How Long to Wait for Price Reduction After No Offers

Question: “Our home has been for sale for over a month and we’ve received no offers and very few showings.  How long should we wait before dropping the price?” Answer: You’ve already waited too long! In this still fairly hot market, if your home is on the Multiple Listing Service for two weeks with little
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Can Seniors Sell & Keep Their Low Property Tax Base?

Question: “Dear Gary, I’ve been told that the San Diego Tax Assessor will allow a senior citizen to sell their existing house in another county (ie. Orange County), allow you to retain your existing property tax base, purchase a home in San Diego county and forward your original property tax base to the new home
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Should You Hire a Team to Sell Your San Diego Home?

Question: “I’m planning to sell my home and am deciding if I want to list with a solo agent or a successful team.  I think the team idea is a good one and I’d get more action.  But I’m concerned that a team may be impersonal and I may be forgotten.  Your opinion?” Answer: Before
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Should an Agent Be Paid Less If They Sell Fast?

Question: “I listed my home with an agent and it sold in three days over list price.  I asked her to take a lower commission because she didn’t have to work very hard.  I know you’re an agent, but don’t you think that’s a little greedy?” Answer: I’ll answer your question with a few questions
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My San Diego Home Valuation Process

Question: “I know you’re very accurate at determining home prices.  What is your process?” Answer: There are several steps I take when setting home prices: Use nearby sold “comps” (comparable homes) Analyze nearby sold homes to see if any are comparable Find the most comparable and adjust for differences and market changes Analyze a broader
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Why No More Offers Come In After You Accept One

Question: “When I listed my condo, we received several offers.  But after I accepted an offer a few weeks ago we haven’t received any additional offers.  Why is that?” Answer: Once you accept an offer, we’re required by our MLS (Realtor’s multiple listing service) to change the status from “active” to “pending.” Pending tells agents
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Raising Your Price Doesn’t Create Negotiating Room

Question: “We’ve had our home on the market for 3 months for $700,000 and want to get around that price.  But we keep getting offers +/- $650,000 and they won’t go any higher.  Since the offers are $50,000 below our price, we’re going to raise our list price to $750,000, then we can negotiate down
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Should You Sell Your San Diego Home—or Fix Up First?

Question: “We’re planning to sell our home.  Truth be told, our home is far from perfect.  The kitchen is old, the inside needs a new coat of paint, the yard’s a mess, to name a few.  Do you think we should fix up our home first or just sell it?” Answer: Great question—another one that
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How to Sell & Avoid Paying Taxes on Your Gain

Question: “Hi Gary.  My wife and I plan to sell our home and we’re pretty sure we’re exempt from paying taxes on our gain.  How does that work?” Answer: In 1997, Congress gave you and me a particularly generous tax break.  IRS Code Section 121 lets you sell your principal residence and exclude all your
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Does Every Bedroom Need a Smoke Detector?

Question: “I’m buying a home and there was only one smoke detector in the hallway.  My contractor says that’s fine, but my agent says they have to be in the bedrooms.  Which is correct?” Answer: Per California law, the smoke detectors must be centrally located outside each “sleeping area” (sounds like a bedroom to me).
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