Cap Rate vs. Gross Rent Multiplier
“What’s the difference between a cap rate and the gross rent multiplier?”
***ANSWER:
Cap rate is the opposite of a price/earnings ratio, used with stocks. Here are some random cap rates and GRMs in San Diego:
Cap\GRM Area
4\15 Pacific Beach
5\13 North Park
5.3\12 El Cajon
As you can see, as cap […]
Home Pricing Advice
“Hi Gary. We’ll be selling our condo in La Jolla next month. We know the comps say it’s around 700K, but we’d like to shoot for 725-750K. We’re willing to hold out even if it takes several months to sell. How long should we expect it to be on the market?”
***ANSWER:
I […]
Discount Brokers
“What’s this I see around San Diego about 1% and 2.5% real estate fees to sell a home. I know they’re discount brokers and don’t do very much, but how can they charge so little and stay in business?”
***ANSWER:
Many of them don’t. There’s a real revolving door of these reduced service brokers starting […]
California’s Proposition 13 limits your property taxes to 1% of the assessed value + voter approved local bonds, all totaling just under 1.2%.
This makes your monthly property taxes easy to calculate: approximately 1/10 of 1% per month. For example, a home purchased for $600,000 has approximate taxes of $600/month.
Note #1: The assessment can go […]
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