How does the Mills Act work?

Question: I recently heard of something called the Mills Act, can you tell me more about it and how it works? Answer: Certainly. What is the Mills Act?The Mills Act is property tax reduction for designated historic properties. It will limit changes that can be made to the property. How does a property qualify for
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How to (Almost) Lose $100,000

Foreclosure sales can lead to great deals, but it’s important to do your due diligence on any home you’re thinking about buying. Back in 2011, my associate Kevin and I made a few offers at foreclosure sales. There was one house in Pacific Beach that we were thinking about making an offer on. By total
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This Week’s Crazy Building: Temple of Valadier

Sitting in the midst of a cave, the Temple of Valadier seems bizarrely out of place. Located nearby Ancona, Italy, a small port city. The Temple was built in 1828 by architect Giuseppe Valadier and uses white travertine. This spot is believed to have been used as a sanctuary from invaders as early as the
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Is there a downside to value range pricing?

Question: “If I sell my home, is there any downside to value range pricing?” Answer: Only one that I know of… Because value range pricing is rarely seen outside of San Diego, none of the national websites support it. They only have a field for one price, not a range. Their work-around is to use
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Can property managers effectively sell properties?

Question: “We’re going to sell our rental property and have our property manager list it…” Answer: Hold on a sec! You don’t want a regular real estate “sales” agent trying to manage your property. And you don’t want a property manager trying to sell your property. Even though both jobs require real estate licenses, they’re
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How much do I pay the agent who is showing us homes?

Question: We are starting to look for a home but are not sure about using an agent. How much would we have to pay them? Answer: Great question! The answer most of the time is… Zero! Of course, real estate agents don’t work for free. In practice, the seller almost always pays both agents. There
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You’re Invited to Our Next Open House Extravaganza

It’s that time again. You’re invited to another Open House Extravaganza. Join me on June 29 from 1 p.m. to 4 p.m. at 5049 Pacifica Drive in Pacific Beach to see a beautiful house with a beautiful view. We’ll have wine, cheese, music, good conversation, and so much more. The asking price is $1.299 million.
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Can I bring my dog when I go to see a home?

Question: “Is it okay to bring my dog inside when I see a home?” Answer: Great question. First of all, I love, love, LOVE dogs. But even though you and I and most normal people love dogs, you should never bring your dog into a home you’re viewing without permission. The owner may be allergic,
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How long does the 1031 exchange process take?

Question: “I’m thinking about doing a 1031 exchange, how long does the whole process take?” Answer: It’s MUCH faster than you might think. In fact, it only takes a couple of days to set up. So it shouldn’t delay your transaction. That being said, never wait until the last minute to set up your exchange.
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Do real estate networks sell homes?

Question: “Are you a member of a big network? We went to a seminar at a retirement community and an agent spoke and said a reason to use them is that they’re with a big firm that has a network that will sell our house.” Answer: Yes, I’m a member of several large networks, including
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