• 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
…Reserve your seat for my free seminar tomorrow Saturday, May 30, 10AM to noon at UTC. It’s “It’s How To Buy A Foreclosure in San Diego.” Invite a friend. Seats are almost gone, so hurry!

…Follow me on Twitter or become a Facebook fan. I now have 46 Twitter followers and 20 Facebook fans.

…Why sell them houses when you can knock them down?

…Two of my agents recently wrote offers on a home listed for $175,000. It ended up attracting over ONE HUNDRED OFFERS and closed for $340,000!

…How’d you like a free appraisal and physical inspection when you buy your next home or investment? Check out "This Week’s Special Offer."

True Story: Multiple Bidders In Europe Too
We’re seeing multiple offers on most San Diego homes listed under $400,000. My mother-in-law just listed her condo in Sundsvall, Sweden for 680,000 Swedish kronor ($91,500). Within days she had multiple bidders and sold for 750,000 Swedish kronor ($101,000).

Top 10 U.S. Beaches For 2009
Courtesy of Gina in my office, here for your summer vacation planning is the list of 2009’s top 10 beaches from “Dr. Beach” Stephen P. Leatherman, director of Florida International University's Laboratory for Coastal Research. He has compiled the list annually since 1991 using 50 criteria, including water quality, water temperature, cleanliness, weather, sand, safety, and facilities:

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 Special Offer:
FREE $450 Home Appraisal & FREE $300 Home Inspection
For a limited time, you’ll receive $750 in free services when you agree to use us as your Realtor to buy a home or investment in San Diego, get a mortgage from one of our preferred lenders, and use any professional home inspector. For more details or to take advantage of this offer, call us @ (858)457-KENT.

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 and tell me about your property. I’ll research the market and arrive at an honest, realistic price you can expect to get in today’s market. Need a more accurate figure? Ask me to come by. For your free over-the-phone or in person evaluation, just call me at (858)457-KENT. Please tell a friend…

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

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

"Can you give me some info about the new federal homebuyer tax credit?"

Answer:
Happy to. There is a federal tax credit, as well as a state tax credit for buying new construction. Click here for a PDF for info on each.

In addition, this info on the federal tax credit comes from Realtor.org:

Who Qualifies?
First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?
The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Will the Credit Be?
The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:
The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.
The buyer's income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit. The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.

Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.

"I have a million-dollar rental house that’s leased through next May. If I sell, it would have to be ‘show with offer’. What do you think?"

Answer:
Selling subject to a lease and "show with offer" will limit the market dramatically. So you'd either want to work with the tenant to change that situation (if possible) or wait and roll the dice and hope prices are holding or higher come May 2010.

"How important are FICO scores when you get a loan?"

Answer:
Vital.

They can be the difference between getting a loan or not, how much you need to put down, and the rate and points you pay.

My longtime lender recently priced an owner-occupied conventional loan for someone with 20% down. Based on the FICO score the person stated, the rate was a spectacular 4.5% with 1 point.

But when he ran his credit, it was below 680. That jacked up the rate to 5.875% and 2.5 points. Ouch.

Bottom line, pay your bills on time and keep your credit up or you’ll really pay when you get a mortgage.

THIS WEEK'S FEATURED PROPERTY!
	Beautiful & Peaceful Home In Del Mar Open House: Sat/Sun 1-4pm BR/BA: 2/2.5 Sqft: 1,983 Price: $999,000 - $1,299,000 Address: 13625 Mira Montana Dr, 92014
– Del Mar – Rare find in Del Mar, first time on market! Peaceful, tranquil & breezy home within walking distance to Torrey Pines Reserve. Double-lot, possible investor opportunity, split lot! Offers award-winning Del Mar School Districts, sunroom w/ ocean views plus large deck! View Info

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

– Chula Vista – Foreclosure! Enjoy southerly views, designer pool/spa, & more from this spacious 2-story home. Contact Me
4BR/2.5BA, 2394 sqft
Last sold @ 665K >>> To be 400s?
– 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 – Friendly home on quiet street offers family room, gas/wood FPL, newer carpet and exterior paint, more. Contact Me
3BR/2BA, 1566 sqft
Value range $360,000 to $400,000!
– 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 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?
– Encanto – Foreclosure! Light & bright 1-story w/ FPL, bay window, 2-car garage, large 1/4-acre lot. Built 1980. Contact Me
4BR/2BA, 1438 sqft
Recently appraised @ 325K? >>> To be 200K?
– 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?
– Logan Heights – Foreclosure! 2003-built home on full lot. Offers bright & open kitchen, large bkyd, RV parking. Contact Me
3BR/1BA, 902 sqft
Last sold @ 307K >>> 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?
– 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?
New– Pacific Beach – Foreclosure! Beach house w/ private backyard, California room, 2-car garage. Contact Me
2BR/2BA, 1400 sqft
Last sold @ 700K >>> To be high 500s?
– 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?
– San Marcos – Foreclosure! 5-year-new townhome w/ 2-car garage in “Rancho Coronado” gated community near CSUSM. Contact Me
3BR/2.5BA, 1458 sqft
Last sold @ $441,500 >>> To be mid 200s?
– San Marcos / San Elijo – Foreclosure! 3-yr-new “Old Creek Ranch” home w/ spacious floorplan, view, great family area! Contact Me
4BR/3.5BA, 3090 sqft
Last sold @ $740,500 >>> To be mid-500s?
– San Marcos – Foreclosure! Affordable "Lake Park Villas" townhome. Near Restaurant Row & multiplex. Contact Me
2BR/1.5BA, 957 sqft
Last sold @ $221,500 >>> To be very low 100s?

NEWLY LISTED (Your Property Here!)

"Palisades" home near Bay Ho. Offers new carpet & paint, nice yard, sunny bonus California room, dbl garage.

3 Bed, 2.5 Bath 1,876 Sqft Price: $490,000 to $540,000

Mid-century 1-level home w/ back-country views, 10 minutes to I-5, 3 acres, great street.

5 Bed, 4.5 Bath 3,375 Sqft Price: 1.69M-1.89M Last sold @ 269K

Beautiful Craftsman w/ refinished hardwood floors, new paint, crown molding, bay windows, huge family room.

3 Bed, 2 Bath 2,007 Sqft Price: $625,000

MORE GREAT HOMES & INVESTMENTS (Your Home Here!)

Enjoy desert peace and quiet from this cute house. Ideal home or weekend retreat

3 Bed, 2 Bath 1,380 Sqft Price: $119,900! Last sold @ 269K

Mint, just-remodeled canyon view townhome in quiet “FoxRun”. 2-car garage, high-ceilings, FPL, backyard.

3 Bed, 2.5 Bath 1,562 Sqft Price: $490,000-$530,000

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

Great starter home or investment on large lot w/ garage. Near 805 & 52 freeways.

3 Bed, 1 Bath 940 Sqft Price: $302,900 Recently appraised @ 465K?

Enjoy panoramic views from this cared-for 1-story home. Upscale neighborhood of high end custom homes.

2 Bed, 2.5 Bath 1,983 Sqft Price: $999,000 to $1,299,000

Gorgeous “Hard Rock” condo-hotel suite in the Gaslamp Quarter. “Rock Royalty” service & full hotel amenities.

1 Bed, 1 Bath 459 Sqft Price: $489,000! Last sold @ 589K

Great 4-yr-nu townhome w/ 2-car garage, ocean vu, balcony, in-unit laundry.

3 Bed, 3 Bath 1,336 Sqft Price: $187,900! Last sold @ 395K

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

3 Bed, 2.5 Bath 1,586 Sqft Price: $214,900! Last sold @ ???

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

4 Bed, 2.5 Bath 1,632 Sqft Price: $227,900 Appraised @ 595K+

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

2 Bed, 2 Bath 1,102 Sqft Price: $360,900 Last sold @ $528,500

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

3 Bed, 2 Bath 1,258 Sqft Price: $275,000 Last sold @ 450K

Great starter condo or investment in “Mission Heights” near Qualcomm & 24 Hr Fitness.

1 Bed, 1 Bath 667 Sqft Price: $114,900 Recently appraised @ 174K

Cute "Mission Heights" starter condo or investment near Qualcomm & 24 Hr Fitness.

1 Bed, 1 Bath 667 Sqft Price: $114,900 Recently appraised @ 174K

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

6 Bed, 3 Bath 2,203 Sqft Price: $450,000 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: $850,000 to $900,000!

Pleasing home on quiet street w/ view deck and bonus 600 sqft of patio & exercise rooms.

3 Bed, 2 Bath 1,824 Sqft Price: $309,900 Last sold @ 465K

Nice home on quiet street w/ pool, 2-car garage. No neighbor behind. Walk to Mission Trails Park.

3 Bed, 2 Bath 1,196 Sqft Price: $275,000 Recently appraised @ 493K+

Short Sale: Fantastic newer "Paloma Del Sol" home on a quiet culdesac. Beautifully landscaped backyard.

3 Bed, 2.5 Bath 1,508 Sqft Price: $225,000

Cute condo in “Verano” in the La Jolla Colony area. Quick access to I-5, La Jolla, UCSD, etc.

1 Bed, 1 Bath 704 Sqft Price: $177,800 Recently appraised @ 310K

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

Spacious manufactured home in Warner Springs Estates.

3 Bed, 2 Bath 2,037 Sqft Price: $148,400 Last sold @ 430K

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.