“Don’t you feel 6% is a lot of money for an agent to make when they sell a home?” Answer: Not much. I understand how you feel. And the truth is, I agree that many agents don’t deserve what they charge. But consider the following: 1. If your home doesn’t sell, your agent doesn’t make

“Good morning Gary! I am a Canadian that has always had a life long dream of moving to San Diego. Thinking I might take the plunge to try and avoid this upcoming Canadian winter. What percentage of a down payment do you need in California for a guaranteed mortgage approval? I won’t have any credit

“What do you think of Zillow.com for determining home value?” Answer: Not much. I’ve seen the value off by as much as 40%, with an average inaccuracy of 10%+, in my opinion. I may eat these words later, but I don’t think automated software will ever replace seeing a home and objectively weighing all the

“We have our rental house managed and the contract is up soon. The manager takes an 8% fee, so we’re thinking about managing the property ourselves. What would you do?” Answer: We’re different people. I’m not a good property manager, so I’d prefer to hire a professional to take care of it. In the long

“Our home is for sale. We’ve had 30 showings in 5 weeks and just one offer at the bottom of our range, which we refused. What do you make of that?” Answer: The National Association of Realtors reports that a home priced correctly should receive one offer for every 10 showings, on average. Based on

“I just looked at a house with a cracked slab. My friend tells me not to buy it, but it’s a beautiful home and priced right. What do you think?” Answer: There are two kinds of cracked slabs. First, there are those that are a problem and damage a home. Minor fixes can run in

“Hi Gary. I’m refinancing and the bank’s appraiser used a trustee sale as a comp. Is that normal?” Answer: Absolutely not. I’m no appraiser and don’t know official appraisal rules and guidelines. But in my opinion, that appraiser should lose his license! Why? Market value is defined as the price a willing buyer and willing

“Hi Gary. I inherited a property from my father in March 2008. I’d like to sell now. But to get the tax break, I can’t sell until next March so that I’ll have lived here two years…” Answer: Let me stop you right there… You’re referring to the homeseller exclusion. If you’ve owned and lived

“My friend bought a home and the owner left it filthy, with junk everywhere. His agent told him the owner has to leave the home clean and free of any junk. What can he do now?” Answer: Unless otherwise agreed, the standard contract requires the seller to remove all debris. Contrary to what the agent