“We’ve been looking at homes in North County and sometimes we see an extra fee called Mello Roos for a few hundred bucks a month. I wouldn’t want to buy a property with an extra fee. What is that?” ***ANSWER: In California’s “taxpayer revolt” of 1978, voters passed Proposition 13 that: 1) limited property taxes

“I listed my P.B. home with an agent at $1.3 million. When it didn’t sell, I listed with my current agent for $1.15 million. Now she wants me to reduce my price again, but I’ve already come down 150K. I don’t think she’s doing a good job. What should I do?” ***ANSWER: You didn’t tell

“My husband and I will be buying a house in Scripps Ranch or UC. He wants his fishing buddy who does real estate on the side to represent us. I know that’s a bad idea, but can YOU tell him?” ***ANSWER: USING A PART-TIME AGENT IS DANGEROUS! (Excuse the yelling, but I wanted to be

“We own a duplex in North Park free and clear. We’ve had it 17 years and we’re tired of managing and thinking about selling it. Do you recommend we carry a note so we don’t have to pay taxes?” ***ANSWER: Instead of getting all your cash at close of escrow, carrying a note (called an

“Gary. My wife and I really enjoy your newsletter. Question- Why typically do home sales fall through? We’re curious for when we sell our home next year.” ***ANSWER: Based on my 21 years and 3,000+ home sales, here are the reasons home sales fall through, in approximate order: 1. Buyer’s inspections and investigations reveal defects

“Perhaps you can help settle an argument. I want to buy a nice condo in a safe area, but my husband wants a house, even if it’s a little dump in a slummy area. He says he’d never buy a condo because they just keep jacking up the fees and the fees are a waste

“I bought a home in January planning to hold it 6 months, resell and move to Florida where I’m taking a new job. Unfortunately, I overpaid a little and the value hasn’t gone up. I really need to sell and move on, but I just can’t lose money on this. Any suggestions?” ***ANSWER: I understand

“Hi Gary, We’re starting to look for a house. We saw one that just came up for sale down our street and we’re waiting for the open house so we can see it. If we like it, can you help us buy it?” ***ANSWER: Yes, we can definitely help you purchase that (or any) home.

“Hi Gary. I have 24 apartments in City Heights. They’ve been a headache lately and I’d like to get out of them into something else. Is it true that you have to buy up to do a 1031 exchange?” ***ANSWER: Almost. While you do have to buy up to do a full referral, just buying

“What’s this I see about 1% and 2.5% real estate fees to sell a home. I know they’re discount brokers and don’t do very much, but how can they charge so little and stay in business?” ***ANSWER: Many of them don’t. There’s a real revolving door of these reduced service brokers starting up and later