What is Fannie Mae?

Question: “I hear all this talk about Fannie Mae. What is Fannie Mae exactly?” Answer: Fannie Mae or FNMA, stands for the Federal National Mortgage Association.  It’s a major market for buying and selling home loans and they have certain critical guidelines. If a loan doesn’t meet FNMA guidelines, it’s harder to sell, which typically
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Clairemont Duplex Market Update

    Here’s the latest on your Clairemont duplex market.     Right now, there are zero Clairemont duplexes for sale—not a single one.What does this mean? If you’re thinking of selling your Clairemont duplex, this is good news, because if you put it on the market, you’ll have no competition at all.  Overall, duplex
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What Does the Pacific Beach 2-4 Unit Market Look Like?

    Here’s the latest on two- to four-unit properties in Pacific Beach.     I’m here today with an update for you on our Pacific Beach two- to four-unit marketplace. Right now, I would put this market in the “very good” category. It’s not extremely hot and it’s not really slow, but it’s humming
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How soon should I make an offer on a house?

Question: “Hi Gary. Love your newsletter. I want to know, when you’re looking for a home and find one you really like, how long do you think it’s OK to think about it before making an offer?” Answer: He who hesitates is lost.  If a home is attractive and/or well-priced, someone else may have seen
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Are FHA loans only for first-time buyers?

Question: “Can I get an FHA loan if I’ve owned a home before?” Answer: Yes, contrary to what many people believe, you don’t have to be a first-time buyer to get an FHA loan. I think the confusion is because many first-time buyers do get FHA loans.
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How to keep the low property tax assessment for an inherited property

Question: “Are propositions 60 and 90 the ones that let people who inherit property from a parent or grandparent keep the low property tax assessment?” Answer: You’re thinking of California Propositions 58 and 193. Propositions 60 and 90 allow people 55 or older to transfer their low Proposition 13 tax assessment to a new home
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Can I get an FHA loan if I’ve owned a home before?

Question: “Can I get an FHA loan if I’ve owned a home before?” Answer: Yes, contrary to what many people believe, you don’t have to be a first-time buyer to get an FHA loan. I think the confusion is because many first-time buyers do get FHA loans.
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How do you transfer property and keep the same tax assessment?

Question: “Are propositions 60 and 90 the ones that let people who inherit property from a parent or grandparent keep the low property tax assessment?” Answer: It’s not propositions 60 and 90. Those allow people 55 or older to transfer their Proposition 13 tax assessment to a new home under certain conditions. You’re thinking of
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How quickly should I make an offer on a home in San Diego I really like?

Question: “Hi Gary. Love your newsletter. I want to know, when you’re looking for a home and find one you really like, how long do you think it’s OK to think about it before making an offer?” Answer: He who hesitates is lost.  If a home is attractive and/or well-priced, someone else may have seen
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Selling a Home Can Be a Price War and a Beauty Contest

To be an effective seller, you need to focus in on two key aspects of your home: its price and its appearance. In today’s real estate market, your home’s price and appearance are both crucial to your home selling success. If your home is beautiful and listed at a fair price, you’ll be far more
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