House vs. Condo: What’s a Better Investment?

Question: “Hi Gary, I don’t really want a condo. They’re not a good investment, with the homeowner fee and that they don’t go up in value. A house is a much better investment, don’t you think?” Answer: I hear that all the time, and I would respectfully disagree. Of course, you have your personal preferences,
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Calculating Value of Multi-Unit Properties Can Be Tricky

Question: “We have four units in Ocean Beach we want to sell. It’s a house plus a triplex in back. An agent calculated the value for us as four units, but shouldn’t the value be equal to the price of a house plus the price of a triplex added together?” Answer: I wish the answer
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Beware Cost-Benefit Guides When Improving Your San Diego Home

Question: “I’ll be selling in a couple of years and am looking at investing some money in my home now so I can get a higher price when I sell. Can you direct me to a cost versus benefit analysis list for various upgrades or repairs?” Answer: There are several such lists. Here’s one from
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Are Rates Low Enough to Refinance Your San Diego Home?

Question: “Do you think rates are low enough to refinance?” Answer: I don’t know your current rate or whether you have a fixed or adjustable rate, so… If you have a fixed rate now and want another fixed rate: Depending on your loan balance and tolerance for paperwork, you want to at LEAST get a
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House vs. Condo: Which Appreciates Faster?

Question: “My husband and I are planning to buy our first home and we want to make the right decision. Can you tell us which appreciates faster, a house or a condominium?” Answer: The assumed conventional wisdom is that houses appreciate faster than condos. I don’t have any stats, but based on observation I have
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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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Selling to a Cash Investor vs. a Family

Question: [From a client whose home I had for sale] “I know I should go with the cash investor and quick closing, but my heart is telling me to sell to the other buyer who offered the same amount. I’d really love to see a family living in my home. And they said they’re okay
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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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