• Welcome / This Week's Special Offer
• Gary's Real Estate Seminars
• Homebuying Question
• Homeselling Question
• Investing or Financing Question
• Hot Properties: New Listings BEFORE They Hit The Market
• Thank You For Your Referrals

Welcome To The Latest Issue
I just back from a huge national conference of banks, attorneys, and agents who sell their foreclosures and will have some interesting info to report to you in next week’s newsletter…

…ON FIRE! That’s the best description of the San Diego’s entry level real estate market since March 1. Most of my listings under $400,000 are selling quickly OVER full price and with multiple offers.

…Paying too much income tax? In 1941, Franklin Roosevelt bizarrely and unsuccessfully proposed a 99.5% marginal tax rate on incomes over $100,000. Not giving up, in 1942 he issued an executive order taxing income over $25,000 at a nonsensical 100% rate. Congress repealed that, but okayed a still-crazy 90% rate. Gee, wouldn’t you be excited about getting to the office early with the feds taking that much of your paycheck?

Alan Greenspan Quotes He’d Like To Take Back, 4 of 5:
"Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities."
-- May 2005

Top 10 Most Livable U.S. Cities
Places Rated Almanac has come out with their 25th anniversary list of the most livable U.S. cities, based on their ranking in various categories such as cost of living, health care, education, etc. Do you notice a certain city that was glaringly omitted? Take a look:

You cannot be serious: San Diego didn’t make the top 10?! Their study needs some re-thinking…

Join Our Preferred Client Group For The Best Values
I find great real estate deals every week. But too often we cant match a client in time and someone else scoops it up. (My bank-clients wont let me buy their properties, or I'd be my best client!)

So I developed my Private Client Group, a select group of people serious, qualified, and ready to grab a great deal on a home or investment when -- or before -- it hits the market.

If you'd like to be in the Preferred Client Group, you need to:

1. Pre-approve with our approved lender
2. Come in for a short sit-down counseling session
3. Commit to work with us

To join and get the jump on the best real estate values in town, call us at (858)457-KENT or email us at PCG@GaryKent.com.

Check Out Our Foreclosure Hot-List
Looking for a deal? 25+ of my REO (foreclosure) properties have discounts of 10% to a whopping 49% from their previous values. Click on www.Foreclosure-Hotlist.com to check  out my brand-new Foreclosure Hot-List website. We'll update the site regularly, so be sure to bookmark it and return frequently. And forward this link to a friend!

Find Out The Value Of Your Home Or Rental Property FREE — Right Over The Phone
Considering selling? Now you can quickly, easily find out today's value of your home or other San Diego County real estate, right over the phone. Call me and tell me about your home or other real estate. I’ll research recent sales, compare them to yours, and arrive at an honest, realistic price you can expect to get in today’s changing market. For a more accurate figure, just ask me to come by. To receive your free over-the-phone (or in person) evaluation, just call me at (858)457-KENT. Please tell a friend about this offer. Thank you…

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

This Week’s Free Offer:
Five Easy Steps To Selling Your Home
After serving your neighbors 25 years, I know selling your home is a big deal. Many people just aren’t clear how to start. To make it easy for you, here are 5 simple and easy steps to get your questions answered and get on the right track…

1. Call me at (858)457-KENT
We'll chat by phone a few minutes and answer all your questions. Take me for a "telephone test drive" to see if you're comfortable. If not, just tell me “don't call me, I'll call you,” and I won't call you. I promise.

2. Get a free, quick, over-the-phone estimate of your home value
Even if you follow nearby sales, it's hard to know the value of YOUR home, so let's get that handled. (If you want a more accurate figure, just invite me over to see your home.)

3. Get a list of easy, no/low-cost profitable fix-ups for your home
After selling 3,100 homes, I know simple things to increase your home value…that pay you back 2-to-1, 5-to-1, even 10-to-1.

4. Free sit-down consultation & game plan
Get the details on how I sell so many homes for clients. Let’s figure out your timing and a step-by-step game plan for selling and possibly buying another home. Know I'll always “give it to you straight”: no empty promises or flattering you with a high price you won’t get. Good, honest advice.

5. Take the plunge, but with a life-preserver
Perhaps we’ll decide to work together. Signing a listing contract is a big decision, so let's take the pressure off. You'll have the right, in writing, to cancel our agreement for any reason.

If this makes sense and you like my approach, let’s talk… Call me at (858)457-KENT.
I look forward to your call!

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.

TOMORROW:
FREE Seminar @ UTC Mall – May 30th, 2009:
"How To Buy A Foreclosure In San Diego"
Fantasy vs. Reality: Discover the truth about foreclosures/REOs
-- Saturday, May 30th, 10AM-Noon --
Click for Seminar Flyer / Click to Reserve Your Free Seat

Dreamers Need Not Apply.
Sorry This isn't a phony get-rich-quick seminar on buying foreclosures (also called REOs) 50 on the dollar or buying zero down with bad credit and no job. That's NOT reality.

When you attend, you'll discover the truth about:

• NEW: I’ll be just back from the two biggest industry foreclosure conferences w/ the latest insider info!
• NEW: Bailouts, loan “mods”, foreclosure moratoriums...what’s REALLY going on right now w/ REOs?
• How homebuyers can put just 3% down & investors put 10% down on some REOs w/ no PMI or appraisal costs
• Top 10 San Diego neighborhoods with the best REO deals today
• How much banks negotiate off their price
• 5-step plan to getting a great value on a foreclosure in 90 days
• Wise, timely words millionaire Baron Rothschild said in the 1800s
• Traps in the small-print that banks make you sign
• The #1 mistake people make when offering on an REO
• How to get banks to pay EVERY PENNY of your closing costs
• Auction tricks, traps, and pitfalls that I swear will shock you
• Free email access to undervalued & foreclosure properties
• The ugly truth about short salesand it IS ugly
• What to watch out for in an REO
• Much more

"How can you tell a good foreclosure from a bad one?"

Answer:
I’m guessing your question is about the either condition or value. Let me deal with condition first…

"How can you tell a foreclosure is in good vs. bad condition?"

My answer is that you do the same things you would do for any home you’re buying, foreclosure or not:

1. Look closely at the home yourself
2. Hire a qualified professional home inspector
3. If needed, hire other professionals to inspect the structural integrity, soils, roof, pool, electrical, plumbing, heating, etc.
4. Read the disclosures carefully

Keep in mind that bank-owned foreclosures are exempt from most disclosures.

If you’re talking about value, then your question is probably…

"How can you tell if a foreclosure is a good deal or not?"

Again, you would do the same things you would do for any home you buy:

1. Do your own homework to get a feel for values by:

• a) viewing homes for sale
• b) finding out what similar homes have sold for
• c) keeping up with market trends

Good luck.

"I have a pool. With the water shortage will this lower my home value?"

Answer:
Unless things get extreme, I doubt it. I have a pool myself and only need to add water every few weeks, so it doesn’t use excessive water.

"I'm afraid of losing my deposit if I don’t get my loan. Will the 3-day right of rescission protect me?"

Answer:
Bad news. Good news.

Bad News: You have no right of rescission when you buy a home. Such laws do not apply to real estate contracts.

Good News: The standard California CAR contract gives you a financing contingency, typically at least 17 days and often until closing. If you don’t get your loan, you get your deposit returned.

To make sure all goes well, three bits of advice:

1. Use a recommended lender who’ll get the job done (I can recommend one to you).

2. Get your loan started right now. BEFORE you start shopping for a home.

3. Once it looks like your offer will be accepted, push your lender all the way through the process to get your loan approved.

THIS WEEK'S FEATURED PROPERTY!
	Nice & Quiet Scripps Ranch Condo BR/BA: 2/2 Sqft: 1;086 Price: $219,000
– Scripps Ranch – 1 Story, ground end unit w/ private in-unit laundry, fireplace & good size balcony w/ storage and nice view. All appliances including washer/dryer convey! 1 covered parking spot + lots of open parking right outside you front door. Close to pool/spa and mailbox. View Details

Coming Soon
(Click Contact Me to be contacted BEFORE these properties hit the market!)

– Chula Vista – Foreclosure! Spacious home on large 9300sqft lot, 4BR/2BA, 1600 sqft, plus detached room/granny flat! Contact Me
Last sold @ 507K >>> Now 300s?
– Clairemont – Foreclosure! Great starter home or investment on large lot w/ garage. Near 805 & 52 freeways. Contact Me
3BR/1BA, 940 sqft
Recently appraised @ 465K? >>> To be 300K?
– Clairemont – Foreclosure! Features 2-car garage, quiet neighborhood. Walk to Clairemont Square shops, dining, movies. Contact Me
3BR/2BA, 1258 sqft
Last sold @ 520K >>> To be in the 300s?
– Clairemont – Foreclosure! Affordable N. Clairemont home w/ 2-car garage. Quick access to 52 freeway. Contact Me
4BR/2BA, 1176 sqft
Previously appraised @ 441K+ >>> Now $209,900!
– Clairemont – Foreclosure! Fixer-upper 4BR/2BA house needs lots of help. No garage, large lot. Contact Me
4BR/2BA, 1635 sqft
Last appraised @ 489K+ >>> Now low 300s?
– Eastlake Area – Foreclosure! Stunning 10-year-new townhome w/ 2-car garage near Southwestern College. Contact Me
3BR/2.5BA, 1369 sqft
Last sold @ 356K >>> To be low 200s?
– Eastlake Area – Foreclosure! 7-year-new attached home w/ garage, patio, sunset views, and backs to open space. Contact Me
3BR/2.5BA, 1525 sqft
Recently appraised @ 617K >>> To be 200K?
– Eastlake Area – Foreclosure! Sharp 3-year-new townhome w/ 2-car garage, many extras. Contact Me
3BR/2.5BA, 1586 sqft
Last sold @ ? >>> To be low/mid-200s?
New– El Cajon – Foreclosure! Nice home w/ garage, quick freeway access, more info to follow. Contact Me
4BR/2.5BA, 1632sqft
Appraised @ 595K+ >>> To be high 100s?
– Encanto – Foreclosure! Remodeled home w/ city views, 2-car garage, more. Contact Me
3BR/2BA, 1247sqft
Last sold @ 358K >>> To be 200s?
– Encanto – Foreclosure! Four units w/ lots of parking. Near trolley, shopping, schools. Contact Me
Last sold @ 510K >>> Now low 300s?
– La Jolla – Foreclosure! 9-year-new condo near I-5, UCSD, and Sharp Hospital. More info to follow. Contact Me
2BR/2BA, 1102 sqft
Last sold @ $528,500 >>> To be 300s?
– Lakeside – Foreclosure! Dirt-cheap condo ideal for investor or first-time homeowner. Contact Me
2BR/1BA, 728 sqft
Appraised @ 131K+ >>> To be in the 80s?
– Linda Vista – Foreclosure! Affordable home on quiet culdesac w/ 2-car garage. Contact Me
3BR/2BA, 1258 sqft
Last sold @ 450K >>> To be in the 200s
– Logan Heights – Foreclosure! Cute little house w/ 2-car garage, nice yard, newer windows, large patio. Contact Me
3BR/2BA, 1050 sqft
Last sold @ 369K >>> To be in the high 100s?
– Mission Valley – Foreclosure! Affordable 1BR condo in west Mission Valley, 5 minutes to Fashion & Mission Valley malls. Contact Me
1BR/1BA, 700 sqft
Recently appraised @ 175K? >>> To be low 100s?
– Mission Valley – Foreclosure! Great starter condo or investment in "Mission Heights" near Qualcomm & 24 Hr Fitness. Contact Me
1BR/1BA, 667 sqft
Recently appraised @ 174K? >>> To be low 100s?
– Mission Valley – Foreclosure! Cute "Mission Heights" starter condo or investment near Qualcomm & 24 Hr Fitness. Contact Me
1BR/1BA, 667 sqft
Recently appraised @ 174K? >>> To be low 100s?
New – Nestor – Foreclosure! CHEAP 3BR/2BA, 2-story condo. Ideal for first-time buyer or investor. Only $150/mo HOA fee. Contact Me
3BR/2BA, 1222 sqft
Last sold @ $220,000 >>> To be very low 100s?
– Oceanside – Foreclosure! Affordable 4BR home, ideal for 1st time buyer or investor. 2-car garage, large yard. Contact Me
4BR/2BA, 1180 sqft
Last sold @ $280,000 >>> To be high 100s?
– Pacific Beach – Foreclosure! Updated home w/ detached art studio/office, FPL, spa oversize dbl garage, RV parking. Contact Me
5BR/3BA, 2218 sqft
Last sold @ 1.075M >>> To be 800K?
– Rancho Bernardo – Foreclosure! "Provencal" townhome in Carmel Mountain Ranch. 2-car garage, hardwood, granite, more. Contact Me
3BR/2BA, 1322 sqft
Last sold @ $450,000 >>> To be low 300s?
– Rancho Bernardo – Foreclosure! 1989-built single family house w/ dbl garage. South of Camino Del Norte & West of I-15. Contact Me
4BR/2BA, 1760 sqft
Recently appraised @ $602K+ >>> Now 300s?
New – Santee – Foreclosure! Nice home on quiet street w/ pool, 2-car garage. No neighbor behind. Walk to Mission Trails Park. Contact Me
3BR/2BA, 1196 sqft
Recently appraised @ 493K+ >>> Now low 300s?
– Tierrasanta – Foreclosure! Sharp townhome in great neighborhood. Offers 2-car garage, balcony. Walk to canyons. Contact Me
2BR/2.5BA, 1068 sqft
Last sold @ 430K >>> To be mid $200s?
– University City – Foreclosure! Cute condo in “Verano” in the La Jolla Colony area. Quick access to I-5, La Jolla, UCSD, etc. Contact Me
1BR/1BA, 704 sqft
Recently appraised @ 310K >>> To be very low 200s?

NEWLY LISTED (Your Property Here!)

Corner 3-year-new “Park Blvd East” condo near Petco Park w/ no common walls, views, granite.

2 Bed, 2 Bath 980 Sqft Price: $340,000 Recently appraised @ 486K+

Handsome 1990-built 1-level detached condo w/ 2-car garage. Feels just like a house.

3 Bed, 2 Bath 1,298Sqft Price: $174,900 Last sold @ 387K

Handsome, 70’s built house on huge 9500 sqft lot. Nice street.

4 Bed, 2 Bath 1,582 Sqft Price: $239,800! Last sold @ $467,500

Cute condo, fully renovated 5 years ago. Quiet complex near UTC mall.

1 Bed, 1 Bath 597 Sqft Price: $179,900 Recently appraised @ 334K

MORE GREAT HOMES & INVESTMENTS (Your Home Here!)

Huge home on 1.31 acres w/ barn, + 2 additional buildings. 2 kitchens, ideal for 2 families.

4 Bed, 2 Bath 3,601 Sqft Price: $299,900 Last Sold @ 456K

Exquisite 5-yr-new home w/ travertine, granite, huge family room, 3-car garage, on .24 acres.

5 Bed, 4.5 Bath 3,473 Sqft Price: $545,000! Recently appraised @ 900K+

Luxurious 4612 sqft "Tuscan Masterpiece" built on 2006 on .42 acres overlooking Tecolote Canyon. Immense bkyd.

5 Bed, 5.5 Bath 4,612 Sqft Price: $997,500!

Sunny & bright "Blossom Walk" condo w/ large balcony, granite, upgrades. Near parking.

1 Bed, 1 Bath 581 Sqft Price: $126,900 Last sold @ 273K

Newer model-like house w/ designer décor, granite, rich dark wood cabinets, more. Short sale.

3 Bed, 2.5 Bath 1,651 Sqft Price: $275,000 to $285,000 Last Sold @ $408,500

2 Detached homes on .58 acres w/ 2 double garages. Ideal for extended family or ???

Home1: 4BR/4BA Home2: 2BR/1BA Price: $349,900 Last Sold @ $600,000

Very roomy end-unit "Villa Espanas" condo w/ FPL and quick access to 15 and 78 freeways.

2 Bed, 1.5 Bath 1,152 Sqft Price: $92,900 Last sold @ 325K

Spacious house on large 6800 sqft lot. Quick freeway access.

4 Bed, 3 Bath 1,749 Sqft Price: $219,900 Last sold @ 325K

Upgraded home on 5.9 acres in gated, private, peaceful De Luz community.

3 Bed, 2.5 Bath 1,970 sqft Price: $290,000 appraised @ apx 655K

Charming older house on .24 acre lot. Needs some TLC.

3 Bed, 2 Bath apx 1,500 sqft Price: $149,900 Last sold @ 230K

Beautiful newer condo near UCSD & Sharp Hospital.

2 Bed, 2 Bath 1,102 Sqft Price: $386,900 Last sold @ 583K

Spacious single family home on .28 acre lot with 2-car garage.

3 Bed, 1 Bath 1,719 sqft Price: $315,900! Appraised at ???

Cozy 4BR house ideal as starter or investment. Offers brick FPL, large lot, spacious yard.

4 Bed, 1 Bath 968 sqft Price: $148,900 Last sold for 352K

Three bedroom house on huge 17,100 sqft lot. East of 805, south of E. Plaza.

3 Bed, 1 Bath 1,170sqft Price: $160,000! Appraised @ 378K+

Sharp 6-year-new home w/ open views in quiet neighborhood. Large backyard.

4 Bed, 3 Bath 2,190 Sqft Price: $330,000! Last sold @ 489K

Enormous house on 9200 sqft lot. Ideal for very large family.

6 Bed, 3 Bath 2,203 Sqft Price: $472,500 Prev appraised @ 504K+

Eclectic "Flamingo House" in Pacifica: bonus room w/ bay view, big private bkyd, pool, spa, 3 FPL, more.

3 Bed, 2.5 Bath 2,290 sqft Price: $900,000!

Vintage 3BR/2BA house on large 6969 sqft lot. More info to follow.

3 Bed, 2 Bath 1,544 sqft Price: $199,900 Appraised @ 425K+

Affordable, updated “Riderwood Gardens” condo w/ garage.

3 Bed, 2 Bath 1,144 sqft Price: $149,900 Appraised @ ???

Stunning 12-year-old home w/ 3-car garage, large yard, 1BR/1BA downstairs.

4 Bed, 3 Bath 2,432 Sqft Price: $629,900! Recently appraised at ???

Split level home w/ pool, mountain & Sweetwater Reservoir views, large living room w/ FPL.

4 Bed, 2.5 Bath 2,272 Sqft Price: $299,900! Last sold @ 600K

Convenient bottom-floor unit near I-8 and La Mesa. Granite countertops.

3 Bed, 2 Bath 1,112 sqft Price: $127,900 Appraised @ 325K+

3.3 acres! Gorgeous house w/ 2-car garage & panoramic views.

3 Bed, 2 Bath 1,761 sqft Price: $304,000 Last sold @ $595,000

Private ranch home on 20,000 sqft lot w/ panoramic mountain/hill views, fruit trees, eat-in kitchen.

3 Bed, 2 Bath 1,464 Sqft Price: $269,900 Last sold @ 425K

Newer high-quality view home on 2.09 acres. Offers pool, 3-car garage, huge yard, orange groves.

4 Bed, 3 Bath 2,602 sqft Price: $529,000!

Giant .7 acre lot w/ cute house built in 1940. Incredible potential. Needs lots of TLC.

2 Bed, 1 Bath 898 sqft Price: $187,300! Last sold @ $472,500

Due to production and shipping expense, free items are available only to residents, owners, and people planning to purchase real estate in San Diego.

This free e-newsletter tells you how to be more successful with your real estate transactions. You receive it because you subscribed, entered your email address at my site(s), or were referred. By reading it, you agree you: 1) understand this is opinion & not advice; 2) will seek professional tax, legal, and real estate advice; 3) are solely responsible for use of content, 4) hold Gary Kent, Gary Kent Homes & Estates, Kent & Associates Inc., and RE/MAX Associates harmless. Questions may be paraphrased for clarity/brevity. Disregard this email if you have a listing or buyer-broker agreement.

Copyright 2009 Gary Kent, All Rights Reserved.