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How to Tell If that Sacramento Short Sale is REALLY for Sale

By
Real Estate Agent with Elizabeth Anne Weintraub, Broker DRE #00697006

Sometimes, when I try to help Sacramento home buyers decipher listings in MLS, they get frustrated with MetroList and they take it out on me. Sometimes they yell. I understand how frustrating it can be when you want to buy a home in Sacramento and you can't figure out the information available to you. I wish MetroList would make it easier for home buyers but we've got the system we've got.

There is a secret, though. If you don't know the secret, you will never be able to figure out whether that Sacramento short sale is really for sale. I'll give you the secret so you'll instantly know whether you can buy that short sale or not. Even some agents in Sacramento don't know this secret.

Read more on my personal blog today about Active Short Sale vs. Active Short Contingent.

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Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

Comments(6)

Dan Hopper
Dan Hopper - Gold Way RE - Westminster, CO
Colorado Broker / Referral Services

Elizabeth, it is amazing how many times somone inquires about an address, and wants us to show them the property, and of course it was on Zillow or Trulia... and the property is NOT for sale, nor has it been for sale.  The general public does need to know how to look for the right language to determine that!!

Mar 05, 2013 01:32 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Your MLS definitely gives more options than ours. We have the same statuses for Short Sales as regular sales.  Contingent No Kick Out, Contingent with a Kick Out and Contract.  I can see why it would be confusing for buyers who are looking at Trulia or Zillow and seeing what they think is an active, available listing, that in reality is only taking back up offers.

Mar 05, 2013 05:49 AM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

You have to go to the expert Elizabeth, and that is YOU. People have to quit wasting time doing some much "in error" on their own. Excellent point with short sales...

Mar 05, 2013 07:30 AM
Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

It is a strange category because it still shows on the IDX even though you've got your stuff into the lender.

Mar 05, 2013 10:40 AM
Elyse Berman, PA
LoKation Real Estate - Boca Raton, FL
Boca Raton FL (561) 716-7824

Hi Elizabeth,  We have that same problem here with regular sales.  We have a contingent status for contracts pending inspection, appraisal, etc.  They show as active on the search engines until we pend the listing.  It is very confusing to buyers when they inquire about a property only to find out there is a contract on it and has been for a month.  I send  the mls listing so they can actually see what I'm talking about, but I feel like I have to convince them when they should be able to see it for themselves.  

Zillow and Trulia are another story altogether.  

Mar 05, 2013 10:59 AM
James Dray
Fathom Realty - Bentonville, AR

Had an email last night and they wanted to see a place that sold in early 2012.  they couldn't understand the place was still showing current on the internet.  Interesting isn't it.

Mar 05, 2013 07:32 PM