4 Steps You Should Take to Find a San Diego Home

Question: “My wife and I want to buy a home. Should we meet with an agent to find out about loans and what we qualify for?” Answer: You SHOULD meet with an agent, but not to find out about qualifying. That’s best left to a good mortgage loan officer. So what steps should you take
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Don’t Try to Time the Market When Buying a San Diego Home

Question: “I want to buy a home but am trying to time the market right. I’m not sure if we’re in a mini-bubble or are still looking at a lot more appreciation. What do you think?” Answer: I sold two San Diego properties in 2003 and 2004. I missed the peak by some 10-20%. Do
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Will Refinance Appraisals Be Conservative on Your San Diego Home?

Question: “I have a question about refinancing. We owe about $420,000 on our condo and it’s finally worth enough to refinance, about $475,000. We need to have a maximum 90% loan to value to refinance so those numbers should work. But I’ve heard that refinance appraisals are conservative. Is that true?” Answer: Believe it or
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Fix & Flip Investing Is Harder Than It Looks

Question: “I was intrigued by your article last week on fix and flip investors. I have some extra cash and was thinking about getting into that. How hard is it to do?” Answer: VERY hard. Most flippers work crazy long hours, 6-7 days a week. They have to be available to move quickly when the
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Can I Do a 1031 Exchange on My Vacation Condo?

Question: “Can I do a 1031 exchange on my vacation condo?” Answer: I talked with a 1031 expert said about doing an exchange with a vacation property. Here’s what she said: A second home that is not reported on Schedule E and the interest is written off against your personal income does not qualify for a
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Is Your San Diego Home Overpriced?

Question: “I’d like to move closer to my mother. There’s a home directly behind hers that’s been on the market for about a year and they haven’t reduced the price. Do you think it’s over-priced?” Answer: If a home is priced right, even the most pathetic, good-for-nothing, lay-about real estate agent will find a way
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How Agents Price Your San Diego Home So Fast

Question: “I interviewed an agent to list my house. She walked through for a few minutes and told me what price we could get. It surprised me that she gave me a value that quickly after just seeing my house for 10 minutes. It didn’t seem like she did any homework. Is that normal?” Answer:
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When Low Owner-Occupancy Hurts Your Condo Value

Question: “I live in a four-unit condo complex. Three occupants are owners and the fourth is a vacation home for the owners. Now one of the owners plans to move and rent his unit. Does this hurt the value of my condo?” Answer: If a condo complex falls below 60% owner-occupied, financing gets more difficult
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How Much Should You Pay for a San Diego Home You Love?

Question: “We could use your advice. We’ve been really studying the market and looked at over 50 condos. We finally found the perfect condo for us. We offered and the seller’s bottom price is $435,000, but that model has been going in the 420s. Any words of wisdom?” Answer: I have three comments – I
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Are Agents Paid When People Buy a Loved One’s San Diego Home?

Question: “Do agents get paid when family members buy a loved one’s home?” Answer: As long as everyone gets along in the family and the parties feel comfortable, they don’t necessarily need an agent for a sale to a family member. But some people have had me handle such cases because they really want a
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