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A Nail-Biter Tale of a Wells Fargo and Citimortgage Short Sale in Sacramento - 02/29/12 07:09 AM
A short sale seller called me yesterday after his short sale in Rancho Cordova closed. He reminded me that he was unable to close this short sale with his previous agent. He thanked me profusely for closing this short sale for him. I had forgotten that this was listed before with another agent. That's how long I've hung in there for this seller. But it's all coming back to me now.
OK, I don't remember why his previous Sacramento short sale agent couldn't sell this home. Maybe he sold it but couldn't close it? Maybe he had little short sale experience? … (4 comments)
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Will a Buyer's Agent Tell a Buyer Not to Buy Her Dream Home Because the Agent is Not Paid Enough? - 02/28/12 07:23 AM
The thing about being a Sacramento short sale agent is the surprises just keep coming. No matter that I've been in the business for more than 35 years, I still haven't heard it all. Even though I've been selling short sales pretty much exclusively going on 7 years. See, one of the reasons I write this blog is because there is an abundance of new stuff every single day to blog about. There's always something horrible happening. It's the way of the short sale, grasshopper.
For starters, all of my listings contain verbiage in MLS that discloses to buyer's agents the … (7 comments)
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How Do You Know That Sacramento Short Sale Will Close? - 02/27/12 08:02 AM
How do you know that short sale will close? I get asked that question from buyer's agents. Why? Because I'm a Sacramento short sale agent. I am not so full of myself that I would presume that every agent out there knows how much business I do. And even if they did know who I was, my success doesn't imply, necessarily, that I list short sales that won't close. We short sale agents can't always call 100% of the shots. But I come pretty darn close to it. My reputation depends on it.
I want a buyer's agent to feel secure … (4 comments)
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The Time to Think About Selling is When You Buy a Home - 02/26/12 08:06 AM
One of the biggest fears sellers often harbor about short sales is what if it doesn't sell? They have those fears because they are not in real estate. When you're in real estate, like this Sacramento short sale agent, you know that anything will sell if the price is right. Even a flooded-out house with mold the size of basketballs will sell. And yes, I've sold one of those, too.
There are a variety of reasons why a home might take longer than usual to sell, though. These are sometimes the reasons that some sellers don't want to hear because they … (3 comments)
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How Did Weintraub Manage to Rank in the Top 1% of all Lyon Real Estate Agents? - 02/25/12 08:12 AM
Lyon Real Estate keeps its awards secret until its annual Awards Banquet. That is why I did not know which awards I would win until yesterday. Apart from being the Number 1 real estate company in Sacramento, Lyon Real Estate has more than 900 agents. To rank in the top 1% means an agent would have to have sold more than at least 891 other agents. It means an agent sells enough to be ranked with the top 9 agents in the company.
Yesterday, I received that honor. It's the first time that has ever happened to me. I know I … (8 comments)
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Bad Odors and Old Carpeting Do Not Sell a Home, Not Even a Short Sale - 02/24/12 07:45 AM
Some people think you don't have to do anything to sell a short sale, much less to sell a fixer upper. I believe that every home deserves a chance to shine and show off its best characteristics. It doesn't matter if it's a short sale or a regular home in which the seller has equity. Because a buyer doesn't really care. A buyer is not buying the previous mortgage. The buyer is purchasing a home. The condition of that home's existing financing is not really important.
As a Sacramento short sale agent, I try to make suggestions to my sellers of … (6 comments)
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The Prompt Notification of Short Sale Act vs. the C.A.R. Short Sale Addendum - 02/23/12 07:50 AM
The unfortunate odds are 9 to 1 that I will receive a short sale offer my sellers cannot accept. That's because buyer's agents are unfamiliar with the C.A.R. short sale addendum. I don't know of any training classes for them regarding the S.S.A, so I am going to provide 2 valuable tips for buyers and their agents at the end of this blog.
First, realize that C.A.R. designed the short sale addendum in such a manner that it is misleading. They did it because they did not want to frighten away buyers. Section 1A refers to the amount of time a … (6 comments)
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At What Point Do You Take a Lowball Offer on a Short Sale? - 02/22/12 07:05 AM
OK, I'd like to answer that question by saying never. But that wouldn't be true. Sometimes we take a lowball offer on a Sacramento short sale. But not often. The reason is the market is so hot some buyer somewhere is likely to pay market value . . . or close enough to it for government work.
Agents are all over the board right now. The other day I had a buyer's agent give me peculiar advice about a Bank of America short sale. He swore that he closed a Bank of America short sale in which the bank didn't care … (4 comments)
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Those Non-Mortgage Recorded Liens Will Kill Your Short Sale in HAFA - 02/21/12 07:34 AM
As usual, the answer is found in the words. I get a lot of emails from people asking me questions about their purchase contracts. They want to know how to cancel, fire, enforce -- an explanation of the rights of a buyer or seller in a short sale, and much of the time the answer is right under their nose. It's in the paperwork. But nobody wants to read the paperwork because that's like, oh, I dunno, being responsible, choosing the smart path and everybody wants the easy way out.
Because I'm a Sacramento short sale agent, I have to stay … (7 comments)
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If You Don't Want a Dual Commission That's Fine Because Agents and Short Sales Are Expendable, He Said - 02/20/12 07:28 AM
Investor is such a dirty word in media. Look at how media is treated on the courthouse steps in Sacramento, trying to film investors buying foreclosures at a trustee's auction. Some of those investors are real estate agents and they act like barbarians. In some ways, the term investor is misleading, too. It infers that these are people who are making money. But an investor doesn't always make money. Just ask those retirees who invested in mutual funds.
When I hear the term investor, I have mixed feelings. Because when a buyer calls me to say he or she is an … (9 comments)
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A Few Words About Zappa Plays Zappa and What We Become When We Grow Up - 02/19/12 08:41 AM
If you ask me, it's a coincidence that my mother was a writer. You can't ask her because she's dead. But if you could, she'd probably say she encouraged me to write. Yeah, right, that's why I have a piece of pencil lead in my left arm. It's where my brother stabbed me with a sharp pencil. He stabbed me because my mother made us all sit down after a family trip, all 4 kids, and we had to write an essay about our trip to Duluth, Minnesota. The person who wrote the best story got a prize.
My brother won … (7 comments)
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Should You Refinance That Underwater Home Instead of Doing a Short Sale? - 02/18/12 08:05 AM
Reporters have asked me this question. Do I believe the HARP refinance program is a good deal for homeowners who owe more than their home is worth? I guess they think everybody is jumping on the HARP refinance bandwagon, but I kinda don't think they are. For one thing, they'd have to have a job. For another, they'd have to have good credit. For yet another, they'd probably have to be incredibly naive. And I think people are smarter than that.
But then I often tend to see the world with rose-colored glasses, as my mom used to say. I believe … (14 comments)
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Even if You Sign a Short Sale Counter Offer You Can Lose the Deal in a Seller's Market - 02/17/12 07:28 AM
I am doing my best to bring more inventory to the market in Sacramento. Especially more listings of short sales. Because, guys, we're running outta homes to buy. It's astonishing when I look at some areas for comps and everything is either active short contingent or pending. The sellers who have the homes for sale rule. People think it's a buyer's market but it's not. It's definitely a seller's market in many areas of Sacramento right now.
Because it's a seller's market, sellers can define how and when they want to sell. It doesn't matter if the home listed is a … (7 comments)
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You May Think You've Seen Cute Puppies Before But Take a Look at This Guy - 02/16/12 10:20 AM
My husband said I was going to put this photo in my blog this morning. I don't know how he knew that. It wasn't my intention when I shot it. But this dog is just such a cute little thing. He's about 5 months old. My husband knows me so well. Yeah, I gotta share this photo. It's just too adorable. He is a schnauzer mix, maybe with chihuahua. I love dogs who are not purebreds because they are so unique. Not another like them, for the most part. But I love all dogs, big ones, small ones and those … (8 comments)
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If You Believe This, I've Got Some Swamp Land in Florida to Sell You - 02/15/12 09:37 AM
The thing about writing about what really happens to you in your life is you don't have to make up anything. It almost seems like cheating. To just write about crap that happens. No embellishments. But that's why I don't have any problem writing a daily blog or coming up with stuff to write about because life happens every single day, whether or not I agree.
It's tough choosing what to write about. So much goes on. Sometimes, it's the very last thing that happened that sticks in my head, which is what I'm choosing to talk about today. I could … (7 comments)
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A Good Reason to Not Lowball a Sacramento Short Sale - 02/14/12 10:01 AM
Some short sale agents in Sacramento might forget whom they represent. In case you're wondering, if you're a listing agent, it's the seller. Because a listing agent has fiduciary with the seller and because MLS requires it, all offers received by the listing agent must go to the seller. Doesn't matter if it's a lowball offer. Doesn't matter if the buyer's agent pecked it out with a dead chicken's foot dipped into blood, all offers go to the seller.
I try to prepare my sellers for the onslaught of offers they will receive. It shocks some. But I send all offers … (5 comments)
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Do Female Agents Have an Easier Time in Real Estate Than Male Agents? - 02/13/12 09:53 AM
What makes people choose a certain real estate agent? God knows we've got enough of 'em in California, for example. With so many agents, what criteria do people use to select the right agent? Well, I'm gonna tell ya. Nine times out of 10 they pick the agent who is there at the time they need an agent. I'm serious. You could be a joker, a smoker, a midnight toker who gets her lovin' on the run, and they'd pick ya.
As a Sacramento short sale agent, I run an ad in the Sacramento Bee every week. Except for yesterday because … (6 comments)
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Which is more work -- a divorce or a short sale? - 02/12/12 11:09 AM
If I am to alienate anybody with my blog this morning, let's start out with a joke I heard. OK, a conservative, a moderate and a liberal walk into the bar. The bartender says Hello, Mitt.
Now we move to lawyers. First, let me say that many, many of my clients are lawyers. I'm not really sure why but I imagine it's because I tend to think first, act second. I don't go around clicking on every "like" button I see. But maybe it's because I like lawyers that I have so many as clients. Or, perhaps we have too many … (11 comments)
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Why Would You Let Other People Drag You Down With Them? - 02/11/12 10:43 AM
You've got to be careful with a sense of humor. Because not everybody finds the same things funny. Fortunately, for me, my clients and I are generally on the same page. Yesterday, a seller asked me if if I would keep her informed of the progress of her short sale. I replied, Uh uh. I am telling you nothing. I'm gonna keep you in the dark, cloaked in confusion. After she finished laughing, I explained that not only will I share every excruciating detail if she likes, but she can read all about it on my website and she can email … (8 comments)
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Why a Preapproval Letter Ain't Worth Jack Crap and What To Do About It - 02/10/12 09:16 AM
There are a lot of agents in Sacramento who watch what I do and copy me. I'd say these guys are pretty smart. Because what I do works. I prove it over and over. As a Sacramento short sale agent, I like to believe I'm fairly competent and good at my job. So, if I tend to set the standard for what a short sale agent should do to be successful, that's OK. I don't mind agents using my methods. I freely share because we're all in this boat together.
Last year I did almost 100 transactions. I'll probably exceed that … (16 comments)
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You May Wonder Why Buyers Are Having a Tough Time Buying a Sacramento Short Sale - 02/09/12 09:54 AM
I've been closing short sales for many years. In fact, I close a huge volume of short sales. Even so, as a Sacramento short sale agent, I still haven't seen it all. I know this to be true because every single day I seem to learn something new. That's part of what keeps my profession interesting. I freely share what I learn in this blog and with other real estate agents. But lately there seems to be a lot of aggression and hostility among agents in Sacramento. I don't know if it's because sales for them have dwindled or maybe it's … (25 comments)
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You Can't Take A Darn Thing for Granted in This World - 02/08/12 10:13 AM
It's not what you don't know that will kill you. It's what you know for certain that you know that will do you in. And when you're a Sacramento short sale agent like me, you get the opportunity to be constantly amazed at crap. It sort of comes with the territory. Believe me, I do not profess to know it all. I don't think anybody can know it all. Not even those who own a Magic 8 Ball. Which has its own website now through Purdue University.
For example, after a long battle with Wells Fargo, we are finally ready to … (4 comments)
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Are Buyer's Agents Allowed to Talk to the Seller? - 02/07/12 09:22 AM
I received an offer last from a buyer's agent for one of my short sale listings in Sacramento. This is a home that just came on the market in a high demand neighborhood. The agent gushed and cooed about how much her buyer loved loved loved this home. He loved it so much that he offered 90% of list price. This is not even worth a comment. But you can't help but figure the agent had a hand in it.
Some agents are struggling with buyers. I hear from those, too. They have a hard time explaining the market. When they … (8 comments)
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Wow -- Look at This Eye Opener of the Short Sale Market in Sacramento - 02/06/12 09:53 AM
You might ask when you look at how many buyers are trying to lowball short sales: are home buyers stupid? Or, are their agents stupid? See, I don't think home buyers are stupid; I suspect they are confused and frightened. Their real estate agents? I bet their agents are just trying to do their job to the best of their ability in a really tough real estate market in Sacramento.
It's not easy for agents in Sacramento at the moment. I say this for myself, yet I am the number one agent at Lyon Real Estate for last month. Yes, … (6 comments)
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Something Old and Something New - 02/05/12 10:49 AM
I'm not afraid to say it. I hate sports. On the other hand, I love high tech. Today will be all about sports. It's not so much that I hate sports as much as I hate the sound of sports. I don't mind guys running around a field in tight pants that show off their assets. It's the volume of the excitement I find objectionable. Not to mention, I was never that girl in high school who hung around jocks. I was with the guys out back of the coffeehouse passing the bong.
Once as a teenager I attended a football … (5 comments)
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Before You Hire a REMAX Agent to Do a DTS Cooperative Short Sale with Bank of America - 02/04/12 10:58 AM
As the hot-to-trot little Sacramento short sale agent that I am, I listed a couple more short sales yesterday. One of those is a Cooperative Short Sale with Bank of America. The thing about this short sale home is it is owned by a lawyer. A lawyer who is sharp enough to hire the best short sale agent she could find and not the agent who Bank of America recommended. She likes my 30-plus years of experience, and she appreciates the fact that I am the #1 Agent at Lyon Real Estate for last month.
I'm not saying that Bank of … (16 comments)
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My Once in a Lifetime Achievement - 02/03/12 09:36 AM
I finally accomplished a feat that ended up achieving a goal I didn't create. While I like competition as much as the next guy -- after all, I am a Sacramento short sale agent which, by its very nature, should make me somewhat competitive -- I am not driven by competition. I don't have to be better than anybody else, I just have to make more money, haha.
Seriously, though, given a choice between celebrity status or being stinkin' rich, I'll take the money. Haven't you ever had discussions like that? Well, I did, when I was younger. Before the days … (5 comments)
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Just Because Wells Fargo Has a Small Title Company Doesn't Mean It Should Use It - 02/02/12 10:07 AM
This is not the first time it has happened. Unfortunately, it won't be the last. And it wouldn't be nearly so much fun if every time I called the Wells Fargo office in Des Moines I wasn't disconnected after holding. If you don't know your party's extension, press 2. And you're zapped into voice mail hell or hung up on -- one or the other.
But I stop to consider the fact those employees at Wells Fargo in Des Moines had to get out of bed in Des Moines. I try to have empathy for them. It's 28 degrees in Des … (4 comments)
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Proof that Bank of America Listens to Short Sale Agents - 02/01/12 09:04 AM
If you're not part of the solution, you're part of the problem. There is very little in between. Especially when it comes to short sales. As a Sacramento short sale agent, I close a lot of short sales. Our market is inundated with short sales. I've been specializing in short sales for 6 or 7 years now. As a result, I close a lot of Bank of America short sales.
In fact, I am very familiar with how Bank of America processes its short sales. I do whatever it takes to help Bank of America. Not because I am a stockholder … (5 comments)
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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
Email Me
Broker-Associate at Lyon Real Estate, midtown Sacramento. Selling since 1974. Home Buying Columnist at About.com. Sacramento short sale agent.
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