Licensed since 1984, San Diego real estate broker Gary Kent is a recognized authority on real estate. In addition to selling over 5,500 homes for clients, he has been an expert court witness, trainer of other agents, and he does seminars on home buying, home selling, and investing. Gary has sold homes for The Salvation Army, dozens of major banks, and Fannie Mae, amongst others. You can find Gary on Facebook, Instagram and YouTube.

I need some refinance advice:

I need some refinance advice: When I bought my home in East San Diego two years ago, I had marginal credit and had to pay a higher rate. Now my credit score is way up and I’m thinking of refinancing for a lower rate. Do you agree with the ‘2% rule’ that says you should
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Value Range Pricing

Value Range Pricing: “I don’t agree with this whole value range pricing idea. It just doesn’t make any sense. No one’s ever going to pay any more than the bottom. I’d never sell my San Diego home with it.” ***ANSWER: I’m with you. And while we’re at it, I don’t agree with this whole electricity
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Open House Tips

“When I was a kid in the 60’s, my dad was in the navy and we moved a lot. When we sold a home, my mom baked bread when people were coming to look. The whole house smelled great and my folks said it helped with the sale. Now I’ll be selling soon, but I
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What does Mortgage Insurance pay for?

What does Mortgage Insurance pay for? Mortgage insurance is generally required for home loans with a “loan-to-value” ratio of over 80%. The insurance protects the lender (NOT you) should you lose your home to foreclosure. Now, to avoid paying high mortgage insurance premiums, “80-20” loans are becoming very common. A lender makes a 80% loan-to-value
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Cracked Slabs

What about cracked slabs? “I saw a home I loved in West Clairemont, but there was a crack in the slab. Should I avoid buying a home with a cracked slab?” ***ANSWER: Some cracks are very serious and cost thousands, tens of thousands, or even hundreds of thousands to fix correctly. Other cracks are more
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Mortgage Payments Question

We’re beginners in the San Diego home buying 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
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1031 Tax Deferred Exchange

“Hi Gary. I have 24 apartments in City Heights. They’ve been a headache lately and I’d like to get out of them into something else. Is it true that you have to buy up to do a 1031 exchange?” ***ANSWER: Almost. While you do have to buy up to do a full deferral, just buying
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Cap Rate VS. Gross Rent Multiplier

Cap Rate vs. Gross Rent Multiplier “What’s the difference between a cap rate and the gross rent multiplier?” ***ANSWER: Cap rate is the opposite of a price/earnings ratio, used with stocks. Here are some random cap rates and GRMs in San Diego: CapGRM Area 415 Pacific Beach 513 North Park 5.312 El Cajon As you
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Home Pricing Advice

Home Pricing Advice “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 willing to hold out even if it takes several months to sell. How long should we expect it to be on the market?” ***ANSWER:
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Discount Brokers

Discount Brokers “What’s this I see around San Diego about 1% and 2.5% real estate fees to sell a home. I know they’re discount brokers and don’t do very much, but how can they charge so little and stay in business?” ***ANSWER: Many of them don’t. There’s a real revolving door of these reduced service
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