“I just got a s-c-r-e-a-m-i-n-g deal on a home. And I want to thank you for your comments several weeks ago about the buyer’s market and that it’s a great time to buy a home.” ***ANSWER: Congratulations. Of course I’d be even more happy for the both of us if you’d had me find you

“I have a letter from a mortgage broker saying I’m pre-qualified. Is that sufficient to show a seller that I’m qualified when I make an offer?” ***ANSWER: Per the conversation you read in the top section of this week’s Q&A, a pre-qualification or pre-approval is only as good as the loan rep that gives it.

“What can I do to motivate agents to show and sell my home?” ***ANSWER: Here are 5 ways: Price- Agents show homes they can sell. Price yours near market value, otherwise agents are less likely to show it. Commission / Incentives- Agents are putting bread on their table. Offer them a higher commission or other

“What’s the difference between a conforming and a jumbo loan?” ***ANSWER: Conforming loans are residential loans for 400K and below. Their rates are typically 1/8% to 1/4% lower than jumbo loans (over 400K). Investments

“Hi Gary. I’ve heard you and others talk about short sales. What is a short sale?” ***ANSWER: A short sale (aka “short pay”, “short pay-off”) is when a lender or lienholder on a property agrees to receive less than the balance due when the property is sold. I’ll tell you WHY they’d ever agree in

“We’re looking at a home on over a quarter acre, most of it is on a hillside and unusable. The agent we’re working with keeps telling us that the huge lot means the property is worth more. Is it?” ***ANSWER: If the large lot means you have greater privacy, a view, the ability to build

“My home just went off the market after 6 months. I have to say my agent worked at it, but he suggested value range pricing and it didn’t work. All the offers were in the low end of the range. Why do people think value pricing works?” ***ANSWER: Studies have shown that homes marketed with

“We’re in east county and to move west, probably University City or P.B. We know homes there are a little out of our reach and we’ll end up with a fixer-upper house. What should we be looking for in a fixer-upper?” ***ANSWER: You want a home with “the right things wrong with it.” The ideal

“Hi Gary. We’re buying a bigger home and considering keeping our old home as a rental. Do you think that’s a good idea?” ***ANSWER: Great question, one I hear from many of my clients. There’s no precise yes/no answer, but here are some things to consider: PRO 1.. Real estate has been the basic building

“We’re going to be selling our rental condo in La Jolla. Should we sell it with the tenants in or should we sell it vacant?” ***ANSWER: The answer depends on 3 things: are the tenants cooperative, are they reasonably neat, and does the home need a cosmetic overhaul? If the tenants will be flexible with