Why You’re Not Getting Offers on Your Rental Property

Question: “I’ve got my fourplex for sale, but nobody’s made an offer.  I don’t get it.  You get almost nothing with your money in the bank, and I hear that most properties are getting multiple offers.  Why do you think I’m not getting any offers?” Answer: While what you’re stating is true, it doesn’t mean
Read more
No Comments

Can the Acceptance Date Be a Weekend or Holiday?

Question: “My offer was accepted on a weekend.  My lender told me that you always consider the following Monday to be the acceptance date as far as when you start counting how many days you have for inspections and other things.  Is that correct?” Answer: Your lender has an active imagination.  And he’s wrong. Even
Read more
No Comments

Why You Can’t Use Cash For Down Payments

Question: “I run a cash business. Since banks pay so little interest, I keep most of it in a safe. Now I want to buy a home and someone told me that it’s a problem using cash for a down payment. Why would that be a problem?” Answer: OK, so I’m not going to ask
Read more
No Comments

Is Now a Good Time to Sell Your San Diego Home?

Question: “I had my home on the market in 2011, but it didn’t sell because no one would pay what it was worth. Do you think it’s a good time to sell now?” Answer: Wikipedia, the ultimate source of all knowledge, defines value this way: Fair market value (FMV) is…what a knowledgeable, willing, and unpressured
Read more
No Comments

Value Matters, Not List Price

“I’ve been looking at homes and made a few offers. My friend is a bookkeeper, but he has a real estate license, so he’s been showing me homes. He’s told me on several homes to offer over the list price, but I don’t feel comfortable doing that…” Answer: Let me interject two comments… #1: It’s
Read more
No Comments

Where to Look for a Lender for Your San Diego Home

Question: “Where do you suggest I start looking for a lender to get approved for a home loan?” Answer: I would avoid some of the common sources, such as going online or looking at newspaper ads. The best source is to ask a good, reputable, experienced agent. He or she will know a handful of
Read more
No Comments

Selecting a Range for Value Range Pricing

Question: “I’m trying to figure out value range pricing. If I feel my home is worth $500,000. What range would I ask?” Answer: Great question. Your desired price should be around the middle of the range. That allows for an attractive lower end of the range to draw interest, and a higher range to give
Read more
No Comments

Should You Get a Home Warranty on Your San Diego Home?

Question: “When I buy a home, I’ll get homeowner’s insurance. Why would I want a home warranty?” Answer: Homeowner’s insurance is hazard insurance and covers items damaged in fires, by water, by wind or other covered events. Unlike homeowner’s insurance, a home warranty covers parts of a home that can break down. These “parts” include
Read more
No Comments

Should You Request a Schedule E for a Rental Property?

Question: “Hi Gary. Question: When buying a Rental Income property, is it customary to request a last available copy of IRS Schedule E on that specific property??? This certainly would be reliable tool to estimate a Near True rental income? Warm regards.” Answer: That’s a great question and a great idea. You never want to
Read more
No Comments

Why Price Per Square Foot Is Bad—& Some Agents Use It Anyway

Question: “My home is in North Park and it’s 3,400 square feet. The average price per square foot in the neighborhood…” Answer: Whoa! Stop! Halt! Before you go any further, I want to save you some time and trouble and correct your faulty premise. Many real estate agents, appraisers, and homeowners too clever for their
Read more
No Comments
TOP