Selling San Diego Real Estate Without Too Much Tax

“I’ve owned San Diego real estate for 40 years and I’m tired. I’m 71 and want out of being a property manager. My wife and I own a 7-unit apartment complex in Normal Heights. Any ideas on how to sell it without paying a lot of tax?” Answer: Here are SIX ideas for you: 1.
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7 Easy Fixes for Selling Your San Diego Home

“We’re planning to sell our home. We’ve done a beautiful remodel inside our home, but our front porch is shabby. From reading your newsletter we know how important a good first impression is. Can you give us ideas to improve it that won’t cost too much?” Answer: Of course, I haven’t seen your home, but
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Price Appreciation in San Diego Neighborhoods

“Hi Gary. I’m thinking of buying a home and I’m trying to decide where. Don’t you think that all neighborhoods in San Diego tend to appreciate at the same rate over the long run?” Answer: I agree that most San Diego neighborhoods should appreciate at about the same rate… unless there’s what I’ll call a
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A Quick Rundown of Credit Score Ranges

“Do you know anything about credit scores? My credit score is 872 but I heard the highest possible score is 850…” Answer: Congrats for having such a high score. But you’re right in that the maximum score for home loans is 850. There are 3 types of FICO scores with their own ranges of possible
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What Happens to the Lease When Selling Your San Diego Home

“Hey Gary. We want to sell our parents’ old La Jolla home in the Muirlands area. The thing is it’s leased through the end of July. If we sell, what happens with the lease? Do you think a buyer will just take it over?” Answer: Leases “run with the property,” not the owner. That means
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Signing a Buyer-Broker Agreement

“Hi Gary. It’s been about 10 years since my wife and I bought our home. We recently met with an agent to talk about finding a bigger home. When we were done, he asked us to sign a Buyer-Broker Agreement. I’ve never heard of this. What do you advise?” Answer: A “Buyer-Broker Agreement” outlines how
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Should You Agree to a MERS Foreclosure?

“I have been receiving your newsletter via email for some time, and have received some really good information, very informative – Thank you. I was approved for a modification and they’re asking me to sign something agreeing that MERS has all rights to foreclose, etc. I want to ensure I am not signing my life
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Don’t Let Fluctuating Prices Control Your Decisions

“I could have sold my San Diego home in 2005 for $600,000, but now it’s only worth $475,000. I don’t want to take such a big loss.” Answer: (Question from reader who paid $290,000 for his home in 1998.) You need to have a short memory. What you could have gotten was an unrealized number
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Tips for Buying a Cheap San Diego Home

“We’re trying to buy our first home, but just can’t find anything we can afford in a safe area. Any ideas?” Answer: Here are a few ideas for you: 1. Buy a small, basic, inexpensive condo in an ugly complex. 2. Buy a duplex with friend or family, each living on one side. 3. Buy
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Have FHA Loans Become More Expensive?

“I heard FHA loans have become more expensive. Is that true?” Answer: They’ve become both more expensive and cheaper. How could that be? Several months ago, HUD (Dept of Housing and Urban Development) changed how they charge the “MIP” or Mortgage Insurance Premium on FHA loans. The upfront premium due at closing has been trimmed
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