What about the 1031 Exchange 45 day Identification process?
“Hello Gary… We’re interested in selling our investment properties, we have a duplex in Bankers Hill and 3 condos in Mission Valley. We like the 1031 exchange concept. However, we are scared off by the 45 day identification process.”
***ANSWER:
I understand the hesitation due to the 45-day […]
Negative Amortization
“We’re starting to shop lenders and loans before we buy a condo in University City. One gal we talked to told us about a loan that has negative amortization. What exactly is that, and is it something we should avoid?”
***ANSWER:
Some adjustable loans allow payments that don’t cover all the interest due, thus […]
Real Estate Fees:
You Realtors are overpaid and make way too much money! When I sell this summer there’s no way I’ll pay all that. I’d like to have your job. Why should a Realtor make 6% profit when all you guys do is run some ads, stick up a sign, and wait for someone […]
Open House
“Hi Gary, We’re starting to look for a house in either San Diego or Chula Vista. We saw one that just came up for sale down our street and we’re waiting for the open house so we can see it. If we like it, can you help us buy it?”
***ANSWER:
Yes, we can […]
I need some refinance advice:
When I bought my home in East San Diego two years ago, I had marginal credit and had to pay a higher rate. Now my credit score is way up and I’m thinking of refinancing for a lower rate. Do you agree with the ‘2% rule’ that says you should refi […]