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Elizabeth Weintraub
The Changing World of Sacramento Real Estate for Buyers
The changing world of Sacramento real estate for buyers tends to baffle many buyers. That’s because many buyers do not understand the real estate business. They think they do but they do not know how agents operate. On top of that, many agents work differently. Some might work on a salary under supervision. Others are like the Wild, Wild West, and might not even be a Realtor nor subscribe to the Code of Ethics. We enjoy basic real estate practices, but not every agent is trained, either. Further, some buyers think they can work with every buyer’s agent out there, and others don’t want to work with any buyer’s agent because they think the listing agent will represent them, nope, wrong. Many listing agents refuse dual agency.
My phone was fairly active yesterday fielding calls from buyers. Because of the changing world of Sacramento Real Estate for buyers, I make sure we are all on the same page. When a buyer calls and asks us to show them the home, I make it very clear that they cannot hire another agent. If they plan to hire an agent to write the offer, then they need to ask that agent to show them the home. If that agent can’t do it, they need to ask that agent to find them an associate to show the listing.
I sometimes get the guys who ask me if the seller will, say, take an offer with a 30% discount. I just stare at my phone. As though I can’t believe those words are coming from the other side of our connection. I repeat the list price. Over and over until they stop asking me to guess what the seller will take. Because I don’t know and, if I did, I wouldn’t say anyway. Just stop asking that question, please. Especially when the home has been listed less than one day, for crying out loud.
Long gone are the days in the changing world of Sacramento real estate for buyers that a listing agent shows the home. In fact, in most instances, the listing agent is not the open house agent. The open house host is typically a buyer’s agent, ready, willing and able to represent the buyer and write an offer. Buyer’s agents hold open houses to find buyers in the following manner: 1) to buy that property or 2) to buy another property. Our first choice is that the buyer purchase the home that is open, of course.
Buyer’s agents work with buyers. Listing agents work with sellers. Every so often you will find an agent who swings both ways and tries to wear two hats, but more and more agents are specializing. In 10 years or so from now, I doubt you’ll find many agents left in the business who represent both parties. The main reason to work with both buyers and sellers is because agents don’t have enough of either type to work with. They need to make more money, so they try working both sides of the street. But when an agent specializes, that agent tends to become highly efficient and successful.
I tell buyers straight up if one of our agents shows them the home, that particular agent will represent them. That means the showing agent will be the buyer’s own agent. If they don’t want that kind of relationship — and it is an option — then they need to find an agent. Because agents don’t show property without compensation. Agents show homes because they plan to represent the buyer. Since some of us work strictly with sellers, buyers need to find an agent. It can be an agent from the Elizabeth Weintraub Team or it can be an agent at another company. But find their own agent they must.
A Handy Dandy Counter Offer Tip from Elizabeth Weintraub
For years, I have employed a counter offer tip that works so well that I just now am getting around to sharing it. I often share tips I have picked up over my 40-some years in real estate because I hope to help others. Due to the nature of Sacramento real estate, we agents are often so busy, we don’t stop to ponder some of the wonderful ideas we come up with. We just do them. Or, maybe I’m just talking about myself. Whether you use this tip yourself or you ask your agent to employ it, I guarantee it will save you from major headaches. Thinking ahead is one of the things I try to do. Because stopping problems before they start is my method of operation.
All it takes is one time that an offer gets screwed up before you might come up with this idea yourself.
See, the deal with a counter offer is it tends to change many of the terms of the purchase offer. Now, let’s say escrow or worse, the mortgage loan officer, forgets to read the counter offer (it happens!) and issues docs based on the original offer. If that happens, everybody has a problem, Houston. Further, the Sacramento appraiser could appraise the home at a lower price. Because appraisers tend to appraise at the sales price. To do otherwise is to turn in a non-conforming appraisal, and nobody wants that.
Naturally, one way to help counter that problem, pardon the pun on my counter offer tip, is to upload all documents to DocuSign in order: counter offer first, followed by purchase contract, addendum and accompanying docs. Then, after the offer is signed, download all of the documents into one PDF file. That way the counter offer can’t get lost and will always be the first document. Of course, to do this, you need to get the counter offer agreed upon first. Before signing the offer.
However, that is not my main counter offer tip. My main tip is to go one step further. In the purchase offer itself, I enter a text box for myself to complete when I sign the offer. The text boxes are positioned next to every term in the purchase contract that has changed in the counter offer. This means if the sales price was changed, for example, there are two spots to change on the first page of the purchase contract that contain the sales price. In both spots, I position a text box. When I sign, I enter verbiage in the text box that reads: see counter offer.
It helps escrow with the allocation of costs, too, especially if who pays what has changed in the counter offer. I insert those boxes throughout so there can be no excuse — no real excuse, anyway, for screwing it up.
I hope you have enjoyed my handy dandy counter offer tip and will find a way to save yourself future heartache.
Two Fixer Houses on a Lot in Citrus Heights
What is not to love about marketing two fixer houses on a lot in Citrus Heights? There is a certain amount of freedom that is inherent for a Sacramento listing agent to sell two fixer houses on a lot. For one thing, I’m fairly confident nobody will complain about a photograph of a burned-out kitchen. Yes, I can throw that photo of the view through the second floor of the kitchen sink with abandon into MLS. Leave no stone unturned. Every bad thing about these houses is marketing GOLD. No mincing of words. Embellishing never crosses my mind. The worse I make it appear, the more investors, flippers and contractors drool over it.
Not that we need a ton of offers to buy these two fixer houses on a lot in Citrus Heights. Nope, we need just one fabulous offer from a committed buyer who will close escrow. Often we get investors who rush in, throw an over-list-price offer on the table and try to tie-up the sale before anybody else can buy it when they don’t even know if they want to. Then they cancel two days later. There are also the guys who slap down an earnest money deposit and then try to renegotiate after a home inspection over the very same defects they saw with their own two eyes in the first place.
I try to help my sellers to select the best offer, but it can be difficult. Although, over the years, I have sold so many fixer homes, I can say I am an expert now. Not to mention, I’ve also got a lot of hands-on experience fixing up houses. It’s hard to pull the wool over my eyes. Of course, I also rely on my private list of losers I’ve accumulated over the years who have flaked on previous sellers, and I share that information with my sellers, should an offer originate from one of those.
Having said all of that, let’s talk about this opportunity. For starters, the comps in the area show fixed-up homes are selling between $500 and $550K. These two houses are for sale at $295K. One of the houses has had a fire in the kitchen, and part of the ceiling is gone. The other house is not permitted. Not permitted means there is no permit on record. The front house is 3 bedrooms and 2 baths, with a fireplace in the living room. The Sacramento County Assessor shows 2,112 square feet and it was built in 1936. The back house is a 1 bedroom, 1 bath. There is also RV parking and a two-car garage, all situated on approximately 1.42 acres (*not verified).
7945 Mariposa Ave, Citrus Heights, CA 95610, is offered exclusively by Elizabeth Weintraub and Lyon Real Estate at $295K. For more information, see the virtual tour or call Elizabeth at 916.233.6759.
The information in this advertisement, including, but not limited to, square footage and/or acreage, has been provided by various sources which may include the Seller, the Multiple Listing Service or other sources. Lyon Real Estate has not and will not investigate or verify the accuracy of this information. Prospective buyers are advised to conduct their own investigation of the Property and this advertised information utilizing appropriate professionals before purchasing this Property.
Happy Thanksgiving From the Elizabeth Weintraub Team
Happy Thanksgiving. The office will be closed on Thanksgiving, November 22, 2019. Everyone on the Elizabeth Weintraub Team wishes you and your loved ones a very special Happy Thanksgiving. Even with all of the bad stuff going on in the world and in politics, which we can’t seem to escape from, we have so much to be grateful and thankful for. My wish is we never lose sight of that.
The other thing I really enjoy about this time of year is how much nicer we are to each other. I accost complete strangers in the street to say Happy Thanksgiving and they do the same. So, Happy Thanksgiving to all of our friends, clients, family, coworkers, fur babies, and especially the new friends we haven’t yet met.
And like I say every year, somebody please grab that platter from that great grandma before she drops the bird smack dab in the face of little Miss Braids. Sheesh. Older women should not be holding such a heavy object.
Is it Possible to Own Too Many Pairs of Shoes?
How many pairs of shoes are too many pairs of shoes? For me, it’s when I have no more room on my closet floor or handy side ladders to house shoes. It’s also the one accessory item, except for maybe jewelry or a designer bag, that you can buy despite weight fluctuations. So if the shoes are cute, they tend to end up in my closet. Either through buying them online because I make the mistake of thinking I know the brand so they will work and they don’t, or in person. Even in person is no guarantee that I will ever wear the shoes again.
I get sucked up into the lust for the shoe.
My husband doesn’t understand how anybody could own that many pairs of shoes. He owns a brown pair and a black pair. But I just get started with basic brown or black. You’ve got to own a pair of flats in each color, followed by medium heels, high heels, open toe, pump, boots, casual sandals, dress sandals, and that’s 8 pair right there, and times two colors is 16 pairs of shoes. If you mix it up with patent leather, versus leather, or suede or fabric, well, you can see where this takes you down a rabbit hole.
There is always that special dress that totally deserves its own pair of shoes. The type of shoes you wouldn’t wear with anything else because nothing else is like that special dress.
And then one day you’re walking across the parking lot at, say, the Sacramento Board of Realtors, strutting in your Sarah Jessica Parker 4-inch heels, when something odd happens. You realize you can’t really walk. Yes, you seem to be hitting toe first but the heel is not following like it should. Slowing down doesn’t help. Nor does averting eyes from the cellphone. Instead, you find yourself prancing around like a 3 year-old wearing her mother’s heels. What happened?
For me, thankfully my team member Barbara can wear the same size. Because a pair of Jimmy Choos that I purchased a few months back didn’t let me make it from the house to the garage. I could not walk in those heels. I don’t know how Barbara can do it, but more power to her. Maybe I’m just coming to my senses when I embrace a desire to reduce possessions, which led me to conclude that I own too many pairs of shoes.
Time for serious shit. Last weekend, I combed through my closet and removed the pairs of shoes we will donate this year to a nonprofit. These appear to number 39 pair. Some of these shoes I’ve worn only once. At least they will go to a good cause, and some other lucky female can benefit from a Sacramento Realtor‘s wild spending sprees on shoes.
