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.
Is It More Expensive to Sell with VA Financing?
Wednesday, 13 March 2013
Question: “I’ve heard it’s more expensive to sell with VA financing. Can you explain?” Answer: Happy to. VA (aka Veteran or G.I.) financing is a government program and has certain rules. Most are to ensure that veterans only buy homes in good condition. The downside is that these rules can cost homesellers and discourage some
- Published in Q&A - Home Financing Questions
Why You Sign the Buyer’s Offer in a Counter-Offer
Tuesday, 12 March 2013
Question: [Question from one of my homeseller-clients who is making a counter-offer to an offer we received.] “Gary, I don’t agree to the buyer’s offer. So why am I supposed to sign it when I make a counter-offer?” Answer: Great question! In a legal sense you are rejecting the offer when you make a counter-offer.
- Published in Q&A - Home Selling Questions
How Are FICO Scores Measured?
Wednesday, 06 March 2013
Question: “I’ve been working again now for 6 months, so my FICO score should be improving…” Answer: While having a job means you have more money to pay your bills, it does not directly impact your FICO or credit score. FICO scores measure 5 things: 35% Payment history 30% Amounts owed (as a % of
- Published in Q&A - Home Financing Questions
Can’t Do a Tax-Deferred Exchange on Your Principal Residence
Tuesday, 05 March 2013
Question: “I’d like to sell my Clairemont condo and buy a little house in P.B. An agent said I could do a tax-deferred exchange and buy another home without paying any taxes. Is that correct?” Answer: A little knowledge can be dangerous. The agent was trying to help, but applied rules for investment property (“tax-deferred
- Published in Q&A - Home Selling Questions
How to Know if You’ll Profit from a Flix-and-Flip
Wednesday, 27 February 2013
Question: “How much under-market do I need to buy a home to make money on a fix-and-flip?” Answer: There’s no simple formula, because of all the variables: Financing Fix-Up Cost Fix-Up Time Added Value Market Time Negotiation Transaction Management Appreciation – Financing – Obviously, you want to get a loan at the lowest cost possible
- Published in Q&A - Home Investing Questions
That Offer You Got in the Mail Could Be a Scam
Tuesday, 26 February 2013
Question: “I just got a letter in the mail from someone who says he wants to buy my home. I’m a little suspicious. Do you think it’s legit?” Answer: Some are legit, others not. While it could be real, often it’s an investor looking to buy your home way under value. A client called me
- Published in Q&A - Home Selling Questions
Can You Avoid Taxes with a Fix-and-Flip?
Wednesday, 20 February 2013
Question: “I’d like to start buying fixer-upper homes and reselling them for profit by exchanging them, so I can avoid taxes…” Answer: I know you’re not asking a question, but I have two important comments for you… #1: There is HEAVY competition for “fix/flip” properties like you want to buy. Last week a man came
- Published in Q&A - Home Investing Questions