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The Proactive Approach to a Fannie Mae Short Sale in Sacramento

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

At least when an agent is dealing with a Fannie Mae short sale, even with all of its supposed improvements, the agent is still dealing with the devil she knows. These government-sponsored entities, although winding down operations, have been the proverbial thorn in every short sale agent's side, from California to Maine for years. It doesn't matter whether the investor is Freddie Mac or Fannie Mae, both are equally a PITA to a Sacramento short sale agent.

You can't ignore them but you can find a way to somewhat work with them. I believe in taking the proactive approach to my Sacramento short sales. Read more in my personal blog today about Same Fannie Mae Short Sale Wrinkle But Different Approach.

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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(4)

James Dray
Fathom Realty - Bentonville, AR

Morning Elizabeth unless I have the buyer I just don't deal with the short sales.  99.99% of the people will not have the patience to hold on until they get the approval.

Mar 13, 2014 08:13 PM
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Elizabeth.  That is a great idea for the status in MLS.  Good luck with that

Mar 13, 2014 08:25 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

We have a similar status in our MLS system, Elizabeth.  (PCS - Pending contingency short sale)  It is supposed to mean that the listing agent is accepting back up offers.  Unfortunately,it is often misunderstood and not used correctly.

Mar 13, 2014 10:04 PM
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

Hi Elizabeth.  Great info.  Our MLS has a "Lender Approval Required" button.  Sadly not all the listing agents know what it means...

Mar 14, 2014 12:51 AM