• 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
By now you probably heard that the Homebuyer Tax Credit was extended and expanded. Here are the particulars:

• - $8000 to first time homebuyers (haven’t owned for 3 years)
• - $6500 to homebuyers who aren’t first-timers
• - Must buy a primary residence
• - Applies to homes up to $800,000
• - Must sign contract to buy home by 4/30/10
• - Must close by 6/30/10
• - Must stay in the home for 3+ years
• - Income limits are $125,000 for a single or $225,000 for a couple. Credits are phased out over these limits

…Be sure to sign up &/or tell a friend about my four upcoming free real estate seminars.

…Okay, this sounds like a typical Realtor sales talk, but hear me out: Between now and 1/1/10 may be a great window to buy a home, especially if you’re buying under 600K. Here’s why:

• 1. Many homebuyers take a vacation from home-shopping during the holidays, leaving you less competition.



• 2. Anyone with their home for sale during the holidays is going to be more motivated, on average.



• 3. The BIG reason: There was a huge rush to buy before the 8K First-Time Homebuyer Tax Credit expired 11/30/09. It was extended, but much demand was used up in the rush to meet the deadline. I expect some of the “Post Cash-For-Clunkers Empty Showroom Syndrome” that slowed down car sales – even though the credit was extended.



• Just my opinion…but I’m looking to buy an investment property, so I’m putting my money where my mouth is.

…This Week’s Crazy Building: OK, so we’ve seen crazier. But the Manchester Civil Justice Centre in Manchester England is definitely an interesting building.

…Follow me on Twitter or become a Facebook Fan.

True Story: How I Met Your Mother?
An agent in Los Angeles was trying to talk with the occupant of a foreclosed home. The man became angry and actually pulled a gun on her and chased her down the street. Somehow she was able to calm him down. He put the gun away and apologized and was willing to listen to reason. After some discussion…he asked her out to dinner. She (very) politely declined.

Quick Real Estate Tip #15
Buying Fannie Mae foreclosure as an investment? For 90 days from closing you can't sell or refi for over 120% of your purchase price.

Do Websites Claiming To Calculate Your Home Value Actually Work?
I selected five random homes sold the last 30 days. I then checked the three most popular home evaluation websites to see what values they came up with. The results were startling! Here’s what the homes sold for and what these sites said they’re worth:

The sites were off a whopping 43.2% on average. And they weren’t consistently high or low. They were consistently INconsistent: high, low, and occasionally (Mission Hills house) almost accurate.

I’m tempted to say that technology will never replace a skilled Realtor in determining value. But experts also said man couldn’t fly and that TV would never become popular…

Top 10 World’s Tallest Cities
Today, Dubai is home to the world's tallest tower, the 2,684-foot Burj Dubai was topped off in January of this year. It’s the world's tallest building by 1,000 feet. But Dubai is only the third-tallest city. According to a story on Forbes.com, there are the 10 tallest cities in the world:

1.-- New York
2.-- Hong Kong
3.-- Dubai, United Arab Emirates
4.-- Shanghai, China
5.-- Chicago, IL
6.-- Shenzhen, China
7.-- Tokyo, Japan
8.-- Houston, TX
9.-- Singapore
10.- Los Angeles, CA

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 Guide: "How To Buy A Home In San Diego"
Knowledge + Action = Power. So expand your knowledge, take some action, & order this free guide. Updated for 2009. You'll discover:
- What you need to know about buying an REO or short sale
- Step-by-step, how to find the right home & best loan
- Determining how much home you can afford
- Why you may NOT be pre-approved even if you think you are
- Key tips on buying foreclosures
- If a real estate agent does this, RUN!
- An easy strategy to persuade owners to sell you their home for $1,000s less
- 5 things you MUST ask your lender before you sign anything
- 6 smart house-hunting tips
- 7 questions to ask BEFORE you make your offer
- Other homebuying secrets that may surprise you!

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.

FOUR different free seminars for you, family, &/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 made an offer to buy a condo in La Jolla and lost out because I found out the seller’s agent told someone how much I offered. My agent said it’s called ‘shopping my offer’ and that it’s illegal. What can I do about this?"

Answer:
Nothing. Your agent is wrong.

The seller’s agent owes you no legal duty of confidentiality. So the agent has no liability to you for shopping your offer.

"Hi Gary. We'll be selling our condo in La Jolla next month. We know the comps say it's around 700K, but we'd like to shoot for 725-750K. We're not in a rush and are willing to hold out even if it takes several months to sell. How long should we expect it to be on the market?"

Answer:
I hear this all the time and find it, well, puzzling.

How does "not being in a rush" actually increase the value of your home? Sure, you'd likely sell for less if you were under time pressure.

But the opposite isn't the case. You don't get a higher price just by waiting (unless you're in a highly appreciating market and the market rises to your price over time).

In fact, studies show the longer a home is on the market, on average the LOWER the final price.

Why?

Because it no longer has the "new home on the market" buzz. And with time agents and homebuyers start to wonder what's wrong with the home and figure the seller is getting more motivated and willing to deal.

The moral is to price it right from the beginning and to generate the most interest when it's the new home on the market.

"We're beginners in the homebuying game. Can you give us some tips on deciding how much to spend on our monthly mortgage payment?"

Answer:
I want you to come up with 2 monthly payment figures.

They should include loan payment, taxes, insurance, and possible HOA fees, Mello-Roos fees, or mortgage insurance. Be sure to factor in that loan interest and property taxes are tax deductible.

Here are the 2 figures to come up with:

1. __________ = Monthly payment you can comfortably afford.
2. __________ = Monthly payment you'd live with if you find a pricier home you're absolutely crazy about. This payment should NOT be so high it puts you at financial risk.

Why #2? The best homes sell fast. If your dream home costs a few extra bucks, I want you to know up front if you're going to let it go, or go for it.

Then go talk with a great lender (call me at 858-457-KENT to get in touch with the GREAT lender we use) to find out what price home those payments correspond to and make sure you qualify.

THIS WEEK'S FEATURED PROPERTY!
	Beachfront Penthouse In Pacific Beach BR/BA: 2/2 Sqft: 1,100 Price: $1,175,000
– La Jolla – 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! Contact Me

Coming Soon
(Be first to know when these come available!)

– 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! Affordable “Eastlake Shores” house w/ 2-car garage, nice yard. Contact Me
2BR/2BA, 1012 sqft
Last sold @ 470K >>> To be mid-200s?
– 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?
– 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– Downtown – Foreclosure! 2-year new “Park Terrace” 6th floor unit next to Petco Park. Offers city & Petco Park views. Contact Me
2BR/2BA, 1017 sqft
Last sold @ 595K >>> To be 400K?
– 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!)

End unit townhome in the beautiful “Elysian” complex. Has 2-car garage, central a/c, more!

2 Bed, 2.5 Bath 1178 Sqft Price: $409,900 Loaned to 469K

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: $169,900 Recently sold @ 468K

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

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: $500,000 to $550,000

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

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+

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.

4 Bed, 2.5 Bath 2748 Sqft Price: $439,000 Last sold @ 740K

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.