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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
Wishing all my friends and readers a happy Easter and a great Passover.

…Can you double-dip the existing federal & new California tax credits? See below…

…Just listed a Chula Vista condo that should sell around just 25% of the price it sold for in 2004!

You and a friend are invited to my free seminar Saturday, April 10th, 10-noon, “How to Buy A Foreclosure Or Short Sale In San Diego”. Click to reserve your seats.

…Two more upcoming free seminars:

• Saturday, April 10th, 10am-noon
  “How to Buy A Foreclosure Or Short Sale In San Diego”



• Saturday, April 24th, 10am-noon
  “How to Sell Your Home For Top Dollar in 2010”

…This Week’s Crazy Building: “Dome House” in Florida. Kind of retro-futuristic…

…Follow me on Twitter or become a Facebook Fan.

…JOB OPENING for part-time internet wiz kid (or adult). Are you familiar with html, seo, sem, social marketing? Do you know DreamWeaver, Photoshop, Facebook, Twitter? We need you for varied internet marketing projects to promote our websites, produce this weekly Q&A, and other tasks. More info

Governator Signs California Homebuyer Tax Credit Bill
Governor Schwarzenegger last week signed an extension to AB183, for $200M in homebuyer tax credits: $100M for first-time home buyers who buy existing homes and $100M for buyers of new construction homes.

Eligible taxpayers get the credit if they close on a qualified principal residence between 5/1/10 and 12/31/10, or before 8/1/11 pursuant to an enforceable contract executed on or before 12/31/10.

This credit is the lesser of 5% of the price or $10,000. It’s taken in equal installments over three consecutive years. Buyers must live in the home as their principal residence for at least two years or forfeit the credit (i.e. repay it to the state). Buyers must be 18 or older and unrelated to the seller. First-time buyers are defined not having owned a home in the past three years. More info

Can You Double-Dip The Existing Federal & Brand-New California Homebuyer Tax Credits?
It looks to me like you can, if you comply with the deadlines. For the $6500/$8000 federal tax credit, you must have a signed contract by 4/30/10 and close by 6/30/10. For the state credit, you must close after 5/1/10. Putting them together, have a signed contract by 4/30/10 and close between 5/1/10 and 6/30/10 and you’ve got yourself both credits...unless I’m missing something. Consult your tax advisor to confirm.

New Study Shows Zillow Not Accurate On Home Value
I’ve been saying for years: Don’t depend on Zillow to tell you what your home is worth! A study by the University of Texas at San Antonio shows Zillow to be no more accurate than homeowners at determining a home’s value. I routinely see Zillow’s so-called “Zestimates” high or low by 10%, 20%, or more.

Quick Real Estate Tip #36
Buying a home? Here’s a free way to make your offer stronger: write a deposit check for 2-3% or more of the sales price. Small deposits look weak. Big ones show you’re serious.

Top 10 States w/ Highest % of Homes w/ Negative Equity
Underwater mortgages are on the rise. First American CoreLogic reports that 23.8% of all U.S. homes with mortgages had negative equity (i.e. loans exceeded value) at the end of 2009. Here are the top 10 states with the highest percentage of underwater mortgages:

Percent State-----
69.9% Nevada
51.3% Arizona
47.8% Florida
38.5% Michigan
35.1% California
27.8% Georgia
24.3% Virginia
22.9% Maryland
22.7% Idaho
21.1% Utah
Read more: First American Core Logic negative equity report

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 can't 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 DVD: How To Sell Your Home & Buy Another
There's 5 ways to coordinate buying a home while selling your old one. One is best. Another's a recipe for disaster. Discover the pros and cons of each + smart buying & selling tips. This DVD is a must if you're making a move in the next 12 months. You'll learn: - Which of the 5 strategies works best for YOUR needs
- Don't be forced to give your home away for a quick sale
- The $5,000-$50,000 trap in the small print most people overlook
- Pricing to get top $$ for your home (it’s not what you think!)
- The HUGE MISTAKE agents make when juggling 2 closings
- Find out what your home will REALLY sell for in today's market
- How NOT to get stuck paying mortgages on 2 homes
- When is the very best time to list your home?
- Avoid being the "contingent buyer" sellers hate to sell to

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 e-newsletter to a friend.
Just 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, April 10th, 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

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

FREE Seminar
"HOW TO SELL YOUR HOME FOR TOP DOLLAR IN 2010"
UTC Mall – Saturday, April 27th, 10am-Noon
Click for Seminar Flyer / Click to Reserve Your Free Seat

When you attend, you'll discover:

• - Market forecast: What’s you can expect in 2010
• - “Value Range Pricing” explained...can it get you a higher price?
• - How to tell if a broker is honest…or B.S.ing you to sign a listing
• - Find out how much higher your buyer will pay—this only works half the time, but when it does…!
• - This one document can protect you & make your sale smoother …and why 99% of agents don’t use it
• - Price your home to get more offers & more money in less time (it’s the opposite of what people think)
• - The oldest real estate agent trick in the book—don’t be fooled
• - How some agents sabotage their clients & cost them $1,000's
• - Avoid the common trap of paying 3 times for the same repair!
• - 3 likely reasons your sale may fall thru & how to avoid them
• - The truth: why it’s 100% irrelevant which company you hire
• - Creatively turn your home’s biggest drawback into a benefit
• - Sell your home tax-free after 2 years using IRS Code 121
• - 10 Interview questions so you choose the best Realtor
• - How to handle multiple offers so you get the most $$
• - Spend peanuts & boost your home value by $1,000s
• - Should you—and CAN you—sell your home “as is”?
• - How to REALLY know if your buyer is qualified
• - 5 dumb avoidable mistakes sellers make
• - When is the best time to list your home?
• - How to stay out of court & not get sued

"Perhaps you can help settle an argument. I want to buy a nice condo in a safe area, but my husband wants a house, even if it's a little dump in a slummy area. He says he'd never buy a condo because they just keep jacking up the fees and the fees are a waste of money. Do you advise buying houses over condos?"

Answer:
This "they" that your husband says "keep jacking up the fees" are actually fellow homeowners on the Homeowner's Association Board. They don't profit if fees go up. They pay them just like you, so they're motivated to keep them as low as possible.

And of course, depending on the development, HOA fees benefit you by paying for your common areas, hot water, trash pick-up, exterior maintenance including roofs, cable TV, etc.

I don't have blanket advice for clients of choosing a house over a condo, or vice-versa. The choice of a house or a condo is a personal one.

"Gary. My wife and I really enjoy your newsletter. Question- Why typically do home sales fall through? We're curious for when we sell our home next year."

Answer:
Based on my 26 years and 4,000+ home sales, here are the reasons home sales fall through, in approximate order:

• Buyer gets cold feet or finds another home (usually first few days)
• Buyer's inspections/investigations reveal defects/issues that the seller won't/can’t correct or cause the buyer to no longer want the home
• Buyer doesn’t qualify (this “should” never happen!)
• Low appraisal
• Lender takes too long and seller cancels
• Agents make error, advises client poorly, didn’t explain contract to client, etc.

"My husband and I are trying to get a loan modification and I heard that doing one can hurt your credit. If that’s true, then we may just do a short sale or let the house go as the only reason since we’re going to have our credit damaged anyway. Do you know anything about it?"

Answer:
Here are comments from local credit repair/improvement expert Derrick Evens (858.571.0271, Derrick@PerfectCredentials.com, www.MrCreditEducation.com):

I haven't seen a loan modification do anything to anyone's credit score.  They seem to be only referring to loan modification application through the specific Obama Plan.  I haven't heard of anyone getting that relief directly. 

However, what can happen is, you get a modification with a lower payment, but since the Note you originally signed was for a larger one and you're no longer honoring that, they can still report you as late. 

For example, if your payment was $2500/month and you got it modified for 6 months at $1500... When you made your first payment of $1500, 30 days later you got a 30 day late on your mortgage because you didn't comply with the original note. 

Sometimes, I think this is done unintentionally by the bank, but the problem is, there is no way to fight it since they are technically reporting it legally! 

…FYI: Derrick has a new radio show called MR CREDIT on 1700am Tues-Fri, noon to 1pm.

THIS WEEK'S FEATURED PROPERTY!
	Luxury Home In Point Loma BR/BA: 5/4.5 Sqft: 4,000 Value Range: $2,899,000 - $3,100,000
– Point Loma – An absolute Rare & Exquisite offering in La Playa, Live in Luxury! Unsurpassed Luxury thru-out.Remodeled inside and out! Designer owned. Boasting INCREDIBLE Views from Downtown, Coronado all the way to Mexico. Entertainers will Appreciate the Gourmet Top of the line Kitchen, Imported Travertine compliment the abundant Thomasville Cabintry and Skylights. Gorgeous Brazilian Cherry Floors. You MUST visit in person to experience this "open air" home. Custom designed 1958 home by Ralph Frank. Contact Me

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

– Bay Park – Foreclosure! Nicely upgraded & private home w/ brick FPL, spacious living room. Great location near Mission Bay. Contact Me
3BR/2BA, 1275 sqft
Last sold @ 575K >>> To be 400s?
– Carmel Valley – Foreclosure! 90’s built former “Stone Canyon” model w/ 2-car garage. Contact Me
4BR/2.5BA, 2080 sqft
Loaned to 678K >>> To be 600K?
– Carmel Valley – Foreclosure! Sharp “Cambria” townhome w/ 2-car garage, community pool. Contact Me
2BR/2.5BA, 1203 sqft
Last sold @ 528K >>> To be low 400s?
New– Chula Vista – Foreclosure! Ground-level condo w/ nice patio. Buy approx 25¢ on the dollar from the 2004 price! Contact Me
1BR/1BA, 700 sqft
Last sold @ 250K >>> To be 60s?
– Chula Vista – Foreclosure! Upgraded house in “Windsor View” w/ large enclosed sunroom, 2-car garage, redone kitchen. Contact Me
2BR/2BA, 1372 sqft
Last sold @ 469K >>> 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?
New– Clairemont – Foreclosure! Great starter home w/ garage. Walk to shopping. Contact Me
3BR/1BA, 1018 sqft
Last sold @ 460K >>> To be 300s?
– Clairemont – Foreclosure! Great starter home w/ garage. Walk to shopping. Contact Me
3BR/1BA, 1018 sqft
Last sold @ 460K >>> To be 300s?
– Downtown – Foreclosure! Attractive home on quiet street w/ expanded BRs, new paint & carpet, handsome FPL, 2car garage. Contact Me
4BR/2BA, 1305 sqft
Now $425,000!
– Downtown – Foreclosure! 2005-built 1BR condo in Metrome. One block from Petco and two blocks from the Gaslamp. Contact Me
1BR/1BA, 703sqft
Last sold @ 411K >>> To be 200K?
– Encanto – Foreclosure! Gorgeous 2007-built townhome in beautiful “Montage” with 2-car garage, community pool, more.t Contact Me
2BR/2.5BA, 1452 sqf
Last sold @ 400K >>> To be 200K?
– Encanto – Foreclosure! Great townhome on culdesac in Meadow Run. Offers 2-car garage, bright kitchen, nice backyard. Contact Me
4BR/2.5BA, 1771 sqft
Recently loaned to 465K >>> To be low 200s?
– La Jolla – Foreclosure! Via Tuscana condo w/ granite, cherry cabinets, stainless steel appliances, laundry in unit. Contact Me
1BR/1BA, 506 sqft
Last sold @ $305,000 >>> To be high 100s?
– 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?
– Linda Vista – Foreclosure! Attractive home on quiet culdesac offers FPL, RV parking, newer double-pane windows, great backyard. Contact Me
5BR/3BA, 1539 sqft
Value range $360,000 to $400,000
– Logan Heights – Foreclosure! Affordable 1-story home in urban area, 5 minutes to Petco Park. Great rental or 1st home. Contact Me
2BR/1BA, 1011 sqft
Foreclosed at 398K >>> To be high 100s?
– Logan Heights – Foreclosure! Two units on a 7000 sqft lot w/ alley access, just east of downtown. Contact Me
3/1 + 2/1 duplex
Last sold @ 635K >>> To be mid 200s?
– Nestor – Foreclosure! Ranch-style home w/ 2-car garage, fireplace, good-size backyard. Contact Me
3BR/2BA, 1152 sqft
Last sold @ 395K >>> Price TBD
– Oceanside – Foreclosure! 2004-built Summit Village condo. Minutes to beach, pier, & village. Gated + security garage. Contact Me
3BR/2BA, 1416 sqft
Last sold @ 515K >>> To be high 300s?
– Oceanside – Foreclosure! Luxury end unit townhome w/ attached 2-car garage, vaulted ceilings, many extras. Contact Me
4BR/2BA, 1837 sqft
Loaned to 427,5K >>> To be very high 200s?
– Paradise Hills – Foreclosure! 1971-built 1-level home on large 7000 sqft lot w/ 2-car garage. Contact Me
3BR/2BA, 1174 sqft
Loaned to 328K >>> To be low 200s?
– 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
– Santa Luz – Foreclosure! Premier corner vacant lot w/ SW views adjacent to 13th hole. In the heart of Santa Luz. Contact Me
.67 acres / 29185 sqft
Last sold @ 756K >>> To be 300s/400s?
– University City – Foreclosure! Very affordable 1-level home in prime UC area w/ great schools. Quick 805 & 52 access. Contact Me
3BR/2BA, 1476 sqft
Loans to 547K >>> Around 500K?
– 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!)

Upgraded condo w/ 1BR downstairs. Ideal first home or cashflow rental.

3 Bed, 2 Bath 1296 Sqft Price: $172,000 Last sold @ 354K

Unique end unit, top-floor townhome w/ Brazilian cherry hdwd floors, FPL, garage.

3 Bed, 2 Bath 1264 Sqft Price: $165,000

Remodeled townhome w/ new kitchen, new flooring, FPL, garage. Near UCSD and UTC. Dead-end street.

3 Bed, 2.5 Bath 1245 sqft Price: $380,000

MORE GREAT HOMES & INVESTMENTS (Your Home Here!)

Dramatic 1-level condo w/ great views in prestigious Brittany Towers. Priced below market!

3 Bed, 2 Bath 1866 sqft Price: $599,900 Loaned to 820K

Stunning recent-remodel bay view home w/ travertine, granite, MBR suite w/ huge walkin closet & Jacuzzi tub.

4 Bed, 3.5 Bath 2587 sqft Price: $765,000 to $795,000

Upper end “East Bluff” condo overlooking greenbelt. 2-car garage, interior laundry, FPL.

2 Bed, 2 Bath 942 sqft Price: $389,900

West Clairemont near Bay Ho. Mid-century home w/ big yard, brand new roof, 2-car garage.

3 Bed, 2 Bath 1144 Sqft Price: $436,800 Loans to 535K

Light/bright, well-maintained townhome in quiet complex. Walk to shopping. Quick 805, 163 access.

2 Bed, 1.5 Bath 960 Sqft Price: $239,000

Gorgeous “Hard Rock” condo-hotel suite in the Gaslamp Quarter. “Rock Royalty” service & full hotel amenities.

1 Bed, 1 Bath 459 Sqft Price: $259,000! Last sold @ 589K

Well-maintained “Olive Hills” home on quiet street. Offers mountain views, sharp kitchen, FPL, big family room.

4 Bed, 2 Bath 1,904 Sqft Price: $335,000-$365,000

Custom home w/ front courtyard, private & secluded area, pool + covered patio, views!

3 Bed, 3.5 Bath 2317 Sqft Price: $349,900 Last sold @ 663K

High-end remodeled luxury home w/ spectacular ocean and coastline views! Granite, marble, hardwood bamboo, etc

3 Bed, 2 Bath 2188 Sqft Price: $1.75M

Spacious 2BR view home on 1.14 acres. Needs some fixup. Built 1974.

2 Bed, 2 Bath 1351 sqft Price: Now $220,000 Loaned to 360K

Gorgeous 2-story “Ocean Hills” home w/ views, 3-car garage, vaulted ceilings.

5 Bed, 2.5 Bath 2353 sqft Price: $369,000 Last sold @ 585K

Unique, secluded, woodsy custom home. Fully redone w/ gourmet kitchen, hardwood, more.

7 Bed, 3 Bath 3056 Sqft Price: $569,000

Bargain price for north P.B. home. Remod kitchen w/ granite & walnut. Some views, 2-car garage, FPL.

3 Bed, 2.5 Bath 1717 sqft Price: $500,000 to $550,000

View condo w/ 2-car garage, walk to beach/bay, quaint 4-unit complex.

2 Bed, 2 Bath 955 Sqft Price: $599,900

1975-built 1-level home on .326 acres near Espola Road. Some updating, large yard.

4 Bed, 2 Bath 1785 sqft Price: $430,300 Loaned to 565K

Over-55 community 1-level condo in security building. Garage, patio.

2 Bed, 2 Bath 1016 sqft Price: $179,900 Loaned to 390K

Affordable “Carefree” condo w/ only one common wall. Walk to Mission Trails Park!

2 Bed, 1 Bath 880 sqft Price: To be 100s? Last sold @ 253,500

Affordable “Lake Park Villas” townhome. Near Restaurant Row & multiplex.

2 Bed, 1.5 Bath 957 sqft Price: $129,900 Last sold @ $221,500

Santa Fe Hills home backing to San Elijo Lagoon w/ sweeping nature & water views. 3-car garage, more

4 Bed, 2 Bath 1876 sqft Price: $790,000 to $840,000 Previously appraised @ 644K

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

Turn-key home w/ no Mello-Roos offers sharp kitchen, vaulted ceilings, family room, FPL, nice grassy yard.

4 Bed, 2.5 Bath 1663 sqft Price: $315,000

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 2010 Gary Kent, All Rights Reserved.