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Has the Short Sale Train Left the Station in Sacramento?

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

sacramento short salesPeople looking around in real estate for an opportunity to make money all seem to be gravitating toward short sales, especially in the short sale capital of the world in California. The REO home sales are pretty much down in markets everywhere and short sales have emerged as the distressed sale preference for many. As a result, I see more and more ads from guys trying to cash in on the phenomenon of short sales.

The main problem is they're a day late and, as Chris Ann Cleland in northern Virginia would add, a dollar short. So, don't get sucked in. Don't waste hard-earned dollars trying to forge a new career.

Read more in my personal blog today about Are Short Sales Over in Sacramento?

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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(5)

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

We've got agents in our market now, that after attempting to cash in and not being able to, have decided to change the game and give Short Sales a bad name.  Throwing the world Short Sales in a circle with a slash through it.  They want the public to believe they are a higher level of agent for not dealing with them.  That they are somehow protecting property values by not listing them.  It's ridiculous.  The agents like you and I that saw this as just another scenario our local home owners would be dealing with, didn't blink an eye and dove right in to help.  That's what good agents do.  They learn market trends, how to adapt early and (gasp) help home owners.  And I know that you and I both have seen record high prices from Short Sale listings.  An agent that can't face reality is not one I'd want advising me.

Mar 09, 2013 02:42 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

You know me, Elizabeth, sometimes I'm a bit of an insomniac.  This morning at 3:00am, I was awake and clicking through the channels.  On channels 10, 13, 40, and 58, I was bombarded with the same guy and the same infomercial.  You probably know who I'm talking about, but I won't mention him by name to give him fodder.  He's all about making a killing in "pre-auction" and "short-sale" properties. 

As an aside, I'm looking for a condo in either Fair Oaks or Citrus Heights.  There is not a single one listed in the MLS either as Active or ShortSale.  That's how desperate inventory is looking.

Mar 09, 2013 02:57 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Hi Chris Ann: So . . . what you're saying is . . . sour grapes.

Hi Myrl: I don't know who you are talking about but he's probably making a killing all right selling books and tapes . . . Somebody was talking to me about a condo . . . hmmm . . . I think it was in Elk Grove, though.

Mar 09, 2013 03:19 AM
David Grbich
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

Hi Elizabeth - seems like all trains have left the station!! Short Sales, REO, Standard sales all very low in most markets. I would welcome inventory of any kind - I have a hunch that as prices drift higher we will see equity sellers really emerge in volume. Regards Dave

Mar 09, 2013 06:36 AM
James Dray
Fathom Realty - Bentonville, AR

Morning Elizabeth sound like everyone has made the right call so I'll just say have a great day in old sunny California. 

Mar 09, 2013 05:50 PM