• 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
TOMORROW 10AM:
I’ve updating my free foreclosure seminar and changing it to “How To Buy A Foreclosure or Short Sale In San Diego” to cover buying foreclosures and SHORT SALES, including:

• - Foreclosures are hot…“How the heck do I get my offer accepted on a
  foreclosure!?”
• - 5 things to know before you offer on a short sale
• - Forget it if the short sale seller doesn’t have this ONE thing

The seminar is Saturday, 10/24 10-Noon. Please invite a friend or email the flyer to someone you know. Thank you! Register

…Check out my latest NEW free San Diego real estate seminar: "How To Buy Real Estate In Your IRA". Saturday, January 16, 10-noon @UTC. Call 858-457-KENT to register.

…Do you or someone you know need to do a short sale? Mark your calendar for Saturday, January 30th, 2010 for my free seminar “How To Short Sale Your Home Or Rental”. Click here to register. If you need info before that, please call me at 858-457-KENT.

… The Santa Fe Railroad bought the San Dieguito Ranch for $100,000 in 1906. In 1922 they developed an area and named it after the railroad. We now call it…Rancho Santa Fe.

…This Week’s Crazy Building: We’ve got the Rock Church in Point Loma. But have you ever seen the majestic Chapel In The Rock in Arizona?

…CORRECTION: Last week I wrote that loans are flexible and you don’t need 20% down to buy. It should have said that even though loan qualifying has tightened, it’s more flexible than many people realize. You can still buy zero down (VA) and 3.5% down (FHA), and 10% down (conventional).

…Follow me on Twitter or become a Facebook Fan.

Quick Real Estate Tip #12
Ask any agent you’re considering working with if they've ever read the entire purchase contract word-for-word. After all, they’ll want you to sign that long document…and you’ll probably never read it. When you ask, watch closely when they answer. If they admit they haven’t or get flustered and say something like, “I know what it says”, get another agent!

Check Out Our NEW Foreclosure Hot-List!
Want to buy a foreclosure, but can’t find a website to search for them? Finally…check out our 100% BRAND-NEW website: www.Foreclosure-Hotlist.com. It’s 2.5 years in the making (OK, so we were a little slow), but it’s well worth it. Let me know what you think.

Top 10 U.S. Cities to “Live Well”
According to Forbes.com, These regions boast cultural amenities, pro-business environments, highly educated workforces and enviable salaries:

1.--- Boulder, CO
2.--- Doral, FL
3.--- Fairfax, VA
4.--- Mountain View, CA
5.--- Cupertino, CA
6.--- Newton, MA
7.--- Columbia, MD
8.--- Rockville, MD
9.--- Coral Gables, FL
10.-- Foster City, CA
Click here for the full story, including cities #11 thru #25.

True Story: The Unexpected Visitor
One sunny day, I arrived to meet a young lady at a Bay Park house she'd inherited and was considering selling. We sat in her oddly dark living room to talk. Slowly, as my eyes began to adjust, I noticed something very large lying on the floor just feet from me…a full-grown boa constrictor! Needless to say, I became a bit distracted. All I recall after that was how relieved I was to get out of there.

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.

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 $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.

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 BUY A FORECLOSURE OR SHORT SALE 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?
• - Bailouts, loan “mods”, shadow inventory...what’s really going on?
• - How to beat multiple offers & get the bank to accept YOUR offer
• - When homebuyers can put 3% down and investors 10% down
• - Top San Diego neighborhoods with the best REO deals today
• - How to get banks to pay EVERY PENNY of your closing costs
• - Should you buy before home prices climb out of your reach?
• - Auction tricks, traps, and pitfalls that I swear will shock you
• - How to cut in half the time it takes to close your short sale
• - Seller doesn’t have THIS? Don’t even offer on a short sale
• - Free email access to undervalued & foreclosed properties
• - Short sales...5 things to know before you make an offer
• - The #1 mistake people make when offering on an REO
• - Traps in the small-print that banks make you sign
• - New website where you can find foreclosures
• - 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

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NEW FREE Seminar
"How To Buy Investment Real Estate With Your IRA or 401K"
UTC Mall – Saturday, January 16th, 10am-Noon
Click for Seminar Flyer / Call 858-457-KENT to register.

When you attend, you'll discover:

• Invest as little as $50,000...or up to tens of millions of dollars
• 5 simple easy-to-follow steps to get started buying real estate
• Tired of low returns or ugly losses in your retirement account?
• If your IRA buys a rental house, are you allowed to manage it?
• How to make money tax-free/deferred in your retirement plan
• How fast & easy it is to buy real estate in your IRA, 401K, etc.
• You may be surprised at what kind of real estate you can buy
• My experiences buying and selling real estate in my own IRA
• Can you buy from or sell real estate to your own IRA/401K?
• Why hasn’t your stockbroker told you about this before?
• “Partnering” with your own IRA...a little-used technique
• Real estate as a major hedge against coming inflation
• How your retirement account can borrow to buy more
• Do THIS & your retirement plan will UNRAVEL (bad!)
• Simple rule-of thumb to analyze cash flow & return
• Take advantage of historic low real estate values
• You’ll laugh when you hear what I told my CPA
• How to write your offer-to-purchase correctly
• How to partner with your family and friends
• Why you need to know “disqualified person”
• Buy your future retirement home NOW
• Buy for “fix & flip” or rental income.
• Bring your questions!

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FREE Seminar
“How To Short Sale Your Home Or Rental”
UTC Mall – Saturday: January 30th 2010, 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?

"How much should my deposit be when I buy a home? I've heard you should make it as small as possible so you don't lose much if you back out."

Answer:
Small deposits do pose less risk to you as a buyer. But your deposit money is only at risk if you back out, and you're not going to do that, are you? If you cancel your purchase within your rights in the contract, you should get every dime back.

The downside of a small deposit is that it shows the seller a lack of seriousness and may make them wonder if you even have enough money to buy their home.

My opinion is that a deposit should be 1% to 3% of the price. A bigger deposit -- say 5-10% -- can impress a seller and make him or her more likely to take your offer.

Good luck...

"How do I know if I qualify for a short sale?"

Answer:
The only way to know 100% is to go through the process and see if your lender(s) approves you.

Of course, it would be nice to know in advance if you’re likely to be approved, so you don’t waste a lot of time and effort by being denied.

I can PRE-qualify you, meaning talk with you and ask you questions and tell you if you’re likely to qualify.

Call our office and we can tell you over the phone whether you will likely qualify. We have former underwriters from major national lenders who work in our office on our short sale team. The overwhelming majority of our clients are approved for a short sale because 1) we know how to submit the short sale package in such a way that the lenders will approve them and 2) we have a tremendous amount of experience with short sales and negotiating with the lenders.

"I’ve heard that some banks prefer to sell to owner-occupants instead of investors. Is that true? And it sounds like discrimination. Is it legal?"

Answer:
You’re correct. Some banks do prefer to sell to investors.

For most banks, it’s strictly practical: all other things being equal (down payment, etc.), an owner-occupant has an easier time getting a loan. So that makes the sale more likely to close.

In addition, most owner-occupant buyers more emotionally involved in the home they’re buying than an investor is. That means they’re more likely to do what it takes to follow through with the sale. That’s opposed to an investor who’s usually not emotionally involved.

Fannie Mae has a policy where they want to promote homeownership, so they do give some preferential treatment to owner-occupant buyers.

As to discrimination, here’s my not-attorney answer…

Investors are not a “protected class”, so they can’t claim discrimination.

THIS WEEK'S FEATURED PROPERTY!
	Just Reduced! Stunning Home In Pacific Beach BR/BA: 3/2.5 Sqft: 1,717 Price: $560,000 - $600,000
Reduced – Pacific Beach – Offers stunning remodeled kitchen w/ raspberry-mocha granite, walnut cabinets, & breakfast bar. You'll also enjoy the MBR w/ partial bay views & slate FPL, lovely upgraded baths w/ granite & porcelain tile showers, slate FPL in living room, travertine, mirror wardrobes, recess lights, cool breezes, forced heat & a/c, 2 patio balconies + covered patio area! Great for entertaining! View Details

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! 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?
– 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?
New– Escondido – Foreclosure! Sharp “Laurel Valley” 2-story house w/ pool, granite, parklike view. Near Escond Country Club. Contact Me
4BR/2.5BA, 1856 sqft
Last sold @ 475K >>> To be 300?
– 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! Spacious 2BR view home on 1.14 acres. Needs some fixup. Built 1974. Contact Me
2BR/2BA, 1351 sqft
Loaned to 360K >>>To be 200s?
– 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?
– 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
New– Ocean Beach / Loma Portal – Short Sale! Cute, cozy, & affordable top-floor condo in “Pacific Isle”. Ideal starter home or rental. Contact Me
1BR/1BA, 547 sqft
Just $150,000!
– Ocean Beach – Short Sale! Short sale! Stylish upgraded condo w/ hardwood floors, travertine, private patio. Gated complex. Contact Me
2BR/2BA, 1050 sqft
Last sold @ 420K >>> Value Range $220,000-$250,000
– Pacific Beach – Foreclosure! Enjoy bay & downtown nitelite views from this 1-level condo in a bayfront complex! Contact Me
2BR/2BA, 913 sqft
Last sold @ 535K >>> To be 400K?
– Pacific Beach / Mission 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?
– 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 Carlos – Foreclosure! Affordable “Carefree” condo w/ only one common wall. Walk to Mission Trails Park! Contact Me
2BR/1BA, 880 sqft
Last sold @ 253,500 >>> To be 100s?
– San Elijo / San Marcos – Foreclosure! Stunning 6-year-new home in gated “Westcliffe” on culdesac w/ panoramic views. Contact Me
5BR/4.5BA, 4302 sqft
Loaned to @ $919,000 >>> To be 700s/800s?
– 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?
– 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??
– 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.
– Vista – Foreclosure! Culdesac home w/ panoramic views, ocean breezes, FPL, RV parking, 2-car garage, more. Contact Me
3BR/1.5BA, 2424 sqft
Loaned to 424K >>> 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!)

Beautiful & spacious 1BR “Treo” condo built in 2003. Gas FPL, washer/dryer in unit, more.

1 Bed, 1 Bath 707 Sqft Price: $225,000 Recently appraised apx 423K+

Large home on private culdesac w/ open view, oversize backyard, 2-car garage.

5 Bed, 2.5 Bath 2115 Sqft Price: $339,900 Recently appraised apx 650K

MORE GREAT HOMES & INVESTMENTS (Your Home Here!)

Cute single-level home with pool. Great starter home.

3 Bed, 1 Bath 1536 Sqft Price: $219,800 Recently appraised @ 510K

Ugly fixer 3BR house in upgrading neighborhood near Bay Park. 7000 sqft lot.

3 Bed, 1 Bath 1168 Sqft Price: $306,000 Recently appraised @ 500K?

“Palermo” studio/1BR loft w/ private patio. Complex has pool/spa, fitness, business ctr.

1 Bed, 1 Bath 860 Sqft Price: $230,670 Last sold @ 354K

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

Oversize commercial loft in the Gaslamp’s “Samuel Fox” building. Granite, 2 parking spaces.

0 Bed, 2 Bath 1705 Sqft Price: $189,900 Recently sold @ 468K

Remodeled home w/ city views, 2-car garage, more.

3 Bed, 2 Bath 1247 Sqft Price: $190,400 Last sold @ 358K

Lovely redone home w/ spectacular remod kitchen w/ granite & walnut, 2 FPL, partial bay view, 2-car garage.

3 Bed, 2.5 Bath 1,717 Sqft Price: $575,000 to $625,000

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

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

Attractive .49 acre horse property w/ canyon vu, FPL, 2car garage, culdesac. Built 1988.

3 Bed, 2 Bath 1693 Sqft Price: $309,900 Loaned to 454K

Sharp house on culdesac w/ red tile roof, 8494 sqft lot, big yard, views, a/c.

3 Bed, 2 Bath 1727 Sqft Price: $450,500 Last sold @ $575,000

6-year-new home near Cal State San Marcos. More info to follow.

4 Bed, 3 Bath 2358 Sqft Price: $399,950 Last sold @ 615K

Lovely “Villa Vicenza” complex. Walk to UTC, Whole Foods, Aventine restaurants.

2 Bed, 2 Bath 1001 Sqft Price: $277,900 Last sold @ 444K

5-year-new 1-story home on 2 acre view lot. Has 4-car garage, granite, 2 FPL, huge yard.

3 Bed, 1 Bath 1,168 Sqft Price: $332,000 Recently appraised @ 500K?

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.