Issue #270
In This Issue
Welcome / This Week's Special Offer
Welcome To The Latest Issue
Happy 27th birthday tomorrow to the Chargers’ LaDanian Tomlinson. …Know
someone who’d like my newsletter? Have them email
TellAFriend@GaryKent.com
with their email address in the subject line. And email your questions,
comments, compliments, corrections, critiques, & rebuttals to
Questions@GaryKent.com.
True Story: Take What The
Judge Gives You
My client’s home was in escrow, but he began to act irrational and refused
to close. The buyer’s threatened legal action, but eventually gave up and we all
parted ways. Months later, I was served to appear in small claims. Shockingly,
my client was suing ME for his lost sale, though HE was at fault. The judge had
him state his case. He proceeded to spin a disjointed, nonsensical yarn that
made it clear I had no fault. As he ended, I was confident the judge would
swiftly dismiss the case. However, trying to make sense of his testimony, she
slowly restated, rearranged, and reshaped his incoherent words into something
that actually made a weak case against me. I began to sweat as my confidence
melted. As the judge ended, she asked him, “…Is THAT what happened?” His
response to this gift from the judge: “No, your honor, it wasn’t like that at
all!” She immediately dismissed the case. …Believe it or not, months later the
client called and asked if I’d try to sell his home again! I thanked him and
declined.
FREE MLS Online Search For A San Diego or Riverside Home
To search for a home right now, click here:
Free MLS Homesearch
U.S. Cities Ranked: Top 10
Most Expensive U.S. Cities To Live In
With cost of living index, according to InfoPlease.com:
1. 212.1 - New York, NY
2. 177.0 - San Francisco, CA
3. 169.2 - Honolulu, HI
4. 153.1 - Los Angeles, CA
5. 141.0 - San Diego, CA
6. 137.8 - Washington, DC
7. 136.8 - Boston, MA
8. 131.6 - Juneau, AL
9. 128.6 - Chicago, IL
10. 119.0 - Philadelphia, PA
…I’ll pay the extra 9.4% to live here over Juneau!
Next week: Top 10 most affordable U.S. cities to live in.
You Know You’re In San
Diego When…
…Everyone is complaining about the horrible spring weather—otherwise known
as “scattered clouds” ~
(Got one of your own?
Email it to me.)
This Week’s Free Offer:
I’ll Finance Your Home Repairs For
Free
Considering selling your home or other real estate? Is it a bit of a
“fixer-upper” and you’d like to do some work but you’re in a cashflow crunch?
Call me at (858)457-KENT and I’ll be happy to discuss possibly loaning you the
money until the home sells. I look forward to talking with you.
None currently scheduled. Please check back.
"Hi Gary. My wife and I looked at
a house that was perfect for us, but the family room didn’t have a city permit.
What’s the risk of not having a permit?"
***ANSWER:
Four factors determine how concerned you should be about un-permitted work:
1. Significance
2. Workmanship & Code Compliance
3. Effect on resale
4. Possible future requirement to permit or remove
1. Significance
If we’re talking about an un-permitted patio cover or professionally done
kitchen remodel, I wouldn’t sweat it. Few people pull permits for them. But a
family room addition or extensive electrical work is more significant and cause
for concern.
2. Workmanship & Code Compliance
Like any home you buy, hire a professional home inspector. Ask him or her to
look extra hard at un-permitted additions. Many are built fine, but others are
weekend projects by unskilled homeowners. If well-built but not code-compliant,
you could still face problems in #4 below.
3. Effect on Resale
If you know about it, you must disclose un-permitted work when you sell. There’s
no guideline, but my rough rule of thumb is: if it’s well-built, an un-permitted
room is worth 50% of a permitted room. Obviously, that means it should have a
likewise impact on what you’ll pay right now.
4. Possible Future Requirement to Permit or Remove
The city rarely hears about un-permitted additions unless a neighbor complains
or a city inspector notices it (typically that happens when checking other work
you ARE permitting). Once aware, they’ll make you remove or permit the work.
Permitting means you’ll pay penalties (I know YOU didn’t build it, but the city
doesn’t care) and bring it up to current code, which could be easy or costly.
…After reading what I just wrote, you could accuse me of being a bit (?) wordy,
so let me simplify:
When buying…
1. Don’t sweat minor un-permitted items (provided #2 is OK)
2. Decrease your offer by appx 50% of the added value of an un-permitted room
3. Have it inspected. If poorly built, ask the seller to credit you the cost of
bringing it up to standard
"Hi Gary. Thanks for your help,
but we’re going to use an agent who said she’d guarantee to sell our home or
she’d buy it herself…”
***ANSWER:
Hold on! I’ll match her offer!
Why?
I mean, who wouldn’t jump at the chance to buy your home…at 10 to 20% under
market value. Oh, she forgot to mention that?
That’s right. The basic approach with any “I’ll buy your home if I can’t sell
it” is that it has to be WAY under market value for the agent or company to buy
it.
There are also variations…
Some agents promise to pay a price that you’d both later “mutually agree” on.
WOW, you could drive a Hummer through that loophole! If you don’t “mutually
agree” on a price, then POOF, the guarantee disappears. And the only price
they’d “mutually agree” to is 10-20% below market value.
Or maybe the price sounds reasonable, but on top of the real estate fee, they
also charge a monster fee of 5% to 10% or more.
Or the only way they’ll give you any guarantee is if you list at a price so low
that your home will sell in a minute. And if you don’t want to underprice your
home, they have an answer: “Oh, you’d like to ask a higher price? No problem.
But of course we don’t offer the guarantee. Please sign here.”
Bottom line is:
There’s no free lunch. Guaranteed home sale strategies are, at best, misleading.
At worst, they’re total scams.
Watch out!
Investing or Financing Question
"I purchased a
home 4 years ago with the assistance of your agency. In early/mid 2008, my 5
year fixed loan rolls to an adjustable rate. Currently, my APR is 4.875%, in
'08, it will go to 6.875%. I am watching interest rates skyrocket every
day...the best I could find today is 7% with a 0 points loan. My question...do I
"jump" now and refinance, or hold out a few more months and take the risk?”
***ANSWER:
I'm receiving a lot of calls and emails like yours right now.
Fortunately, you don't have one of those "exploding ARMS". With those, often
without being told (though it was buried in a 1-inch-thick set of loan papers),
the rate jumps up 20-50% in just one to three years.
Personally, I'd refi now, probably into that fixed rate. But I would talk with a
good lender to find out if you have better options, such as another 5-year fixed
at an attractive rate. (Call me at 858-457-KENT and I can recommend a good
lender to you.)
The big question for you is: would you be OK financially if you waited until
next year and the rate was higher? If not, then definitely refi now. And if
rates drop enough down the line, you can always refi again.
Hope that helps...
Hot Properties: Call Now On These Hot New
Listings & Not-Yet-On-The-Market Properties
|
THIS WEEK'S FEATURED PROPERTY! | |
 |
Classy "Marina District" Downtown
Condo
BR/BA:
2/1.5 Sqft:
1,273 Price:
$495,000 |
|
For more information on this Delightful Home Click Here | |
"COMING SOON"
(Click
Contact Me to be contacted BEFORE these properties hit the market!)
New – Cardiff – Foreclosure!
“Park Place” 2BR, 1-level condo w/ many upgrades, including granite kitchen. Low
300s
Contact Me
– Carmel Valley – Foreclosure! Spacious 3BR/3BA “twin home” w/ large yard on quiet street. Price TBD Contact Me
– Chula Vista – Foreclosure! Hilltop area: Handsome 3BR/2BA house on oversize 7400sqft lot. Low 400s? Contact Me
– Chula Vista – Foreclosure! Cute “Eastlake” 2BR/2BA home, a short walk to manmade lake, park, etc. Contact Me
– Chula Vista – Foreclosure! Gorgeous upgraded 3BR/2BA townhome right next to “tot park.” 300K? Contact Me
- Chula Vista – Foreclosure! Cute remodeled 3BR house w/ white picket fence. $300s? Contact Me
- Clairemont – Foreclosure! Walk to Clairemont Towne Square movies/shops. 3BR/2BA house. Lo/mid 400s? Contact Me
- Clairemont –
Foreclosure! Upgraded 2BR/1.5BA 1097sqft
townhome w/ unusual 3-car garage. Lo 300s?
Contact Me
- Clairemont –
Foreclosure! “Foxrun” 3BR/2.5BA 1806sqft house w/ 2-car garage, FPL,
high ceilings. Price TBD.
Contact Me
- Clairemont – Foreclosure! 3BR house w/ garage. Quiet street. More info to follow. Lo $400s. Contact Me
- College Area – Foreclosure! Gorgeous 1-yr-new 2BR/2BA condo conv. Gated complex. Lo/Mid $200s. Contact Me
- College Area –
Foreclosure! Top-floor 2BR condo: FPL, laundry
in unit, large balcony, low HOA fees. Lo $200s.
Contact Me
- Downtown –
Foreclosure! Tenth-floor 1BR condo
in Acqua Vista. Very low 300s..
Contact Me
- Downtown – Foreclosure! 1BR/1.5BA ground-floor condo with direct street entrance.Price TBD Contact Me
– Downtown – Foreclosure! Luxury 2BR/2BA 1684sqft vu condo in “The Grande.” Lo800s? Contact Me
– East San Diego – Foreclosure! 2BR condo w/ garage! High $100s?? Contact Me
– East San Diego – Foreclosure! 2BR condo in gated community w/ security guard, pool. Low $200s Contact Me
– East San Diego – Foreclosure! Redone 3BR/2BA condo w/ granite, some ocean vu! Hi 200s? Contact Me
– El Cajon – Foreclosure! Spacious 2297sqft 4BR home on 1/2 acre w/ pool, cov’d patio, many extras. Price TBD. Contact Me
– El Cajon – Foreclosure! 2 Units on .56 acres: 3BR house + 1BR cottage. Low 500s? Contact Me
– Encanto – Foreclosure! Stunning, just remodeled 4BR/2.5BA, 1656 sqft home on large lot: just 400K? Contact Me
– Escondido – Foreclosure! Remodeled 3BR/2BA end-unit condo w/ gas FPL. Price TBD. Contact Me
– Imperial Beach – Foreclosure! 2BR/1.5BA townhome in tropical setting. 2 minutes to beach. Price TBD Contact Me
– La Mesa – Foreclosure! 1572sqft 3BR/2BA home on almost 1/4 acre. Panoramic views! Mid 400s? Contact Me
- La Jolla – Foreclosure! 3BR/2BA Mediterranean w/ eat-in kitchen, dbl garage, 1,000sqft patio, FPL. Price TBD. Contact Me
- La Mesa – Bank Owned Foreclosure! Remodeled 5BR/3BA 2537sqft view home on .41 acres. $500s? Contact Me
– Lemon Grove – Foreclosure! Huge 2674 sqft home on oversize 8,900 sqft lot, spacious MBR suite. Price TBD Contact Me
– Lemon Grove – Foreclosure! Newly converted 1008sqft 3BR/2BA condo in attractive complex! Contact Me
- Linda Vista – Foreclosure! Very affordable 1BR condo, apx 618sqft. 160s? Contact Me
New– Logan Heights – Foreclosure! 3BR/2BA home, probably in the low/mid 300’s. Contact Me
– Mira Mesa – Foreclosure! Gorgeous 2-yr-new 2BR/2BA condo conv: granite, travertine, maple. Hi $200s. Contact Me
– Mira Mesa –
Foreclosure! 3BR/2BA house w/ 2-car garage on
6,000 sqft lot. Mid-400s?
Contact Me
– Mission Valley –
Foreclosure! 2-year-new “Escala” 2BR 1611sqft townhome,
DBL garage. 600K?
Contact Me
- Nestor – Foreclosure! 5-year-new “Robinhood Ridge” 4BR/2.5BA house w/ beautiful views. Low 500s. Contact Me
– Normal Heights – Foreclosure! 2-yr-new 3BR/3.5BA 1765sqft condo w/ dbl garage. Hi 500s? Contact Me
– North Park – Foreclosure! 3-Units: 3BR/1BA + two 1BR/1BA. Apx 42K/yr gross income. High 500s? Contact Me
- Oak Park – Foreclosure! Cute, upgraded 2BR cottage w/ garage & large yard
$300’s?
Contact Me
- Oceanside – Foreclosure!
Handsome 3BR/2.5BA detached home w/ dbl garage. Low $400’s?
Contact Me
- Oceanside – Foreclosure! Stunning 2-yr-new 3210sqft home w/ spectacular views! Price TBD. Contact Me
- Pacific Beach – Handsome, woodsy custom house 5 blks to beach. Pool, gourmet kitchen, luxurious MBA. Price TBD Contact Me
- Pt Loma – Foreclosure! Cute 2BR, 1227sqft house w/ garage, 6500sqft lot. High $600’s? Contact Me
- Ramona – Foreclosure! 2181sqft 3BR house on 6 full acres of horse property. $700s? Contact Me
– San Carlos – Foreclosure! 5BR/3.5BA, 2300sqft home w/ fam room, solar pool. Hi $500s? Contact Me
– San Carlos – Foreclosure! Walk to Mission Trails Park from this 2BR, 806sqft condo. Low 200s. Contact Me
– San Ysidro –
Foreclosure! 3BR 1323 sqft townhouse w/ 2-car
garage. Low 300s?
Contact Me
- Scripps Ranch – Mint La Merida
3-4BR/2.5BA “model home” w/ travertine &
cherrywood floors! Low 700s.
Contact Me
– Spring Valley –
Foreclosure! Upgraded 3BR/2BA home w/ 2-car garage, a/c, large lot,
lovely yard. Low 400s.
Contact Me
– Spring Valley –
Foreclosure! Enjoy spectacular views of Sweetwater Reservoir from
this 2BR condo. Low 200s.
Contact Me
- Spring Valley – Foreclosure! 3BR/2BA home on large lot. 2-car garage. 300s? Contact Me
– Spring Valley –
Foreclosure! Ultimate fixer upper 3BR/2BA house w/ dbl garage. Great
vu. Price TBD.
Contact Me
– Spring Valley –
Foreclosure! 4BR/2BA Rancho San Diego culdesac home w/ canyon & lake
views! 400s?
Contact Me
- Temecula –
Foreclosure!
3BR/2BA house on corner lot. More info to follow. 300s?
Contact Me
- Vista – Foreclosure! Cute 2BR cottage w/ white picket fence, 2-car garage,
big yard. 400-ish?
Contact Me
NEWLY LISTED (Your Property Here!)
|
Too New For Photo |
– Carmel Valley – Foreclosure! Spacious 3BR/3BA “twin home” w/ large yard on quiet street. New carpet, paint, etc. $599,900 Contact Me |
 |
New – University City – Foreclosure! Sharp 2BR/2BA condo in gated security “Lucera” complex w/ garage, granite. $365,900 Contact Me |
MORE GREAT HOMES & INVESTMENTS (Your Home Here!)
 |
– Chula Vista – Foreclosure! Stunning 3-year-new 4BR/2.5BA Mediterranean home w/ mountain views: $664,900! Take A Look |
 |
– Chula Vista – Foreclosure! 4BR, 2019sqft house on culdesac w/ pool, many upgrades! Reduced 28K to $531,000 Check It Out |
 |
- Chula Vista – Foreclosure! Newer 3BR, 2.5BA, 1452sqft townhome w/ garage. Reduced again to $369,900. More Info |
 |
Reduced - Chula Vista – Foreclosure! 8yr-new Rancho Del Rey townhome w/ dbl garage, gated community. $392,500! Take A Look |
 |
– Chula Vista – Foreclosure! 2-yr-new 4BR/3BA, 2335 sqft Eastlake Trails house, 3-car garage. Cut 50K $599,900 Find The Answers To Your Questions |
 |
– City Heights – Foreclosure! You can own this affordable 2BR condo in “Harbor Vista” for only $174,900! Property Features |
 |
Sold – Clairemont – Tranquil 4BR house w/ spectacular canyon/valley views, on a quiet culdesac: 550-600K Find Others Like It |
 |
– Clairemont/BayHo – Stunning, fully remodeled condo. Brand new kitchen, bath, carpet, paint, flooring, etc. 165-185K Check It Out |
 |
- Clairemont – Foreclosure! 4BR/3BA 1614 sqft home in Kearney Mesa near shopping & freeways. $459,900 Take A Look |
 |
- Downtown – Spectacular “City Walk” 2BR/1.5BA condo. Offers loft-style BR, granite, travertine, upgrades: 495-545K! See For Yourself |
 |
- Downtown – Foreclosure! Newer 1BR/1.5BA ground-flr condo in TREO in Little Italy. Direct street entrance. $424,900! More Info |
 |
- Downtown – Foreclosure! 2BR 2nd-floor condo in historical & famous CORTEZ HILL. Reduced to $495,000 Check It Out |
 |
- Downtown – Foreclosure! 2-year-new 2BR/1BA high-rise condo w/ views in hip “Acqua Vista”. Reduced again: Reduced Again: $505,900. See The View |
 |
– East San Diego – Foreclosure! Cute, upgraded 2BR house w/ garage and huge backyard. Reduced to: $354,900 View Details |
 |
- El Cajon – Foreclosure! 4BR/2BA house on oversize 11,300sqft lot w/ pool, garage, big yard. $479,900. See For Yourself |
 |
- Encanto – Foreclosure! 1-year-new 3BR/2.5BA 1628sqft house, dbl garage, large lot, some views. $476,500. Take A Look |
|
|
Reduced – Escondido – Foreclosure! 5BR/3BA house on large corner lot, 2-car garage, newer paint. $427,900 Take A Look |
 |
– Escondido – Foreclosure! Cute 2BR house on full 6200 sqft lot w/ big eat-in kitchen and oversize backyard. $343,900. Check It Out |
 |
– Fallbrook – Foreclosure! Amazing 2-year-new 3704sqft view estate on 5.28 acres! 6-car garage! $1.195M See For Yourself |
 |
- La Jolla – Foreclosure! Stunning 3BR home 1.5 blocks to the beach. Private ocean view deck. Bargain at $1,094,900! Check It Out |
 |
- La Jolla – Foreclosure! Spectacular 2yr-new never-lived-in 5541sqft 6BR custom mansion w/ sweeping views. Now $2,598,900! Beautiful Pictures |
 |
- Lakeside – Foreclosure! Cheap, cheap, cheap 1BR condo in nice complex. Just $126,250! See For Yourself |
 |
– Linda Vista – Foreclosure! 1646sqft 3BR house. Remod kitchen: granite, cherry cabinets. $454,900! More Info |
 |
- Logan Heights – Foreclosure! 2800sqft HEAVY fixer-upper house w/ garage, curb appeal, big lot. Slashed 160k $349,888 View Pictures and Features |
 |
- Mira Mesa – Foreclosure! 4BR/2.5BA 1804sqft house w/ spa. Reduced to $529,900. Find Others Like It |
 |
– Mira Mesa – Handsome “Mesa Ridge” house w/ red tile roof. Scripps Ranch High School district. 445-475K More Info |
|
|
- National City –
Foreclosure! Vintage Victorian home
built 1864! 4BR/3BA, 1852sqft. Just $418,900!
Contact Me |
 |
- Nestor – Foreclosure! 3BR/2BA house: family room, dbl garage, tile throughout. Reduced to $434,900. Find Others Like It |
 |
- Nestor – Foreclosure! 3BR/2BA, 1224 sqft condo w/ large patio, near pool & playground. Reduced: 295K! Free MLS Search |
 |
- North Park – Foreclosure! Charming 2BR Spanish house, hardwood floors, garage. Reduced to $417,500. This Could Be Your Home |
 |
- Oceanside – Foreclosure! 2BR/1.5BA 1280 sqft condo w/ garage (rare @ this price!). Reduced $237,900 Property Information |
 |
- Oceanside – Foreclosure! Immaculate 3-yr-new 3BR/2BA + xtra room, 2069sqft house on culdesac. Reduced: $507,900 Property Info |
 |
- Oceanside – Sunny & bright 4BR/2.5BA home w/ sweeping views & large bkyd. Reduced again: $499,900 This Could Be Your Home |
|
|
- Oceanside – Foreclosure! 3BR/2.5BA “Emerald Point” detached home on culdesac w/ 2-car garage. Now $419,900! Check It Out |
 |
- Pacific Beach – Dramatic rebuild by owner/designer. Offers turret entry, ocean views, hardwood flrs, more. 1.25-1.35M! More Information |
 |
– Paradise Hills – Foreclosure! 3BR house w/ spectacular bay & city views, bonus room, 2-car garage. $428,000 Take A Look |
 |
– Paradise Hills – Foreclosure! 3BR/2.5BA townhome w/ nice patio. Priced under market @ $269,900! Free MLS Search |
 |
- Paradise Hills – Foreclosure! 3BR/2BA 1183sqft condo w/ large covered patio. Price Cut: $296,900! Check It Out |
 |
- Paradise Hills – Foreclosure! Sharp 3BR/2BA 1373sqft condo w/ 2-car garage. Just $359,900. See For Yourself |
 |
- Ramona – Foreclosure! Spacious 3077sqft home on a full acre! Vintage home, built 1938. 2-car garage. $509,900! See For Yourself |
 |
- Rancho Bernardo – Smart 2BR/2.5BA, 1458sqft townhome w/ garage, central a/c, golf course view! 345-405K Contact Me |
 |
– Rancho Bernardo – Foreclosure! Newer beautiful 3BR/2BA manufactured home. Live in RB for $374,900! Contact Me |
 |
- Rancho Penasquitos – Foreclosure! 4BR/2.5BA house on corner lot in desirable
neighborhood. Reduced to575K See For Yourself |
 |
– Rancho Penasquitos –
Foreclosure! 4BR/2.5BA
home w/ family room, 2-car garage, quiet culdesac. $563,000 Find Others Like It |
 |
- Scripps Ranch – Foreclosure! Stunning newer 4BR 2536sf home on quiet street, many upgrades. Reduced: $783,900! Find Other Homes |
 |
– Spring Valley – Foreclosure! 2BR, 1088 sqft townhome. Large kitchen & only 1 common wall! $224,900 Property Features |
| Too New For Photo |
– Spring Valley – Foreclosure! Enjoy spectacular mtn & nitelite views! 3BR/2BA home on quiet culdesac. $419,900 Contact Me |
 |
- Spring Valley – Foreclosure! Sunny 2BR top-floor end-unit condo, big deck, laundry in unit, spacious livg room. $249,900! See For Yourself |
 |
– Spring Valley – Foreclosure! Handsome 3BR/2BA, 1466sqft house on large 8276sqft corner lot. Bargain @ $383,900 View Details |
 |
– Tierrasanta – Foreclosure! Beautiful 3-story townhome w/ large 2-car garage. 5 minutes to 52 & 15 freeways. Now $379,900! More Information |
 |
Reduced – University City – Foreclosure! Sharp 2BR/2BA condo in gated security “Lucera” complex w/ garage, granite. $354,900 See For Yourself |
 |
- Vista – Foreclosure! Half-acre lot! And you’ll love the upgraded 3BR/2BA, 1711sqft home w/ 2-car garage. $469,900 More Info |
 |
– Vista – Foreclosure! 3 cute 1BR units, well-located in downtown Vista near shopping, etc. Just $509,900. View Pictures and Features |
 |
- Vista – Foreclosure! 4BR culdesac home w/ gleaming hardwood flrs + oversize backyard. Drastically reduced to$444,400 Check It Out |
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
Gary Kent Team --- RE/MAX Associates
(858)457-KENT --- (858)457-5368
GaryK@GaryKent.com -- http://www.garykent.com/
If a friend would enjoy this enewsletter, forward it to them. To subscribe, email Subscribe@GaryKent.com with "subscribe" in the subject line.
Due to production and shipping expense, free items are available only to residents, owners, and people planning to purchase real estate in San Diego.
