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 have an unusual number of short sales that are back on the market into active status. If you're looking to buy a Sacramento short sale, you might consider those that are back on the market. There are benefits to grabbing a short sale that has moved from active short contingent or pending status into active short. I got reapproval for one short sale last month in 2 days -- not that I'm saying you can always get that fast of a response because you generally can't.
However, there definitely are benefits. For one thing, although it is not guaranteed, the listing agent probably knows the sales price that the bank approved and the terms the bank approved. You can be relatively assured that the seller qualified for the short sale, and there were no surprises that couldn't be met such as the bank requiring a seller contribution and the seller refusing.
Here are my previously approved Sacramento-area short sales that are likely to close in a reduced waiting period:
1220 Chablis Circle, Roseville, CA 95757, MLS #10028990. This is a 3-bedroom, 2-bath home in Vineyard Estates, in move-in condition. $175,000. This one pencils for investors, too, but it is missing an AC unit, which and the bank won't replace. As is. Approved at $175,000.
3775 Erlewine, Sacramento, CA 95819, MLS #10024572. River Park 3-bedroom, 2-bath with wide plank hardwood floors. $289,000. Buyer refused to meet the bank's approved price, call for details.
4821 Kitty Hawk Street, Fair Oaks, CA 95628, MLS #10040832. Near Sunset and Hazel, 3-bedroom, 2-bath with updates and .26 acre lot. $145,000. Need additional 30 days to release lien and buyer refused to wait. Verbal approval at $149,000, which was the offer.
These listings are offered as short sales exclusively by Lyon Real Estate and your Sacramento Short Sale Agent, Elizabeth Weintraub. For more details, call Elizabeth Weintraub at 916 233 6759. Disclosure: there is no guarantee the bank will offer the same approval but it is very likely.
Photo: Elizabeth Weintraub, Lisa Jacobson Balloon Artist
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