• 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
Hello and welcome back. Have you signed up yet for my two upcoming free seminars? I’d love to see you there. And please tell a friend. Some info:

#1 - “How To Short Sale Your Home Or Rental”
Saturday 9/26 10am-Noon
If your loan balance is too high to sell, but you can’t pay your mortgage &/or need to sell, a short sale is probably your best option. You’ll learn everything you need to know, including whether you’ll likely qualify. Note: This is NOT about buying short sales.

#2 - “How To Buy A Foreclosure In San Diego”
Saturday 10/24 10am-Noon
Foreclosures are a huge % of available homes for sale. If you don’t know how they differ from a standard home purchase, you’re in for a rough ride. I’ll share inside info to help you land a good deal on a foreclosure.

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

…Follow me on Twitter or become a Facebook Fan.

How The HVCC Might Blow Up Your Home Sale or Purchase
The HVCC, or Home Valuation Code of Conduct, is a recent federal law to address past excesses where lenders pressured appraisers to overvalue homes. It prevents most lenders from influencing, choosing, or even communicating with the appraiser. Appraisers now have no incentive to appraise at the price the buyer and seller agreed upon. At the same time, they have every incentive to come in low/conservative to avoid trouble in case the loan goes bad and someone decides they overvalued the home. Result: appraisers are coming in low on 1 in 5 sales. I can’t tell you how many homes I’ve sold with 10 offers over, say, 500K, only to have the appraiser say it’s worth 475K. This too often results in a homeseller and homebuyer blocked from completing their sale. Congress didn’t foresee this (surprise!) and the feds vehemently deny a problem even exists. One proponent of the law even had the chutzpah to say when a home appraises low it’s because the buyer and seller aren’t aware of market conditions. Last time I checked, buyers and sellers ARE the market. (Sorry for the rant.)

True Story: Not Even A Goldfish?
In the 1987, a couple in their 60s invited me by to talk about selling their Tierrasanta townhome. We went over things they could do to get a higher price. I hesitated to say one painfully obvious thing for fear of offending them. But my job is to look out for my clients, not be a wimp, darn it. So I bit my lip and said, "I suggest you clean the carpets to get rid of the pet odor." Their response: "We’ve never had pets." Ouch. BTW, they never did hire me to sell their home. Go figure…

Quick Real Estate Tip #7
Interviewing agents to sell your home? Tell them you will NOT choose your agent based on who says the highest price. This lessens the incentive for agents to artificially inflate the price to get your business.

Top 10 Most Affordable U.S. Metro Areas
Looking to move to a more affordable area? Here are 10 metro areas ranked based on the percentage of affordable homes for a family making the median income in that area:

1.--- 95.0% ---Lansing-East Lansing, MI
2.--- 94.4% --- Sandusky, OH
3.--- 93.4% --- Lima, OH
4.--- 93.2% --- Springfield, OH
5.--- 93.1% --- Indianapolis-Carmel, IN
6.--- 93.1% ---Bay City, MI
7. ---92.1% --- Battle Creek, MI
8.--- 91.4% --- Canton-Massillon, OH
9.--- 90.0% --- Saginaw-Saginaw Township, MI
10. --89.7% -- Utica-Rome, NY

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? Many of my REO (foreclosure) properties have discounts of 10% to a whopping 49% from their previous values. Click on 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: "WARNING: Hire No Agent Until You Read This Guide"
The #1 decision when selling a property is which agent to hire. The agent impacts your bottom line, legal liability, timing, and your sanity! And most people have NO CLUE how to choose the right one. Now you can discover costly traps people fall into when choosing an agent & how to find the best one. It covers:

- Who promises to market your home-- & who really delivers?
- The 12 smart questions to ask agents
- 9 dangerous ways people select an agent
- The only 3 foolproof guidelines to choose an agent
- How to tell who's great at selling homes & who's exaggerating
- One easy question that quickly weeds out 50% of agents

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
“How To Short Sale Your Home Or Rental”
UTC Mall – Saturday, Sept 26th, 10AM-Noon
Click for Seminar Flyer / Click to Reserve Your Free Seat

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

• Short sales, clearly & simply explained!
• Are YOU likely to qualify for a short sale?
• Can you really do short sale with -0- out of YOUR pocket?
• How long short sales take...& how to cut the time in HALF**
• Tax impacts of short sale vs. foreclosure (verify w/ your CPA!)
• The document your attorney must read closely to avoid problems
• Your 7 options if you owe too much. Most agents only tell you 3.
• Which “hardships” qualify you for a short sale? Which don’t?
• The specific clause you need in your contract with the buyer
• Do you need to be CURRENT on HOA dues? Property taxes?
• Do you need to be BEHIND on your mortgage payments?
• If an agent does THIS, they likely don’t know short sales
• 5 reasons a short sale is usually better than foreclosure
• THE most important thing to have to do a short sale
• Impact & how long is a short sale be on your credit?
• How soon can you buy a home after a short sale?
• Will a short sale delay or prevent foreclosure?
• Can your lender go after you for their loss?
• Should you spend $ to fix up your home?

-----------------------------------------------------------------------------------------------------------------

FREE Seminar
"How To Buy A Foreclosure In San Diego"
UTC Mall – Saturday, October 24th, 10AM-Noon
Click for Seminar Flyer / Click to Reserve Your Free Seat

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

• - With 12% of U.S. mortgages are behind, is there a new wave of Alt-A, Option ARM, & Prime foreclosures coming?
• - Should you buy before home prices climb out of your reach?
• - Bailouts, loan “mods”, moratoriums...what’s REALLY going on?
• - Top 10 San Diego neighborhoods with the best REO deals today
• - Wise, timely words millionaire Baron Rothschild said in the 1800s
• - 5-step plan to getting a great value on a foreclosure in 90 days
• - When Homebuyers can put 3% down and investors 10% down
• - 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 #1 mistake people make when offering on an REO
• - Traps in the small-print that banks make you sign
• - The truth about a home that’s a “short sale”
• - How much banks negotiate off their price
• - What to watch out for in an REO
• - Much more

"My husband and I found a foreclosed home we want to buy, but it’s not on the market yet. How do we make our offer if it’s not listed?"

Answer:
You or your agent could contact the bank that foreclosed on it and with some persistence hopefully reach the right person to talk to. And that person will likely refer you to the agent who’s handling it.

You can then submit your offer to that agent.

However…

Most banks won’t respond to offers until they’ve priced the home and put it on the market. Based on my experience, I’d say you have about a 5% chance of getting the home before it hits the market.

And there’s always the risk your offer could be higher than what they’re planning to list it for. I’ve had this happen several times.

Good luck.

"I've had 3 agents out and they all say my home is worth $700,000 to $720,000, but I know with what I've done it's got to be worth at least $775,000. Is it common for agents to underprice a home to get a quick sale?"

Answer:
No, it's much more common that if you interview a few agents, one or two will OVERprice your home just to win your business. My guess by the tight range they quoted you is that these agents didn't under- or over-price your home.

It's also common for homeowners to over-price their home. Why? Because it's hard for a homeowner to be objective about his or her own home. They see all the good and the reasons they bought it. And they downplay the not-so-good, many of which they’ve come to accept and now barely notice.

In fact – and this is embarrassing to admit-- the last time I sold a home I lived in, I over-priced it by 10%!

Based on what you’re telling me, the odds are you’ll get in the low $700's. And when you choose the agent to list with, DON'T just choose the one with the highest price as many uninformed homesellers do. Choose the agent with the best track record.

P.S. I try to walk a fine line of giving objective advice and reminding you that I AM an active real estate broker here in San Diego. So feel free to call me at (858)457-KENT about selling your home.

"Gary... My credit scores are not allowing me to buy any real estate and I have federal tax liens. I've been working on the fed. tax liens and have cleared most of them, but my credit scores are still in the 500's. I have no cash and no one to turn to to borrow a down payment. This has got to be the worse case you have ever heard. I'm interested in being a real estate investor but it all seems hopeless. I don't know anyone who will co-sign with me on a investment property. What can I do??????"

Answer:
Obviously, you have big challenges. Honestly, if I were you, I'd focus my energy on something else. But, if you're determined, here's my best advice:

Since you have no money and can't borrow any, what can you offer a potential partner? Are you a contractor? Skilled in construction? Unskilled but willing to do hard labor? Or do you want to invest lots of time & energy trying to find a "good deal" you can bring to a partner? Is there something else you can offer?

If you really can bring something to the table, then you need to find a partner. Try CraigsList. Given your credit and liens, you'll have to be a silent partner, meaning not on the title or the loan. And that means you'll either need to rely on trust that you'll get your share (foolish), or you'll need to seek legal counsel (smart) to get something in writing.

Good Luck...

THIS WEEK'S FEATURED PROPERTY!
	Inviting & Charming North Park Home BR/BA: 2/1 Sqft: 832 Price: $425,000
– North Park – Inviting & charming craftsman home, walk to Balboa Park & Morley Field! Artfully designed patio/yard w/ redwood deck, stamped concrete, pond, relaxing sitting areas, spa, flagstone walkway & drip irrigation! Offers new Bamboo fencing, hardwood flooring, delightful & sunny kitchen w/ slate flooring, front porch, updated BA w/ jacuzzi tub & porcelain tile, good-size 1-car garage w/ alley access & laundry, tile FPL in living room! Enjoy North/South Park living w/ art galleries, new shops, dining & more! Take A Look

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

– Carmel Valley – Foreclosure! Upper end “East Bluff” condo overlooking greenbelt. 2-car garage, interior laundry, FPL. Contact Me
2BR/2BA, 942 sqft
Loaned to 390K >>> To be 200s?
– 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! 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?
New – Clairemont – Foreclosure! Duplex: 2 separate 2BR houses, one is oversize at 1269 sqft. West Clairemont near bay. Contact Me
2BR/1BA 1269sqft + 2BR/1BA 758sqft
Last sold @ 665K >>> To be 400s?
– 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! "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
– 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! 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?
– 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?
New – Linda Vista – Foreclosure! Low-priced condo conversion near Mesa College, freeways. Need 25% down or possibly all cash. Contact Me
1BR/1BA, 554 sqft
Last sold (unknown) >>> To be 70K?
New – Linda Vista – Foreclosure! Great affordable condo for 1st-time buyer or investor. Near 805 and 163 freeways. Contact Me
1BR/1BA, 554 sqft
Last sold 265K >>> To be 70K?
– 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
– 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?
New – Ramona – Foreclosure! Attractive .49 acre horse property w/ canyon vu, FPL, 2car garage, culdesac. Built 1988. Contact Me
3BR/2BA, 1693 sqft
Loaned to 454K >>> Now mid 300s?
– 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
– Rancho Penasquitos – Foreclosure! 1983-built 1-level home in Trailwood w/ tile roof, a/c, covered patio. Near park. Contact Me
3BR/2BA, 1571 sqft
Appraised @ 525K+ >>> To be mid 400s?
– 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?
New– Spring Valley – Foreclosure! Two detached 3BR houses w/ 2car garage, yard, both inside laundry. Live in one + rent other. Contact Me
3BR/2BA + 3BR/1BA
Last sold 642K >>> To be hi 200s??
New– Spring Valley – Foreclosure! Sharp family home on oversize .24 acre lot w/ 2-car garage, large yard, more. Contact Me
3BR/2BA, 1280 sqft
Last sold 265K >>> To be 200K?
– 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.
– University City – Foreclosure! Lovely “Villa Vicenza” complex. Walk to UTC, Whole Foods, Aventine restaurants. Contact Me
2BR/2BA, 1001 sqft
Last sold @ 444K >>> To be high 200s?
– 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!)

Light & bright 1-story w/ FPL, bay window, 2-car garage, large 1/4-acre lot. Built 1980.

4 Bed, 2 Bath 1,438 Sqft Price: $253,800 Recently appraised @ 325K?

Modern yet quaint 1923-built home on a quiet lush canyon. Many upgrades, hdwd floors, FPL.

2 Bed, 2 Bath 1,848 Sqft Price: $732,600 Loaned to over $1M

Cute recently remodeled kitchen. Walk to park, restaurants, shops. Has fountain, Jacuzzi, deck, garage.

2 Bed, 1 Bath 832 Sqft Price: $425,000

Single-level family home w/ 2-car garage, open floorplan, remodeled kitchen, A/C.

3 Bed, 2 Bath 1,460 Sqft Price: $229,900 Previously appraised @ 285K

Remodeled 1-level beachfront penthouse condo w/ panoramic whitewater ocean, beach, sunset views!

2 Bed, 2 Bath 1000 Sqft Price: $1,175,000

Cute townhome in “Bay Terraces”. Open floorplan, 1-car garage, laundry.

2 Bed, 1 Bath 840 Sqft Price: $70,000 Previously valued @ 281K

Great 1st-time home or rental w/ garage, a/c, mountain view from backyard.

3 Bed, 1 Bath 1020 Sqft Price: $170,000 Last sold @ 312K

MORE GREAT HOMES & INVESTMENTS (Your Home Here!)

Panoramic, unobstructable views of bay, ocean, sunset, fireworks, nightlights. 2-story w/ RV garage.

3 Bed, 2 Bath 2,223 Sqft Price: $785,000!

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

3 Bed, 2 Bath 1,380 Sqft Price: $105,000! Last sold @ 269K

Gorgeous 2-story home next to Bay Ho w/ curb appeal, palms galore, breezy MBR w/ vaulted ceilings.

3 Bed, 3 Bath 2,294 Sqft Price: $599,000 - $640,000

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

Enjoy downtown living at “Symphony Terrace”. Complex has pool/spa, fitness, sauna.

1 Bed, 1 Bath 673 Sqft Price: $174,900 Last sold @ 292K

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

Spectacular home on .98 acres w/ FPL, travertine, hardwood, granite. Panoramic mountain views.

4-5 Bed, 2 Bath 3,046 Sqft Price: $419,900 Last sold @ $690,000

Lovely home w/ upgraded kitchen & baths, new paint, a/c, large yard, near community pool. Short Sale.

3 Bed, 2 Bath 1179 Sqft Price: $375,000

Mint, upgraded 2005-built top-floor “Lido” condo in security building, inside laundry, more.

3 Bed, 2 Bath 1,538 Sqft Price: $475,000 Last sold @ 707K

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

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

Immaculate, sunny canyon-view home—shows like a model! 3-yr-nu kitchen w/ granite & maple. FPL, a/c.

3 Bed, 2.5 Bath 2,038 Sqft Price: $599,000 - $640,000!

Short sale! Mint 1-level “Lucera” condo w/ garage, many upgrades. Great community near UTC, 805.

2 Bed, 2 Bath 848 Sqft Price: $270,000 Last sold $482,500

Beautiful, open & bright condo w/ many new upgrades. Walk to shopping, bus, banks, etc.

1 Bed, 1 Bath 692 Sqft Price: $164,900 Last sold @ 293K

Spacious manufactured home in Warner Springs Estates.

3 Bed, 2 Bath 2,037 Sqft Price: $89,900 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.