market value: The True Meaning of Market Value in Real Estate
- 09/09/17 09:55 AM
Little is more irritating than a low appraisal, except for maybe a low appraisal for an FHA buyer. Because an appraisal like that will prevent another FHA buyer from purchasing that home. So it's not like it's easy for the seller to put the home back on the market if it primarily appeals to FHA buyers. Conventional appraisals are a different story; although I have heard rumors they are headed the way as FHA, and they will eventually also receive case numbers. Sometimes I long for the good old days, you know, when you take a driver's exam, fail miserably, and just … (7 comments)
market value: Why All Those Other Carmichael Realtors Miscalculated
- 07/27/17 07:49 AM
When I speak with sellers about maximizing their profit potential when home selling, I am serious about the maximum profit potential. So analytical about it. Because I feel as though it is my job to get my sellers the highest price possible. To do anything less, to me, is not providing full service.
Every so often I run across a seller who doesn't care one way or the other about extra proceeds, but not very often. Most sellers want every bit of equity they can obtain. Usually I'm within a reasonable range or so of other agent's estimates, but not on this particular … (11 comments)
market value: Sacramento Duplex Closed Escrow at Amazing Price
- 03/21/17 08:50 AM
Many agents in Sacramento struggle with sellers who want more than the agent is sometimes prepared to list at. I often have the opposite problem. Especially if sellers have been talking to other listing agents who quote them much lower prices than I do. My prices are often much higher. That's because I tend to look at how much a buyer will pay. I see patterns in the market because I sell a lot of homes every year, and I know how buyers think. I can look at a home and pretty much know how much a buyer will pay. It's not … (7 comments)
market value: Listing Agents Know There is More Than One Market Value
- 03/08/17 07:32 AM
It's not that I have no empathy because I used to be young and foolish, too. Or maybe I'm just an old fart who would like to do foolish things, but I'm too busy to have the time for such nonsense. Too focused on my job, which can also wake me up at night. I have found the best way to deal with stressful issues that wake me at 3 AM is to tell myself "just don't go there." Because there are so many OTHER issues I could attach myself to. It comes from caring about clients. I try not to walk … (15 comments)
market value: A Professional Opinion of Value Overshadows Zillow Website Estimates
- 03/16/14 02:44 AM
I went out for a bike ride yesterday and ran into this mess o' bikes in Land Park. Apparently, they like my bike path, too, around the park. I'm not getting in their way. Do you know how fast these guys can blow on by -- they were going at least 40 MPH, enough that I felt a gust of wind. Not surprising, they are professionals with shaved legs, and I'm just a leisurely bicyclist with a basket on the front of my bike and a bell. I respect professionals. Sometimes, though, we find sellers who don't respect our professional … (12 comments)
market value: Taking a Sacramento Listing Involves Much Upfront Work By the Agent
- 06/06/13 06:55 AM
Some agents go running out the door to a list a home as a short sale the minute a seller calls. I generally hold back a little bit, because unless we have a Notice of Default filed, a short sale probably does not require immediate attention. First, I need to determine whether the home must be sold as a short sale. Some homes have enough equity now that they no longer fall in short sale territory. Then, I need to qualify the seller. I need signed permission to speak with the seller's bank. The sellers need to gather documents, not to … (6 comments)
market value: How to Sell a Home For More Than Market Value
- 04/07/13 02:59 AM
What is market value, anyway, you might ask? It's supposed to be what a seller is willing to sell at and what a willing and able buyer is willing to pay. But that's not the way it really works in real estate, because you've got that appraiser out of Stockton dishing out values on homes in Sacramento. Now, instead of hiring an appraiser who knows a certain neighborhood, say, Land Park, for example, a bank has to dip into a pool of appraisers who may or may not be qualified to appraise that home in Land Park. They are licensed to … (8 comments)
market value: Are Home Prices Really Double in Sacramento?
- 03/28/13 01:47 AM
A seller in Granite Bay expressed interest yesterday in possibly selling her spacious two-story home near Douglas Ranch. The problem is she wants a home in the seven-hundred range to be worth at least $900,000 to maybe a million. And why not? Everybody wants to make a profit from an investment, even if it's a home that they are moving out of and away from to another city. Because they always have the option of renting their home and paying negative cash flow. Negative cash that might not make up for little appreciation, but not my call; not my home. She … (7 comments)
market value: Can You Buy a Home Under Market Value in Sacramento?
- 03/04/13 12:15 AM
I hear horror stories from agents in Sacramento about first-time home buyers. Some agents tell me that their first-time home buyers -- and even some investors (who should know better because hopefully they've been around the block) -- are thinking they can still buy a home under market value in Sacramento. That's a horror story. Most agents would grab the garlic, extend crossed forefingers and back away. I'm not saying a buyer can't but it's like looking for a needle in a haystack. Hardly worth all of that effort to come up empty handed. There are not enough homes for sale … (6 comments)
market value: A Flip-Flop From Short Sale to Roseville Home With Equity!
- 11/03/12 01:24 AM
It's not often that I get to tell a seller that she doesn't have to sell that Roseville home as a short sale, but I got that opportunity last month. I sell a lot of homes in Roseville as short sales because Roseville has been hit just like Sacramento in the downturn. This client was 82-years-old and still a spring chicken. I kid you not. She was absolutely delightful. Reminded me of a grandmother I once had. So, I probably felt a bit protective of her, although I try very hard not to be a White Knight agent. This was an … (7 comments)
market value: The Secret to Knowing The Sales Price a Short Sale Bank Will Approve
- 10/23/09 02:09 AM
Short sale buyer's agents in Sacramento are wising up and asking more questions upfront about my listings before showing them to a buyer, but I still get the goofy questions about homes that are new to the market such as: Is this short sale approved by the bank? Some banks such as Wachovia and Wells Fargo are putting systems in place to preapprove the sales price but most banks do not. It takes an offer from a qualified buyer to get a response. I've had only one bank this year tell me that the price on my Sacramento short sale wasn't … (33 comments)
market value: Here is What It Takes to Sell a Home in Sacramento
- 03/03/09 02:16 AM
A Sacramento home seller called yesterday to get my advice on pricing. She spoke to her accountant to see if it would make sense to rent out her home rather than sell it in this market. By this market, she was not necessarily referring to the falling market in Sacramento. She was talking about the economic climate that grabbed everybody by the throats last November and hasn't quite let go. Her accountant advised her to cut her losses upfront and price her home competitively. Renting it was not a viable option. I ran the comparable sales, the pending sales and the … (14 comments)
market value: How to Price Homes in Land Park and Curtis Park: Don't Make a Costly Mistake
- 09/02/08 03:04 AM
Lots of Sacramento buyers make the mistake of trying to figure out the market value of a home by looking at average per-square-foot prices, especially buyers for homes in Land Park and Curtis Park. But the reason that pricing per-square-foot, even on average, doesn't work in these neighborhoods is because every home is different, the upgrades vary and some locations carry heftier price tags than others. For example, in Land Park, the price difference between two very similar homes across the street from each other can vary by $100,000 or more, depending on which side of the street the home … (4 comments)
market value: How Do Foreclosures Affect Market Value?
- 12/25/07 12:34 AM
If you ask 20 different appraisers whether a foreclosure will affect the value of the surrounding homes in any given neighborhood, you might get 20 different answers, but they will all lead to the same conclusion. That conclusion is it depends. I know, that's not what you wanted to hear. But each situation is different. Now, if you take an area where 50 of the surrounding 100 homes are boarded up and in foreclosure, absolutely, yes, those foreclosures will affect value. You can't drive by some neighborhoods in Sacramento without spotting abandoned mattresses in those yards, junk cars, old refrigerators -- … (7 comments)
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.
Little is more irritating than a low appraisal, except for maybe a low appraisal for an FHA buyer. Because an appraisal like that will prevent another FHA buyer from purchasing that home. So it's not like it's easy for the seller to put the home back on the market if it primarily appeals to FHA buyers.
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