Pest Control Clearance Covers More Than Termites

Question: “I just looked at a house that’s overrun with fleas.  Does pest control clearance cover termites only or all bugs and pests?” Answer: A “pest control clearance” is often called a “termite clearance.”  Both are misnomers. “Pest control…” implies all kinds of bugs, rodents, and other pests will be eradicated. “Termite…” sure sounds like
Read more
No Comments

Must Value Range Sellers Accept Any Offer in the Range?

Question: [From an agent (who should but doesn’t understand value range pricing) who brought an offer in the bottom half of the value range of a home I had listed] “My clients and I spent hours trying to make a deal happen that isn’t possible.  Why is there a range posted when your clients are
Read more
No Comments

When Does the Seller Pay for Undisclosed Problems?

Question: “We bought a house and the seller disclosed the presence of a cat in one room, but no disclosure of any pet stains.  We pulled up carpet and found 15-20 stains on the floor underneath.  Is this a case where seller should have known and disclosed it? Or is he covered by saying he
Read more
No Comments

What Are Sellers Required to Fix?

Question: “I know the seller has to fix health and safety items, but don’t they also have to fix code violations?” Answer: No, no, and no. There are very few physical requirements a homeseller in San Diego County is legally required to meet, and those don’t include health, safety, or code items. Here’s the short
Read more
No Comments

Can You Trade Your San Diego Home For Another?

Question: “Hi Gary.  I’d like to trade down from my house to a nice condo in the beach.  If you find someone who’d like to trade, that would be great…” Answer: I’d love to help you but… The odds of: you liking a specific condo AND that owner liking your specific home AND you being
Read more
No Comments

Factors When Picking a Neighborhood to Buy a San Diego Home

Question: “I’m about to start my home search, but now it occurs to me that first I have to find the right neighborhood. What factors do I need to consider when choosing a neighborhood to buy in?” Answer: There are lots of factors to consider.  How you weigh them depends on what’s important to you.
Read more
No Comments

What’s a HUD Home?

Question: “I was looking into what kind of home I want to buy and heard someone mention HUD homes. What are those?” Answer: HUD is the U.S. Dept of Housing and Urban Development.  HUD guarantees FHA loans.  So HUD homes are FHA foreclosures. With so few foreclosures now, you missed the boat on those. Or
Read more
No Comments

How to Tell If the Market is Slowing Down or Speeding Up

Question: “How can I tell if the market is slowing down or speeding up?” Answer: One way is by looking at changes in the “absorption rate.” Absorption rate is defined as “the number of months (or weeks) it would take to sell the current inventory of homes at the present rate of sales.” To determine
Read more
No Comments

Is It Okay Not to Get an Appraisal?

Question: “My friend was buying a home and the seller asked him to waive the appraisal contingency.  Isn’t that a bad idea?  That means he won’t know if he’s overpaying.” Answer: An appraisal is just an opinion, and usually a less accurate one than a good Realtor who knows the area. I once listed a
Read more
No Comments

Should an Agent Represent Both Buyer & Seller?

Question: “Is it legal for an agent to represent both a buyer and seller?” Answer: Great question.  It’s 100% legal in California.  (Real estate laws vary by state.) Is it a good idea? If the agent is like most and has integrity, it’s perfectly fine.  He or she will not favor either party and will
Read more
No Comments