San Diego Real Estate Blog Gary Kent Team

“I’m thinking of remodeling our kitchen. We plan to sell when our kids graduate high school in a couple of years and I’m curious how much the remodel will add to the value.”

***ANSWER:
I’m asked this a lot.

The answer: it depends.

It depends on:

1. How much your kitchen (or bath or ???) needs it
2. How nice of a job you do
3. To some extent, if the quality is commensurate with your neighborhood

So I can tell you that the average kitchen remodel will bring you about 85% of what you put into it, but that’s not really a number that you can automatically apply to your home.

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“Do you usually get the oven and refrigerator included when you buy a home?”

***ANSWER:
Unless otherwise agreed in the contract, all built-in appliances are automatically included. Be careful about stoves that look built-in but are actually slide in. Tell your agent to list them in your offer.

Freestanding appliances like refrigerators, washers, and dryers are often included, but not always.

And here’s some advice could save you an unpleasant surprise:

Any personal property you want included MUST be listed in your offer, even if they’re mentioned in the marketing or disclosures or someone tells you the items are included. If they’re not in the contract, there’s a good chance you won’t get them!

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“Not only do I not like paying mortgage insurance, it isn’t even tax deductible. Can you still get zero down loans without paying mortgage insurance?”

***ANSWER:
They’re hard to come by. But my lender has something unique they call “tax advantaged mortgage insurance” or TAMI for short.

Instead of charging you mortgage insurance, which is rarely tax deductible, they charge you a slightly higher rate. The interest is generally tax-deductible, while mortgage insurance isn’t.

It’s a pretty good loan program. If you’re interested, call me at (858)457-KENT and I’ll put you in touch with my lender.

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“Does pest control clearance cover just termites, or does it also cover rats and ants, etc.?”

***ANSWER:
The term “pest control clearance” is a misnomer, as it implies all kinds of bugs, rodents, and other pests will be eradicated.

In reality, a pest control clearance covers “wood-destroying pests and organisms”, which are mainly termites, dryrot, and fungus.

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“I’m looking for a little investment house or condo in San Diego county. Something that’s a real bargain. What areas do you recommend?”

***ANSWER:
In my opinion, the areas that have seen the biggest price drops are, in very rough declining order:

1. Spring Valley
2. Paradise Hills
3. EastLake (east Chula Vista)
4. Oceanside
5. Escondido (parts)
6. Logan Heights
7. East San Diego
8. Encanto
9. El Cajon (parts)
10. San Ysidro/Nestor

This is NOT based on any statistics, just personal experience.

Most areas dropped due to too many bad-credit subprime loans. But EastLake’s drop is more due to much of the area being built and sold near the market peak 2-3 years ago. People put zero down, got a short-term low rate adjustable, then couldn’t refinance or sell because they were upside down.

I’d look at investing in these parts of town.

And I have PLENTY of foreclosures in these areas, so call me at (858)457-KENT and we’ll find you a good deal.

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