Finding Out the Bank’s Appraisal of Your San Diego Home
Sunday, 12 February 2012
“When I sell my home, will I find out what how much the bank appraises it for?” Answer: If the appraisal comes in at the sales price or higher, the bank tells us the appraisal was “sufficient” or some similar term, but they don’t usually release the price. If it’s low, they do tell us
- Published in FAQs, Home Selling
A Quick Rundown of Credit Score Ranges
Thursday, 12 January 2012
“Do you know anything about credit scores? My credit score is 872 but I heard the highest possible score is 850…” Answer: Congrats for having such a high score. But you’re right in that the maximum score for home loans is 850. There are 3 types of FICO scores with their own ranges of possible
- Published in FAQs, Real Estate Tips
Should You Agree to a MERS Foreclosure?
Wednesday, 04 January 2012
“I have been receiving your newsletter via email for some time, and have received some really good information, very informative – Thank you. I was approved for a modification and they’re asking me to sign something agreeing that MERS has all rights to foreclose, etc. I want to ensure I am not signing my life
- Published in FAQs, Home Financing
Should You Go to Where You Bank for a Mortgage?
Friday, 23 December 2011
“Do you recommend I go to where I bank to get a mortgage? Will they give me some kind of preferential treatment?” Answer: The answer would have been “yes” 50 years ago. However, today it’s very rare for a bank to give any significant benefit to one of their customers who gets a mortgage. Call
- Published in FAQs, Home Financing, Real Estate Resources
Marketing Your San Diego Home “As Is”
Thursday, 01 December 2011
“A Realtor told me we can market our home “As Is” and not make any repairs. Is that a good idea?” Answer: No, for at least two reasons: 1. Marketing “as is” gives many homebuyers and agents a sneaking suspicion that your home has problems you don’t want to fix. This will lead to buyers
- Published in FAQs, Home Selling, Real Estate Tips
Restrictions on Obstructing San Diego Home Views
Friday, 25 November 2011
“Hi, Gary! A San Diego real estate agent on an open house near me said there’s a building restriction in our area which prohibits blocking more than 5% of any neighbor’s view, without their permission, even if the construction complies with the usual 30 foot above the grade limitation. Do you know of any such
- Published in FAQs, Real Estate Tips, San Diego
Selling Your San Diego Home Vacant vs. w/ Tenant
Saturday, 29 October 2011
“Hi Gary. We love your Q&A. Question: We want you to sell our rented La Jolla home in January. So my question is whether we should sell the house vacant or with the tenant in? What do you think?” Answer: Great question. The best answer is usually to sell it vacant, but the right answer
- Published in FAQs, Home Selling, San Diego
How Banks Approve a Short Sale
Thursday, 27 October 2011
“What do banks look at when they decide if they’ll approve a short sale?” Answer: Banks look at: 1. The owner’s “hardship” or reason for having to sell. 2. Whether they think the owner can keep making mortgage payments, based on their income relative to expenses, including the mortgage. 3. The owner’s cash, stocks, bonds,
- Published in FAQs, Home Selling, Short Sale