“I have a dumb question. How does a bank really decide if they’re going to make me a loan? What do they look at?” Answer: When a bank decides if they’re going to approve a loan (the decision process is called “underwriting”), they look at the “three C’s”: 1. Character: Mainly your credit history (FICO

2935 LLOYD St, San Diego CA OPEN HOUSE Sunday March 28, 2010 1-4 pm $765,000 – $795,000 Click here to see more images Contact Information Gary Kent Phone: (858) 457-5368 clientsv@garykent.com www.garykentteam.com DRE #: 00862878 4 Bedroom • 3.5 Bath • Single Family Year Built: 1961 Sq Footage: 2587 Bedrooms: 4 Bathrooms: 3 Full, 1

“Do banks purposely way underprice their foreclosures so they can get multiple offers and bid up the price?” Answer: Almost never. If you see a foreclosure priced way below market, one or more people made a mistake. It may have been the agent, the “BPO” agent (who gave a second opinion on value), an appraiser,

“I’m going to be selling my home in La Jolla shortly and moving to Rancho Santa Fe. I just refinanced last month and have a pretty current appraisal for $1,420,000. Should I depend on that to price my home?” Answer: No! Some wonderful clients of mine recently had 3 appraisals on their home. Two were

“You’ve mentioned how important it is to have a good full-service Realtor if you’re selling. We’re buying a home and my friend’s sister has her license. She doesn’t really practice real estate, but she’ll kick us back $5,000. Is it worth the money or should we get a full-time agent?” Answer: You can guess my

“Hi Gary. We own a home in Pacific Beach that we’ll be calling you to sell in a couple of months. But for now we just want to find out the value and how much money we’ll net from the sale so we can do some planning. Can you help us with this?” Answer: As

“We’re looking to buy a house in the I-5 corridor. We either want a view or one where we can build up to get one. How do I know if I can add a 2nd story? What kind of restrictions are there on building up?” Answer: Great question. Here are some things you need to

“Is it possible to buy a property now and get a positive cash flow?” Answer: Yes. Of course, the answer has always been yes…if you put down 40%, 50%, or 100%! But now you can buy with 20% down (even 10% down on Fannie Mae foreclosures) and get a positive cashflow. It’s even easier to

“We’ll be selling our home in University City next year. I’m an honest person and plan to disclose everything, even though I don’t know of anything wrong with our home. But with all the lawyers and litigation in California, I’m afraid of being sued by the buyer for some technicality. What can I do to

“I’ve only been looking an homes for a couple of weeks and seen about 25. There’s one I really like, but I’m afraid it’s too soon. I know there’s no magic number, but how many homes do you suggest I see before buying one?” Answer: Tough question. Because it’s very subjective, I’m going to just