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.
Adjusting the Comps on Your San Diego Home
Tuesday, 09 April 2013
Question: [Email from someone wanting to price a one-story home.] “After looking at the comps, only property #5 seems comparable enough to be relevant. None of the others are single story. ” Answer: Indeed, the more comparable the “comps,” the better. So it would be preferable if we had more one-story comps to use, but
- Published in Q&A - Home Selling Questions
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Unfinished Features Can Create Problems with the Sale
Wednesday, 03 April 2013
Question: “We’re buying a home and the owner is in the middle of redoing the kitchen. He started the demo work (sink, counters, some cabinets) but not the actual remodel. We’re getting a good deal because we said we’d take the kitchen as is. Will that create any problem with the sale?” Answer: If you’re
- Published in Q&A - Home Financing Questions
When Do “Comps” Become Too Dated for Your San Diego Home?
Tuesday, 02 April 2013
Question: “At what point do ‘comps’ become so dated as not to be relevant to figuring out what a home is worth?” Answer: There’s no specific time period. Especially in a rising (or falling) market, the more recent the better. I try to go back three (preferred) to six months. In rare cases, I look
- Published in Q&A - Home Selling Questions
Does One Fix-and-Flipper Ever Sell to Another?
Wednesday, 27 March 2013
Question: “I was reading some discussion of how prevalent flipping houses is now. Do houses ever get bought by people looking to “flip,” who then upgrade them and sell them to other people looking to flip, who then upgrade them again?” Answer: Rarely. Most house flippers typically operate on minimum profit margins. If you add
- Published in Q&A - Home Investing Questions
How Much to Reduce the Price on Your San Diego Home
Tuesday, 26 March 2013
Question: “I’m asking $799,000 for my mother’s house, but getting no action. What do you think of a reduction to $789,000? Is that enough?” Answer: As a general rule, if your home has been listed for a few weeks and getting low activity, you need to adjust 3-5% to see a noticeable increase in interest.
- Published in Q&A - Home Selling Questions, Real Estate Tips
Investing in 4 Houses vs. a Fourplex
Thursday, 21 March 2013
Question: “Which makes more sense as an investment, buying 4 houses or buying a 4plex?” Answer: That’s a great question. I own several fourplexes myself. I’d go for the fourplex because it should give you better cashflow and is easier to manage than 4 separate houses.
- Published in Q&A - Home Investing Questions
Will a Bank That Turned Down a Loan Mod Approve a Short Sale?
Wednesday, 20 March 2013
Question: “My bank turned me down for a loan modification. Does that mean they’ll probably turn me down for a short sale too?” Answer: Good news. The answer is “no.” Short sales and loan modifications are handled by two separate departments at the bank. Their criteria for approval are different. Yes, both generally require some
- Published in Q&A - Home Selling Questions, Short Sale