Must I Fumigate My San Diego Home Before Selling?
Tuesday, 30 September 2014
Question: “Do I have to fumigate my house for termites in order to sell it?” Answer: Almost never. I’ll explain when you do have to fumigate, but first let me correct three myths about termite fumigations: Myth #1: “You’re legally required to fumigate when you sell.” Over the years, many of my clients have thought
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Did A Zillow Exec REALLY Laugh At Zestimates?
Friday, 19 September 2014
Did a Zillow executive really chuckle over the accuracy of “Zestimates”, the website’s automated home valuations? Yes! At the Keller Williams real estate conference this week, Greg Schwartz, chief revenue officer for Zillow, was asked about the well-known inaccuracy of Zestimates. He laughed… nervously. “We all know the Zestimate is imperfect,” he said. “If you want an accurate appraisal, you
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Paying from Your Pocket During a Short Sale
Tuesday, 02 August 2011
[Context: I sent a client doing a short sale the offer to sign on their home.] “Do we have to pay anything from our pocket?” Answer: Simple question, long answer… Refer to the “Short Sale Addendum,” paragraph “A.” It says: “This Agreement is contingent upon…consent from all existing secured lenders…to reduce their respective loan balances
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Do Probate Properties Sell Over Their Appraisal?
Sunday, 31 July 2011
“Hi Gary. I saw you quoted in the San Diego Union. Pretty cool. Question… What do you think about probate sales? I found one probate house appraised at 700K, but they’re asking 775K. Is it normal for probate properties to sell over their appraisal?” Answer: A probate sale of real estate can happen when someone
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The Importance of Pre-Approval
Friday, 29 July 2011
“I’ve been looking for a home for 2 months and agents keep pushing me to talk to a lender. I’m looking for a good deal and if I don’t find one I won’t buy. So I don’t want to waste my time or share my personal information unless I find a home. I make good
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When You Should Hurry to Make an Offer
Tuesday, 26 July 2011
“The last time I bought a home, the agent rushed me to make an offer. I’m going to tell the next agent I work with that if he or she tells me to hurry I’ll dump them and use someone else. Am I being unreasonable?” Answer: Even in normal (not overheated) markets, the best homes
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Defining A, B, C and D Neighborhoods
Sunday, 24 July 2011
“I’m looking into buying apartments and I’ve heard brokers talk about A, B, C, & D areas. I think I understand, but can you explain?” Answer: A, B, C, & D are subjective grades used to describe both location and property quality. For location, here’s how I’d describe it. It’s a bit tongue in cheek,
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How Prop 60 Allows Transfer of Low Property Taxes
Friday, 22 July 2011
“Hello and thanks for your newsletter :o) I’m trying to keep track of real estate, with an eye to moving from a house to a condo. What’s all this about being able to keep your Prop 13 taxes if you’ve passed your 55th birthday? Are there any catches? Keep up the informative (and entertaining) work!”
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What Happens When the Appraisal Is Low
Tuesday, 19 July 2011
“Hey Gary. Question. What if when you’re buying a house the appraisal comes in low? Does the seller have to sell for that price?” Answer: Great question. It’s important to remember that a residential appraisal is really the appraiser’s opinion and may or may not be “correct.” If the appraisal comes in low, one of
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