reos: Behind the Scenes in Sacramento Foreclosures - 05/19/15 02:57 AM
It seems like I'm always rooting for the underdog, even though I try to be fair and balanced, which means I can't be quiet when I see inequities, people being treated unfairly, and laws that probably should be changed. Yet, I don't have any aspirations to enter law or politics, so I simply write about it and hope that my words will be read, perhaps to inspire action by somebody else better suited to tackle these issues.
Can't help my attitude: I don't like it and find it painful when I see naive people being taken advantage of, and especially when it … (5 comments)

reos: Sacramento Buyers Can Get a Good Deal on a Short Sale Without Lowballing the Price - 09/10/10 02:44 AM
I'm seeing a weird disconnect lately for Sacramento short sales. Part of the problem, I suspect, is the fact that buyers feel a bit uneasy due to our fragile economy. They are probably uneasy because they are confused about where the Sacramento real estate market is heading. They also might be working with an agent who is trying to make a personal career decision such as whether the agent should stay in real estate or look for a full-time job elsewhere. Without strong guidance, some buyers are left to flop about like a goldfish out of water.
Some of the offers … (5 comments)

reos: February Stats for The Real Estate Market in Sacramento County - 03/12/09 02:06 AM
Sigh. The inventory decline in Sacramento County continues. Our housing inventory (the number of homes for sale) dropped almost in half between 2007 and 2008. Over the past 15 months, it's dropped in half again. The problem is there is very little for sale. That which is for sale, if it's desirable, has multiple offers.
Here is a graph from Trendgraphix that shows the last 15 months of home sales activity in Sacramento County:

The number of bank-owned homes for sale dropped by 20% over the past 30 days. This is due in part to the moratorium on foreclosures and … (2 comments)

reos: Why Short Sales Can Be a Viable Strategy for Home Buyers in Sacramento - 02/25/09 01:06 AM
I am working with a group of home buyers in Sacramento whom, for varying reasons, do not want to buy a home until this summer. But this is February, and they want to get started home buying. The most logical choice for this group is to pursue short sales. Why? Because the market is still falling and most short sale prices are below the pending sales.
Also, because most regular home sellers would love to close within 30 to 45 days, and those sellers don't want to wait. They want to sell now. That's why their homes are on the market. … (16 comments)

reos: Double Ending the Short Sale vs Giving the Seller Highest and Best Shouldn't Be a Dilemma - 01/20/09 02:09 AM

Many Sacramento listing agents are receiving multiple offers, and not just on REOs or short sales. Any attractively priced, well appointed home in a desirable Sacramento location is likely to draw the attention of more than one buyer. The listing agent plays an important role toward helping the seller figure out which offer to accept because the highest offer isn't always the best offer.
On top of that, sometimes the listing agent will bring his or her own buyer to the table. In that case, the agent is operating in dual agency but it does not relieve the agent from … (15 comments)

reos: Sacramento 2008 Overview: Rising Sales, Falling Prices, Reduced Inventory - 01/16/09 01:53 AM
I received this handy chart from Lyon Real Estate a few days ago, which gives a pretty clear overview of what happened in real estate in Sacramento and its surrounding four-county area in 2008. What makes Sacramento a little bit different from other parts of the country is its huge drop in inventory and spike in REO sales. Lots of other major metropolitan cities are experiencing price drops, but those price declines typically are not coupled with falling inventory and rising sales like we're seeing in the Sacramento real estate market.
This is absolutely a fabulous opportunity for first-time home buyers … (5 comments)

reos: Foreclosure Sales in Sacramento Are Declining - 12/13/08 01:36 AM
Yesterday, I posted the last 15 months of homes for sale, pending and sold in Sacramento County through November of 2008. Below, is the chart that shows the last 15 months of bank-owned homes. There are a couple things I find interesting between the two charts. First, 33% of Sacramento County's housing inventory (homes for sale) in November were bank-owned homes, homes that have gone through foreclosure. Second, 72% of the closed sales in November were foreclosures. That translates to almost 1 out of every 4 homes sold in November was a foreclosure.

But look at the light green bars … (7 comments)

reos: Bank-owned (REOs) and Short Sales Lead Sacramento's Market - 11/19/08 01:19 AM
Here are a few charts from Trendgraphix that I thought you would find interesting. It shows the amount of homes on the market, the number of pending and the closed sales as of October 2008. The big chart directly below is the non-REOs for sale in Sacramento county, and you can see how the inventory is falling as more sellers remove their homes from the market:

The charts below show the tri-county region of REOs and bank-owned homes on the left versus non-reos on the right. You can easily see where the interest is in today's market. But it doesn't … (4 comments)

reos: Why Can't I Buy That Bank-Owned Home? - Why Some REO Lenders Won't Sell to You - 11/15/08 02:40 AM
Some Sacramento buyers looking for bank-owned REO homes are finding it difficult, if not impossible, to make an offer on a bank-owned home. Because not every REO lender will sell to them.
How can that be, you may wonder? Aren't banks eager to dump their foreclosured homes as quickly as possible? Why would an REO bank refuse to sell a home to an able and willing buyer?
John and Mary, let's call them, sent me an email asking to see a bank-owned home in the Alhambra corridor in Midtown Sacramento. This was a property I had toured several weeks ago, so … (15 comments)

reos: The Days are Getting Shorter and Showings are Getting Longer - 11/06/08 04:06 AM
Buyers for Midtown asked if I would show them property yesterday afternoon which, as Chris Ann Cleland points out, is a lot more fun than beating your head against the desk after hammering loss mitigators and negotiators all day. The buyers were from out of town and didn't know the Sacramento Midtown area very well, so I decided against suggesting that I drive with them. I drive a roadster, which holds all of two people, so I typically drive with my clients (if there are more than one) or I borrow my husband's car, the oh-so-economical and environmentally friendly Prius.
Driving … (18 comments)

reos: How is the Market Treating You? - 11/05/08 01:33 AM
How many agents right now are terribly busy, they say, but spinning their wheels? I have talked with other top producers in my office who say they are swamped but aren't making any money. It makes me wonder, what are they doing?When I go to parties and people ask, "How is the market treating you?" I reply, "Great. 2008 might be my best year ever." They look at me like I am a leper. But it's the truth. This has been a good year for me. Am I supposed to feel badly about that or make excuses for everybody else? I … (19 comments)

reos: The Reason Why Banks Are Slow to Respond to Foreclosures - 09/25/08 03:40 AM
The banks are taking a long time to decide on foreclosures for one reason: They can't do it any faster. Many asset managers are handling 500 files per month. The banks are overwhelmed with foreclosures and understaffed. Not only are they dealing with potential sales, but there are a flood of other homes in foreclosure that need to be listed and put on the market, in addition to tons of others receiving notices of default.
Banking insiders -- sources that I cannot name -- have told me the banks are withholding foreclosures from the market and releasing them when inventory begins … (19 comments)

reos: When Two Buyers Want to Buy the Same House in Midtown -- What Should an Agent Do? - 09/13/08 07:49 AM
I work with such a wide variety of clients that it's rare to run into a situation where two sets of buyers want the same house, but that's what happened last week. I had showed a Midtown home to a charming couple, we'll call them the Andersons, about three weeks ago. However, the Andersons decided to pursue an REO that ultimately sold way over list and at a price outside of their comfort zone.
While I continued to show the Andersons other homes, I called my new buyers, we'll call them the Johnsons, and told them about the home in Midtown, … (18 comments)

reos: Guess I was on CBS Radio and Didn't Even Know It - 08/27/08 08:13 AM
My managing broker called me into her office to chat today after our weekly meeting. She said an agent at another Lyon office called her because that agent's client was irate over something I said on a radio interview. I was sort of puzzled because I haven't done a radio interview for several months. Then it dawned on me. My managing broker had asked me earlier this week if I would call back a reporter who had actually called her from New York. She knows I give a lot of interviews. I recall the reporter asking me if it was OK … (7 comments)

reos: Oh, That Wild and Wooly World of REOs: You Never Know What Will Happen! - 08/14/08 04:07 AM
REOs buyers are some of the most patient buyers in the world, right next to those short sale buyers. While my heart goes out to them, I don't understand how they can withstand the pressure and wackiness of waiting for an answer to their purchase offer. In some ways, sending offers for bank-owned homes to listing agents is like dumping them into the great abyss.
Last week, I wrote an offer for buyers on an REO home in Natomas (Sacramento). Let's say it was priced at $325,000, just to disguise which home I'm talking about. The buyers offered $300,000. The listing … (31 comments)

reos: 8 REO tips for Buying Foreclosures - 05/14/08 02:17 AM
Credit this inspiration to an Active Rain blogger who asked the question about how to make banks accept REO offers, Jim Quinn. I responded on his blog, and he indicated that it was a great help. So, I decided perhaps I should write an article about it. After all, I've dealt with a ton of REOs lately, and my buyers have been winning those offers. Everybody, that is, except for one set of buyers who have very tight critiera. But overall, my buyers have won 99% of the time.
It made me wonder what am I doing right? What had I … (20 comments)

reos: A Solution to Getting Responses From REO Real Estate Agents - 05/09/08 07:55 AM
Many of the REO listing agents I know are hard-working and ethical agents. They have a ton of listings to process, and they don't always earn a full commission because banks negotiate hard on listing fees. I try to cut them slack when I'm writing offers on REOs because I realize that many REO agents won't answer or take phone calls. On top of which, banks can take two to three days, sometimes longer, to respond to an offer. It doesn't do any good to repeatedly call an agent to ask, "Did the bank accept my buyer's offer yet?" Because when … (39 comments)

reos: Sacramento Market: Under $300,000 Price Range is RED HOT - 04/20/08 03:41 AM
Oh, what I wouldn't give for an extra hour or two of sleep every night
I know it's not just me because when I walked into my office a few days ago, everybody I saw looked like something the cat dragged in. Many of the agents looked like zombie's walking: bloodshot eyes, heads drooped, feet dragging, followed by big yawns. I didn't have to ask about sleep deprivation because it was evident. One agent said she regularly stays up until 3 AM working, a few others didn't look like they had been to bed yet. 
My broker said it best: "It's a feeding … (11 comments)

reos: Buying Distressed Homes: Foreclosures, Short Sales & REOs - 12/28/07 05:04 AM
This is my "Lions and Tigers and Bears, oh, my!" photograph (to the left). Because I think that phrase amply illustrates how many buyers and sellers feel about distressed home listings such as foreclosures, short sales and REOs. The names sound ominous and perhaps a little frightening. Not to mention, there's a lot of confusion surrounding those terms. Throw a few court decisions and Presidential bills into the mix, and it's even more confusing. For example, in California, agents are prohibited from representing investors who want to buy a home in foreclosure. The main hold back is a bond requirement that … (12 comments)

reos: Most Short Sales Are Not Fantastic Deals - 10/31/07 10:25 AM
Because of my ranking in Google for short sales, I get a ton of phone calls from buyers (sellers, too), asking me to represent them to either handle a short sale or find a short sale home to buy. For starters, one doesn't need to look too far. In some areas of Sacramento, every other listing is a short sale. I don't take on every short listing that comes my way, and I don't work with every short sale buyer. Handling short sale listings generally means I am doing twice the work for half the money, and sometimes for no money … (7 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

Sacramento, CA

More about me…

RE/MAX Gold

Address: 3620 Fair Oaks Blvd, Sacramento, CA, 95864

Office: (916) 233-6759

Mobile: (916) 233-6759

Email Me

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  


Listings

Links

Archives

RSS 2.0 Feed for this blog