Turning Non-Recourse Loans Into Recourse Loans

“Gary, I went to your short sale seminar. It was great and I learned a lot. Thanks. I have a question about loan modifications. Can they turn a non-recourse loan into a recourse loan? You mentioned something about this…” Answer: On a recourse loan, the lender can go after you for their loss if you’re
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Selling Your San Diego Home Vacant vs. Occupied

“Is it better to sell a home vacant or occupied?” Answer: Many people ask me this same question. The answer: It depends on 2 things: 1. How the occupant lives (furniture & tidiness) 2. The house If you have an ugly home, but you have nice “stuff” and are a neatfreak, sell it occupied. Attractive
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What to Offer When Buying a San Diego Home

“My wife and I own a condo in P.B. and want to move to a house in La Jolla, Del Mar, & Carmel Valley. Since we haven’t bought a home for many years, I don’t know how much below list price to offer when we find a home. What do you suggest?” Answer: Good question.
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Investing in San Diego Real Estate w/ Your IRA

“Is it possible to invest in real estate with your IRA?” Answer: Absolutely. In fact, I’ve done it before and am buying an investment property right now with my IRA. There are some rules you need to follow. One of the major ones is that you cannot live in the home you buy with your
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The Right Range for Value Range Pricing

“We’ll be calling you to sell our home shortly. In the meantime, we have a question. What’s the correct range for value range pricing? We’ve seen wide ones and narrow ones and wanted your opinion.” Answer: Value range pricing is a bit unusual and rarely used outside of San Diego, so many people don’t really
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Why You Need Both Appraisal & Inspection

“Hi Gary… When you buy a home, you have it appraised, so do you really need to pay for an inspection too? Wouldn’t the appraiser tell you if he finds any problems?” Answer: Great question. The appraiser’s job is to determine a value for a home. If he or she happens to see a glaring
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A Worst-Case Scenario for San Diego Investing

“Gary… My credit scores are not allowing me to buy any real estate and I have federal tax liens. I’ve been working on the fed. tax liens and have cleared most of them, but my credit scores are still in the 500’s. I have no cash and no one to turn to to borrow a
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The Right Price for Your San Diego Home

“I’ve had 3 agents out and they all say my home is worth $700,000 to $720,000, but I know with what I’ve done it’s got to be worth at least $775,000. Is it common for agents to underprice a home to get a quick sale?” Answer: No, it’s much more common that if you interview
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Making Offers on San Diego Foreclosures Not Yet on the Market

“My husband and I found a foreclosed home we want to buy, but it’s not on the market yet. How do we make our offer if it’s not listed?” Answer: You or your agent could contact the bank that foreclosed on it and with some persistence hopefully reach the right person to talk to. And
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Notice for Tenants When Selling

“I’ve heard if I sell my rental house I have to give the tenant 60-day notice. Is that right?” Answer: Cal. Civ. Code § 1946.1(a) and (b) says that landlords must provide 60 days written notice to terminate a tenancy if all tenants and residents have been in the property for at least one year.
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