• 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
…Went to the "San Diego 09 Economic Forecast Conference" last week featuring noted economists Christopher Thornberg and Gary London. Both were bullish on San Diego’s residential real estate market. Some quotes:

• - Thornberg: "Unlike Nevada, Arizona, and Florida, California has a true pent up demand for housing…It’s a great time to buy with a 6-year hold."
• - London: "The best game in town is buying (residential) rental property."

…Have you reserved your seats yet for my free seminar coming Saturday May 30th, "How To Buy A Foreclosure In San Diego"? Feel free to invite a friend.

…Video Link: Everyone’s talking about foreclosures. Did you know there are 3 stages to a foreclosure? You can buy in any stage, but one is usually best. Check out this video from my seminar to find out which one.

…Banks foreclose to recoup some of the money they’ve loaned. But for some inexpensive or “troubled” homes, the combined cost of employee’s time, repairs, city fines, and sales costs exceed the net from a sale. So what is a bank to do? Incredibly, sometimes
nothing -- just walk away from homes they’ve loaned on. And some are doing just that. Read more.

True Story: Gets Kind Of Lonely
At the foreclosure conference I attended earlier this month, two Florida agents shared with me that there are some 40-story high-rise condo buildings with as few as 3 or 4 occupied units. Yikes!

Top 10 U.S. Cities At Risk For Further Price Declines
Many American real estate markets may be at risk of even worse declines. These 10 cities have the highest % of nonprime mortgages that are especially susceptible to defaults as joblessness rates continue to rise:

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:
FREE Guide: "How To Buy A Home In San Diego"
Knowledge + Action = Power. So expand your knowledge, take some action, & order this free guide. Updated for 2009. You'll discover:

- What you need to know about buying an REO or short sale
- Step-by-step, how to find the right home & best loan
- Determining how much home you can afford
- Why you may NOT be pre-approved even if you think you are
- Key tips on buying foreclosures
- If a real estate agent does this, RUN!
- An easy strategy to persuade owners to sell you their home for $1,000s less
- 5 things you MUST ask your lender before you sign anything
- 6 smart house-hunting tips
- 7 questions to ask BEFORE you make your offer
- Other homebuying secrets that may surprise you!

Call (800)748-1340 to have this sent to you FREE via mail. Call 24 hours / 7 days a week; free recorded message. It should arrive at your home within 72 hours.

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

"I’ve seen some properties say ‘corporate owned’. Does that mean it’s a foreclosure?"

Answer:
Usually.

It typically means it’s a foreclosure, or occasionally if a relocation company has bought someone’s home to facilitate their job transfer or new job.

Some banks don’t like us to use “foreclosure” when marketing their properties, but most of those banks are OK with "corporate owned."

"Hi Gary. We just bought a new construction home in San Marcos. We’re moving soon and can’t decide if we should sell or rent our home in North Park. It’s worth $575,000 and we owe $319,000 with a monthly payment of $1900. It’ll rent for $2,000 per month, so we’ll have a small positive cash flow. Rent or sell - what do you suggest?"

Answer:
First, let’s clear up a common mistake. Many people compare loan payment to rent to determine cashflow. This forgets details like vacancy, tenants who don’t pay rent (it happens), management, repairs & maintenance, property taxes, insurance, HOA fees, etc. Expenses typically run 20-40% of rent.

So with $2000 in rent and $1900 in mortgage PLUS EXPENSES, expect a negative cashflow.

Next, ask yourself these questions:

1. Do I ever plan to move back to the house?
2. Do I have any children who I think will have the desire and income to own the home within the next few years?
3. If I didn’t already own the home, would I buy it because I thought it was a great investment opportunity?

If you answered YES to any of these, perhaps you should keep the home.

If you answered NO to all 3, sell and put the money elsewhere, perhaps into apartments for greater cashflow. Otherwise, you’ll have some $250,000 in "dead equity" providing minimal return for you.

And remember, IRS Section 121 lets you receive tax-free gain of up to $500,000 (couples) or $250,000 (individuals) when you sell your principal residence.

"Question-- What is best way to get my credit score--I have not checked in 20 years."

Answer:
Here’s how my favorite lender answers that question:

"You can go to www.annualcreditreport.com and get a free credit report from each bureau once a year, but the credit scores are not accurate unless it asks what type of credit someone is applying for. It will give them an idea of what their score is, but I probably need to run credit if an accurate score is necessary."

If you’re considering buy a home and want to find out your accurate credit score for free, call my office and we’ll put you in touch with my lender. Call 858-457-KENT.

THIS WEEK'S FEATURED PROPERTY!
	Affordable Clairemont Home BR/BA: 4/2 Sqft: 1,176 Price: $295,900
– Clairemont – Foreclosure! Affordable single-level Clairemont family home! Offers 4BA/2BA w/ large living room, tile flooring, good size backyard plus enclosed patio. Close to convenient shopping and dining. Needs your TLC. View Info

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! 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! 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 – Del Mar – Enjoy panoramic views from this cared-for 1-story home. Upscale neighborhood of high end custom homes. Contact Me
2BR/2.5BA, 1783 sqft
Value Range $999,000 to $1,299,000
– 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?
– 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?
– 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– Oceanside – Foreclosure! Remodeled 1987-built home w/ granite counters, FPL, spacious bkyd. Nice neighborhood. Contact Me
3BR/2BA, 1205 sqft
Last sold @ 505K >>> To be low 200s?
– 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?
– 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!)

Affordable N. Clairemont home w/ 2-car garage. Quick access to 52 freeway.

4 Bed, 2 Bath 1,176 Sqft Price: $295,900 Previously appraised @ 441K+

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

Nice home w/ garage, quick freeway access, more info to follow.

4 Bed, 2.5 Bath 1,632 Sqft Price: $249,900 Appraised @ 595K+

Affordable home on quiet culdesac w/ 2-car garage.

3 Bed, 2 Bath 1,258 Sqft Price: $250,000 Last sold @ 450K

Spacious top-floor condo in quiet complex w/ pool. Near movies, shopping, dining.

2 Bed, 2 Bath 912 Sqft Price: $165,000 Last sold @ 289K

CHEAP 3BR/2BA, 2-story condo. Ideal for first-time buyer or investor. Only $150/mo HOA fee.

3 Bed, 2 Bath 1,222 Sqft Price: $110K Last sold @ $220,000

Tranquil mountain retreat w/ panoramic views on 2.73 acres! Single-level w/ FPL, built 2005.

3 Bed, 2 Bath 1,972 Sqft Price: $334,900 Last sold @ 575K

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

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: Value Range $895,000 to $995,000!

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

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

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

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: $260,000 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

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

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+

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

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

4 Bed, 3 Bath 2,432 Sqft Price: $589,000! 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.