Bank of America Messed Up the Short Sale Approval But We CLOSED - 03/31/08 08:36 PM
I swear, some transactions just come in under the wire. No matter how many precautions you take, and no matter how many times you try to anticipate what could go wrong and fix it before it does, something always happens. After finally receiving the short-sale approval letter, I sent it to escrow on Monday and asked them to immediately check the payoff numbers against the HUD-1. By Wednesday, when the buyer apparently went in to sign loan docs, that's when I heard back from escrow. The word was the payoff was $2,000 short.
You know where I'm going with this, right? Because … (17 comments)

Bank of America Approved the Short Sale -- Peel Me Off the Floor - 03/24/08 01:59 PM
I just about fainted this morning when Tony called me from Bank of America. He found the misplaced paperwork. He said the short sale has been approved. He went on to say he is handling 400 files and is swamped. He also said he had the option of approving a lower commission, but he approved the higher percentage. I started to feel very dizzy.
It's fabulous news that the sale is moving forward now. Tony called the seller to explain there will be a judgment situation, and apparently Bank of America will negotiate the unsecured promissory note separate from the short-sale … (31 comments)

Bank of America Says If It Goes to Foreclosure, It Goes to Foreclosure. So What? - 03/22/08 11:50 AM
I have a seller who wants to pay Bank of America the shortfall difference on a short sale, but B of A says let it go to foreclosure. We don't have time to talk about it.
I realize that many agents are struggling with short sales right now. Because the system is screwed up, and some banks in particular are almost impossible to work with. Bank staff are overworked, probably underpaid and buried in paperwork. I tell my buyers to throw out the short sale listings they get from me, because they're not worth the effort. Buyers can purchase a home … (176 comments)

How Many Keyboards Do You Buy Each Year? - 03/18/08 08:40 PM
I ask because it seems I end up destroying buying a new keyboard every year. I can't believe it myself. I'm such a slob that I continually ruin keyboards. I know that electronics and moisture don't see eye-to-eye, yet I keep hosing my keyboards. Is there no hope? Am I the only one? 
There are a variety of liquids at my disposal, which I can pour into my keyboard. Kind of depends on the time of day. Early morning? The most likely culprit is coffee. Like this morning. I thought my cup was empty, yet I managed to knock it over. I … (17 comments)

Agents Who Credit Commissions to the Buyer - 03/17/08 11:40 AM
Buyer rebates are a complex and easily misunderstood aspect of some real estate transactions. Some buyers believe that agents routinely kickback part of their commission to the buyer, but the bulk of agents do not.
There are situations that arise in a transaction, however, that make a credit necessary, if simply to keep the peace. For example, say, during the final home inspection walk-through, the buyer notices that the refrigerator, which was supposed to remain with the home, has been removed by the seller. This happens more often than you would think. So, the buyer demands a new refrigerator. The seller, in … (10 comments)

Sacramento Market Still Moving UP! - 03/14/08 09:06 PM
I can't believe this. Look at that upward spiral for February. The pending sales in Sacramento are moving up. Inventory is reducing.
Investors are coming back into the market, but they are always the first to recognize market conditions and act on them, way before home buyers figure it out.
I was hoping this trend from January would continue, and this is proof that it's not just a fluke. The market is rebounding.
The question is whether it will continue. Generally speaking, April, May and June are the hottest months for real estate sales in Sacramento, and I'm not just yakking about the weather. … (5 comments)

Buying, Fixing Up and Selling, Five-Part Series - 03/14/08 01:17 PM
I want you to know that I don't often hold a hammer in this manner. My husband shot this photo toward the end of a long day when I wasn't paying attention to what he was doing; I just wanted to be finished hammering nails into the my new garage framing. He wasn't too pleased when I suggested we build our own garage, because he doesn't get involved in home improvement projects. If you ask him, he'll tell you that he "hates wood." I suspect he hates it even more now.
But I, on the other hand, absolutely adore fixing up homes. … (6 comments)

Plucking Blogs off Active Rain - 03/13/08 08:32 AM
On the topic of crooks, I have noticed that certain Web sites, one of which is realestatepick.com, has been swiping blogs from Active Rain and posting them online. They do this because they receive revenue from selling advertising on their site.
For some reason, the pictures are not transferring, but some of the alternate titles are, which is how I figured out where they got the blogs. They just copy and paste. Of course, I track links to my About.com site on Technorati, which is how I find some of these. If you don't insert links in your blogs, you won't find … (11 comments)

Another Scam Hits Real Estate Agents . . . And the Public, too. Look Out for SYS INC. - 03/12/08 09:50 PM
In early February, I warned you about a scam involving Craigs list. That scam seems to have reached epic proportions, since it's all over the Internet now. Several agents at my company have also had their identity stolen in this manner.
Well, just today I received my credit card statement. There was an unauthorized and unknown charge of $9.05 from SYS Inc. At first, I figured I would just pay it because it seemed too much of a hassle to track down, and I was certain I had authorized it. But on a lark, I Googled Sys Inc and it's phone … (8 comments)

I'm Not Gonna Take It, Never Did and Never Will - 03/11/08 02:00 PM
I woke up this morning with a song running through my head. I could hear the guitar licks before my feet hit the ground:
We're not gonna take itWe're not gonna take itWe're not gonna take itWe're not gonna take itWe're not gonna take itNever did and never willWe're not gonna take itGonna break it, gonna shake it,let's forget it better still
Now, I realize not every client wants to hear the truth -- whether it's the truth about purchasing power, inventory, comparable sales or whether objectives are realistic. However, I am generally very direct. I call it like I see it. Not … (12 comments)

Why Some Listing Agents Won't Show You the Listing - 03/09/08 12:40 PM
Don't be surprised if the listing agent you call doesn't rush right out to show you the listing. Even in buyer's markets, where agents are courting buyers right and left, not every agent is going to drop what she is doing to accommodate a showing request. For example, when buyers call me and ask to see property, it doesn't matter whether it's my listing they want to see or another agent's listing, I don't have the time to spare to show homes to an unqualified buyer. At the very least, a buyer should have a prequal letter if not a loan … (5 comments)

Sacramento FHA Loan Limits Just Jumped More Than $200,000 - 03/06/08 11:27 AM
Great news, Sacramento home buyers. The FHA loan limits for Sacramento County have increased. The maximum limit was $362,790, and it was increased yesterday to $580,000. FHA loans are excellent tools for first-time home buyers, especially since the down payments are 2.85% of the sales price. Years ago, sellers used to balk at a buyer obtaining an FHA loan because sellers were worried that an FHA appraiser would require tons of repairs. That is no longer the case. Restrictions have relaxed, and FHA loans are easy to process.
FHA loans are also popular with home buyers because FICO scores do not apply.
Here … (0 comments)

5 Steps to Take Before Selling Your Home - 03/05/08 10:11 PM
A lot of times, sellers get ideas into their heads and act on those ideas before calling a real estate agent and before putting their home on the market. These ideas can cost a seller a lot of money, regardless of how well meaning. The thing is most sellers don't regularly sell a home day in and day out. Most of them interact with agents or the buying public maybe two or three times over a few decades. I say why not take advantage of a professional's knowledge before making costly mistakes? A full-time and experienced agent is your best hedge … (0 comments)

The Complete Home Selling Process - 03/03/08 07:31 PM
I've known sellers who thought all they had to do was call me to come over and list their home, and it would sell the following day, maybe close a week later, freeing them to sail into the sunset or head for Tahiti carting a boatload of cash. And it just doesn't work that way. Not in the real world.
For that reason, I've put together a map of the complete home selling process. Although the order of my 15 steps might vary a bit from state to state, for the most part, all home closings work the same way.
First, … (3 comments)

 
Elizabeth-weintraub-500x500 Rainmaker_large

Elizabeth Weintraub, Sacramento Short Sale Agent, Land Park, East Sac, Lyon RE

Sacramento, CA

More about me…

Top 1% at Lyon Real Estate #00697006

Address: 2801 J Street, Sacramento, CA, 95816

Office Phone: (916) 233-6759

Cell Phone: (916) 233-6759

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Broker-Associate at Lyon Real Estate, midtown Sacramento. Selling since 1974. Home Buying Guide at About.com. Sacramento short sale agent.
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Author Bio: Elizabeth Weintraub is a Sacramento real estate broker, author, home buying guide for About.com, a Land Park resident, and a Land Park agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully closes short sales throughout Sacramento four-county area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you.

 


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