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active short contingent: How About This Slogan for JPMorgan Chase? - 05/15/12 07:07 AM
How did Jamie Dimon, the chairman and CEO of JPMorgan Chase, manage to lose $2 billion? You might ask why did the buyers of a Sacramento short sale cancel yesterday? Or, how did a Rocklin short sale go into escrow the day it came on the market? Why do people always want to know the why when the facts often speak for themselves. The "why" doesn't change the facts. It won't rewind the clock.
I had agents yesterday begging me to call them back and explain why a short sale was no longer available. It was no longer available because it … (8 comments)
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active short contingent: Is That Home for Sale in Carmichael Because I See a Sign in the Yard - 04/13/12 06:21 AM
On my way to an appointment yesterday, a Lyon real estate agent called. She said she and her clients just got out of her car in front of my listing in Carmichael. Before she could say anything else, I said, "Here's what you do: open the doors, get back in the car and drive away. Don't look back. Just go."
This home has been in active short contingent status for 76 days. We have a half dozen offers with a few as a back-up offer, within the first week on the market. Hardly a day goes by that I don't get … (7 comments)
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active short contingent: You Might Have to Line Up to Buy a Short Sale in Sacramento - 04/12/12 06:58 AM
The market is so tight in Sacramento right now that agents are calling me on active short contingent and pending listings. They want to know if there's any chance those listings will fall out of escrow. Not a bad plan of action, actually, since many do blow up. Last year, for example, 1 out of every 3 of my short sales were sold a second or third time.
Surprisingly, those fallout percentages are probably low as compared to those of another Sacramento short sale agent. That's because I put systems in place to minimize the number of fall-outs, which has greatly … (9 comments)
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active short contingent: 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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active short contingent: Why Are Those Sacramento Short Sales on the Market for So Long? - 01/13/12 11:25 AM
Thanks to Melissa Zavala this morning, she gave me inspiration for this blog. I woke up late, thinking about what I will say tomorrow when I tape a TV show. It's a community outreach program on cable. The producer wants me to talk about short sales. I told him I will lay it on the line. I might say things that go against the norm. There is no sugar coating from me. I'm very opinionated. I'd also like to believe I am informed, especially since I closed almost 100 deals last year.
As a Sacramento short sale agent, I see people … (5 comments)
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active short contingent: A Sacramento Lawyer Might Not Want to Hire Herself as a Client to Buy or Sell a Short Sale - 12/09/11 09:42 AM
Some people are so busy being a pompous ass that they can't listen when you try to tell them good news. They want to hear the sound of their own voice and not yours. If they would just quiet down for a moment, they might find out important information about a Sacramento short sale.
But this is the thing about talking to people from the public. Odds are some of them are jerks. They are the kind who will cut in line at the grocery store and then ram the cart into your back. They can't win with you because if … (4 comments)
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active short contingent: Why You Want to Buy a Short Sale That is Back on the Market - 11/02/11 09:49 AM
Back in the old days, like 5 years ago, I used to get really bummed out if an active contingent short sale flipped back into on-the-market status. It meant as a Sacramento short sale agent I had to start over. I had to find a new buyer and put up with the inevitable questions such as "What's wrong with this house?" because now it was back on the market.
What is wrong with this house is nothing. It's what is wrong with buyers who shouldn't be buying short sales: not much commitment, little patience, easily frustrated, confused and annoyed.
An agent … (14 comments)
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active short contingent: How a Buyer Can Cancel An Accepted Offer on that Active Short Contingent and Get Her Backup Offer to the Bank - 10/31/11 10:28 AM
It really pays off if you're thinking about buying a Sacramento short sale to hire an experienced short sale agent. An agent emailed me yesterday to say her Buyer B had made a backup offer on a short sale. It's a situation in which the previous buyer walked away after receiving the short sale approval letter from the seller because he lost his job. The short sale was approved at, let's say, $300,000.
So, that particular Sacramento short sale agent (not me) put the home back on the market at, say, $295,000. Now you might ask why would an agent list … (0 comments)
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active short contingent: How Many Land Park Homeowners Own a Gun? - 09/17/11 10:50 AM
I don't know of any homeowners in Land Park who own a gun. I suspect that guns are sort of a rarity in this neighborhood. I don't own one, and I live in Land Park. None of my neighbors has a gun, I don't think. I'm not really gung ho on guns. Although I did have a bit of change of heart after reading Deer Hunting With Jesus. Or, at least I understand the need of some people to own guns.
But you go to a rural place like Galt, and lots of homeowners have guns. Heck, many homeowners in Galt … (13 comments)
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active short contingent: Sorry, Kevin, You Cannot Buy My Luxury Short Sales in Sacramento - 06/25/11 10:15 AM
No, Kevin, I do not want to work with your investor who wants to buy luxury short sales. The fact that you emailed me through ActiveRain this morning and that you are not a member of this community tells me you're probably spamming for business. I also thought it was a little odd that your IP address is not registered.
But I ran a quick search in Google and discovered you are most likely some guy in his 50s who lives in South Lake Tahoe, probably scrambling to eke out a living in real estate. Sounds like you think helping investors … (8 comments)
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active short contingent: Did Your Buyer's Agent Sabotage Your Offer on That Sacramento Short Sale? - 06/13/11 10:26 AM
All signs pointed to this weekend being slow but I managed to put four short sales into escrow. Even with our gorgeous weekend weather in Sacramento, most agents continued to work through Saturday and Sunday. One of these short sales going into pending status even though we haven't yet received approval from the bank. Why? Well, for one thing, agents keep calling. It wouldn't be so bad if it were buyer calls, but agent after agent calls about it.
Buyers I can put on a waiting list or perhaps suggest another property to buy. But agent calls are considered by many … (7 comments)
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active short contingent: Here are 3 Approved Sacramento Short Sales With a Reduced Waiting Period - 09/22/10 10:07 AM
In the land of Sacramento short sales, there are days when it feels like I am a balloon artist -- blowing up balloons and squeezing them into animal shapes. I actually have a very close friend from Minnesota who lives in Texas and is a professional balloon artist. You know, you squeeze one end and it sends air to the other end. You take care of one problem in a short sale and another one appears. You let go without tying the end, and the balloon flies across the room. You stab it, and it pops.
This week, I seem to … (8 comments)
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active short contingent: Call Your Insurance Agent Before Vacating a Short Sale Home - 08/25/10 09:58 AM
It happened again. This time to a different short sale and not in Sacramento. This short sale is in Roseville. High demand neighborhood -- such high demand that I received more than a dozen calls within 24 hours of putting this short sale on the market. Several months later, I'm still receiving phone calls and inquiries.
We received short sale approval for an all-cash offer and were headed for closing when a buyer's agent in Roseville called to put me on the alert. Even though this vacant home has been in active short contingent status for a while, agents still show … (47 comments)
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active short contingent: Here is How to Screw Up a Sacramento Short Sale Listing - 08/07/10 10:28 AM
I have learned the hard way that before I put a Sacramento short sale back on the market, always always always read the marketing comments. That's because I don't physically change the status on my Sacramento short sales. MLS input and changes are handled by staff, and their job function is not to preview a Lyon agent's listings nor think about them. They do clerical work. That's why agents make the big bucks. And we need to read our own listings.
I consistently study my inventory list of Sacramento short sales, checking days on market, setting up alerts to let me … (12 comments)
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active short contingent: Here is Why Sacramento Real Estate Prices Are Falling This Summer - 07/21/10 10:04 AM
A reporter called yesterday morning to ask me about the rising real estate prices and market recovery in Sacramento. After all, our Trendgraphix reports show a 42% increase in pending sales for June. That's the message delivered by Lyon Real Estate. However, inventory is up about 8% and sales are down by 2%. The average per-square-foot price also dropped by 2% to $125. The reporter asked me to comment on our market stabilization in Sacramento.
Much as I would like to paint a rosy picture of the real estate market in Sacramento, I have to call it the way I … (11 comments)
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active short contingent: The Look in Their Eyes Tells Me They Think I Have Gone Off the Deep End - 01/12/10 09:13 AM
I've been pretty busy lately listing short sales throughout Sacramento and in Land Park. In fact, I just listed another short sale home in Land Park last night. This is a home that had previously been on the market for a long time, listed with several other real estate agents at prices that buyers for homes in Land Park would not accept.
Since this weekend, I've taken 3 new short sale listings, which I will negotiate for those sellers personally. At all my appointments lately, after I explain how the complete short sale process works, I've noticed the same thing happening, … (10 comments)
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active short contingent: Sacramento Short Sale Agents: If Your Buyer Walks, You Need to Tell the Listing Agent - 10/29/09 09:11 AM
This doesn't happen very often, thank goodness, but yesterday a short sale buyer flaked out. I had called a Sacramento agent to let him know that Chase Bank was about to approve a short sale for his buyer. The agent blurted, "Oh, that buyer bought a home last month." Bear in mind that we've sent communication to this agent since the offer was presented in early August.
At first, the agent could not recall the buyer at all. Well, no problem, we have a back-up offer. I called that agent. Her buyer had withdrawn her offer as well but she did … (9 comments)
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active short contingent: What if You Were in the Shower and a Stranger Entered Your Home Through the Lockbox? - 10/19/09 09:06 AM
Usually, the types of phone calls I receive from Sacramento buyer's agents are ripe with questions that are answered in MLS. But I understand that some agents don't print out MLS reports or skim over them so quickly that they miss important data. In an attempt to help them, I generally attach a document to my listings that contains tips on how to write an offer, especially on my short sale listings because there aren't very many Sacramento short sale agents in town.
In the confidential agent remarks, I make reference to the attached document and ask agents to please read … (17 comments)
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active short contingent: Is This a Good Time to Buy in Sacramento? Check Out These Real Estate Stats - 10/13/09 09:13 AM
An investor called me from the Bay area yesterday to inquire about the real estate market in Sacramento. She asked the familiar question: "Is this a good time to buy?" That's sort of like asking a street vendor with hot dogs for sale if it's a good time to buy a hot dog. What's the vendor going to say? No? He's got product to move.
But I am straight-forward with people. It seems like a good time to be an investor in Sacramento but it's a struggle. It's not easy to buy a house in this market. I suppose Bay area … (5 comments)
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active short contingent: A Sacramento Short Sale Buyer Might Be Headed For Trouble - 10/09/09 08:57 AM
My husband went to Chicago a few days ago to visit family, leaving me to fend for myself around the house. Oh, he prepared a plethora of meals for me in advance. I have in the refrigerator a huge Greek salad, cucumber yogurt, a dish made from green beans and potatoes, pasta sauce, a Filet Mignon and a delicious chicken stew, so I'm not gonna starve to death.
Last night I decided to grill the steak. I stood in front of the new gas / convection range we installed last year and realized that I did not know how to turn … (13 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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