• 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

You and a friend are invited to my upcoming free real estate seminars:

Saturday, February 11th, 2012, 10-noon:
“FORECLOSURE ALTERNATIVES If Your Payment’s Too High, You’re Behind, Or You Owe Too Much To Sell”
Seminar Info (below) / Brochure / Register!

Saturday, March 3rd, 2012, 10-noon:
“HOMEBUYING 101: How To Be A Savvy, Educated Homebuyer”
Seminar Info (below) / Brochure / Register!

...Thank you to Lita M. and Isabelle L. for your kind referrals!

...This Week’s Crazy Building: The Peter B. Lewis Building in Cleveland, OH. If this building could talk, it would say “I’m melting!” Check it Out!

...HELP WANTED: Full-time marketing & admin person to work closely with homesellers, input listings in the MLS, take pictures, gather data for marketing & MLS, write property descriptions, create flyers, maintain listing files, obtain condo info, schedule open houses, oversee receptionist, etc. $15-$16/hour. More info. Send resume to Kevin@GaryKent.com

~Quick Real Estate Tip #131~ Sellers usually, but not always, pay for a homewarranty for a buyer. Typical cost: $250 to $500.

...Become a Facebook Fan of GaryKentTeam on Facebook. Recent post:
“DID YOU KNOW that many online home search sites (Trulia, Zillow, Realtor.com, etc.) list 1000s of homes "for sale" that are actually in escrow? And/or they hide the listing agent's name & direct you to agents who pay to advertise but know nothing about the home that their face randomly shows up next to.”

Secret Realtor Advertising Dictionary, Entry #18: “Near freeways”
Near free-ways - Prep. phrase
1. Backs to freeway.
2. Fronts on freeway.
3. Will soon be condemned to expand the freeway.

Top 10 Most-Googled Housing Markets
In September, a Realtor.com study looked at data for 146 U.S. metro areas to see which were most searched online. Interestingly, cities most affected by the housing crisis drew the most searches. Here are the top 10, with their median list prices (Read More) :

Find Out The Value Of Your Home Or Rental Property FREE
Right Over The Phone
Considering selling? Now you can quickly, easily find out your property value, right over the phone. Tell me about your property and I’ll give you an honest, realistic price. Need a more accurate figure? Ask me to come by. For your free over-the-phone or in-person evaluation, call me at (858)457-KENT. Tell a friend...

Do You Know Anyone Considering A Short Sale?
Call me and/or go to my website www.ShortSaleYourHomeNow.com for info.

Join Our "Preferred Client Group" For The Best Values
We find great real estate deals daily. But too often we can’t match a client and someone scoops it up. So I developed my “Preferred 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 great real estate values, call us at (858)457-KENT or email us at PCG@GaryKent.com.

Check Out Our Foreclosure Hot-List!
Looking for a deal? Many foreclosures have discounts of 10% to 50% off their previous values. Click www.Foreclosure-Hotlist.com to check out my Foreclosure HotList website. Tell a friend!

FREE MLS Online Search For A San Diego Home
Go to www.SanDiegoHomePage.com to search for a home.

This Week's Free Offer:
FREE Guide: "WARNING: Hire No Agent Until You Read This Guide"

The #1 decision when selling is which agent you hire. That impacts your bottom line, timing, legal liability, and even your sanity! Most people have NO CLUE how to choose the right one. Now you’ll discover costly traps people fall into when choosing an agent and how to find the best one. This short, easy-to-read guide tells you:

- The 12 smart questions to ask agents
- 9 dangerous ways people select an agent
- Simple, foolproof guidelines to choosing an agent
- An easy question that quickly weeds out 50% of agents
- Who promises to market your home--and who really delivers?
- How to tell who's great at selling homes & who's exaggerating
- Much more

Send This Free Newsletter To A Friend
Do you find my newsletter useful? Forward this email to a friend or tell them to subscribe at www.garykentteam.com.

Remember to email your questions, comments, compliments, corrections, critiques, & rebuttals to Questions@GaryKent.com.

FREE SEMINAR:
"Foreclosure Alternatives If Your Payment’s Too High, You’re Behind, Or You Owe Too Much To Sell"
UTC Mall – Saturday, February 11th, 2012, 10am-Noon
Click to Reserve Your Free Seat / View Flyer

Good people are in bad situations with mortgages on their homes or rentals. Too many lose because they don’t know their options or slow to take action. Realtor Gary Kent has done 200+ short sales. Ali Tarzi & Community HousingWorks have counseled 4,000+ families. Lender Robert Geiler is an expert on loan & refinance. They’ll clearly explain how to make smart decisions for you and your family.

Come discover what you need to know about all your options & their pros/cons:

- Principal Reduction: Much talk, but do they really happen?
- Short Sale: Millions have done them. Find out if you qualify
- Loan Modification can be a great, but for 2 HUGE drawbacks
- Deed In Lieu Of Foreclosure: Why it’s rarely your best option
- Reinstatement is the simplest solution, but often most difficult
- HARP Refinance: You can do one even if you’re WAY upside down
- Servicemembers Civil Relief Act: Active military must know this!
- Bankruptcy: a short- or long-term solution or no solution at all?
- Forbearance/Repayment Plan: Will that option work for you?
- Sell: Should you? Can you? There’s much you need to know
- Foreclosure: Is it ever the best outcome? Yes, for some...
- How soon can you buy after a short sale or foreclosure?
- Are you eligible for $3,000+ “relocation assistance”?
- Short sale: What hurts your credit will shock you
- Why short sales are better than foreclosure
- Will a short sale delay/prevent foreclosure?
- Can your lender go after you for their loss?
- Do you pay anything to do a short sale?
- Cut your short sale time by 1/3 to 1/2!
- Why so many loan modifications fail
- What about “strategic default”?

FREE SEMINAR:
"HOMEBUYING 101: How To Be A Savvy, Educated Homebuyer Sell"
UTC Mall - Saturday, March 3, 2012, 10am-Noon
Click to Reserve Your Free Seat / View Flyer

There’s SO much to know about buying a home, be it your 1st or 10th. Either educate yourself or depend on luck and the goodwill of strangers. Knowledge is the difference between buying your dream home at the right price...or overpaying for a “money pit” of problems. Get inside info smart Realtors and savvy investors know and use. You’ll learn from three pros: 27-year Realtor Gary Kent, loan expert Robert Geiler, and home inspector Rich Zak.

When You Attend, You'll Discover:

- 10 common homebuying mistakes & how to avoid them
- Get the seller to pay EVERY PENNY of your closing costs
- What 200K/300K/400K/500K buys in 10 SD neighborhoods
- I bought 7 properties in 2 years. Learn my easy 5-step method
- What home inspectors DO & DON'T inspect-you’ll be surprised!
- Which hidden home defects cost you a BUNDLE in repair bills?
- Get pre-qualified FREE, on the spot, w/ a free credit report
- #1 mistake people make when looking for a home online
- Short sales: nightmare or opportunity? Which to avoid
- Still a buyer’s market? Are SD prices rising or falling?
- Find out your price range, payments, down payment
- What are your “closing costs” to buy a home
- Step-by-step plan to buy a home in 90 days
- What to know before you buy a foreclosure
- Do online home valuation websites work?
- #1 dumb mistake when making an offer
- How to avoid OVERpaying for a home
- The 3 best, most popular home loans
- Know this before you buy a condo!
- Free access to foreclosed homes
- How much should you offer?

"I can only afford a 2-bedroom house, but I’m afraid to buy a 2-bedroom because they’re hard to sell... "

Answer:

Certainly, there’s greater demand for 3BR and 4BR houses than 2BRs. But that’s already reflected in the price.

I’ve found a correctly-priced 2BR house is no harder to sell than a correctly-priced 3BR or 4BR.

There’s little difference between paying market value for a 2BR now and selling it for market value in, say, 5 years...than doing the same thing with a 3BR home.

So if you can only afford a 2BR house AND a 2BR house works for you, go for it. Don’t wait for prices or interest rates to go up.

Home Selling Question

"I put my rental on Craigslist and got a response. It was from a real estate investor who says he’s interested in my property. He asked if I’d lease it to him with an option to purchase. What are your thoughts?"

Answer:

This is “sort of” a scam.

I say “sort of” because this person may or may not actually lie or mislead anyone.

But this is a strategy taught at get-rich-quick weekend real estate seminars. And those seminars obviously aren’t looking out for the homeowner.

For this to be profitable for him, he has to lease it well under market rent and negotiate an option price well under market value.

And of course, even though he says he’s interested in YOUR property, the truth is he’s sending mass blind emails and knows little or nothing about your specific property.

So unless you want to under-rent and under-sell your property, I’d steer clear of him.

"I’m looking for rental property with a 10% cap rate. What do you suggest?"

Answer:

(If you’re not familiar with what a cap rate is, I’ll explain below.)

I suggest you lower the cap rate you’re looking for! A 10% cap rate is not realistic, at least in San Diego.

Depending on the neighborhood and type of property, you should expect a 4-7% cap rate.

As promised...what’s a “cap rate”?

Cap rate is short for “capitalization rate.” In real estate, it’s the annual net cash return of a property BEFORE paying the mortgage as a % of the price.

The formula is:

Net Operating Income / Price = Cap Rate

For example, if on 123 Apple Street, the annual income AFTER expenses and BEFORE paying the mortgage is $10,000 and the price is $200,000:

$10,000 / $200,000 = 5% cap rate.

So now you know (if you didn’t already).

Coming Soon - Hot New Properties
(Be first to know when these come available!)

- Carmel Valley - Attractive, well-priced view home on quiet culdesac in The Heights. Large bkyd, 3-car garage, FPL. Contact Me
4BR/2.5BA, 2050 sqft
>>> 789,888
- Chula Vista / Eastlake - Foreclosure! Gorgeous 7yr-new detached home w/ 2-car garage, granite kitchen, FPL, family room. Contact Me
3BR/2.5BA, 1511 sqft
Last sold @ 458K >>> To be high 200s?
- Chula Vista / Eastlake - Foreclosure! Stunning newer luxury home w/ detached "casita", 3-car garage, .45 acres. Contact Me
5BR/4.5BA, 4912 sqft
Last sold @ $1.485M >>> To be low 700s?
- Clairemont - Handsome home on quiet culdesac, offers large lot, detached office or "man cave", and more. Contact Me
5BR/2.5BA, 1574 sqft
>>> Value Range $399,000
- Clairemont - Spectacular 1.12 acre lot w/ amazing canyon, valley, city, mountain, nitelite views! Large 1-level home. Contact Me
4-5BR/3BA, 2020 sqft
>>> Value Range $490,000 to $525,000
- Clairemont - Short sale! Stunning remodeled home w/ great canyon view. 3 minutes to Mission Bay and I-5. Contact Me
3BR/1BA, 1029 sqft
Last sold @ 425K >>> $370,000
- Encanto - Foreclosure! Handsome 2BR house w/ garage on large 8319sqft lot. Great for investor or 1st-time homebuyer. Contact Me
2BR/1BA, 846 sqft
Loaned to 322K>>> To be mid-100’s?
- La Jolla - Foreclosure! Lovely 1-story family home w/ ocean & sunset views. Quiet street. Walk to UCSD. Contact Me
4BR/3.5BA, 2606 sqft
Loaned to 1.27M>>> To be 900K?
New - La Jolla - Foreclosure! Cute WWII era Birdrock cottage on oversize 6573sqft lot. Ideal as is, or build your McMansion! Contact Me
2BR/1BA, 792 sqft
Last sold @ 1.15M>>> To be 700Ks?
- Mira Mesa - Foreclosure! Affordable upstairs 2BR condo. Great for 1st-time buyer or investor looking for cashflow. Contact Me
2BR/2BA, 897 sqft
Loaned to 245K >>>To be around 175K?
- Normal Heights - Foreclosure! Charming, cozy 1920’s bungalow with picture windows, dining room, & fireplace. Contact Me
3BR/1BA, 880 sqft
Last sold at 455K >>>To be mid-200’s?
- San Carlos - Foreclosure! Spacious 2-story home near San Carlos Golf Course on oversize 8,400 sqft lot. Contact Me
4BR/2BA, 2449 sqft
Loaned to 565K >>>To be 300s?
- Santee - Foreclosure! Upper one-level 3BR “Riderwood Gardens” condo with fireplace, 1-car garage. Contact Me
3BR/2BA, 1144 sqft
Last sold @ 336K >>> To be 130s?
New- University City -Foreclosure! Cute, quiet “Verano” condo remodeled w/ granite, travertine, stainless steel, etc. Contact Me
1BR/1BA, 704 sqft
Last sold @ $332,500>>> To be mid 100s?

NEWLY LISTED (Your Home or Property Here!)

Office/retail on Palm Av. Two 1400sf spaces, can combine into one. 7-9 pkg spaces. Should rent 2K/mo.

2802 sqft / 6098 sqft lot Price: $349,900

MORE GREAT HOMES & INVESTMENTS (Your Home Here!)

Spacious home on ample lot. Near park and elementary school. Priced under market.

4 Bed, 2.5 Bath 2626 sqft Price: $517,200

Cute 2BR house on spacious 6,098 sqft lot w/ lots of room to expand.

2 Bed, 1 Bath 440 sqft Price: $165,000

Commercial corner location on busy street. Zoned "Office Professional". Many possible uses.

Office, 1100 sqft Price: $249,000

Custom luxury home on .86 acre estate. Offers pool, guest house / artist studio, panoramic views, more.

5 Bed, 3 Bath 3590 sqft Price: $654,321 Loaned to 980K!

USD area townhome w/ FPL & 2-car garage, tucked away in a quiet complex.

2 Bed, 2 Bath 1092 sqft Price: $265,900 Loaned to 395K

One-story home + granny flat on full lot. Ideal for first time buyer or investor.

3 Bed, 2 Bath 1118 sqft Price: $209,000 Loaned to @ 430K!

Remodeled resort-style home on huge .29 acre flat double lot. Offers pool, 3-car garage, jacuzzi tub, more.

3 Bed, 2.5 Bath 2258 sqft Price: $871,500

Cute little condo for beach lover, first time buyer, or investor. Some views & nice features.

2 Bed, 2 Bath 675 sqft Price: $199,900 Loaned to 260K

Jaw-dropping, unobstructable bay/ city/ fireworks/ nightlight views from this charming mid-century home!

4 Bed, 2 Bath 1912 sqft Price: $775,000 to $850,000

Restored craftsman home with all its original charm. Has San Diego Bay views, hardwood flrs, granite, RV pkg.

2 Bed, 1.5 Bath 806 sqft Price: $569,000

12-year-new home w/ cathedral ceilings, hickory wood floors, pool-size yard, & more. No Mello Roos!

4 Bed, 2.5 Bath 1998 sqft Price: $605,000

Dream family home on premium .5 acre lot. 200K recent remodel, dazzling kitchen, more!

4 Bed, 3 Bath 3133 sqft Price: $995,000 Last sold @ 425K

APPROVED short sale! Spacious townhome w/ garage, w/in walking distance to UTC, restaurants.

3 Bed, 2 Bath 1376 sqft Price: $334,900

Referring a friend or someone you care about is the highest compliment you can give me. Thank you for all of your generous referrals!

Have a great week,

GARY KENT "The Agent You See EVERYWHERE"
The Real Estate Team You See Everywhere
27 Years Experience -- 4,300+ Homes Sold

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 Keller Williams Realty harmless. Questions may be paraphrased for clarity/brevity. Disregard this email if you have a listing or buyer-broker agreement.

Copyright 2012 Gary Kent, All Rights Reserved.