do
you figure that out?"
***ANSWER:
Whether you pay points primarily depends on how long you plan to keep the loan.
(Other factors: having $$ available to pay points or needing a lower payment to
qualify or fit your budget.)
Here’s a rough rule of thumb to determine if you should pay points:
Divide the total $ amount of the loan points by the monthly savings on your
mortgage payment if you paid points. For example, let’s assume:
- Your mortgage is $500,000
- Your 30-year fixed-rate loan choices are:
…6% w/ 2 points
…6.75% w/ 0 points
With 6.75% / 0 points, your monthly loan payment is $3243.
With 6% / 2 points, it’s $2998.
Here’s the formula:
Cost of points / Monthly mortgage savings = # months to break-even
So let’s figure it out…
Cost of points:
2 points = 2% of $500,000 = $10,000
Monthly mortgage savings:
$3243-$2998 = $245/month savings if points paid
$10,000 / $245 = 41
That means your break-even point is 41 months.
In other words, if you hold your mortgage less than 41 months, you lost money by
paying points. If you hold it more than 41 months, you made money.
So…
If you think you’ll keep your loan for less than 41 months, take the higher rate
and don’t pay points.
Hope that helps.
NOTE to my mathematician, CPA, and economist friends: Yes, you noticed I ignored
the “time value of money” as well as any tax impact. This is a simple analysis
and I’d rather avoid the brain damage of trying to factor everything in...
Hot Properties: Call Now On These Hot New
Listings & Not-Yet-On-The-Market Properties
|
THIS WEEK'S FEATURED PROPERTY! | |
 |
Beautiful Home In BR/BA:
4/2 Sqft:1,913 Price:$569,900 Poway
Unified School District |
|
For more information on this Delightful Home Click Here | |
"COMING SOON"
(Click
Contact Me to be contacted BEFORE these properties hit the market!)
- Bay Park – Gorgeously fully remodeled 5BR/3BA view home on quiet street in
great neighborhood. Dbl garage. $800s.
Contact Me
- Chula Vista – Bank Owned Foreclosure! Cute
remodeled 3BR house w/ white picket fence. $300s?
Contact Me
- Chula Vista – Bank Owned Foreclosure! Newer 3BR, 2.5BA, 1452sqft townhome w/ garage. $300s? Contact Me
- Clairemont – Bank-Owned Foreclosure! 4BR/3BA 1614 sqft home in quiet neighborhood. Lo $400s? Contact Me
- Clairemont – Bank Owned
Foreclosure! 3BR house w/ garage. Quiet street. More info to follow.
Lo $400s.
Contact Me
- Downtown –
Bank Owned Foreclosure! 1BR/1.5BA ground-floor condo with direct street entrance.Price
TBD
Contact Me
- Downtown – Bank Owned Foreclosure! 2-year-new 2BR/1BA high-rise condo in Acqua Vista. Price TBD Contact Me
- El Cajon – Bank-Owned Foreclosure! 4BR/2BA house on large 11,300sqft lot w/ pool & garage. Price TBD. Contact Me
- La Jolla – Stunning remodeled home w/ spectacular canyon views, family room, pool, more. Price TBD. Contact Me
- La Jolla – Highly upgraded ocean vu home w/ granite, hardwood, marble, new roof, new windows, new MBA. 2M+? Contact Me
- La Mesa – Bank Owned Foreclosure! Remodeled 5BR/3BA 2537sqft view home on .41 acres. $500s? Contact Me
- Mira Mesa – Bank Owned Foreclosure! 4BR/2.5BA 1804sqft house w/ spa. Should be low $500’s. Contact Me
- National City – Bank-Owned Foreclosure! Vintage Victorian home built 1864! 4BR/3BA, 1852sqft: $400s? Contact Me
- Nestor – Bank Owned Foreclosure!
Stunning 4-yr-new 4BR/3BA 2422sqft house near park. Price TBD.
Contact Me
- Nestor – Bank Owned Foreclosure! 3BR/2BA
house: family room, dbl garage, tile throughout. Mid-$400s?
Contact Me
- North Park – Upgraded 2BR/2BA townhome w/ garage, hardwood floors, large bedrooms. Very high $300’s? Contact Me
- North Park – Bank Owned Foreclosure! Charming 2BR Spanish house, hardwood floors, garage. Low $300’s? Contact Me
- Oak Park – Bank Owned Foreclosure! Cute, upgraded 2BR cottage w/ garage & large yard $300’s? Contact Me
NEW - Oceanside – Bank-Owned Foreclosure! 3-yr-new, 3BR/2BA, 2069sqft house on culdesac. Price TBD. Contact Me
- Oceanside – Bank-Owned Foreclosure! Cheap 1BR condo in “Arbor Hill”. Recent conv w/ granite, etc. Hi $100’s!? Contact Me
- Oceanside – Bank Owned
Foreclosure! 4BR/2BA home w/ 2-car garage. Very low $400’s?
Contact Me
- Oceanside – Bank Owned Foreclosure!
Stunning 9-yr-new 4BR home w/ sweeping views. Low $500’s?
Contact Me
- Oceanside – Bank Owned Foreclosure!
Handsome 3BR/2.5BA detached home w/ dbl garage. Low $400’s?
Contact Me
NEW - Paradise Hills – Bank-Owned Foreclosure! 3BR/2BA 1373sqft condo w/ 2-car garage. Price TBD Contact Me
- Pt Loma – Bank Owned Foreclosure! Cute 2BR, 1227sqft house w/ garage, 6500sqft lot. High $600’s? Contact Me
- Ramona – Bank-Owned Foreclosure! 2181sqft 3BR house on 6 full acres of horse property. $700s? Contact Me
- Rancho Penasquitos – Bank Owned
Foreclosure! 4BR/2.5BA house. More details to follow. $600ish?
Contact Me
- Scripps Ranch – Bank Owned Foreclosure!
Stunning newer 4BR 2536sf home, many upgrades. $700?
Contact Me
- Scripps Ranch – Bank-Owned Foreclosure! Sharp 4-yr-new 3BR/2.5BA condo w/ yard, patio, dbl garage. Hi $400s. Contact Me
NEW – Spring Valley –
Bank-Owned Foreclosure! 3BR/2BA house: big
yard, mtn views, dbl garage. $400s?
Contact Me
NEWLY LISTED (Your Property Here!)
 |
- Pt Loma- Bank Owned Foreclosure! Very affordable 2BR house on quiet street. Should be in the $500’s. Access More Information |
MORE GREAT HOMES & INVESTMENTS (Your Home Here!)
 |
- Allied Gardens – Bank Owned Foreclosure! BR house w/ remod kitchen, dbl garage, quiet street near Kaiser. $425,900 Free MLS Search |
 |
- Chula Vista – Bank Owned Foreclosure! 8yr-new Rancho Del Rey townhome w/ dbl garage, gated community. $416,900! See For Your Self |
 |
- Clairemont – Bank Owned Foreclosure! Updated & upgraded 3BR/2BA house w/ garage. Priced for quick sale @ $454,900! Take A Look |
 |
- Clairemont – Bank Owned Foreclosure! West Clairemont 2BR townhome w/ garage, large living room, patio. Reduced: $265,900 Pictures |
 |
- Downtown – Bank Owned Foreclosure! 2BR 2nd-floor condo in historical & famous CORTEZ HILL. $519,900. See The View |
 |
- Encanto – Upgraded 3BR/1.5BA home with oversize grassy backyard & double garage. Priced for quick sale at 369-400K View Details |
 |
- 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 Jolla – Bank Owned Foreclosure! Upgraded, spacious 3BR/2BA 1-story house on culdesac in “Windemere.” $959,900! More Information |
 |
- La Jolla – Bank Owned Foreclosure! Remod 3BR/2BA penthouse ocean vu condo 2 blks to beach. Hdwd flrs. $569,900! Contact Me |
 |
- La Mesa – Bank Owned Foreclosure! 3BR house on quiet street with big yard. $2500 closing cost credit. $376,900. More Information |
 |
- Logan Heights – Bank-Owned Foreclosure! 2800sqft HEAVY fixer-upper house w/ garage, curb appeal, big lot. $510,000 View Pictures and Features |
 |
- Mira Mesa – Bank Owned Foreclosure! 2BR/2BA condo, 913 sqft, lovely complex near I-15. Priced attractively @ $249,900. Property Features |
 |
- Mission Valley – Short Sale! Oversize 2BR/2BA condo near USD, YMCA. Security parking for 2 cars. $333,550. Find Out More |
 |
- Mission Valley – CHEAP 1BR end-unit condo w/ golf course vu in gated community! Ideal starter investment or 1st home. 185K! See For Yourself |
 |
- Mission Valley – Bank Owned Foreclosure! 11BR condo, 604 sqft, tennis, pools, near Qualcomm. $216,900! Contact Me |
 |
- Nestor – Bank Owned Foreclosure! 3BR/2BA, 1224 sqft condo w/ large patio, near pool & playground. Just 305K! More Info |
 |
- Oceanside – Bank-Owned Foreclosure! Affordable 2BR/1.5BA 1280 sqft condo w/ garage (rare @ this price!). $249,900 Property Information |
 |
- Oceanside – Newer 3BR/2BA home in Williams Ranch w/ private yard. Near new middle school and community park. 420-450K! Contact Me |
 |
- Oceanside – Bank-Owned Foreclosure! Newer 4BR/2.5BA house w/ huge yard, panoramic views, great area. $579,900 Pictures |
 |
- Pacific Beach / Crown Pt– Bank Owned Foreclosure! Remodeled 2BR/2BA w/ bay/city views. Walk to bay! $434.900. Free Info On the Home |
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- Paradise Hills – Bank Owned Foreclosure! 3BR/2BA 1183sqft condo w/ large covered patio. $314,900. Check It Out |
 |
- Rancho Bernardo – Bank Owned Foreclosure! 4BR/2BA 1913 sqft house on culdesac. New paint/carpet/granite. $579,900! See What Its Like |
 |
- San Marcos / San Elijo Hills – Stunning, sunny & open 4/2.5 home w/ bonus room. Built 2004 w/ all the upgrades. 612K. See For Yourself |
 |
- San Marcos – Bank Owned Foreclosure! Stunning near-new 3BR/3BA, 2259sqft view house, gated community. $564,900. Find Out More |
 |
- Tierrasanta – Bank Owned Foreclosure! 4BR/2.5BA 2592 sqft fixer house on quiet street. Bargain at $634,900! Free Info About the Home |
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.
Thank you Ken &
Lori for all your kind referrals…
Thank you Carol & Trish for referring a friend to buy a home…
Thank you Chris C. for referring a client to me…
Thank you Kevin H. for referring your roommate to invest…
Have a great week...
"The Agent You See EVERYWHERE"
All-Time #1 Agent/Team In San Diego County for RE/MAX
22 Years Experience -- 3,100+ 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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