sacramento short sale agent: Former Model Home in Natomas Riverwalk Community for Sale at $185,000
- 04/19/09 02:55 AM
The sellers say they live on the best block on Riverwalk and their neighbors are wonderful. I haven't met any of the neighbors, so I can't personally attest to their wonderfulness, but the home has plenty of curb appeal. It is situated on a corner, which probably makes the home feel larger than it is, plus it gives the impression inside that there are no neighbors.
Because it was a former model home, it has tons of upgrades, which give it that special … (9 comments)
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sacramento short sale agent: New Listing: Secluded Folsom Townhome with Updates Offers Panoramic View at $219K
- 04/17/09 03:14 AM
Have you been searching for a townhome that will give you that lock-and-go lifestyle but still feels like a single family home? Then check out this exceptional home in Folsom. It's located just over the river (Folsom-Auburn) off the quiet side of Oak Avenue.
Rolling hills and immaculate curb appeal welcomes you to Folsom Bluffs as you turn left from Oak Avenue onto Deerwood Way. It's another world, away from the hustle and bustle of Folsom but close to the river and walking trails.
The home has 3 bedrooms and 2 baths, … (6 comments)
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sacramento short sale agent: I Now Know Why Some Sacramento Agents Never Answer Their Phone
- 04/15/09 02:35 AM
It has puzzled me for a long while now that some agents just don't answer their phone. You know the drill. They leave a message that says they will answer calls between certain hours of the day, like, oh, from 5 PM to 6 PM, creating an impression that your call is not important to them.
It has finally dawned on me why they do it. Not that I am going to implement that procedure, mind you, but I thought I'd share with you the reasons:
"The listing says 'call first, lockbox,' can I show this home tomorrow morning?" (Probably, but … (11 comments)
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sacramento short sale agent: How Many Times Do I Have to Sell This House or is the Third Time a Charm?
- 04/13/09 02:31 AM
Among my dozen or so short sale listings in Sacramento, sits a darling home in Orangevale that begs to close escrow. The first go-around brought 4 or 5 offers, half of which vanished by short sale approval. The banks approved the sale very quickly, too, in about 5 weeks.
Upon approval, we were down to 2 buyers, one of which had offered substantially more than the other, so the bank chose that buyer.
But that buyer hired a doofus home inspector who insisted the home had been through a recent flood. Nope, the sellers responded, there had been no flood. What … (18 comments)
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sacramento short sale agent: New Short Sale Listing in Sacramento: 9749 Red Cedar, Offered at $154,000
- 04/08/09 02:18 AM
This home is located near Bradshaw and Lincoln Village, just south of Highway 50. It has a popular open floor plan with vaulted ceilings. The living room and family room are divided by a sunken conversation pit, which has benches and a fireplace. This area creates a warm environment that is brightened by windows on three sides.
The kitchen is open to the family / living room combination, with a breakfast bar. A formal dining area is conveniently located between the kitchen and family … (3 comments)
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sacramento short sale agent: New East College Greens Listing With a Pool for $195,000: 2601 Kokanee Way, 95826
- 04/07/09 03:38 AM
This lovely Glenbrook home in East College Greens is coming on the market today, so run, don't walk, to view this gorgeous home. It has vaulted ceilings in the dining room and a step-up family room, with an open floor plan. The entry is open to the dining room, kitchen and family room, which means the home has a sought-after layout.
It features 3 bedrooms, one of which is located off the entry, making that bedroom suitable for a home office. The … (7 comments)
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sacramento short sale agent: New Natomas Listing: 2007 Beazer Short Sale Home for $184,500
- 04/06/09 03:04 AM
Here is a 2007 Beazer home in Natomas, which has four 4 bedrooms, a loft that includes a built-in desk with overhead maple cabinets, three baths, all for $184,500. There is nothing like this on the market in Natomas. Beautiful cherry wood floors in the kitchen and entry way. Ceramic counters in the kitchen, plus a breakfast bar, Kohler sink, and GE appliances. The kitchen is open to the family room.
Family room shares space with the dining room and it has soaring ceilings. You can look down on the family room from the second-floor hallway and loft. Upstairs' laundry … (5 comments)
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sacramento short sale agent: Here Are 3 Ways to Figure Out How Much to Offer on a Sacramento Short Sale
- 04/05/09 03:06 AM
I tell all my Sacramento short sale and foreclosure buyers to disregard the list price these days. Because list price, in most instances, means absolutely nothing. It carries little weight in this market. It's a starting point, but it's rarely the end point.
Over the past few days, I've received a ton of phone calls on several of my new short sale listings. Only one agent asked me why it was priced so low. But everybody asked how high they had to go to buy these homes, which I can't tell them.
Here's are 3 things an agent representing a Sacramento … (13 comments)
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sacramento short sale agent: This Crazy Sacramento Market is Calling for Desperate Measures to Buy a Home
- 04/04/09 03:14 AM
The biggest problem we face in Sacramento right now is not falling prices nor the number of foreclosures and short sales. It is inventory. We have no inventory! Much of it is junk, and that which is not has agents fighting over it.
The stuff that happened yesterday is a good indicator.
First, I put a new listing on the market and within hours of hitting MLS, my phone started ringing. One agent complained that the home wasn't clean enough to show her buyers. She asked me if the sellers were planning to clean it more thoroughly and even went so … (15 comments)
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sacramento short sale agent: Representing Sellers and Buyers in Sacramento's Market: Which Hat Am I Wearing Today?
- 04/03/09 03:24 AM
My brokerage calls me a listing agent because I represent a lot of sellers and sell their homes. Most traditional real estate practice guidelines push for agents to list homes, especially in California, because that's the bread and butter of this business. However, regardless of how many listings I sell, at the end of the year, I tend to end up with production consisting of about 50% sellers and 50% buyers.
Unlike some agents, I rarely represent clients in dual agency. It would take an unusual situation for me to work in dual agency because it's virtually impossible to represent two … (18 comments)
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sacramento short sale agent: Talk About Feeding on Sacramento's Foreclosure Woes
- 04/01/09 02:20 AM
If it's happening in Sacramento, it's most likely happening in other parts of the country as well. I mean, nobody is happy when a home goes into foreclosure -- or when that notice of default is received. But crooks are alive and well whenever disaster strikes, always looking for a way to turn a fast buck over somebody else's misfortune, and this depressed economy lends plenty of opportunity for scammers.
Yesterday, while I was in Target buying iPods for a seller whose short sale just closed -- thinking about salmonella, wondering when was the last time I gobbled a handful of … (10 comments)
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sacramento short sale agent: Don't Let a Short Sale Agent Hold Your Offer in Back-Up Position -- Report Them
- 03/27/09 08:37 AM
Either some listing agents are unaware of their fiduciary responsibility to their sellers or they don't read the REALTOR® Code of Ethics, because many agents are violating both. It is absolutely a misnomer that a Sacramento short sale agent can refuse to send a buyer's offer to the seller(s).
I know this practice is more wide spread than my personal experience has shown because I get asked the same question from other agents who ask to write offers on my Sacramento short sale listings. They say every short sale agent handles it differently. They ask me if I am sending all … (61 comments)
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sacramento short sale agent: Why Would You Ever Leave Your Real Estate Agent or Your Agent Leave You?
- 03/25/09 02:32 AM
When I briefly explain my Buyer 50-Point Presentation during an initial counseling session with buyers, I touch on what happens after escrow closes. What happens is I never go away. I don't disappear after closing. If buyers have a question months or years down the road, even if it's "My cat got loose; how do I find him?" they can call me. I make that promise and stay in touch with my clients.
Last night I submitted an offer and signed a buyer broker agreement with a new client. She is a bright, articulate and charming young woman who grew up … (12 comments)
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sacramento short sale agent: The Newest Wrinkle in the Sacramento Home Market
- 03/23/09 03:40 AM
Inventory (the number of homes for sale) is very low right now in the Sacramento home market. Trendgraphix reports show 5,251 homes on the market in February of 2009. In October of 2007, we had 10,320 homes for sale. By comparison, in October of 2005, we had more inventory -- 6,860 homes for sale -- than we do now.
So what's for sale in Sacramento? Here are some of the types of listings buyers will find:
Foreclosures -- these are bank-owned homes. Most of these are sold "as is" and receive multiple offers. Short Sales -- these prices are fabricated. Some … (9 comments)
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sacramento short sale agent: Dealing With an Absence of Comparable Sales in Sacramento
- 03/21/09 02:37 AM
As most astute Sacramentans know, the comparable sales in many neighborhoods consist of short sales and foreclosures. Almost 75% of our closed sales in Sacramento these days are foreclosures and short sales. But let's look beyond that phenomenon and think about what happens when these homes are resold, and how value will be determined.
Some experts are predicting that Sacramento will hit the bottom of the market this summer. I believe in some neighborhoods it happened a while back, and we've been scrounging around the bottom for some time now, like chickens pecking for grain. Because we have little inventory.
… (13 comments)
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sacramento short sale agent: What Would Happen if Everybody Just Did the Right Thing?
- 03/16/09 03:20 AM
Yesterday I opened a bill from UC Davis. It was for an overage I owed for an annual exam last year. I found another invoice inside my bill for a different patient. I set it aside. When I later grabbed my checkbook to pay the bill, I looked again at the second invoice. It was for a person who lived in Galt. To be honest, my first instinct was to throw the invoice into the trash because it wasn't mine. My hand was 6 inches away from the shredder. Nobody would know. But I couldn't throw it away. I would know.
… (26 comments)
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sacramento short sale agent: Buuuuuut, My House is Worth More Than Those Foreclosures and Short Sales
- 03/15/09 02:15 AM
"If I could only find an agent who sees things my way," whined a wanna-be seller. First he tried to refinance, but the mortgage broker ran the comps and couldn't justify the value. Then he considered selling, but only if he could find an agent who truly understood the value of his home.
Harry, we'll call him, bought a home in Sacramento two years ago for around $300,000. Part of his problem was the ZIP code -- that area was, and still is, depressed. Harry, blinded by the falling market in Sacramento and feeling it affected everybody else in town but … (25 comments)
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sacramento short sale agent: Who Let the Cat Out of the Bag About Elk Grove?
- 03/14/09 03:00 AM
A Business Week reporter finally caught wind of what's been going on. Well, to be fair, the reporter had access to a study completed by First American Logic in Santa Ana and tweaked it a bit.
That study showed that most of the top 25 ZIP codes for fast-paced home sales activity are in California. So Business Week narrowed the choices to ZIPs with 10,000 households and picked only one ZIP per metro area. This resulted in the Elk Grove ZIP of 95624 landing in the national number 10 slot of most improved real estate sales for fourth quarter of 2008.
… (9 comments)
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sacramento short sale agent: Sacramento Short Sale Sellers: Look Out For Those SMUD Liens
- 03/13/09 03:03 AM
What's new in Sacramento short sale land? If you're a Sacramento home owner who has financed energy-efficient improvements for your home through SMUD, you may not realize it but SMUD files a lien against your home. Ordinarily, you wouldn't be concerned about this unless you're facing foreclosure or trying to do a short sale.
The thing that most people don't realize is a SMUD lien survives foreclosure. It is not wiped out. It stays secured to the property, much like a mechanic's lien and a UCC (Uniform Commercial Code) filing.
Say, for example, you install $10,000 worth of new dual pane … (12 comments)
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sacramento short sale agent: If Countrywide Sells Your Short Sale Promissory Note, Pay Attention
- 03/07/09 01:01 AM
Ever since the news broke last year about the handful of former Countrywide execs who teamed up to form a new company, Private National Mortgage Acceptance (PennyMac for short), based in Calabasas, California, I've been keeping my eye on this firm. Some people were astonished that the hand that starves is also the hand that feeds, but that's the nature of the so-called business: The Phoenix will rise again.
Then the New York Times carried a follow-up story last week that these very same executives who helped send Countrywide to its knees are reporting that business at PennyMac is fabulous, and … (8 comments)
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