You might be wondering about the real estate market in Sacramento. The truth is it's way better to be a seller in Sacramento right now than to be a buyer. But that doesn't mean if you're a seller and a buyer that you're hosed. Be happy that you're not living in New Delhi where the monkeys are running wild in the streets, biting people and snatching bags from people's hands. Authorities have trapped something like 13,000 monkeys since 2007. Although I can certainly see the comparison to home buying and selling in Sacramento. It's a crazy market. Too bad we can't trap a few buyers around here; it would certainly calm down the market.
An agent sent me a full price cash offer on a Sacramento short sale last week that got lost. Who knows what happened to it because she did not follow up until a few days ago. I had never received it from her. I know I never received it because I track receipts of purchase offers 3 different ways, and she wasn't in any of those systems. Plus, I keep deleted emails for a month or so, and her email address did not pop up in a search. Why agents don't always request confirmation of offer is beyond me.
Fortunately, this short sale was still available. However, the agent did not complete the short sale addendum in the manner the seller desired, so we had to prepare a counter offer. We had short sale approval on this property previously, which means I know how long it took the bank to approve this short sale. See, most short sales are not approved in 45 days. That is a fallacy. As a Sacramento short sale agent, I also know that what happens in a short sale previously is not always a measure of what will happen in a new short sale on the same property. There is no guarantee the negotiator will follow the same guidelines or make the same requests or even issue the same approval. It's a messed-up procedure because it involves human beings who work at banks.
Which makes me think of the Eddie Izzard skit I watched a few nights ago. He did a riff on Charlton Heston and monkeys with guns. He said: Guns don't kill people, monkeys with guns kill people. Sometimes, you've just gotta take a break from Sacramento short sales and monkey doo and focus on something else for a while.
Because after we sent the counter offer to the buyer who so desperately wanted to purchase this short sale, the buyer rebuffed it. He said he wasn't willing to wait for short sale approval. That's the only thing we asked him to do -- to wait for short sale approval. Nope, he wasn't gonna do it. Well, I guess he is not a short sale buyer for us. He can go make somebody else's life miserable.
I'm just thankful we discovered this problem now and not when we received approval. See, there's always a silver lining. Stay away from the monkeys.
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