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A Short Sale in Rocklin for $208,000 is a Great Buy for the Neighborhood

By
Real Estate Agent with Elizabeth Anne Weintraub, Broker DRE #00697006

5721 Palomar Circle, Rocklin, CA 95677Yesterday, a woman called me from south Sacramento. She said it was imperative that I drop what I'm doing and come over to list her home as a short sale. She had just received paperwork that said she was approved for a HAFA short sale, and she had until February 19th to submit a listing agreement. She did not know that she had to hire a real estate agent. I asked her if she realized that doing a HAFA short sale meant she would be selling her home. Yes, she understood that part.

It made me wonder what kind of person would apply for HAFA and be unaware that had to hire a Sacramento short sale agent? Hmmm . . . sounds like a seller who thought maybe they'd sell their home to a friend, an acquaintance, a relative? She appeared very distraught when I explained the nuances of an arms-length agreement. She became even more agitated when she learned that once we received an offer, it would get approved within a couple of weeks and close 30 days after that. She had planned to move in July. Oops.

Here is an affordable short sale listing in Rocklin. It might not look like much from the street because the front yard is fenced, obscuring the home, but it has a nice courtyard entrance. There is even wiring to a cement pad in the back yard for a hot tub or spa, which has not yet been installed.

The home has 3 bedrooms, 2 baths and, according to the County Assessor, was built in 1975 and is about 1,536 square feet. One bath has a marble sink and parquet floor. The second bath has a ceramic floor. It features a wet bar in the kitchen, along with a dishwasher and gas range. There is a large dining room off the kitchen, and the living room sports a brick fireplace.

You have indoor laundry and an attached 2-car garage. It's located near Sunset and Coronado, not far from Vista Grande Park.

5721 Palomar Circle, Rocklin, CA 95677 is exclusively offered by Lyon Real Estate at $208,000. Call your Sacramento short sale agent, Elizabeth Weintraub, at 916 233 6759 for more information. For a private showing, call Linda Swanson at 916 607 0111.

Photos: Linda Swanson

5721 Palomar Circle, Rocklin, CA 956775721 Palomar Circle, Rocklin, CA 956775721 Palomar Circle, Rocklin, CA 95677

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Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

Comments(4)

Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Reminds me of an email I got from a short sale buyer.  His first sentence was, "I want to buy my Aunt's home in a short sale so she can rent from me."  I emailed him back with explanation of Arm's Length requirements of a short sale.  Went right over his head.  Needless to say, he's looking for another agent.

Feb 17, 2011 04:33 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Hi Chris Ann: People often think that because they are capable of coming up with what sounds like a great idea that it's legal or even that it's done. This is what happens when people step outside the realm of their comfort zone into an unknown area. They get into trouble.

Feb 17, 2011 09:24 AM
Simon Mills
Mills Realty - Toluca Lake, CA

Chris Ann has an interesting comment on your blog.  I'm not so sure that a nephew wouldn't be considered arms length and there is nothing wrong with the former property owner becoming a renter.  Obviously it needs to be disclosed to the lender, but it wouldn't surprise me to see it approved.  This is assuming the property was exposed to the open market and the offer was fair.

 

Feb 17, 2011 10:52 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

I had a friend call me whose step son wanted to borrow $200k. He was going to short sale his home and buy another in same neighborhood. She asked whether or not to lend him the money!!!!

I just mentioned you in my latest blog.

Feb 17, 2011 03:07 PM