Question: “We plan to sell our home and get it on the market in the next few weeks. What’s the first step, getting an appraisal?” Answer: You certainly can get an appraisal, but you’ll be shelling out $500 for what your agent will do for free. Basically, your steps are: Find a good agent Determine

Question: “How long does a homebuyer have to inspect a home?” Answer: That’s a good question, but a more complete question to ask is: “How long does a buyer have to inspect and investigate a home and, depending on what they find, either cancel or request from the seller a credit or repair?” That’s because

This week’s crazy building is the Crooked House in South Staffordshire, England. Built as a farmhouse way back in 1765, the Crooked House didn’t become crooked right away. During the late 1800s, nearby mining caused the land beneath to start gradually sinking. Now one side of the building is four feet lower than the other! In

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Question: “Two questions. I’ve heard that every time a banker runs my credit for a mortgage, it actually hurts my credit. Is that true? And does it hurt my credit more to shop several lenders?” Answer: First of all, your credit is only impacted if a mortgage lender actually runs your credit. A conversation won’t

Question: “When I sold my house a few years ago, the buyer requested some repairs. I took care of them, but it was a big hassle. What do you think of crediting the buyer money instead?” Answer: That’s a great idea. While your homebuyer may not like the quality of work done on a repair,

Question: “When you buy a home, does the seller have to bring the home up to current building code?” Answer: No*, thank goodness! Can you imagine the burden if the owner of a home built in 1950 were forced to bring their home to current code? So many people would hang onto their homes rather

This week’s crazy building is the Light Cathedral in Ghent, Belgium. The Light Cathedral was an installation featured at the 2012 Ghent Light Festival. But although this was only a temporary feature of the city’s landscape, it left a lasting memory among those who experienced it. Luminarie de Cagna, an Italian family lighting business dating

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Question: “Hi Gary. I have a question about real estate investing. Can you buy and flip fixer uppers doing a 1031 exchange?” Answer: No. If you buy a property and sell it a short time later without “holding it for investment” a sufficient time (probably 1-2 years), the IRS will likely consider it “dealer property”

Question: “How much are the costs when you sell a home?” Answer: In addition to the real estate fee, you will have: Just under 1% for title insurance, half the escrow fee, county transfer tax, HOA (homeowner association) documents (if any) and other smaller fees. An unknown amount for repairs the buyer requests that you

San Diego’s Changing Housing Market

Tuesday, 07 October 2014 by

Question: “My wife and I were looking for a home a few months ago and gave up. We were tired of making offers and losing out to higher bidders and cash buyers. But I’m seeing a lot more for-sale signs. Do you think the market changed?” Answer: Yes! While most of the media is months