elizabeth weintraub: The Bigger Issue With SB 458 and Short Sales in California
- 07/23/11 03:27 AM
All of this talk about SB 458 and how it affects a short sale in California is short-sighted. That's because nobody seems to be paying attention to the bigger issue at hand. All of the attention has been focused on the release of liability for the seller. Like Dorothy in the Wizard of Oz, I hate to say, clicking those heels together to go home, the seller has always had the ability to get a release of liability and to avoid a deficiency judgment after closing.
It's called hiring a competent Sacramento short sale agent and / or getting a lawyer.
… (10 comments)
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elizabeth weintraub: A Rancho Cordova Short Sale Asks When Will I Be Loved?
- 07/22/11 03:39 AM
Let's face it, in 1960, the Everly Brothers were some of the dorkiest guys around. Phil and Don Everly had zero hunk factor. They looked like somebody put their faces into a vice grip. Maybe they were just too wholesome to be attractive. There was no bad boy vibe going on there, not like with Elvis Presley or Jimmy Dean.
But they produced great songs, as long as you didn't picture who was singing them. And how could you, because they were on the radio. AM radio. Way before FM radio. They had 4 big hits in 1960, but probably the … (8 comments)
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elizabeth weintraub: You Won't Find Skunks at This Orangevale Short Sale
- 07/20/11 02:41 AM
I probably have a reputation among the black critters with white stripes as that crazy agent in Land Park. But see, I figure if confronted enough times by a screaming lunatic they might stay out of my yard. And in case you're thinking that's what happened to my neighbor's roses, I don't think skunks can climb a stalk of thorns, but who knows.
If I spot skunks in the yard, I'm gonna run after 'em yelling my lungs out. Some of those words might be four-letter words, too. I don't care what skunks think. Although, my neighbors probably clasp hands over … (5 comments)
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elizabeth weintraub: Would You Rather See a Video of My Cats or a Sacramento Free-and-Clear Condo for Sale?
- 07/19/11 03:23 AM
I could not decide which to post today. A video of my cats playing with a plastic strap or a new listing east of College Greens by the American River. I'm not that good of a movie maker. Or maybe my cats aren't that good of reality TV stars. So, the listing wins out. It's not even a short sale, if you can believe that. Yup, I still list and sell regular homes for sale in Sacramento.
This is a two-bedroom, two-bath condo in Glenbrook. It's off the beaten path and toward the back of this massive complex of condominiums. You'll … (4 comments)
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elizabeth weintraub: Shocking News of How a Land Park Short Sale Unexpectedly Bit the Dust
- 07/16/11 03:22 AM
Everybody knows that I am a Sacramento short sale agent who carefully chooses the short sales she agrees to list and sell. That's because everybody knows that my short sales tend to close. Especially a short sale in Land Park. I sell enough homes in Land Park to know the individual neighborhoods intimately and, besides, I live in Land Park. There are many neighborhoods within neighborhoods in Land Park. Prices can vary dramatically from street to another. But it wasn't price that made this Land Park short sale explode.
It was the bank. Central Mortgage.
Most of my Sacramento short sales … (14 comments)
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elizabeth weintraub: Check Out This Bank of America Cooperative Short Sale in the Natomas Neighborhood of Sacramento
- 07/15/11 03:47 AM
Sometimes, I make myself laugh, and I just can't help it. It's my personality. A woman I do not know from Australia wrote to me this morning to say her husband says it's too late for them to buy a home. He's 47 and she's 41. I told her how I bought my last house at age 50 and, in fact, recently sold a short sale in Sacramento to an 84-year-old single woman -- which is what you're gonna be if you continue to listen to your husband, I added.
Another seller wrote to me to ask, in much earnest, if … (3 comments)
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elizabeth weintraub: Cheese Curds and Pork Chops on a Stick and a Short Sale in Elk Grove
- 07/13/11 02:55 AM
A TC in my office last week mentioned she was looking for a fun place to go this summer. I suggested the Minnesota State Fair. She looked at me like I had told her to go to Pocatello or some other weird place. Nothing against Pocatello, I use that as an example because a) I've never been there and b) it's in Idaho, land of famous potatoes and, I dunno c) it rolls off your tongue in such a way that it makes you want to repeat it over and over. Pocatello would make a good song chorus.
The Minnesota State … (7 comments)
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elizabeth weintraub: Buying or Selling a Home in East Sacramento is a Little Bit Quirky Today
- 07/12/11 03:13 AM
I met with an East Sacramento seller yesterday who has a home he wants to sell. It's a 2 bedroom he bought a long time ago, and there is plenty of equity. I will put this on the market in a couple of weeks. Whenever I meet with sellers to talk about selling a home, especially a rarity such as a home with equity in Sacramento, I show them how others will look at their price.
Because it doesn't really matter what I think or what the sellers think or even what other agents think. Only 2 things matter. How the … (8 comments)
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elizabeth weintraub: Does Your Bank of America Short Sale Have Silent Mortgage Insurance on that Second Mortgage?
- 07/11/11 02:59 AM
Twice in one week I've run into this. I always ask my sellers if they have mortgage insurance when I take the short sale listing. In some instances, you can figure it yourself, especially if the loan-to-value ratio at inception is above 80%. On first trust deeds, lenders want mortgage insurance to protect their position if the equity position is less than 20%.
The way mortgage insurance works is somebody pays a premium. It can be the borrower or the lender. If the lender pays it, the borrower is probably paying a slightly higher interest rate, so it can be argued … (8 comments)
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elizabeth weintraub: Eddie Izzard and My Rocklin Short Sale Listing
- 07/10/11 03:03 AM
A comic who can make me laugh so hard my gut wants to bust is #1 my husband and #2 Eddie Izzard. The difference between the two is my husband doesn't always do it on purpose.
I loved Eddie Izzard in the short-lived television series The Riches, he was so perfect, paired with Minnie Driver, in the role of a con artist pretending to be wealthy. He was fabulous as the professor in another favorite and also canceled show the United States of Tara. But I have never seen him perform live on stage.
This morning I clicked through my gmail … (4 comments)
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elizabeth weintraub: Why Would Bank of America Hire a BPO Agent Without the Tools to Work in Sacramento?
- 07/09/11 03:34 AM
I will do just about anything to sell a Sacramento short sale. Some days, I feel like Cal Worthington. I would eat a bug. Did you know that Cal Worthington just got remarried for the third time? Ha. I thought he was dead. I would stand on my head to sell a Sacramento short sale. Whatever somebody needs, I'll do. I want the transaction to close. You can't be a Sacramento short sale agent without working extremely hard and doing unseemly things that you would never in a million years have to do in a regular real estate deal.
So, yesterday, … (16 comments)
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elizabeth weintraub: Why Do Short Sale Buyers Bail at the 11th Hour?
- 07/08/11 03:51 AM
As circumstances go in Sacramento short sales, the time that a buyer is likely to cancel is almost always right before short sale approval. It's like they can see that train coming down the tracks and they can't wait for it to pull into the station. They jump in their car and go home. Seems the minute that I tell buyer's agents we're about 10 days away, they tell me the buyer wants to cancel. It doesn't make sense.
But then what about real estate or short sales makes sense these days? Not much. People get highly emotional over the silliest … (10 comments)
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elizabeth weintraub: About Home Selling as a FSBO, and Another Elk Grove HAFA Short Sale Closed Yesterday
- 07/07/11 03:29 AM
On the surface, it sounds simple enough. Put your home on the market yourself for 30 days to see how it goes. You just might sell it as a FSBO and save yourself that whopping real estate commission. At least that's the story some FSBO companies are telling sellers, and sellers are eating it up. Why wouldn't they be sucked in? Sounds good to me, too. What have they got to lose?
There is a FSBO thread going on about this very topic at my homebuying site. You can go there if you like and add your comments about sellers trying … (4 comments)
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elizabeth weintraub: A Fishing Expedition to Nimbus Dam When It Is 102 in Sacramento is a Grand Idea
- 07/06/11 02:53 AM
Myrl is absolutely right when she talks about different realities among people. We all have our own versions even though we might be looking at exactly the same thing. That's why eyewitness accounts of a traffic accident can vary so widely. Take my fishing trip with Myrl Jeffcoat yesterday. She says I chose the front seat, but that wasn't exactly what happened.
I chose the passenger side of the vehicle but not the front seat. I did not know where Myrl envisioned me seating so, like a good little guest along for the ride on this fishing expedition, I … (7 comments)
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elizabeth weintraub: What Does a Sacramento Short Sale Agent Do the Day After the Fourth of July?
- 07/05/11 02:54 AM
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elizabeth weintraub: Capitol Corridor Offers a Great Way for Sacramentans to Visit San Francisco
- 07/04/11 04:04 PM
The Weintraubs enjoyed a very green Fourth of July. We left Sacramento. Yup, did a last-minute getaway on Amtrak. You can park right in front of the train station on 5th and prepay your parking. Then, go inside to scan the printout bar code from your online reservations and hop right on that train. The Capitol Corridor drops you off in Richmond, where you can prepay a RT to the City on BART, to the most fabulous city in America, and next thing you know, you realize the Redline doesn't run on Sunday, so you have to transfer in Oakland, … (2 comments)
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elizabeth weintraub: California Short Sale Sellers Might Qualify for $5,000 on Top of the $3,000 From HAFA
- 07/03/11 02:45 AM
I can't possibly follow every single federal and local assistance program available in Sacramento for sellers of short sales. There are so many of them. But I do try. Some have such tight restrictions that few people qualify. That's how government leaders can say they are helping. They put out programs that help only a limited number of people and then say, but look at our fabulous program and all that we are doing. Jack crap.
Like loan modifications. Good idea. Bad implementation. Ask any Sacramento short sale agent, and she will relay the horror stories she's heard from her many … (5 comments)
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elizabeth weintraub: When Your First Mortgage Payment is Due Depends on When You Close
- 07/02/11 03:24 AM
I was hoping to close at least 12 escrows in June but that didn't happen. It seems that 3 Sacramento short sales rolled into July. But it doesn't matter to me when they close as long as the sellers are happy. The most important thing to me as a Sacramento short sale agent is that my sellers are thrilled with my work.
The reasons for the delay on all three short sales lie with the buyer's lender and the buyer's loan. Not my sellers' fault. We're on target. I can't remember the last time I wasn't on target.
That's why I … (7 comments)
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elizabeth weintraub: A Whitney Ranch Short Sale on a Premium Lot With Pool and Spa
- 07/01/11 03:34 AM
I have no idea how people who work for corporations get any work done during the day when they are free to go online. I try to stay away from certain websites because I can get easily distracted. Dangle a bright shiny object in front of my face and, like a baby, I want to grab it with both hands and stuff it in my mouth. My loyalty factor is zero when I'm enticed by other websites. I'm the perfect About.com homebuying visitor because I could click on different links and read stuff all day long, getting myself buried deep within … (4 comments)
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elizabeth weintraub: Short Sale Extensions, Postponing an Auction, and Goldilocks and the Three Bears
- 06/30/11 03:18 AM
I've got news for all you fans of Goldilocks and the Three Bears. We've been lied to all these years. We, as busy people, tend to take whatever has been shoveled our direction as the truth -- like FOX News -- without ever thinking about it.
With Goldilocks, what you have here are 3 hungry bears who went for a walk in the woods. They come home to find out a stranger has a) broken into their house, b) eaten all of their food, c) broken their furniture and d) a little defenseless girl with a bloated stomach is sleeping right … (7 comments)
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All of this talk about SB 458 and how it affects a short sale in California is short-sighted. That's because nobody seems to be paying attention to the bigger issue at hand. All of the attention has been focused on the release of liability for the seller. Like Dorothy in the Wizard of Oz, I hate to say, clicking those heels together to go home, the seller has always had the ability to get a release of liability and to avoid a deficiency judgment after closing.
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