“I’m a new investor and want to know if I should fully furnish apartments. Or should I just supply a stove and refrigerator?” ***ANSWER: Go for just the stove and frig. I don’t like furnished apartments because the tenants are more transient and there’s more cost and hassle dealing with broken and worn furniture. Discover

“My wife and I have 2 kids in elementary school and we’re thinking of selling and moving to Poway for the schools. I keep up on the market and I’m pretty sure my home is worth about 700K. But an agent told me someone is building 2 new homes similar to mine a block away

“I’m negotiating to buy a bank foreclosure and just got an addendum form saying the bank can cancel at any time. Do I have to sign that?” ***ANSWER: Only if you want to buy the home. But let me put your mind at ease. After selling 500+ foreclosures the past 2 ½ years, I’ve yet

“If I am a first time homebuyer, can I qualify for down payment assistance in the form of grants or “silent second” loans?” ***ANSWER: Perhaps. The few available programs have certain requirements, such as: – Buying in certain targeted neighborhoods OR – Income limits OR – Having 3% for the down payment OR – Having

“We’re thinking of moving some time this year. When’s the best time of year to sell? I’ve always heard it’s the summer, but I value your opinion… ” ***ANSWER: Except for late December, it seems it’s always a good time to sell a home here. But all other things being equal, the very best time

“Will banks charge me a per diem penalty if escrow closes late due to them or the escrow company’s fault?” ***ANSWER: No. Occasionally some overworked people at banks lose track of whose fault it was and try to charge it, but we talk them out of it. Hidden Traps in the Contract’s Small Print

“One of my new year’s resolutions is to start investing. Do you recommend stocks or bonds?” ***ANSWER: With both markets being so hammered, either may be good to invest in. Not being a stock expert, you don’t really want me advising you about stocks. But I can share with you 5 advantages that real estate

“Last week you explained how short sales work. You mentioned a short sale package that goes to a lender. What goes in the package? ” ***ANSWER: To show that you can no longer afford to keep the home, the bank requires a “short sale package” from you containing: – A “hardship” letter …explaining what has

“Question. We’re starting to look for our first home. When will you actually need money from us to buy a home?” ***ANSWER: There are four times where you need to write checks: 1. Loan Application: Your lender may charge fees to apply or check your credit. Should be under $100 2. Offer: You’ll need to

“I need to sell my home, but I owe a lot than what it’s worth. So to sell, I need to do a short sale. How do short sales work?” ***ANSWER: Simple question. Complex answer. People need to do a short sale when they want to or need to sell and the proceeds from a