sacramento short sale agent: Who Is to Blame When a Short Sale Goes to Foreclosure?
- 10/04/16 03:21 AM
I have a remedy for sellers of a short sale who ultimately end up in foreclosure. In fact, I am amazed that the short sale addendum in California does not seem to address this problem. Because every so often, a short sale will go to foreclosure. It doesn't happen anywhere nearly like it used to 10 years ago, but there are still short sales in Sacramento that can end up at a trustee's auction and, even with holding a viable offer, the bank won't postpone the auction. However, this is not really the bank's fault. Would you like to know whom … (4 comments)
sacramento short sale agent: Why Short Sale Banks Do Not See Reason
- 05/10/16 01:33 AM
Sometimes agents around the country still call me to discuss short sale dilemmas. You'd think after all the winding down of short sales everywhere, that agents would have a better handle on how short sale banks operate. I still see the same attitudes today in Sacramento as 10 years ago. Nothing has really changed. Yesterday an agent in Florida called to talk about the senseless actions of a particular bank. I've worked with that bank on many other transactions, and maybe I've just hardened to the process. I focus on what it takes to get approval on my Sacramento short sale, not … (10 comments)
sacramento short sale agent: Agents Who Recognize Short Sale Fraud
- 05/02/16 03:28 AM
My friend and agent Hella Rothwell beat me to it this morning. Before I could post my blog here, she was already emailing to ask if there are any recent scams I could talk about. I suspect that's because she subscribes to my blog via my personal website, so my daily blog is emailed to her, heh, heh. But yes, there is a recent example of a scam in the works. The agent who proposed it to me seemed to be very proud of the way he conducts his business -- he bragged about it in his email -- and a … (11 comments)
sacramento short sale agent: Short Sales and Income Tax Liens
- 03/08/16 09:51 AM
Fortunately, the number of short sales in Sacramento have been dwindling. Just ran a check in MLS, and there are 4,085 listings that are regular homes with equity in active status or pending status, which isn't very many, btw. And there are 356 short sales that are either active, active short contingent or pending short lender approval -- or about 8% of all homes on the market that are for sale or pending. The short sales that come across my desk in Sacramento right now typically seem to involve a myriad of issues. It's not just one loan. Often it's two or … (8 comments)
sacramento short sale agent: The Trouble With Sacramento Fixers and a Short Sale
- 10/29/15 02:51 AM
Fixers in Sacramento are not for everybody. In fact, few ordinary first-time home buyers want to touch a fixer home in Sacramento. They don't know anything about fixing up homes and don't want to. The buyers for damaged homes are investors. And we have no shortage of investors in Sacramento who want to buy a fixer home. The really big time for investors and flippers was several years ago, but even those late to the party are trying to jump in and become a megastar flipper. I have no problem finding investors to make an offer. What I have problems with are … (5 comments)
sacramento short sale agent: How Fast Can A Short Sale With Two Loans Close?
- 08/17/15 02:30 AM
When we first went into escrow on this Fannie Mae short sale home in Fair Oaks, the buyer's agent seemed very hesitant. She's not an agent I knew or had worked with in the past and is an independent agent who works by herself, I believe. She had done a few short sales of her own, and I'm not sure her experiences were pleasant. Not every agent has the wherewithall to deal with short sales and some of the ridiculous things that can happen. I often hear agents lament that banks should do this or banks should do that or how can … (12 comments)
sacramento short sale agent: No Dragging of Feet on Sacramento Short Sales
- 07/19/15 02:30 AM
It is almost unbelievable that I am still selling a big percentage of the short sales in Sacramento because so many of my sales month after month are from sellers who have equity. Plus, the equity sales typically involve tougher negotiations, if you want to know the truth. Buyers realize they can't get away with much on a short sale anymore, but those equity sales, if there are not multiple offers involved, can present challenges. Still, it's going to be a good month for this Sacramento Realtor in July. I'm astounded myself when I look at the numbers. You can read more … (3 comments)
sacramento short sale agent: When is a Seterus Short Sale Not a Short Sale?
- 06/19/15 01:57 AM
The games played among lenders in a short sale never cease to amaze, and I guess they get away with it because nobody reports them. Who is gonna complain in a short sale? The real estate agents are too busy with other transactions to hop on a white horse. The sellers just want out. The buyers just want in. And the fat cat bankers are leaning back to smoke those cigars and down that glass of bourbon, counting all the money. Recently, the newest thing I've seen is for a short sale bank to decide it is owed all of the back … (5 comments)
sacramento short sale agent: How Do You Know if a Seller Qualifies for a Sacramento Short Sale?
- 06/06/15 02:18 AM
Remember those old articles in some women's magazine, Can This Marriage Be Saved? That's what ran through my head this morning when I began to write my personal blog today about whether a seller can qualify to do a short sale. Unlike the couples in those magazine articles, I care about my sellers. I don't much care about whether somebody's marriage can be saved and it always astounded me as to why so many people did care until the day it occured to me that people have problems in their marriages, duh. Plus, I imagine many spouses fantasize about what their lives … (9 comments)
sacramento short sale agent: When Your Citi Bank Short Sale Ends up in Recovery
- 04/10/15 03:22 AM
Every Sacramento Realtor worth her salt who works on short sales knows that when you've got a second loan with Citi Bank that runs past 6 months delinquent, it goes to a recovery department. That's how many second loans work on a short sale, they write them off in collections, but it also makes the whole process a lot harder for the short sale. Recovery tends to want more than what is standard and they don't always participate in the HAFA requirements, and let's just face it, recovery can be a royal PITA. The way it happens is let's say you get … (5 comments)
sacramento short sale agent: Nationstar Auctions for Short Sales
- 02/16/15 04:10 AM
Nationstar has switched auction companies, and I read somewhere that they own the new auction company, but I have not verified that rumor, and I don't really care. The auction process is still the same. Nationstar picks some goofy low auction price and buyers are supposed to place bids over a certain time period. If you're under contract with an existing buyer, that buyer is allowed to register for the auction site and place a bid as well, with one little exception, the original buyer, if the winning bidder, does not have to pay the Auction company a 5% premium; whereas … (8 comments)
sacramento short sale agent: How Do You Know if That Short Sale Will Get Approved?
- 02/10/15 01:29 AM
In the Sacramento MLS this morning, I noticed we have 157 active short sale listings in Sacramento County, and 2,269 active regular listings. Short sale listings -- not counting those that may never close but are pending in some fashion -- make up about 6% of our total listing inventory, which is extremely low. It means given the choice between buying a short sale or buying a regular home, many buyers, especially those who want to close quickly, will pass on a short sale opportunity. If they do decide to buy a short sale, they often want to hit the price … (5 comments)
sacramento short sale agent: The FBI and Mortgage Fraud in Sacramento Short Sales
- 11/07/14 12:17 AM
One of the things that I have learned over the years of doing Sacramento short sales is how to present a short sale package to the bank so it will be accepted and keep the seller out of jail. I often run into sellers who have their own ideas of how the short sale should be handled and sometimes I have to say no to listing their short sale. I had a short sale listed in Novato a few years ago as a favor to a friend in which the seller wanted to commit short sale mortgage fraud. They refused to … (8 comments)
sacramento short sale agent: Story of a Short Sale Home in a West Sacramento Gated Community
- 10/31/14 04:47 AM
Some of our real estate transactions create fleeting memories that hang around for a few days after closing and then we promptly forget all about them as they go POOF and something else takes over that position. It seems for me that it's the more challenging real estate listings that I seem to remember for the longest period of time. The listings in which not necessarily the parties to the transaction were a problem because many uproars are not caused by the sellers nor the buyers -- it's those pesky third-party people that can disturb what would otherwise be a nice, … (4 comments)
sacramento short sale agent: The Sacramento Short Sale That Lasted Over 2 Years
- 09/04/14 02:21 AM
My partner in crime and I are going out to Waterboy to celebrate our endurance over closing this Sacramento short sale in Carmichael, which lasted for more than 2 years. You get to know people fairly well when you're working with them over a two-year period. With the bulk of my real estate sales in Sacramento, I meet the sellers, offer staging ideas, shoot professional photos, pick a price, suggest the buyers pound sand when they try to renegotiate and successfully close the transaction, all within a few months. These are not long relationships. In fact, with some, especially the escrows … (9 comments)
sacramento short sale agent: Why Not Every Listing is a Home in Sacramento That An Agent Can Close
- 08/11/14 01:37 AM
As a veteran Sacramento real estate agent, I have an uncanny ability to look up the information about a short sale home listing online and determine whether it is likely to close escrow. It's not like I have a crystal ball or anything, but I've got experience and it's an experience I'm happy to report that I learn from, which is how we generally acquire specialized knowledge. It helps, I suppose, that I have a title and escrow background that often comes in handy, but I also enjoy the knack, a gift of sorts, that lets me look through information in the … (3 comments)
sacramento short sale agent: An Abysmal Chase HELOC Short Sale in Sacramento
- 08/01/14 01:56 AM
It's always a pleasure to complain about a Sacramento short sale after it closes because it's payback and release time for the crap that some banks like the Chase HELOC short sales put us through. Just yakking about the complications and how I handled them helps me to move past the crisis and get on with my other life as a Sacramento real estate agent and scratching post for 3 cats. Of course, it also opens a can o' worms for other short sale agents all across the country to then call and leave lengthy voice mail messages on my cell, … (7 comments)
sacramento short sale agent: The Bugaboo in Hamp Rate Resets on Those Sacramento Loan Modifications
- 07/19/14 01:12 AM
I've been so busy lately taking care of my listings in Sacramento that I haven't come up for air to analyze what's going on, but this morning I read a blog on Active Rain warning about the HAMP rate resets. Suddenly, it became crystal clear that the day I feared would happen many years ago is about to arrive, and it's why so many sellers are all of a sudden calling me to negotiate and sell their home as a Sacramento short sale. They have a HAMP loan modification. Of course! I actually saw that one coming but forgot about it. … (7 comments)
sacramento short sale agent: The Miracle Sacramento Short Sale Closing That Had No Chance in Hell
- 06/14/14 02:28 AM
Every so often a Sacramento short sale comes along that becomes the mama of short sales and presents a compelling story to share. This is one of those short sales. It was overpriced by the bank. It had two loans, and the second lender was Green Tree, which is not a favorite among many Sacramento short sale agents. On top of this, the sellers had a SMUD lien for windows filed against the home, and banks generally don't pay (approve payment for) those types of UCC filings in California. It needed a new roof as the existing roof was shot. It … (6 comments)
sacramento short sale agent: Why Buyers Might Not Want to Buy a Short Sale Today
- 05/24/14 02:53 AM
The only way most buyer's agents in Sacramento will show a short sale is if there is nothing else for sale. However, even in the midst of low inventory like our spring housing market in Sacramento, buying a short sale is not high on a buyer's list of desired priorities. That's because most home buyers want to move into their new home about 30 days after making an offer. That time period is unrealistic in a short sale, and it won't happen. When 70% of the listings in Sacramento were short sales or foreclosures, buyers didn't mind waiting through the short … (8 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.
I have a remedy for sellers of a short sale who ultimately end up in foreclosure. In fact, I am amazed that the short sale addendum in California does not seem to address this problem. Because every so often, a short sale will go to foreclosure. It doesn't happen anywhere nearly like it used to 10 years ago, but there are still short sales in Sacramento that can end up at a trustee's auction and, even with holding a viable offer, the bank won't postpone the auction. 
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