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• 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
I hope you and your family had a great Thanksgiving and you’re recovering from a possible turkey-induced coma. Thanks for taking time out of your busy day to tune in.

…Do you have a Wachovia first loan on your home? Do you owe too much and need to do a short sale? If so, Wachovia may pay you up to $2,000 in “relocation assistance” at closing. They’ve also streamlined their process and are giving quick responses. If you’re interested in selling, call me at 858-457-5368.

…Have you or a friend signed up yet for one or more of my free seminars coming early next year?

• Saturday, January 16th, 10am-noon
  “How to Invest in Real Estate with Your IRA or 401K”



• Saturday, January 30th, 10am-noon
  “How to Short Sale Your Home or Rental”



• Saturday, January 30th, 1-3pm
  “How to Improve Your Credit & Buy A Home”



• Saturday, February 6th, 10am-noon
  “How to Buy a Foreclosure or Short Sale in San Diego”

…Trend I’m Seeing, #1: I’m hearing story after story of banks taking FOREVER to even start foreclosure. I’m talking 3, 6, even 11 months. Then once they start, the banks often drag their feet and postpone the foreclosure sale a few times. Lots of theories for why, which I’ll share in another newsletter.

…Trend I’m Seeing, #2: I’m seeing more people do “Strategic Defaults”. They could pay their mortgage, but choose not to because they’re too far upside down and would rather jettison the debt. Many say the bank will let them stay rent-free for a year or more anyway (Trend #1).

…Nicholas Cage is in the news recently with financial and IRS problems. He also just lost two of his New Orleans homes to foreclosure. No worries though, he still owns close to 20 homes. Read more.

…Silverdome sells for $583,000? The former home of the Detroit Lions in Pontiac, Michigan is under contract for the price of a semi-luxury condo in downtown San Diego. The 80,300-seat stadium and 127 surrounding acres were costing the city of Pontiac 1.5M/year to maintain the stadium. For $583,000, they should have thrown in the Lions.

…This Week’s Crazy House: Looks like a Hobbit should live in Barcelona Spain’s “Mind House”

…Follow me on Twitter or become a Facebook Fan.

True Story: Aren’t You Glad You Paid For This?
A reader shares this story: A friend saw their adjustable loan payment jump. Desperate, they came to him for advice. He suggested they ask their bank for a loan modification. Indeed, the bank lowered their payment from $4000 to $1500/mo. What did they do to celebrate? They bought a brand new Cadillac Escalade! Aren’t you glad your tax dollars paid for their loan modification thru TARP money and federal incentives to banks?

Quick Real Estate Tip #17
Home-shopping & found a STEAL? It’s probably a short sale and you’ll never get it that cheap. After the bank processes the short sale, they’ll likely want a higher pric

CORRECTION: Last week’s article listing the 10 best predicted U.S. housing markets at one point said “worst”. So I’ve reprinted that, along with the 10 worst…

Top 10 Worst Predicted U.S. Housing Markets
Local Market Monitor looked at U.S. housing markets with a population greater than 600,000 and made these predictions for the coming year. These markets are predicted to have the worst performance in home prices:

1.-- Fresno, CA
2.-- Las Vegas-Paradise, NV
3.-- Miami-Miami Beach-Kendall, FL
4.-- Orlando-Kissimmee, FL
5.-- Phoenix-Mesa-Scottsdale, AZ
6.-- Portland-Vancouver-Beaverton, OR/WA
7.-- San Jose-Sunnyvale-Santa Clara, CA
8.-- Stockton, CA
9.-- Tacoma, WA
10.- Tucson, AZ

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.

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

"My fiancé and I have been looking for our first home for 4 months. We finally found a house in our budget we both agree on. The bad news is it's on a busy street, which makes us hesitant about buying it. What do you advise?"

Answer:
Buying a home on a busy street, or with any other negative, is fine provided the price reflects it.

My informal, unscientific studies and 20 years of experience tell me that a busy street impacts the value of a home by 3% to 10%, depending on how busy and how close the house is to the street.

Good luck...

"I own a condo and am thinking of selling it versus holding it for awhile. It’s worth about $300,000 and I owe $314,000. Do you see a turn around in the market anytime in the future?"

Answer:
My crystal ball is cloudy today.

With all the government involvement, the market is not following normal cycles and is thus unpredictable.

But if the market does follow its current trend, your value should exceed your loan balance some time next year.

On the other hand, I’ve heard there may be more foreclosures hitting the market in a couple of months.

But on the OTHER other hand, I’ve been hearing THAT for a year.

So it’s basically a crap shoot.

"It seems that interest rates and ability to get a home loan are more credit-driven than ever. Everyone talks about credit and I know it’s about paying your bills. But what exactly makes up a credit score?"

Answer:
There are 5 “Components of Credit”. Here they are, along with their %’s as they make up your credit score:

10% Mix of credit
10% Credit inquiries
15% Length of your account histories
30% Debt ratio: revolving account balances divided by the limits
35% Past delinquencies

Source: Credit repair/improvement expert Derrick Evens of Perfect Credentials,
858-571-0271.

THIS WEEK'S FEATURED PROPERTY!
	Desirable Eastlake / Chula Vista Home BR/BA: 3/3 Sqft: 1377 Price: $329,800
– Chula Vista / Eastlake – Foreclosure! Desirable Eastlake Greens w/ BR/BA downstairs, central a/c, nice yard, 2-car garage. 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?
– 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?
– Chula Vista / Eastlake – Foreclosure! Spectacular 5-year-new home w/ mahogany flooring, granite, slate, family room. Contact Me
5BR/3.5BA, 2382 sqft
Last sold @ 524K >>> To be high-300s?
– 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?
– City Heights/ESD – Foreclosure! Spanish duplex, could be used as 3BR/2BA single family home. Red tile roof, garage. Contact Me
2BR+Studio duplex
Loans to 461K >>> To be high 100s?
– Clairemont – Short Sale! Quiet, updated 3BR/2BA townhome w/ garage, yard, FPL, balcony. Quick freeway access. Contact Me
3BR/2BA, 1209 sqft
Last sold @ $352,500 >>> Now $225,000!
– Clairemont – Foreclosure! Handsome 1975-built 2-story “Mount Street” home on .26 acres, culdesac, sunroom, nice yard. Contact Me
5BR/2.5BA, 2259sqft
Last sold @ $639,500 >>> To be high 400s?
– 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 / 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?
– Paradise Hills – Foreclosure! Cute “Villa Bonita” condo, ideal 1st home or rental. Complex has tennis, fitness center, pool. Contact Me
1BR/1BA, 675 sqft
Last sold @ 115K >>> To be 75K?
– 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 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 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! 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!)

Lovely 7-year-old Lomas Verdes house w/ 2-car garage in Otay Mesa.

4 Bed, 2.5 Bath 2116 Sqft Price: $375,000

Desirable Eastlake Greens w/ BR/BA downstairs, central a/c, nice yard, 2-car garage.

3 Bed, 3 Bath Sqft: 1377 Price: $329,800 Last appraisal @ 419K+

Brand new 2009 construction, re-built virtually from the ground up. Extreme high quality: granite, etc.

4 Bed, 2 Bath 1680 Sqft Price: $368,000

Upgraded 1-level condo w/ granite in security building. Ideal for 1st-time buyer or investor.

2 Bed, 2 Bath 892 Sqft Price: $150,000 Last sold @ 300K

Culdesac home w/ panoramic views, ocean breezes, FPL, RV parking, 2-car garage, more.

3 Bed, 1.5 Bath 2424 Sqft Price: $280,000 Loaned to 424K

MORE GREAT HOMES & INVESTMENTS (Your Home Here!)

Each unit has garage & nice yard. New paint & carpet! Walk to dining, movies, shopping.

2BD/BR 1BD/1BR Duplex Price: $374,800. Last sold @ 555K

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

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

Stunning 6-year-new home in gated “Westcliffe” on culdesac w/ panoramic views.

5 Bed, 4.5 Bath 4302 Sqft Price: $859,900 Loaned to @ $919,000

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

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

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.