What Is Debt Coverage Ratio?

Question: “I’m a small-time real estate investor. I have a couple of rental condos in Mira Mesa and North Park, but I’d like to trade into an apartment building. I’ve been talking with people and asking a lot of questions. There’s a term I’ve heard called debt coverage ratio. What is that?” Answer: You’re getting
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How Many Days Do You Get to Inspect a San Diego Home?

Question: “How many days do you get to inspect a house?” Answer: The default or standard time period in the California contract to do your “inspections and investigations” and object to the results is 17 days. However, that number is often shortened, and almost certainly shortened if you’re buying a foreclosure. So be sure to
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Can Your Bank Get Your Money After a Short Sale?

Question: “I’m planning to do a short sale. But if I come into some money later, can my bank go after me and try and get that money?” Answer: Not if you’re selling a property in California! Because of California Senate Bill 931 and Assembly Bill 458, when lenders agree to a short sale, they’re
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Never Use a Lender Who’s Also an Agent

“I just went to your San Diego investing seminar and heard you say never to use a lender who’s also an agent. Sadly, I heard this too late. I bought my San Diego home in 2009 and my (ex) agent did my loan. It was a nightmare. It took almost three months to close and
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How to find a San Diego Short Sale Agent

How to find a San Diego Short Sale Agent? San Diego home owners who are facing the prospect of a bank short sale, need to find short sale specialist. Most folks find their agents from the “neighborhood specialist” or by a family member or friend. Gary Kent, a San Diego REALTOR since 1984 suggests that
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San Diego Homes Billed as “Corporate Owned”

Answer: “I’ve seen some San Diego homes advertised as ‘corporate owned.’ What does that mean exactly?” Answer: There are two likely explanations: First, when larger companies relocate a new or existing employee away from San Diego, sometimes they help by having a relocation company purchase the San Diego home, then resell it. My understanding is
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Home Equity Line vs. Equity Loan vs. HELOC

San Diego Realtor Gary Kent describes the differences between Home Equity Line vs. Equity Loan vs. HELOC.
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Pricing Your San Diego Home Right Gets More Offers

Question“My neighbors just listed their San Diego home and I know they got several offers the first week. Do you think that means they should have asked a higher price?” Answer: Not necessarily. Yes, San Diego homes that are priced too low usually attract multiple offers. However, you can also get multiple offers if your
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Finding the REAL Worth of Your San Diego Home

“I’m thinking of selling my La Jolla home and buying a bigger one. And I’m concerned about asking the right price. Everyone talks about list price, sales price, CMA, appraised value, etc. But what is a home really worth?” Answer: Great question. Recently a young man told me his condo had just appraised at $460,000.
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5 Options for Selling a Home & Buying Another

Question “We live in Clairemont and we’re ready for a bigger house, but I don’t know how to go about this. I don’t want to sell mine until I’ve got another one, but I have to sell to get the money to buy the next one. How do people do this?” Answer: I hear San
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