foreclosure: Purchase Money Loans Do Not Guarantee Smooth Sailing for CA Short Sale - 07/02/12 11:49 PM
The mortgage guys can conveniently forget to tell California homeowners that a refinance changes their type of loan. When you buy a home in California and take out a mortgage, that loan is considered purchase money. When you refinance and / or take out a home equity line of credit, a HELOC, your mortgage is now hard money. A hard-money loan carries recourse whereas purchase-money does not.
So, think about this when you are being bedazzled by sparkly low interest rates. Because if your loan was not used to purchase your home, the lender might be able to pursue you after … (5 comments)

foreclosure: Chase Bank to Process Short Sales in Equator But Equator Won't Fix the BPO Problem - 03/03/12 11:49 PM
I can hear the high-five slaps now. That's how I felt when I heard Chase Bank was going to Equator, but I had nobody to high-five but my cat. So, I tossed back a shot glass of diet coke, let out a whoop and slapped my desk. As a Sacramento short sale agent who has closed way too many of her fair share of Chase Bank short sales, I can hardly wait for Equator.
Yeah, I know everybody bitches about Chase Bank and short sales. They say Chase Bank takes too long, it loses paperwork, nobody returns calls, and it's a … (6 comments)

foreclosure: Confused in Sacramento about a Short Sale vs. Foreclosure, Loan Modification or HARP? - 02/29/12 10:37 PM
I'm not gonna talk anybody into doing a short sale. If you don't know if a short sale is right for you, that's your business to decide. If, because I am a Sacramento short sale agent, though, you want my professional opinion, I will gladly give it to you. You might be astonished that I won't sell you on the idea of a short sale. I will tell you honestly what I think about your situation. Everybody's is different.
For some people, a foreclosure is the best thing to do. Some people don't have the stamina, resources, hardship, or right kind … (7 comments)

foreclosure: You Might Vote PNC the Worst Short Sale Bank But PNC Bank Has a Strategy, You Can Count on It - 01/19/12 04:14 AM
It seems like every time that I list a PNC short sale in Sacramento, buyer's agents don't want to deal with it. They tell me to my face they won't work on a PNC short sale. That's a little bit disturbing. Because PNC approves short sales. Not all of them, and maybe not even 50% of them, but they do often get approved. Especially non-recourse PNC short sales in California.
See, with a non-recourse short sale, the bank, in second position, gets nothing in the event of foreclosure. Maybe the bank gets some money from the government for a foreclosure but … (4 comments)

foreclosure: If You Don't Give a Crap About Selling Your Home, Why Do I Care About It? - 10/24/11 02:04 AM
Emergency listings. As a Sacramento short sale agent, sometimes I get phone calls from sellers who need me to take what I call an emergency listing. These are the listings that can't wait. These sellers are begging me to come over RIGHT NOW if I can but no later than tomorrow. With my schedule, that's not always possible, but I do try to shuffle appointments to accommodate a crisis.
Then, when I get there, the first sign of trouble that I see are cars parked in the driveway. Surely, they must figure that I will take a photo of their home. … (2 comments)

foreclosure: A Short Sale Agent Often Wonders Were You Lying Then or Are You Lying Now - 10/21/11 03:17 AM
A home seller in Land Park asked me yesterday what I have learned in my life's journey thus far. That was an odd question. It was a question that can't be answered in one sentence. Well, I suppose I could have said: We're all gonna die. Or, that nothing matters half as much 5 years from now as you think it matters today. Or, even we all create our own reality. Which we do. We're 100% responsible for how we feel and think. If you're miserable, it's your own damn fault.
Instead I said I've learned to say NO without providing … (9 comments)

foreclosure: It's All in How You Look At Your Life, Which Could Be in the Sacramento Area of Rancho Cordova - 09/14/11 02:57 AM
Whenever you think you've got it rough, you don't have to look very far to find somebody else who has it worse by comparison. It's all in your perspective. Of course, if you live in Sacramento, you'll find plenty of unemployed people, my journalist husband included. If you live in Detroit, where our nation's foreclosure rate soars, you could be like Detroit homeowner Texana Hollis. She's 101, and just got thrown out of her home of 58 years, evicted, with all of her belongings dumped in the street like garbage.
Her son apparently did her in by taking out a reverse … (4 comments)

foreclosure: It Wasn't My Sacramento Short Sale That Went to Foreclosure - 09/09/11 03:20 AM
This may come as a shock to some of you, but I actually do turn off my computer at night. I do not sleep with my mouse under my pillow. My neck does not have a USB connection.
I realize that I tend to freak out prospective clients when I pick up the phone and call them within minutes of receiving an email. Barring that, I return emails almost immediately, providing I am not with a client. Well, unless my client is somewhere in Iraq, and I have a few of those in military service.
But sometimes I feel almost apologetic … (7 comments)

foreclosure: When the Boom Goes Bust, You're Left With Big Holes in Neighborhoods - 09/06/11 03:38 AM
It's not unusual to own two cars, if you live in Minnesota. You have your summer vehicle and your winter car. This is a photo of the winter version. I found it over on "Eat Street," Nicollet Avenue by 28th.
This area was just beginning to boom when I left Minneapolis for good. Dozens of new restaurants, lots of new construction. When I first moved to Whittier, all of my friends thought I was nuts. It was much tonier to live in the Wedge or Kenwood or Uptown. Or near Lake of the Isles, like Mary Tyler Moore. Sane people did … (5 comments)

foreclosure: Here Are the Oceanfront Homes under $500K in Northern California - 08/08/11 03:13 AM
I left Sacramento on Saturday morning with every intention of coming home with an accepted offer. It didn't work out that way. As eager as one of us was, my husband and I did not find an oceanfront home to buy. You wouldn't think it would be this difficult -- but it is because we have to do our own due diligence. There is no easy way to buy a second home. In fact, the coincidence that I am also a real estate broker just makes it a little bit harder.
My own husband asked a seller if he could call … (8 comments)

foreclosure: Meeting With Sellers at the Last Minute Isn't Always the Best Idea - 06/21/11 03:18 AM
A reporter named Whitney Mountain (real name, not making that one up) wrote a story for the Sacramento Bee this morning about auto theft. Whit that says our Central Valley is the worst in the nation for auto theft. California has the highest rates in the country. Sacramento moved from ranking at #11 to #6 this year.  Our rate zipped per 1,000 people up to 5.79. Think about it -- don't you know somebody (if it wasn't you) who has had his or her car stolen?
My husband had his Honda Civic stolen about 10 years ago. It was missing for … (9 comments)

foreclosure: One Way to Handle a Lowball Short Sale Offer That Can Work - 03/28/11 03:37 AM
You can't blame buyers for wanting to get a good deal. Especially experienced real estate investors in Sacramento. Well, actually, you can point the Flying Fickle Finger of Fate at them when you've got multiple offers coming in on that short sale that are driving the price up and up and yet they still throw a lowball into the mix -- because that's kinda pointless -- but there is nothing inherently wrong with a lowball offer. Before you start slinging whipped-cream pies at my head, let me explain.
Any agent with a lick of common sense knows that banks approve short … (9 comments)

foreclosure: Is it Smart to Pay on that Second Mortgage if Your Home is Underwater? - 03/23/11 02:11 AM
If you own an underwater home, should you continue to pay on your second mortgage? Lots of people stop paying, and they don't worry about it. Why don't they worry about it, you may ask? Because the second mortgage holder probably has zero equity. Nada. No security for that loan. If there is nothing securing that loan, the mortgage lender is unlikely to file for foreclosure because there is no financial gain to do so.
When a second mortgage lender files for foreclosure, to perfect it, the lender needs to make up the back payments to the first lender, if any, … (11 comments)

foreclosure: A Short Sale is a Privilege, Not a Right - 02/25/11 03:28 AM
Sometimes, I suspect I should not read the newspaper, especially crap about celebrities. Celebrity news makes me cringe. Makes me want to scream: I've got news for you, Charlie Sheen. You are not special. You are delusional. I think that attitude comes with years of being an alcoholic, but Hollywood probably comes into play as well. When you've got people telling you how special you are, over and over, you probably start to believe it.
Well, none of us is special. We all end up in the same place. That place being either a box or ashes.
When I hear buyers … (104 comments)

foreclosure: How Anger Can Disrupt the 5 Stages of a Short Sale - 01/17/11 01:32 AM
There is a lot of anger in short sales. Sellers can get stuck in any one of the 5 stages of a short sale, but I see a lot of them who struggle to push past the anger stage. It festers and churns, like a supervolcano underground, and it might never erupt. Unresolved anger can eat away at a seller's inner core. That anger needs to be released, and hopefully not directed at their Sacramento short sale agent. Sometimes, I gotta duck to move out of the way of that flying fry pan.
The anger manifests itself in subtle ways that … (10 comments)

foreclosure: What "As Is" Means in a Sacramento Short Sale - 01/12/11 01:37 AM
It seems that home buyers in Sacramento sometimes believe that dealing with a short sale bank is identical to dealing with a bank that has foreclosed upon a home, when the two types of escrows are actually quite different. There are different departments of the bank that handle these two types of transactions and different procedures for the escrow.
In a short sale, the bank is not required to let the seller sell the home. It is at the bank's option when it allows a buyer to purchase the home from a seller at a negotiated price. Banks that elect to … (7 comments)

foreclosure: About Plastic Surgery and Postponing a Trustee's Auction - 12/04/10 02:38 AM
Before I get into a conversation about making an offer on a short sale a week prior to the foreclosure auction, I want to talk about plastic surgery. Specifically, a face lift. Oh, I know you've all seen those Sacramento Magazine articles about plastic surgery. I mean, it's the main reason to pick up Sacramento Magazine, right? Except for the Sac Mag edition with all those paid advertisements for Master's Club, which I get suckered into paying for every year. And why? So I can have my photo plastered among a bunch of other agents who are all hoping they have … (10 comments)

foreclosure: Sacramento Short Sale Saved by Rocky and Bullwinkle - 10/27/10 03:16 AM
Nothing up my sleeve.  Alex Anderson died last week. He was 90.
At the end of my days -- and by "end" I mean before I go to bed every night, not when I finally croak -- sometimes I play over the events of the day in my head on rewind. That's because things happen so quickly throughout the day that I don't always have time to reflect; I simply react. I work on high-speed autopilot. When I review what has transpired, I often can't believe how bizarre my days have become.
I've got your typical mosquito agents buzzing about making … (8 comments)

foreclosure: Are Banks Stupid for Refusing a Short Sale? - 10/25/10 03:56 AM
Are the banks really stupid? Or are real estate agents stupid for thinking that banks are stupid? I can't count the number of short sale blogs I've read in which the agents are lamenting about the banks. Some of them yell at bank employees as though the employees don't have a lone brain cell rattling around in their heads, and maybe they don't, hard to say. But yelling doesn't solve anything.
I hear agents scream at banks: "Don't you know a short sale is better than a foreclosure?"
It is? Always?
If a short sale is always better for the … (12 comments)

foreclosure: Why Did They Foreclose on the Short Sale I Was Buying? - 10/22/10 03:10 AM
Pricing a short sale is an art. Although I try to explain to sellers how I arrived at the suggested sales price, most of them don't really care. As one seller put it, she's just the Monopoly piece. Because it's the bank that decides on the short sale price. The bank makes the decision based on the BPO. So logic would have it that if a Sacramento short sale agent would examine the comparable sales the same way a BPO agent does it, the acceptable sales price should be near the list price.
Earlier in the year, a list price could … (33 comments)

Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you (RE/MAX Gold) Rainmaker large

Elizabeth Weintraub Sacramento Realtor Top 1%

Put 40 years of experience to work for you

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Broker-Associate at RE/MAX Gold, Midtown and Sierra Oaks Sacramento office. Co-partner Weintraub & Wallace Realtors. Selling since 1974. Homebuying expert at The Balance. Weintraub & Wallace sells homes from Galt to Lincoln.< Author Bio: Elizabeth Weintraub is a Sacramento real estate broker, author, home buying expert for The Balance, a Land Park resident, who specializes not only in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento but sells extensively from Elk Grove to Lincoln. Weintraub is prominently known as the #1 Sacramento Short Sale agent throughout the Sacramento four-county area. Call Elizabeth Weintraub at 916.233.6759. Put 40+ years of real estate experience to work for you. View all AR Posts By Elizabeth Weintraub Elizabeth Weintraub website  




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