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Elizabeth Weintraub
The Meaning of Win-Win in Real Estate is Usually Singular
Win-win in real estate doesn’t really exist in seller’s markets.
My second husband, who is dead now, used to talk about win-win in real estate all of the time. He truly believed that transactions could be win-win. His reasoning? The seller would get the home sold at list price, although not necessarily the way they wanted, and the buyer gets everything the buyer wants. That’s not win-win to me. This guy believed in win-win so much because he always believed his own lies. You know, sort of like Trump, when he repeats a lie enough times, he believes his own alternative facts.
In fact, and don’t laugh, we once owned two tiny Yorkshire terriers. He named the dogs win-win. Win-Win 1 and Win-Win 2. We couldn’t housebreak either one of them, so how win-win was that? They got new homes with our friends.
Sometimes I get buyer’s agents asking for a win-win transaction. Which is a myth. I don’t know where they get this crap. Maybe from my dead ex-husband. He was a national seminar speaker. Which means shit. Usually agents mean they want the seller to discount the price so their buyer can afford to buy the home. I say if the buyer can’t pay list price, maybe the buyers should be looking at a listing they can afford.
But of course, I represent sellers, so I would think that way. In my opinion, my sellers should get list price or better. Sellers hire me for that reason. If a buyer wants to buy the home, that’s the price of the home. If they want to get a “deal,” they are barking up the wrong tree.
Some buyer’s agents complain to me. They say I should be “more cooperative.” Meaning I should favor the buyer. That’s not gonna work. It’s a bit audacious for an agent to suggest. Look buddy, do you want to buy the home? Then pay the price the seller has agreed to sell at. Otherwise, mosey on down the road. There is no true win-win in real estate. In my world, one party always makes out a little bit better.
Especially in our Sacramento real estate market of today, it is the buyers who need to conform. Not the sellers. If sellers give away part of their profit, it’s called compromising, not win-win. Rarely do I see sellers willing to give money to the buyer. The team members on the Elizabeth Weintraub Team write offers that get accepted because they are not trying to play the win-win game, either.
Why a Nonprofit Employee Might Not Get a Mortgage
It is devastating for a nonprofit employee to learn she cannot buy a house.
Today I’m writing about why a nonprofit employee might not get a mortgage. Nobody, especially sellers, wants to hear at the 11th hour their buyers cannot close escrow but every so often it happens. We suck it up and move on to find the next buyer. Still, it stings and is frustrating for sellers. It’s particularly irksome when you hear the mortgage loan officer did not read all of the loan documents.
Headache avoider tip for Sacramento real estate:
Professionals should always open documents and read them before forwarding the attachments.
My sellers asked, because I mentioned it, whether they could seize the buyers’ deposit. That’s always a touchy situation, especially when the buyers have not released their loan contingency. Technically, the buyers’ mortgage lender rejected the loan. Turns out the nonprofit the buyer worked for was losing its grant in 6 months. Yet, another aspect that can go haywire. Now I need to be wary of buyers who work for nonprofits. Because a nonprofit employee might not get a mortgage.
Although the grant is usually renewed for 3 years on its anniversary, the underwriter said no loan for them. A different mortgage lender then assessed the situation and said he could do the loan. The buyer’s agent emailed me to say the buyers are approved with the new lender. That’s the stickler for demanding the deposit. Because the buyers said no. They were done with the whole ordeal.
Did they have a right to give up? Especially after executing an extension?
The buyers initially asked the sellers give them another week extension. We had the signed extension from the buyers. They had agreed to try again. Now the buyers in a fit of frustration decided against that action. It was a worthwhile action to pursue, I felt, because the chances of winning that deposit, although not completely clear cut, were enough to argue.
After laying out options for the sellers, the possible long drawn-out battle in a court that doesn’t always follow real estate law, advising them to seek the advice of legal counsel, they decided it was better to put their home back on the market. As a new listing, of course, with a brand new MLS number. No reason to stigmatize the sellers or the property because the buyers could not get a loan or were unwilling to give it a second try. I’m stuffing this scenario into my red flag list because a nonprofit employee might not get a mortgage.
Part of me says a battle for earnest money would make an interesting court case. But the part of me who works for the sellers and must keep the sellers’ interest first, well, that part said it was best to find a new buyer. The sellers agreed.
Onward and forward. Sometimes a Sacramento Realtor must sell a house twice and get paid once. Nature of the beast. If you’re looking for a fabulous remodeled home with a permitted addition in Sacramento, call Elizabeth Weintraub at 916.233.6759.
To Kill a Gecko Helped Alleviate Home Seller’s Frustration
I would not kill a gecko outside on my lanai, but inside the house, yes.
I murdered a gecko yesterday, and honestly, I did not think I had it in me to kill a gecko. But ever since that assault in Carmichael happened I can’t shake the notion of buying a gun. Guns are for killing people, no sense buying a gun if you don’t intend to kill another human being, if it comes down to it.
It was just a reaction. When I got out of my car in the garage, I spotted a gecko running across my tools on a shelf. Instinctively I grabbed the closest tool, which was a brush attached to the end of a broom handle. This is the tool I use to clean gecko poop off the house. My intention was to scoot the gecko along until I could push him out of the garage door into the grass.
My intuition was not to kill a gecko. However, he continued to evade me. Dashed up and down the wall as the broom brush went after him. I was so close to guiding him out the door when he suddenly jumped. Did you know geckos can jump? They wind up that little butt, give it a whirl, and they leap.
This activity went on for about 10 minutes. He’d slither behind my shelves to rest in Christmas wrapping paper. Bam, I whomped the paper and sent it flying, hoping to scare the critter toward the door. The door to freedom. But he wasn’t having any of it. He was frantic. Probably wondering why I was going after him when I never had before. To him, I appeared like Jack Nicholson in The Shining, axe chopping through the door. Here’s Johnny.
Only this was Heeeere’s Elizabeth. Mad woman. When the gecko ran into the window blinds, my fast reflexes smushed him. Bent one of the blinds, too. I hadn’t yet managed to kill a gecko, though, because he fell to the ground, still wiggling. I looked at the window and saw a smear of guts. Then I jabbed the broom brush on top of him, really hard. He stopped moving. Yup, the realization swept over me. I killed a gecko.
Oh, well, they usually come in pairs. Although I have never seen two geckos in the garage. Only one. If they are in the house or garage, fair game. Soaking wet, getting out of the shower last night, I noticed a baby gecko was in the shower with me. I calmly grabbed a flyswatter and with one fell SMACK, he dropped to the shower floor, motionless. Not only did I kill a gecko, but it was two in one day.
Later, while talking with my clients in Sacramento last night about buyers who are canceling because they cannot get a loan, the gecko episode came up. The sellers were considering making a demand for the buyer’s deposit. I explained the rigamarole and suggested they might not want to pursue it. It’s not like they really have claim to the money. They were frustrated by the experience because nobody expected it.
The reason the buyers couldn’t get a loan is because one of them worked for a nonprofit. The nonprofit operates on grants. Like a passport can’t be used within 6 months of expiration, well, this particular nonprofit’s grant expired in 6 months. Even though it would probably be renewed for another 3 years, that wasn’t good enough for the underwriter. No loan for that buyer. I’ve never run into this situation before, and I have 43 years of real estate.
I said I understand the urge to want to cause the buyers a bit of pain for the upheaval those people created. In the long run, I pointed out, they just want to sell their house and close escrow, not create more drama. Then I shared that I killed a gecko for them instead. After laughing, they said it did make them feel better. So the death of a gecko served a purpose.
How to Ship a Subaru to Big Island from Oahu
It was easier and less $$ to ship a Subaru from Oahu to Big Island than buy on island.
It is cheaper to ship a Subaru to Big Island from Oahu than it is to buy a Subaru on the Big Island. That’s the lesson I learned while trying to figure out whether it was better to focus on buying a car in Hawaii vs shipping a car from California. What you lose in sales tax and shipping is not enough to make up the difference in the sales price when you send a brand new car from California to Big Island.
Far easier and much simpler to buy the car at any other dealer than the Subaru dealer on Big Island. The Subaru dealer charges too much on Big Island. It’s a big difference. I really believe in keeping my money local, but the impression they gave me was they care more about soaking me than I care about driving 30 minutes up the coast to Kawaihae Harbor. You can buy a car on another island, ship a Subaru to Big Island from Oahu and still pay less. Plus the Subaru dealer on Big Island was rude without reason.
Young Brothers handles the shipping for Servco Subaru. The dealer on Big Island does not seem to be affiliated with Servco so maybe Servco is too big for them to compete with. But Servco has better prices. Better service, too. Not only that, it only cost $317 to ship a Subaru to Big Island from Oahu.
When I picked up my car yesterday, it already had plates and license issued. The dealer arranged for all of the shipping from Oahu, how easy is THAT?
Side view of Subaru Forrester with paddle board rack.
I chose as my salesperson Melan Evangelista from the Maui Servco Subaru. Melan was very responsive from the get go. When I told him I wanted to buy the vehicle in October but ship it to Big Island to arrive November 30th, he didn’t blink an eye. Not only that, but the car arrived at Young Brothers, pier 2 at Kawaihae Harbor the day after Thanksgiving, a week early!
It was easy to grab a cab from the airport (no Uber allowed there) to take me to Kawaihae Harbor. Once there, I paid my $317, hopped into a golf cart with a charming woman who has such an exciting job, and was delivered to my car. The gas station was just around the corner (they ship cars without much gas).
Driving back to Kona in my new Subaru from Kawaihae Harbor.
While driving back to our house in Hawaii, my team member and close friend Barbara Dow asked me to send her a photo. I should not take photos while driving, yah? But I did it anyway.
European-Style Remodel in Hamptons Village Open Sunday
6 Tides Edge Place, Sacramento, CA 95835 is listed by Elizabeth Weintraub and Lyon Real Estate.
The seller of this beautifully remodeled home in Hamptons Village hoped I would fall in love with his design and selection of materials. He was correct. Absolutely right. It blew me away when I walked in the door, so I know it will have the same affect on a home buyer. His choice of color and mix of subtle hues of gray with brilliant white is simply gorgeous.
It’s not just the open floor plan that will entice buyers. It’s the shades of gray in all the right places. It’s the gray wood floors on the main level. Maybe the waterproof vinyl plank floors in the updated baths. Or, maybe it’s the fabulous kitchen I wish I had now in my own house.
Spectacular European-Style kitchen will inspire you to cook!
For starters, the fronts of the cabinets are Italian. The drawers pull out and soft close. But wait, there is more. In addition to the under cabinet lighting, you will also find interior cabinet lights that illuminate automatically when you open the drawer. Of course, the drawers are soft closing. The upper cabinets feature glass.
All of the appliances are stainless and made by Bosch. The pre-rinse faucet is enormous. The double stainless steel sink is extra deep with double drawers below it. You might make the mistake of assuming the counters are granite but they are not. They are quartz.
Dining area and living room feature gray wood floors and contemporary fixtures.
This is a kitchen that will make you want to learn to cook like a gourmet chef, even if all you can do is now is barely boil water.
For functionality you can’t beat 3 bedrooms, a loft and 3 baths, plus indoor laundry. So much about this home is focused on saving energy and reducing carbon footprints. There is a NEST thermostat that controls the HVAC, carbon monoxide detectors, smoke detectors and the garage door opener, all from an app. You’ll find radiant barriers in the attic, too.
A loft at the top of the stairs acts as a hub for all of the bedrooms.
The thing I really like about this particular home is its location. It is centrally located in Natomas, just off East Commerce and north of Del Paso. Orientation is east, and it is a corner lot, with lots of windows, all beveled glass panes. Plus, it is on a small cul-de-sac so no through traffic on that street.
Are you ready to buy? Here is a tip, if you ask for the washer, dryer and refrigerator in the purchase contract, those personal appliances can stay. This is completely turn-key. Nothing for you to do to move in.
Corner lot back yard is larger than most, features raised garden beds to grow your own organic.
We extend this invitation to stop by our open house on Sunday, December 3rd, from 1:00 to 4:00 PM, hosted by the amazing Amy McMullan from the Elizabeth Weintraub Team. You can call Amy at 916.737.6664.
6 Tides Edge Place, Sacramento, CA 95835 is listed exclusively by Elizabeth Weintraub and Lyon Real Estate at $359K. See the virtual tour. For more information, call Elizabeth at 916.233.6759.
