“I’m going to refinance soon and I want to be sure I don’t have a prepayment penalty. I told my loan person, but how can I be sure?” ***ANSWER: My best friend is a smart, successful stockbroker. His mother refinanced her home awhile back and he told the lender she planned to sell soon and

How to Choose a Lender? “We’re going to be buying a home soon, either in University City or maybe La Jolla. Do you recommend using a bank or a mortgage broker? I’ve heard direct lenders and banks have very limited options, but mortgage brokers can shop your loan to many sources and have a wider

How Much Money Should I put down as my Deposit? “How much should my deposit be when I buy a home? I’ve heard you should make it as small as possible so you don’t lose much if you back out.” ***ANSWER: Small deposits do pose less risk to you as a buyer. But your deposit

San Diego Real Estate Mello Roos Question “We’ve been looking at homes in North San Diego 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,

Agents, Brokers, & REALTORS “Hi Gary. We really enjoy reading your newsletter. We’re going to be selling my aunt’s home in Clairemont soon and will be looking for an agent. I’ve seen several different titles. What’s the difference between a Realtor, an agent, and a broker?” ***ANSWER: A real estate agent in California can have

What is a better home to buy in San Diego? Condo vs. House “Perhaps you can help settle an argument. I want to buy a nice condo in a safe area like Clairemont or La Mesa, but my husband wants a house, even if it’s a little dump in a slummy area. He says he’d

How can I sell amy Mission Beach Home to avoid taxes: “Hi Gary. After I sell my home in Mission Beach, how long do I have to buy another one to avoid paying taxes?” ***ANSWER: You’re either thinking of the old I.R.S. Code Sec.121 rules for a principal residence, or the Sec.1031 rules for investment

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