• 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
Announcing a brand new seminar Saturday September 26, 10AM-Noon at the UTC mall: “How To Short Sale Your Home or Rental”. You’ll learn:

- Why banks do short sales
- The short sale process & how to dramatically speed it up
- How to qualify – Do YOU qualify?
- How a short sale effects your credit
- A tax expert will explain the tax impact of a short sale vs. foreclosure.
- Why some loans are easier to short sale than others
- Will it cost you any money?
- Do you need to be behind on your payments?
- Will they stop your foreclosure?
- NOTE: This seminar is NOT about buying a short sale.
- Can your lender go after you for their loss?
- If yes, WILL they lender go after you for their loss?

To register for my new short sale seminar, click here, call me at (858)457-KENT, or email me at ShortSale@GaryKent.com.

…BTW, do you need to short sale your San Diego home or rental? List with me and I guarantee to produce an offer in 7 days. Call me 858-457-KENT.

…Note that I’ve moved my last “How To Buy A Foreclosure In San Diego” seminar of the year to Saturday, October 24th, 10AM to noon.

…HELP WANTED NOW: Full time job opening for someone to work in my REO/foreclosure department. For more info, Click Here.

…Not sure if I’d rather be Paris Hilton’s dog or contractor. She just paid $325,000 for what appears to be a 10’x10’ 2-story doghouse. (Yes, I AM embarrassed to be writing about Paris Hilton.)

…Looks like something futuristic from the next James Bond movie. It’s not real estate, but I bet you could live here if you had to.

True Story: That’s The Thanks He Got?
In 2005 I bought 12 apartments in Phoenix needing renovation. My property manager recommended a contractor. Over time, I grew unhappy with the contractor’s charges, which seemed inflated. So I had my manager tell the contractor I wanted “the local owner price and not the stupid California investor price”. His charges dropped 20% immediately. Did I thank him? Heck no. That just confirmed he’d overcharged me for months. So I fired him.

Top 10 U.S. Cities Where It’s Hardest To Get By
These struggling metros have a combination of high unemployment, steep cost of living and low median income:

1. Providence, RI
2. Los Angeles, CA
3. Riverside, CA
4. Tampa, FL
5. Buffalo, NY
6. Portland, OR
7. Orlando, FL
8. Detriot, MI
9. Miami, FL
10. Louisville, KY
13. Las Vegas, NV
18. San Diego, CA ***
Click here for more info…

Quick Real Estate Tip #2
Seller beware! Oldest trick in the book: agent tells you a high price to get a listing, then tells you to reduce later. Don’t be fooled!

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…

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: Pricing Your Home For Top Dollar
Discover the truth about how to price your home right and get top dollar with this FREE GUIDE: "Pricing Your Home For Top Dollar".
It covers:
- Avoiding the 13 dangerous pricing myths
- The #1 mistake owners make when pricing a home
- "Value range pricing" explained…and when YOU should use it
- The dirty little pricing trick many agents pull & how to avoid it
- Secrets to pricing your home so you get more money in less time

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.

NEW SEMINAR!
FREE Seminar @ UTC Mall – Saturday, September 26, 2009:
“How To Short Sale Your Home Or Rental”
Fantasy vs. Reality: Discover the truth about foreclosures/REOs
-- Saturday September 26th, 10AM-Noon --
See Above For More Info / Click to Reserve Your Free Seat
Flyer & more info to follow next week

NOTE THE NEW DATE!
FREE Seminar @ UTC Mall – Saturday, October 24, 2009:
"How To Buy A Foreclosure In San Diego"
Fantasy vs. Reality: Discover the truth about foreclosures/REOs
-- Saturday, October 24th, 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 sales and it IS ugly
• What to watch out for in an REO
• Much more

"Hi Gary. We currently own a condo and are upside down. Lenders have told us we do not qualify for two mortgages. How do you feel about lease to own as an option? And are the only legitimate lease to own's found in the MLS? Thank you so much!"

Answer:
If you can find one, lease-to-own (lease-option) can be a good option.

But…

Very few people want to offer a lease-option, so they are extremely hard to find. I wouldn’t plan on it. I don’t know of any other source for lease-to-own other than the MLS. You can try Craigslist.com, but I doubt that will have many.

If you do find a lease-option, know that they are a bit complex and can lead to problems later if not done correctly.

A lease option should have 3 parts: lease, option, and purchase contract. If you don’t include the contract (or at least all the major negotiated terms of the contract), you could have problems later, such as “is the seller paying for a termite clearance?” etc. There’s a higher chance of litigation if not handled correctly.

Good luck.

"Hi Gary. I inherited a property from my father in Mach 2008. I’d like to sell now. But to get the tax break, I can’t sell until next March so that I’ll have lived here two years…"

Answer:
Let me stop you right there…

You’re referring to the homeseller exclusion. If you’ve owned and lived in the home for at least 2 of the past 5 years, singles can exclude and pay no income tax on 250K of gain. Couples can exclude 500K.

However:

Most (or all?) of my clients who inherited a home got what is called “stepped up basis”.

This means in determining your gain, the IRS treats it like you bought the home for the value on the date the person passed away. This is contrast to the IRS treating it as though you got the home for nothing and taxing you on the entire amount.

Bottom line is you probably will have little or no taxes to pay.

DISCLAIMER: I know enough about taxes to be dangerous and am NOT a tax expert. Please see a tax professional. If you don’t know one, call me and I’ll refer you to someone I know and trust.

"Is anyone still packaging 80/20 loans to avoid PMI?"

Answer:
(An 80/20 loan is financing with an 80% first loan, a 20% second loan, and zero down. PMI or Private Mortgage Insurance insures banks against loss on loans with under 20% down.)

Too much risk. 80/20s are a thing of the past.

PMI firms are requiring owner-occupant buyers to put at least 10% down on conventional loans.

Your best option for low down is -0- down VA if you’re eligible or 3.5% down FHA.

THIS WEEK'S FEATURED PROPERTY!
	Spacious Upgraded College Area Home BR/BA: 3/2 Sqft: 1,445 Price: $395,000 - $430,000
– College Area – Spacious upgraded home w/ hrdwd floors & large rooms on quiet street! Stunning expanded gourmet kitchen w/ maple cabinets, granite, stainless steel. 5-yr-new upgrades: central A/C & heat, dual-pane vinyl windows, medieval distressed-wood front door w/ "speakeasy" opening, interior doors, roll-up garage door, recessed lights. Brand-new interior paint, cov'd patio, grassy bkyd, upgr electrical. Across from "The Language Academy" French/Spanish elementary school. Walk to synagogues, churches, etc. View Details

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

– Chula Vista – Foreclosure! Cute house w/ hardwood floors, 2-car garage, nice yard, in great Hilltop neighborhood. Contact Me
3BR/2BA, 1444 sqft
Last sold @ 516K >>> To be low/mid 200s?
– Chula Vista – Foreclosure! Cute single-level home with pool. Great starter home. Contact Me
3BR/1BA, 1536 sqft
Recently appraised @ 510K >>> Price TBD
– Chula Vista – Foreclosure! Gorgeous Otay Ranch home with mountain views. Entertainer’s backyard, stunning kitchen. Contact Me
4BR/3BA, 2462 sqft
Last sold @ 593K >>> Price TBD
– 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 – 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! 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?
– Downtown – Foreclosure! Beautiful & spacious 1BR “Treo” condo built in 2003. Gas FPL, washer/dryer in unit, more. Contact Me
1BR/1BA, 707 sqft
Recently appraised apx 423K+ >>> To be low 200s.
– Downtown – Foreclosure! Enjoy downtown living at “Symphony Terrace”. Complex has pool/spa, fitness, sauna. Contact Me
1BR/1BA, 673 sqft
Last sold @ 292K >>> Price TBD 8th St.
– Downtown – Foreclosure! "Palermo" studio/1BR loft w/ private patio. Complex has pool/spa, fitness, business ctr. Contact Me
1BR/1BA, 860 sqft
Last sold @ 354K >>> Very low 200s?
– East San Diego– Foreclosure! Charming craftsman home w/ addition, huge master suite, updated kitchen, private backyard. Contact Me
3BR/2BA, 1568 sqft
Last sold @ 500K >>> Price TBD
– Eastlake Area – Foreclosure! Spacious newer home w/ panoramic Otay Lake & mtn view, granite, hardwood, 3-car garage. Contact Me
5BR/3BA, 2578 sqft
Last sold @ 725K >>> To be 400s?
New – Encanto – Foreclosure! Spacious 2-story 1984-built home on quiet street. 2-car garage, nice yard. Contact Me
4BR/3BA, 2088 sqft
Recently loaned to 510K >>> To be high 200s?
– 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?
– Escondido – Foreclosure! Fantastic custom home w/ front courtyard, private & secluded area, pool + covered patio, views! Contact Me
3BR/3.5BA, 2317 sqft
Last sold @ 663K >>> To be 400s?
– Kearney Mesa – Foreclosure! Stunning 5-year-new fully-upgraded Esplanade/Spectrum townhome w/ 2-car garage. Contact Me
4BR/3.5BA, 1675 sqft
Last sold @ 587K >>> To be 300s?
– La Jolla – Foreclosure! Breathtaking ocean views from this one-level oceanfront condo @ 333 Coast Bl. Contact Me
2BR/2BA, 1342 sqft
Last sold @ 915K >>> To be 700s/800s?
– La Jolla – Foreclosure! Delightful single-level home, sweeping ocean views from most rooms, large lot. Contact Me
3BR/2BA, 2107 sqft
Previously appraised @ 1.44M >>> Price TBD
– 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?
– Lemon Grove – Foreclosure! 2-story family home in “Miller Ranch” community, 2-car garage. Contact Me
3BR/2.5BA, 1615 sqft
Previously appraised @ 467,500 >>> Price TBD
– Mission Hills – Foreclosure! Modern yet quaint 1923-built home on a quiet lush canyon. Many upgrades, hdwd floors, FPL. Contact Me
2BR/2BA, 1848 sqft
Loaned to over $1M >>> To be in 800s?
– Mission Valley – Foreclosure! Upgraded condo in desirable “River Colony” in the heart of Mission Valley. Community pool/spa, fitness center, patio balcony, cozy fireplace. Contact Me
2BR/2BA, 977 sqft
Last sold @ 395K >>> To be in 200s?
– Nestor – Foreclosure! Ranch-style home w/ 2-car garage, fireplace, good-size backyard. Contact Me
3BR/2BA, 1152 sqft
Last sold @ 395K >>> Price TBD
– Nestor – Foreclosure! Gorgeous 2-story “Ocean Hills” home w/ views, 3-car garage, vaulted ceilings. Contact Me
5BR/2.5BA, 2353 sqft
Last sold @ 585K >>> Price TBD
– Ocean Beach – Foreclosure! Beach cottage w/ 2-car garage, partial ocean view, small yard, quiet street. Contact Me
2BR/1BA, 758 sqft
Recent appraisal 644K+ >>> To be low 400s?
– Oceanside – Foreclosure! Single-level family home w/ 2-car garage, open floorplan, remodeled kitchen, A/C. Contact Me
3BR/2BA, 1460 sqft
Previously appraised @ 285K >>> To be low 200s?
– Pacific Beach – Foreclosure! Mission Beach view condo w/ 2-car garage, walk to beach/bay, quaint 4-unit complex. Contact Me
2BR/2BA, 955 sqft
Last sold @ 420,862 >>> Price TBD
– 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?
– Paradise Hills – Foreclosure! Cute townhome in “Bay Terraces”. Open floorplan, 1-car garage, laundry. Contact Me
2BR/1BA, 840 sqft
Previously valued @ 281K >>> To be high 100s?
– Poway – Foreclosure! House on .36 acres zoned for horses w/ lovely views. Contact Me
3BR/2BA, 1458 sqft
Recent appraisal 444K+ >>> To be low 300s?
– Rancho Bernardo – Foreclosure! 2BR+loft condo w/ 2-car garage, mountain views, FPL, in “Provencal” gated community. Contact Me
2BR/2BA, 1322 sqft
Last sold @ $475,000 >>> To be high 200s?
– Rancho Bernardo – Foreclosure! Sharp house on culdesac w/ red tile roof, 8494 sqft lot, big yard, views, a/c. Contact Me
3BR/2BA, 1727 sqft
Last sold @ $575,000>>> To be low 400s?
– Rancho Bernardo – Foreclosure! Handsome 2-story home in Chateau Bernardo. Breathtaking panoramic views, 3-car garage. Contact Me
5BR/3BA, 3179 sqft
Last sold @ $789,000 >>> Price TBD
– 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?
– San Marcos – Foreclosure! 6-year-new home near Cal State San Marcos. More info to follow. Contact Me
4BR/3BA, 2358 sqft
Last sold @ 615K >>> To be low 400s?
– Santee – Foreclosure! Single-level home on .5 acre lot! 1000sqft detached workshop, huge covered patio. Contact Me
4BR/2BA, 1644 sqft
Last sold @ $502,500 >>> Price TBD
– Spring Valley – Foreclosure! Large home on private culdesac w/ open view, oversize backyard, 2-car garage. Contact Me
5BR/3BA, 2115 sqft
Recently appraised apx 650K >>> To be 300s.
– Vista – Foreclosure! 2-story mountain view home on large lot. pool. Sparkling pool, 2-car garage. Contact Me
3BR/1.5BA, 2424 sqft
Last sold @ $600,000 >>> Price TBD

NEWLY LISTED (Your Property Here!)

Upgraded home w/ expanded maple/ granite/ stainless kitchen, hdwd floors, a/c, large rooms, quiet str.

3 Bed, 2 Bath 1445 Sqft Price: $395,000 to $430,000

Lovely 1998-built “Castle Creek” home, open floorplan, FPL, vaulted ceilings. No Mello Roos.

4 Bed, 2.5 Bath 1646 Sqft Price: $300,000 Last sold @ 460K

Affordable home for first-time buyer or investor. Built 1980, 2-car garage, nice yard.

3 Bed, 2 Bath 1340 Sqft Price: $240,000! Loaned to 344K

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: $110,000! Last sold @ 269K

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

2-story “Williams Ranch” family home w/ 2-car garage, quiet community.

3 Bed, 2.5 Bath 1,436 Sqft Price: $260,000! Previously appraised @ 398,400

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!

Great starter home w/ 2-car garage on spacious 9000 sqft lot. 2-car garage, big yard.

3 Bed, 2 Bath 1,099 Sqft Price: $319,900 Last sold @ $430,000

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: 1.55M-1.75M

Gorgeous home w/ great bkyd, distant ocean vu, FPL, .35 acres, 2-car garage, more.

4 Bed, 3 Bath 2,315 Sqft Price: $524,900-$549,000

Upstairs condo w/ shared garage, patio balcony, end-unit, great starter home.

2 Bed, 1 Bath 882 Sqft Price: $84,900! Last sold @ $140,000

Spacious manufactured home in Warner Springs Estates.

3 Bed, 2 Bath 2,037 Sqft Price: $98,900 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.