Real Estate Q & A
Feeling hopeless about finding a house
Jordan
Home Buyer
San Diego, CA
Hello. It appears this website is pretty active, and wanted to get some advice from anyone/everyone. Here is the deal: I am 28 yrs old, single, very good income, no debt, and a 783 credit score. I can put down at least $100k for a down payment, yet still can't seem to find the right home. I've looked downtown, PB, OB, La Jolla, and Hillcrest. Ideally, I want to live downtown, but can't imagine spending ~$450k for a tiny 2br apt w/ HOA dues of $500/month. Is it really not possible to find a cool and fun place to live (and that's also a relatively good deal)? I guess I'm overwhelmed by this process as I've looked and looked and looked, but just can't seem to find anything that I really love. Any/all helpful insights would be appreciated (even if it's just saying, "wait it out another 1 or 2 yrs until the market bottoms out')...thanks, Jordan
Jordan,
Don't give up hope. There are great deals coming on everyday especially with more foreclosures entering the market in the coming months. The areas you prefer are the most desirable of San Diego and it should be of little surprise that there haven't been huge price drops in these neighborhoods. Downtown is its own micromarket and the other areas are already established neighborhoods. You as a buyer are in an enviable position with a large downpayment.
Why wait a year or two? I'm not a psychic but I do know that It is better to buy in a declining market than in a rising market. When we do hit bottom we'll know it 6-9 months later. By then the deals will be gone. Have you been writing offers? Why wait for the price to drop. Ask for it now! A motivated seller might actually accept a lower price offer.
I have a few questions for you to ponder. Does the home you seek really exist? What do you consider a relatively good deal? Do you plan on living in your home for more than a couple of years? You need to take a good hard look at your expectations and your short and long term goals. My advice is to be ready for opportunities and keep your expectations realistic. The right place will come along. It always does. Best of luck.
Mahalo,
Gil Kahele "Mr. Aloha"
Testimonials
Me, Roxanne, and Bjorn
“My fiance and I met Gil at an open house. We immediately felt the personal touch that Gil gives to each of his clients. WE told him what we were looking for in a new home, and rather than just sticking to the facts we gave, he was a creative thinker and found us a home that we could really mold to fit our style and flare, right in the neighborhood we wanted!!
Gil is a superb agent and now friend, who put the needs of his clients as his #1 priority. The 3am emails paid off because we love our new home!!! His real estate savvy and knowledge of the market allowed our purchasing process to be as smooth as possible. I highly recommend Gil for all your real estate needs!!!” September 9, 2008
Roxanne Eisermann
"Gil spent well over a year helping us find and purchase our first home. We had a specific style and needs that needed to be met and Gil was up for the commitment it was going to take to meet those needs. When we finally found our place and went into escrow, issues arose when our lender found that the property we were try to buy turned out to not be FHA approved contrary to what the listing stated. Gil stepped it up and assisted our loan agent in getting the entire complex FHA approved. It was an up and down roller coaster trying to make this happen but in the end it was all approved. Now, not only did we get our home, the value of the entire property will go up benefiting us and the current home owners from this great accomplishment that Gil played an integral part in. Gil spent countless hours with us and was always there when we needed him day or night to get things taken care of and get us into the right place for us. "Thank you Gil for helping us find the perfect home - we couldn't be happier!" July 26, 2010
Cher, Robert and baby Wyatt Battoe
“I recently bought a home using Gil as my agent. He was on top of things from the very start. Gil is very knowledgable about VA loans and that came in really handy while navigating our way through the loan proccess! I was informed of the progress throughout the entire process and could'nt have been more pleased with his work ethic. Gil has a high level of integrity that is important when buying or selling real estate and is a well informed agent!” June 23, 2010
Scott Loska
"Gil has been our family agent for a while now, years actually. He has an in depth knowledge of the area he works and understands what is special about the properties he's either helping sell or buy. He also recognizes and exploits the notion that a potential buyer may not necessarily be living just in San Diego. His enthusiasm and willingness to understand and work with his clients is what sets him apart. In our most recent experience Gil negotiated a fantastic price on my Mission Hills purchase. It may have taken months to finally decide what to buy, but it's worth mentioning that the house we bought after 3 months of shopping was the first one he showed us. I guess we should have listened!!"
Reid Bissonnette
Dear House-Hunters, I know that looking for a house can be a real challenge...especially if your looking at short-sales and foreclosures. I just moved here from the Midwest and started looking for a house. Without the help of Gil Kahele, I would have been lost and very discouraged. He took me to the right neighborhoods, showed me as many house as I wanted to see...and he knew as soon as they went on the market (or even before). His knowledge of short-sales and foreclosures was just what I needed. Anyway, I bought one! I love my new house....Thanks Gil! Traci...new home owner!
Traci Gares
"We love our new home and want to thank you again for enduring this journey with us. Not only did we find a great real estate agent, we also began a wonderful new friendship."
Again, thanks
Dolores & Scott Snyder and Winny, Justi, and Gus
"We couldn't be more happy with the personalized service, professionalism, and above all understanding that Gil showed during our extraordinarily fast sale. After consulting with Gil on setting the market price we went on the market and were in escrow in five days. Following that, and including some twists and turns, our escrow closed on time in 30 days.
Gil was thorough, extremely knowledgeable, and always willing to take the time to talk us down when we were nervous about the market, the close process, the current lending environment, or any number of other things. And, he even babysat our car after we left town in a u-haul while our car waited to be picked up by the tranport company. Now THAT'S service after the sale. Thanks so much Gil!
Shawn Gustafson & David Pannell
“I don't even know where to begin with this recommendation! My husband and I met Gil at an open house when we were very unhappy with the lack of service we were getting from our current agent. Gil convinced us that we deserved more in an agent and he fought for our business. We saw his dedication and work ethic in this initial "interviewing" phase and were soon to jump on the Aloha train.
Gil is knowledgeable in every step of the process, thorough beyond belief, and one of the hardest working individuals I have ever met. He even painted the trim on our house while in escrow to ensure that it passed the final inspection.
But above all, he is truly a great person, who cares about your needs and wants in a house. He guides you without being pushy and helps you land the house that is meant for you. My husband and I closed on May 22nd and we couldn't be happier. It was worth the wait. Thanks Gil!”
June 3, 2009
Corrine Hirt
"I have had the pleasure of working with Gil Kahele on the purchase of a property in the Banker’s Hill area of San Diego, California.
His professional approach to the process was outstanding. He was a part of every part of it from the initial consultation, developing the list of possible properties, arranging the showing, the eventual decision and the, some-what involved final documentation resulting in the purchase.
During this period of several months he worked diligently to find three properties that were of interest to me. He saw me through the steps of making offers in the confusing real estate market of 2008 including attempts to purchase a foreclosed property and eventual the difficult process of acquiring a short sale residence.
Gil manifested not only the professional attitude required during this time, but was available for conversation and advice at every crossroad.
I whole heartedly recommend Gil Kahele to any individual or firm looking to sell or buy property and consider him a resource, advisor and problem solver."
March 13, 2009
John Fazio
“Gil was extraordinarily helpful when we purchased our new condo. His sensitivity, diligence, energy, and sense of humor made working with him a joy. We're very happy with Gil's work and we love our new place!” October 2, 2008
Travis Dixon
“Gil took on the role as our Realtor understanding we were eager first time home buyers. We saw approx. 22 different properties in one week! After placing 2 offers, one was accepted and we went into escrow! He was awesome at disclosng information that we would have not thought of without his knowledge. Being first time home buyers, we had LOTS of questions! Gil answered every one himself or connected us with the proper professional to address our concerns.
He truly went the extra mile proving his patience while showing us numerous properties and listening to our needs and wants. Regardless of our budget, Gil took us on as he would any client and treated us fairly and always advised us on what was in our best interest as first time home buyers. We would highly recommend Gil to any first time home buyer or any other individual looking to buy a home. He lives up to his name, "Mr. Aloha" and as in the Hawaiian tradition, he makes you feel as if you're "ohana" (family). Gil, Mahalo for helping us find a home that fit us and our needs!"
Warmest Regards, Scott & Ben
“Gil is a fantastic realtor who worked with us while we were out of state to provide us with the exact type of property we were looking for. He continued to work to allow us to purchase our home through many shortcomings on the part of the seller. He continues to stay in close contact and we consider him a friend as well.”
David Pannell
“Mr. Kahele is a very professional individual who possesses the ability to listen and assess the needs of his clients and tailor a solution that will fit those needs. He provides expert guidance along the way and most impressively is always available to answer any question and provide any resource needed to further explore additional options and possibilities. Most importantly, he does so with a very friendly and trustworthy format.”
Manuel Quintero
"Gil helped me find the perfect condo. It had everything I had on my wish list and he even helped me find my lender. Gil made me feel like I was his top priority, and made my first home purchase experience a great one. Thanks"
Dan Doyle
"I am a professional real estate investor who was living on the East Coast when I sold my California investment property. I had to rely totally on Gil Kahele to find me a replacement investment property within my 1031 time frame and within my budget. Thanks so much Gil."
Ilona Kranzdorf
"I check your blog more often than you can imagine.......it is very interesting and informative to me.........thanks."
Dr. Evelyn G. Ascough
"Gil is without a doubt the best real estate agent I have worked. I was looking for a specific property and Gil stuck with me during the entire process. This was not easy because of the requirements I insisted on.
Thanks Gil, we are both very pleased with the our new condo."
Enrico & Giovanna Gorman
Equal Housing Opportunity. Equal Opportunity Employer.
