• 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. We have more light blurbs than usual, as well as the normal information and question/answers this week that I hope you find interesting and useful. Thanks for visiting…

• The 8K tax credit benefits home SELLERS, not home buyers.
  
  Huh?!
  
  Like many U.S. housing markets, San Diego’s 1st-time buyer market (under 500K) is HOT. You’ve seen or heard of homes getting multiple offers and selling way over list. It’s because we have a shortage of entry-level homes…NOT a shortage of entry-level homebuyers.
  
  The 8K credit merely fuels the fire and pushes prices UP. How does that help homeBUYERS? It doesn’t. It helps homeSELLERs. (I have nothing against homesellers; we just don’t need to give them billions of our tax $$s.)
  
  So here’s how it works:
  
  Step #1- Feds take tax $$ from you & me (or add to deficit)
  Step #2- Feds give billions of 8K tax credits to homebuyers
  Step #3- Having more $$, homebuyers bid prices up
  Step #4- Buyers give 8K to sellers to help pay higher prices
  
  Am I making sense here? If I’m missing something, please email me…

…So scary I should have featured it last week for Halloween: USDebtClock.org shows the ever-increasing national debt and more.

…This Week’s Crazy Building: Ever heard of the “Kettle House” in Texas?

…If you think San Diego can get bit crowded, bet you never visited Hong Kong’s “Kowloon Walled City”, torn down in 1993. It looked like the world’s biggest apartment complex run amok. 33,000 people lived on it’s 6.5 acres (that’s smaller than Qualcomm Stadium itself—excluding parking). Now THAT is crowded.

…Follow me on Twitter or become a Facebook Fan.

True Story: I’ll Kick Your…Donkey
An agent I know (JH) had an escrow with an agent who wasn’t doing his job, causing problems and delays. He was also being, well, a jerk. Getting nowhere, JH drove to the agent’s office and called on his cell as he pulled up. The conversation got heated and the agent told JH, “I’m going to go over to your office and kick your (donkey).” JH responded, “You don’t need to drive over. I’m standing in your lobby.” Silence…followed by JH seeing the agent running out the back door and driving off.

Quick Real Estate Tip #14
Price per sqft is a poor measure of value. Many appraisers and agents use it. But it ignores location, condition, amenities, vu, lot, garage, upgrades, etc.

Top 10 Best San Diego County High Schools?
Rankings for San Diego County public schools have been updated for September 2009. The Academic Performance Index (API) represents how well students are learning basic skills. The statewide performance for all schools is 800. Here are the school rankings with their APIs:

1.-- 902--- River Valley Charter of Lakeside Union
2.-- 894--- Preuss School UCSD of San Diego Unified
3.-- 868--- Canyon Crest Academy of San Dieguito Union High
4.-- 861--- Coronado High of Coronado Unified
5.-- 861--- Torrey Pines High of San Dieguito Union
6.-- 851--- Poway High of Poway Unified
7.-- 848--- Westview High of Poway Unified
8.-- 841--- Rancho Bernardo High of Poway Unified
9.-- 841--- Scripps Ranch High of San Diego Unified
10.- 832--- Escondido Charter High of Escondido Union

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!
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.

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 Over-The-Phone Short Sale Consultation
Do you owe too much on your home to sell? Does this describe a friend or family member? A common solution many people are doing right now is a “short sale”, where the bank agrees to receive less than the amount owed. And it’s all done typically at zero cost to you. To find out more and if you qualify, call me at (858)457-KENT.

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.

I now have FOUR different free seminars for you or a friend to attend:

“How to Invest in Real Estate with Your IRA or 401K”

“How to Short Sale Your Home or Rental”

“How to Improve Your Credit & Buy A Home”

“How to Buy a Foreclosure or Short Sale in San Diego”

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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 / Click to Reserve Your Free Seat

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?

NEW FREE Seminar
"HOW TO IMPROVE YOUR CREDIT & BUY A HOME"
UTC Mall – Saturday: January 30th 2010, 1pm-3pm
Click for Seminar Flyer / Click to Reserve Your Free Seat

When you attend, you'll discover:

• How do I get my score as high as possible?
• What information is used to create my credit score?
• How does my FICO impact my interest rate & down payment?
• If I make all my payments on time, will I have perfect credit?
• What if I don't have any credit at all, how do I get started?
• My scores are really low, what should I do?
• I gave up on my credit long ago. Can I ever buy a home? (Yes!)
• Why you MUST pay your parking tickets
• Why you should almost NEVER pay off a collection debt
• How paying off your credit cards monthly may HURT your credit
• How long will a bankruptcy affect my credit?
• Will multiple parties checking my credit knock down my FICO?
• What really is a Credit Score?
• How to qualify for higher loan amounts
• How much must I raise my credit to get a better home loan?
• Lower closing costs & less paperwork when getting a mortgage
• Should you close unused credit cards?
• Why you should lease or borrow to buy a car.
• Components of a Credit Score

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FREE Seminar
"HOW TO BUY A FORECLOSURE OR SHORT SALE IN SAN DIEGO"
UTC Mall – Saturday, February 6th, 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

"I’ve been looking at foreclosures to buy and my agent told me the listing agent doesn’t have to tell you if they know something is wrong with the home. Is that correct?"

Answer:
Nope. There’s a lot of misinformation out there about foreclosures.

Both the buyer’s agent and the seller’s agent have the same disclosure requirements selling a foreclosure as selling any other property.

It’s the seller (typically a bank) that is exempt from filling out certain disclosure forms. But they are still required to disclose defects they become aware of.

"I'm moving out of state and talked to moving companies and it's going to cost a bundle to ship all my furniture. It’s pretty good quality and only 2 years old. Can you give me a rule of thumb for how much extra should I be able to get for my condo if I sell it furnished?"

Answer:
Here’s my rule of thumb: “Not much.”

The odds of the right buyer paying top dollar for both your home and your furniture are slim.

With some exceptions, furniture often ends up being a "throw in" or a sweetener in a home sale, if the buyer even wants it at all.

On average, I’d say to expect to get about 25% of its current value.

One more caveat:

Low appraisals are a common problem right now. And appraisers are not allowed to include personal property (furniture, etc.) in their appraised value. So if you get $10,000 more on your price for your furniture, the appraisal may come in low, leaving you with a problem.

"I’m ready to start looking for a home. I’ve read in your newsletter that one of the first things I should do is get pre-approved by a lender and find out my price range. What advice do you have as to how to choose a lender?"

Answer:
First of all, NEVER choose a lender based on the rate they promise you, as many will do a “bait and switch” and offer you a low rate that you’ll never get.

I suggest you use a lender that’s been recommended by your agent, but not if they recommend you use a small mortgage company as they tend to have a lot of problems.

Feel free to call or email me if you’d like the name and number of my trusted lender. I’ve been a real estate broke for 25 years and can tell you this person is honest, reliable, and has great rates.

You can contact me at 858-457-KENT or GaryK@GaryKent.com.

THIS WEEK'S FEATURED PROPERTY!
	Beautiful La Jolla Condo BR/BA: 2/2 Sqft: 1,342 Price: $694,900
– La Jolla – Foreclosure! Experience the dream living on La Jolla's Coastline! Steps to water! Offers wonderful floorplan, marble fireplace, eat-in kitchen, wood flooring, balcony off living room, 2nd bedroom & MBR plus covered patio, great for entertaining and enjoying ocean breezes! Plus secure building, wet bar, inside laundry, dual sinks in MBA, 2 underground parking spaces & more! Property Features

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

– Carmel Valley – Foreclosure! End unit townhome in the beautiful “Elysian” complex. Has 2-car garage, central a/c, more! Contact Me
2BR/2.5BA, 1178 sqft
Loaned to 469K >>> To be low 400s?
– 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?
New– Chula Vista / Eastlake – Foreclosure! Desirable Eastlake Greens w/ BR/BA downstairs, central a/c, nice yard, 2-car garage. Contact Me
3BR/3BA, 1377 sqft
Last appraisal @ 419K+ >>> To be low/mid 200s?
New– Chula Vista – Foreclosure! Upgraded condo w/ 1BR downstairs. Ideal first home or cashflow rental. Contact Me
3BR/2BA, 1296 sqft
Last sold @ 354K >>> To be mid-100s?
– 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?
New– East San Diego – Foreclosure! City Heights bungalow-style house built 1924, but renovated 1974. More info to follow. Contact Me
4BR/2.5BA, 2006 sqft
Loaned to 537K >>> To be high 200s?
– 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?
– 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! 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
– 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?
– 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!)

Breathtaking ocean views from this one-level oceanfront condo @ 333 Coast Bl. BELOW MARKET!

2 Bed, 2 Bath 1342 Sqft Price: $694,900 Last sold @ 915K

Spacious home on corner lot w/ 2-car garage, nice yard, quick I-15 access.

4 Bed, 2 Bath 1720 Sqft Price: $415,000 Loaned to 555K

1983-built 1-level home in Trailwood w/ tile roof, a/c, covered patio. Near park.

3 Bed, 2 Bath 1571 Sqft Price: $480,000 Appraised @ 525K+

MORE GREAT HOMES & INVESTMENTS (Your Home Here!)

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: $219,900 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

Charming craftsman w/ huge master suite, updated kitchen, private backyard

3 Bed, 2 Bath 1568 Sqft Price: $215,900 Last sold @ 500k

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

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

Cute, cozy, & affordable top-floor condo in “Pacific Isle”. Ideal starter home or rental.

1 Bed, 1 Bath 547 Sqft Price: $150,000!

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: $1,099,000

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

Fieldstone “Summit” home w/ hrdwd floors, oversize BRs, huge backyard, canyon vu.

4 Bed, 2.5 Bath 2482 Sqft Price: $670,000!

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.