The Trouble With Sacramento Fixers and a Short Sale

By
Real Estate Agent with RE/MAX Gold DRE #00697006

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 finding investors who are willing to make reasonable offers, wait for approval while I persuade the bank that the offer is viable, highest and best. Fortunately, I've come up with a solution for that dilemma.

You can read more in my personal blog today about this at the following link: Tips for Selling a Fixer Home in Sacramento as a Short Sale.

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Weintraub and Wallace Realtors

 

 

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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.

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Topic:
ActiveRain Community
Location:
California Sacramento County Sacramento
Groups:
Northern California Real Estate Professionals
California Short Sales, REO's, and Foreclosures
CALIFORNIA REAL ESTATE
Short Sales Specialists
Lyon Realtors
Tags:
sacramento realtor
sacramento short sale agent
selling a fixer home in sacramento
selling damaged homes in sacramento
homes in sacramento for sale that need work
how to get banks to take lowball offers

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Rainmaker
1,252,231
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Good afternoon Elizabeth,

We have an abundance of investor's rehabbers etc. the difference here is the properties have a list price for what they would sell for in A1 shape. Any offer that is not close and with 10% is automatically rejected and some of these properties have been on the market close to a year. The banks have unlimited funds and keep holding out.

Make yourself a great day.

Oct 29, 2015 03:16 AM #1
Ambassador
3,085,243
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

I've got to change the description of one my short sales to be a bit more detailed on the deficiencies, hence the reason for the lower price.

Oct 29, 2015 09:48 AM #2
Rainmaker
2,889,886
James Dray
Fathom Realty - Rogers, AR
Exceptional Agents, Outstanding Results

Good morning Elizabeth.  This line caught my attention. My office assistant called me etc.. Why doesn't everyone just be honest and tell it like it is?  This would just make our job easier.  

 

Oct 29, 2015 07:48 PM #3
Rainmaker
2,250,289
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Elizabeth. I do a lot of FHA 203 K business, the crazy part is the majority of this business comes as referrals from banks and credit unions that just don't want to do these loans.

Oct 29, 2015 08:24 PM #4
Rainer
1,756,848
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Elizabeth.  Sending pictures with the cost to cure is brilliant.  Even the dumb ass banker can understand the issues.

Oct 29, 2015 08:44 PM #5
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