Issue #211
In This Issue
Welcome / This Week's Special Offer
Welcome To The Latest Issue
Happy Cinco De Mayo! Did you know that “El Cinco De Mayo” has nada* to do with Mexican Independence Day? Wikipedia.com says it “commemorates the victory of Mexican forces led by General Ignacio Zaragoza over the French expeditionary forces in the Battle of Puebla on May 5, 1862.”
(*Attn gringos: “nada” is Spanish for “nothing”.)
Want A GREAT DEAL On A San Diego Home?
I’ve seen some spectacular values, especially on condos, up to 20% below the prices of just 6 months ago. If you’ve been thinking of buying, this may be your window of opportunity. Call me at (858)457-KENT and we’ll answer your questions, email you homes in your preferred area and price range, and show you homes that fit your needs. And see the free report below…
JUST-RELEASED FREE REPORT:
7 Savvy Ways You Can Profit & Plunder Buying San Diego Real Estate Today
It’s a great time to buy a home or invest today. Prices are “soft”, sellers are motivated, and mortgage rates are still low, for now. Don’t miss the boat by waiting. Discover smart ways to seize this opportunity to profit and save big. Get this free special report hot-off-the-press and written by yours truly.
Call (800)748-1340 to have this sent to you FREE via U.S. mail in 72 hours. Call 24/7; free recorded message.
True Story: Stars In My Eyes
When I was but a green Realtor in 1985, out of the blue an investor group asked me to sell 72 condos for them. They said they’d researched values and just needed me to write a letter confirming them. Figuring they’d don’t their homework, I excitedly agreed. Using my letter, the group then marketed the condos as 2nd homes to Hong Kong and Australia residents. Problem: I soon realized those prices (all of $70,000 as I recall), were 25% too high. Naïve but not dishonest, I told the investors to drop their prices and stop using that letter or I’d cancel the listing. They refused, so I cancelled all 72 condos. …I heard they ended up giving the condos back to the bank.
Know Someone Who Owes Too Much To Sell?
Are you or someone you know unable to sell because you/they owe too much? I may be able to help. In the early 90’s people called me the “Short Sale Expert” because I helped almost 200 people negotiate with their bank to allow a sale. Call me at (858)457-KENT for a quick, confidential phone consultation.
Cashflow Apartments With No Management Hassles!
Want a hands-off real estate investment with positive cashflow AND appreciation? I've found a great opportunity that my wife and I are personally investing in, as have 25 of my clients. If you have $100,000 to $3,000,000 to invest and want to know more...
Call me at (858)457-KENT or CLICK HERE for FREE SEMINAR info
FREE MLS Online Search For A San Diego or Riverside Home
To search for a home right now, click on: Free MLS Homesearch
Another Real Estate Myth Exposed:
Myth: “Pools don't add value to a home."
Reality: Although many people will NOT buy a home with a pool, pools do add value. A very rough rule of them is that a pool in good condition adds about 1/2 the cost of installing a new one.
Gary's Real Estate Seminars
It’s Back…
FREE SEMINAR June 28 / Wednesday 6-8PM
At "Forum Hall" at the UTC Mall in University City
"Discover Exactly Where I'm Investing MY Money In 2006"
Positive Cash Flow Apartments With Appreciation & ZERO Management
- Want to build wealth through real estate?
- Want to buy real estate 10% below market value?
- Want an easy, hands-off investment you don’t have to manage?
- Want to enjoy a consistent positive cashflow?
- Want real estate that will appreciate?
- Want your only responsibility to be cashing your monthly check?
This is the best real estate opportunity I’ve found in 22 years in the business.
I believe in it so much that my wife and I are investing a bundle of our own
money. Over 2 years, 25 of my clients have invested and every one I talk with
reports profits equal or better than promised. And 8 more are investing this
month.
If you have 100K to 3M to invest and want to find out more about this
opportunity…
CLICK
HERE for flyer, more info, & free sign-up
Sandwiches & drinks provided + free dinner drawing. No obligation. Come, listen,
ask questions, then you decide…
To RESERVE YOUR SEAT at this free presentation now,
click
here or call (858)457-KENT!
Homebuying Question
"Hi Gary. I’m currently renting
near UTC with a lease through December. I wasn’t really planning to buy, but my
girlfriend wanted to go out and look at homes. We’ve seen several at good prices
that we can afford. So now I’ve got the bug and want to buy before rates go up.
But I’ve got that lease. Any suggestions on how to get out of it.
***ANSWER:
If you’ve been a particularly good or (ironically) bad tenant, your landlord may
be wiling to let you out of your lease early.
We’ve had many clients simply ask their landlords nicely to let them out of
their lease early and gotten a “yes”. Others have offered to help find a tenant,
have actually found a tenant, or offered to pay an extra few weeks of rent and
gotten their landlord’s OK.
Ask, and ye might receive…
"Last time I sold my home, I moved out the day we were supposed to close and got burned. The buyer had loan problems and the closing was delayed for 3 weeks. I got stuck making payments on an empty condo. Now I’m planning to sell my house and want to protect myself so it doesn’t happen again. What do you suggest?”
***ANSWER:
Two suggestions:
#1- I routinely advise my clients to try to get 72 hours in the home after closing for precisely the reason you stated. We’re successful about 9 out of 10 times.
#2- Use a skilled, experienced agent who’ll manage your sale closely. Rarely are sales suddenly delayed on the scheduled closing date without warning. Your agent should have warned you of a possible delay so you didn’t move out.
Investing or Financing Question
"Hi Gary. My wife and I want to sell our rental condo in Mission Valley and buy a triplex or fourplex in North Park. I know I can avoid taxes by doing a 1031 exchange, but I don’t know how they work. Can you enlighten me? "
***ANSWER:
I’ll be happy to…
There are 3 common kinds of IRC 1031 tax-deferred exchanges: concurrent, delayed, and reverse.
A CONCURRENT exchange means you close escrow on your sale ("downleg") and your purchase ("upleg") at the same time.
More common is the DELAYED or "Starker" in which you close escrow on your sale first, then close escrow on your purchase later. You must “identify” your upleg within 45 days of closing your downleg. And you must close within 180 days of closing your downleg. These exchanges cost around $1,000.
Relatively new is the REVERSE exchange. In this, you close your upleg before closing your downleg. These require greater financial resources as you won't yet have cash from the sale to complete your purchase. Similar to delayed exchanges, you must identify your downleg within 45 days of closing your upleg. And you must close your downleg within 180 days of closing your upleg. Reverse exchanges cost an extra $5,000+ to accomplish.
In all exchanges, you must have an equal or greater loan on your upleg and put all your proceeds in. If you take cash (called "boot") from the sale or have a smaller loan on your purchase, you'll be taxed on the difference.
You must follow other rules too. For more details see your tax advisor and also feel free to call me at (858)457-KENT.
Hot Properties: Call Now On These Hot New
Listings & Not-Yet-On-The-Market Properties
|
THIS WEEK'S FEATURED PROPERTY! | |
 |
Cozy Clairemont Home Amazing price for a cute
3BR/2BA townhome with garage |
|
For information on other Wonderful Homes Click here. | |
"COMING SOON"
(Click Contact Me to be contacted BEFORE these properties hit the market!)
- Lemon Grove – Remodeled 1700sqft home on over 1/4 acre. Quiet street, 2-car garage, stunning kitch. 480-520K Contact
Me
- North Park – Beautiful, high-end, just remodeled & converted condos:
1BRs, 2BRs, 3BRs. From the high $100s!
Contact
Me
- North Park – Duplex: 2BR + studio. Ideal to live in one & rent the other. Should be under $500K… Contact
Me
- University City – Stunning & spacious “west end” home on quiet street w/ lovely views. Details & price to follow. Contact
Me
- USD/BayPark – New 3BR/2BA condo conv, 4 available, owner will remodel & decorate to you specs! 499-549K Contact
Me
NEWLY LISTED (Your Home Here!)
- Bay Park – Attractive price for this 1400 sqft, 3BR house in “Overlook
Heights”. More details & price to follow…
Contact
Me
- Clairemont – Amazing price for a cute 3BR/2BA townhome with garage,
FPL, large patio/yard & remodeled baths. Mid/high 300’s! Contact
Me
- Bonita area – Cute 2BR/2.5BA condo w/ oversize garage, inside laundry, FPL, tennis. Walk to Plaza Bonita: 355-375K
- Carlsbad – Newer 1766sqft, 3BR/2.5BA “Harbor Pointe” home on culdesac near beach. Remod kitchen w/ granite. 695K-705K Contact
Me
- Clairemont – Cute, clean 3BR/2BA home w/ 2-car garage, FPL, dbl-pane
windows, lots of upgrades, nice yard: 475K-525K
Contact
Me
- La Jolla – Cute 2BR/2BA condo end unit. Offers hardwood floors, new carpet, xtra windows, security garage: 430-470K Contact
Me
- La Jolla – Newer 2BR/2BA condo, heart of downtown La Jollawalk to shops, restaurants! Marble, granite. 650-725K Reduced! Contact
Me
- Mira Mesa – Sunny 2BR/2BA top-floor corner/end unit w/ redone kitchen, dbl-MBR floorplan, large patio, quiet location: 315-335K
- Mission Hills –6251 sqft view homesite on culdesac! Ready for you to build your custom home. Great area. Price cut to 229K!
- Mission Hills –7500 sqft view homesite on culdesac! Ready for you to build your custom home. Great neighborhood. 239K! Contact
Me
- Mission Hills –7500 sqft view homesite on culdesac! Ready for you to build your custom home. Great neighborhood. 239K! Contact
Me
- Mission Hills – Build your dream home on this 9500 square foot buildable view lot. Price cut $96,000 to just $249K!
- Mission Hills - Attention Contractors / Developers / Investors! Build up to 11 homes on this 30,753 sqft canyon view lot. 849K!
- Pacific Beach - Development Opportunity! 3BR home, approved plans to build 2 condos. Resell or rent. Reduced: 775-850K
- Pacific Beach - 5BR/3BA “Harbour Heights” home on culdesac. Family & bonus rooms, a/c, FPL, 3-car garage! 960K to 1.06M
- Phoenix, AZ - 12 apartments, 4x1BR, 4x2BR, 4x3BR. Fully renovated.
Condo conversion opportunity? $1.068M.
Contact
Me
- Phoenix, AZ - Cashflow apartments, zero management, 15% under-market!. 1031 exchange OK. $100K to $2M down.
- San Marcos – Large
1060sqft 2B/1.5BA condo w/ garage & private patio. Pool, spa, tennis pets
allowed. 295-329K Contact
Me
- Scripps Ranch- Handsome newer home
on quiet street! Offers 19' ceilings, travertine, hdwd floors, family room.
700-750K. Contact
Me
- Vista –Secluded hilltop 4br/3ba, 3000sqft newer home on 1/2 acre! 3-car garage, panoramic views, more! $749,999-$799,999
Call me at (858)457-KENT to find out more or arrange a private showing...
Thank you Kevin C. for referring
your parents to sell a condo…
Have a great week...
"The Agent You See EVERYWHERE"
All-Time #1 Agent/Team In San Diego County for RE/MAX
22 Years Experience -- 3,000+ Homes Sold
Gary Kent Team --- RE/MAX Associates
(858)457-KENT --- (858)457-5368
GaryK@GaryKent.com -- http://www.garykent.com/
Due to production and shipping expense, free items are available only to residents, owners, and people planning to purchase real estate in San Diego.
