Beware Bad Lenders When Buying a San Diego Home
Wednesday, 26 December 2012
Question: “Hi Gary. We’re ready to look for a home and have already talked to a lender, so…” Answer: Careful! Just like there are very nice but very bad Realtors, the same holds true for lenders. I could write 100 pages telling you of all the bad experiences my clients and I have had from
- Published in Q&A - Home Financing Questions
Do Banks Do Short Sales on Reverse Mortgages?
Tuesday, 25 December 2012
Question: “My mother moved to a senior home and we need to sell. She has a reverse mortgage and is upside down. Do banks do short sales on reverse mortgages?” Answer: Yes! Short sales on reverse mortgages are as fast and easy as they get. In fact, we just did one and got the bank’s
- Published in Q&A - Home Selling Questions, Real Estate Tips, Short Sale
Don’t Worry About Deflation When Buying a Rental
Wednesday, 19 December 2012
Question: “I’m a little afraid to buy a rental with everything going on. I’m afraid we’ll have deflation which will push rents down. What do you think?” Answer: I’m by no means an economist, despite a BA in Economics from UCLA. A little knowledge can be dangerous, but I’m willing to share my opinion. The
- Published in Q&A - Home Investing Questions
Hard to Find Your San Diego Home Value Online
Tuesday, 18 December 2012
Question: “Which website do you recommend to find out a home’s value?” Answer: Two types of websites purport to tell you your home value online: 1) automated; 2) agent/referral. Automated sites use complex but flawed software to calculate values. However the values they tell you are typically far from correct. This is due to incomplete/inaccurate
- Published in Q&A - Home Selling Questions
What Is Debt Coverage Ratio?
Wednesday, 12 December 2012
Question: “I’m a small-time real estate investor. I have a couple of rental condos in Mira Mesa and North Park, but I’d like to trade into an apartment building. I’ve been talking with people and asking a lot of questions. There’s a term I’ve heard called debt coverage ratio. What is that?” Answer: You’re getting
- Published in Q&A - Home Investing Questions, San Diego
What Should You Expect to Pay for Rentback?
Tuesday, 11 December 2012
Question: “Hi Gary. My wife and I have an offer and are closing quickly this year for tax reasons. We want to rent the house back for 30 days. What rent should we expect to pay?” Answer: Because rentbacks are usually requested by the seller, the typical practice is for the seller to pay the
- Published in Q&A - Home Selling Questions