“How much money is required for a deposit to buy a home? My friend says not to give a deposit over $1,000.” ***ANSWER: The initial deposit is also called an “earnest money deposit.” $500 doesn’t sound terribly earnest and makes your offer look weak, hurting your chances of getting the home you want. Not what

“Hello… I’m going to sell my late mother’s home in September. I know you don’t want to hear this, but I plan sell it without a broker to save the 6%. One of my neighbors did, and he didn’t know anything about real estate, so it can’t be too tough. I’ll just get the escrow

“I just don’t understand how some real estate agents survive. They spend good money placing ads in the paper, but when you call them they never call you back. I’m looking for a home and can’t even get agents to call me back.” ***ANSWER: I feel your pain! In 2003, I started to invest in

“Hi Gary. I bought a home 3 years ago with 10% down and I’ve been paying PMI [private mortgage insurance]. I know PMI insures lenders against loss on low down payment loans. But my home value is way up, so I think they no longer have any risk. Can I cancel my PMI?” ***ANSWER: Lenders

“I’m going to be interviewing agents to sell my home in North County. What should I be looking for in a marketing plan?” ***ANSWER: Question… If you need an attorney, would you ask him how he files motions and litigates cases? If you need a surgeon, would you ask her how what types of scalpels

“I own apartments and I’d like to learn more about Limited Liability Companies. I’ve heard they could help protect me in case I get sued if one of my tenants slips and falls or has some other accident. What can you tell me about LLCs?” ***ANSWER: Since this is California where everybody sues first and

“I’ve seen an agent in my neighborhood advertise that they’ll buy my house if they don’t sell it. But I’d rather use you. Will you give me the same guarantee?” ***ANSWER: Sure. But you won’t like the price. And you won’t like the price the agent you mentioned offers you either. The reality is no

“There’s a house my wife and I have fallen in love with. But the owner wants $40,000 more than any house of similar size in the area has ever sold for. How do I talk her down to a realistic price? Thanks.” ***ANSWER: There’s more to value than square footage. There’s location, condition, view, amenities

“Hi Gary. I just turned 55 and I was wondering if that means I can sell my rental house tax-free?” ***ANSWER: Where do I start… Prior to 1997, tax law allowed homesellers 55 or older a once-in-a-lifetime option to exclude $125,000 of gain on their principal residence. This did NOT a investment property. And that

“What if my offer is rejected?” ***ANSWER: Many clients ask me this question. Unless you make a very low offer, the seller will likely either accept your offer or make you a counter-offer with a change of price and/or terms. Then you and your agent will look over the counter-offer and you’ll decide if you