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Welcome To The Latest Issue
Just back from a huge and respected industry foreclosure conference. The consensus is the Obama mortgage plan will do little to help San Diego. It targets people owing 105% or less of their home value. But too many in San Diego owe well over 105%. So expect more foreclosures in San Diego County after a 3-month lull.

…Remember "The Pursuit of Happyness" with Will Smith, based on the life of Chris Gardener? At the conference, Gardener spoke and shared that in real life, his son wasn’t 7 years old like in the movie--he was 14 months. Hard to imagine what that must have been like. By the way, that little boy is now 28 years old, 6'8", and 300 lbs!

…The Dow Jones Industrial Average close on 12/31/64 at 874.12. Exactly 17 years later on 12/31/81 it closed at 875.00.

…While around 94% of home loans nationwide are current, only 52% of subprime ARMs are current.

True Story: Second In Line & Easy To Reach
Love her or hate her, Speaker of the House Nancy Pelosi is next in line to the presidency if Obama and Biden were unable to serve. Years ago I received an offer on my clients' apartment building, but couldn’t reach them. So I tried their son, an intern in the U.S. House of Representatives. Not having his number, I called all over Washington, bouncing from voicemail to voicemail...and eventually ended up in then-Speaker of the House Dennis Hastert's personal voicemail! (Scary thought: 5th in line to the presidency is deer-in-the-headlights Treasury Secretary Timothy Geithner.)

Alan Greenspan Quotes He’d Like To Take Back, 5 of 5:
"Indeed, recent research within the Federal Reserve suggests that many homeowners might have saved tens of thousands of dollars had they held adjustable-rate mortgages rather than fixed-rate mortgages during the past decade, though this would not have been the case, of course, had interest rates trended sharply upward." -- February 2004 (While this may have been true, it encouraged more people to get adjustable mortgages, many of them risky. …We all know how that turned out.)

Top 10 Most Dangerous U.S. Cities
Just my opinion, but I don’t suggest moving to these cities any time soon:

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…

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!

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.

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

"Hi Gary. We're looking to buy our first home, but we're hesitant to start working with an agent because we don't know how their fees work. Do I pay the agent that helps me find a home?"

Answer:
Great question! I hear that a lot from our clients like you who’ve never bought a home before.

In California and most states, the seller virtually always pays the agents.

"I can’t make my house payment and am trying to decide if I want to do a short sale or just let it be foreclosed on. Can you tell me about short sales?"

Answer:
I’m very experienced in short sales, having done about 200 of them.

QUALIFYING:
It’s the oppposite of applying for a loan. For the bank to approve you, you must:

- Show your bank(s) you can’t afford to pay your mortgage
- Have a “hardship” or reason out of your control that makes you unable to pay your mortgage
- Very little in the bank or retirement accounts
- Little or no equity in other real estate

COST:
You typically have zero out-of-pocket cost. While you are "charged" all the normal seller expenses, the bank in effect pays them because they are deducted from the check they receive at closing. You as the seller are not allowed to receive any funds at the closing.

CREDIT DAMAGE:
A short sale is far better for your credit than a foreclosure.

TAXES:
In some cases, both a short sale and a foreclosure may result in some taxable income for your “forgiven debt.” The good news is under a recent law you are often exempt from federal taxes. Check with your CPA.

PROCESS:
In a nutshell, you accept an offer from a buyer subject to the bank’s approval. Then we negotiate with the bank to approve your financial situation and the amount of their loss. It’s similar – but opposite – to applying for a loan. We need to convince the bank you are NOT qualified and the home is NOT worth as much as they want to be. This process is slow and can take 2-9 months, depending on the bank and the agent’s experience.

Any agent can try to do this, but you want someone who knows what they’re doing.

If you owe too much on your home and need to sell your home, call me at (858)457-KENT and I’ll be happy to tell you if you qualify for a short sale.

"What do you think of buying cash, then getting a loan later?"

Answer:
In the current lending environment, you’d likely be restricted to 60% "LTV" or "Loan-To-Value" because it’s a cash-out refinance. In other words, you’ll only be able to borrow 60% of the property’s value.

THIS WEEK'S FEATURED PROPERTY!
	Stunning & Sharp Eastlake Townhome BR/BA: 3/2.5 Sqft: 1,586 Price: $250,000
– Eastlake Area – Foreclosure! Stunning townhome with open floor plan! Offers living room with "wood" flooring and FPL, private MBR on top floor, sparkling pool and spa. Well maintained unit, ready to move in. Contact Me

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?
New– Clairemont – Foreclosure! Cute 3BR house in rapidly upgrading neighborhood near Bay Park. Large 7000 sqft lot. Contact Me
3BR/1BA, 1168 sqft
Recently appraised @ 500K? >>> To be 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! 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?
New– Eastlake Area – Foreclosure! Stunning 3-year new single family home 2 blocks to new Otay Ranch Town Center. Contact Me
4BR/3BA, 2342 sqft
Last sold @ 625K >>> To be 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?
– 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?
– 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?
New– Mira Mesa – Foreclosure! Spacious top-floor condo in quiet complex w/ pool. Near movies, shopping, restaurants. Contact Me
2BR/2BA, 912 sqft
Last sold @ 289K >>> To be mid 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?
– 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?
New – Ramona – Foreclosure! Pleasing home on quiet street w/ view deck and bonus 600 sqft of patio & exercise rooms. Contact Me
3BR/2BA, 1824 sqft
Last sold @ 465K >>> To be 300K?
– 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?
– 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?
– Scripps Ranch – Foreclosure! Spacious condo w/ 2-car garage near pool. Great neighborhood & schools. Contact Me
2BR/2.5BA, 1216sqft
Recently appraised @ 363K+ >>> To be 300K?
– 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!)

Features 2-car garage, quiet neighborhood. Walk to Clairemont Square shops, dining, movies.

3 Bed, 2 Bath 1,258 Sqft Price: $370,000! Last sold @ 520K

Sharp 3-year-new townhome w/ 2-car garage, many extras.

3 Bed, 2.5 Bath 1,586 Sqft Price: $250,000! Last sold @ ???

7-yr-new attached home: garage, patio, sunset views, backs to open space.

3 Bed, 2.5 Bath 1,525 Sqft Price: $230,900 Recently appraised @ 617K

9-year-new condo near I-5, UCSD, and Sharp Hospital. Quick freeway access. Great complex.

2 Bed, 2 Bath 1,102 Sqft Price: $379,900 Last sold @ $528,500

Newer condo near UCSD & Sharp Hospital. Beautiful complex. Must be cash only.

2 Bed, 2 Bath 1,102 Sqft Price: $386,800 Last sold @ 583K

Sharp 1-story, ground floor end unit w/ in-unit laundry, FPL, and dual MBR. Quiet complex.

2 Bed, 2 Bath 1,086 Sqft Price: $219,000

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: $274,900 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

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+

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

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

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

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: $154,900! Appraised @ 378K+

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+

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 ???

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

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

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.