Elizabeth Weintraub
Dinner at Red Rabbit by Former Alinea Chef Ostrander
We celebrated a Winter in Lake Tahoe: a Culinary and Libation Excursion at the Red Rabbit Restaurant in Midtown last night. This restaurant is located across the street from my office at Lyon Real Estate, so we decided to park in the garage below my office. As a top producer, I have a free parking card that gets me into the garage after hours. I don’t use it very often, which is why I forgot that once the card lets you in, it will only let you back out. You can’t use it to get in again. And I left my keys to the office at home.
But that’s neither nor there as my husband figured out what to do and came to the rescue. We had contemplated taking a cab because there were 5 or 6 cocktails to sample during dinner. Former Alinea chef Scott Ostrander put together the menu and made us dinner at this special event. When we arrived, they were running a little bit behind so we had to wait be seated.
When the hostess asked us to follow her, I wondered where we were going because the restaurant is long and narrow. It’s in the old Red Lotus space. She led us outdoors to a screened in area heated by overhead lamps and a roaring fireplace. There were two long tables covered with white linens. The centerpieces were clear flower vases filled with blue lights at the bottom, and stuffed with white chrysanthemums, featuring tree branches sprayed white with little pieces of glitter stuck to the branches, nestled in with a few silver spiral cat toys. Part of the room’s perimeter was dotted by unadorned evergreen trees.
Our first course was a hot toddy, served on a round platter cut out from a tree. The platters served as chargers, surfaces sanded smooth and about an inch and half high, with the perimeter in its natural raw tree bark state. These were like the plates we had been served with at Alinea Restaurant last month. Except in Chicago it’s permissible to serve food on wood but it’s against the law in California — a food fact I did not know. We sucked on a cinnamon stick coated with honey on one end and tossed back the hot toddy.
The photo above is the salad of the earth, featuring beets, carrots, celeriac, wild flower petals, arugula nestled on a bed of what seemed to be pumpernickel bread crumbs sprinkled with mushroom powder. But I wouldn’t swear to it. This was followed by a rainbow trout that is quite possibly the best rainbow trout I’ve ever had (to the right). It’s from Lake Tahoe, of course. Ostrander served the trout on a piece of pine, covered with banana leaves (because you can’t serve food on wood), surrounded by heated pebble stones, on top of which we poured “lake water.” You’ll probably spot a photo of this in Sacramento Magazine because there was a photographer from that publication wandering around.
From the soil, our next course was mushroom soup, made from wild mushrooms, with a little cream, I suspect, floating on top. We were instructed to eat it by spooning the soup into our faces using two leeks sticking out of the bowl. My leeks were rather weak and didn’t work correctly or maybe I just wasn’t shoveling fast enough. Instead, I took a bite of leek and spooned into my mouth the delectable soup and was in heaven. Gobble, gobble leeks. Yum.
Our main course, venison, was served on a stark white plate with a big ol’ lump of mashed potatoes next to it. It looked like an entire loin and probably was since it had two ends. It was far more food than a reasonable person should probably consume but I ate almost all of it anyway, and my husband finished his. I don’t really like venison, I thought, but this was mouth-watering delicious and not at all gamey. I would order venison again now.
The final course was a snowman with a small carrot for a nose and a chocolate log. It came paired with a Cider Flip, which is apple cider and rum and I’m not sure what else, maybe an egg white but definitely cinnamon, and it was served warm. This is when I noticed the emperor had no clothes. Everybody at the table had the same expression on their face. That of agony. But nobody was saying anything. My husband, always a pillar of truth, turned to me and whispered, “This is terrible.” I agreed. The chocolate log was not really chocolatey even though it looked like a fudgey Tootsie Roll, it tasted more like bitter tofu, with the consistency of rubber. The guy across from said, “Hey, this snowman tastes just like a snowman.” And he meant it. He was right.
But as my husband pointed out, perhaps dessert was meant to be the Cider Flip, and the snowman / chocolate log was just decoration. The dinner was fabulous enough that dessert didn’t matter.
Scott Ostrander is going to Yountville.
Life of Pi a Brief Review by Elizabeth Weintraub
There is no real way to describe the movie: Life of Pi. It’s a movie that should be experienced, and you can see it at the downtown mall in Sacramento. It’s not like The Tree of Life that forced the Tower Theatre to put up notices in the lobby warning moviegoers about it because so many people complained that it wasn’t a movie. This movie is not only visual. It’s moving and magical and monumental and magnificent. Director Ang Lee’s majesty is all over it.
You might wonder, like I did, how a movie about a boy lost at sea in a boat with a tiger could be very interesting but it was mesmerizing. First, the movie is in 3D, so if you have an opportunity to see this movie in your area and it’s not offered in 3D, I would not go see it. You know how some movie theaters are and not all of them show a 3D movie in 3D. The 3D effects are spectacular, and except for the couple of instances of a hummingbird fluttering over the seat in front of me, I quickly forgot that I was even wearing glasses. I was sucked into the movie and became part of it. It was Zen.
Pi is a boy in India. He is inquisitive and somewhat precocious. He is a Hindu / Christian / Muslim, but the movie is not about religion even though faith in God plays a part. There is a long beginning about his family, his family history, yeah, they own a zoo in India, and tigers are mean because they are a wild animal. Then, they get on an oceanliner with a racist cook and all of the animals and they head for Canada. A wild storm at sea makes the boat sink, and Pi winds up a in a lifeboat with an orangutan, hyena, zebra and a Bengal tiger.
It’s the storm that starts the gripping of the movie. Up until that point, I was perfectly calm in my seat, munching on popcorn and sipping a Diet Coke. But the minute those waves kicked up and began to churn, my heart began to pound. It’s like the movie reached out into the audience and stuck its sticky little movie fingers around my throat and did not let go for the rest of the movie. It pulled me to the edge of my seat. I gripped my husband’s hand. There were parts during which I wanted to shield my eyes. I thought my eyes could not possibly withstand the view, but my head was in a vise grip and I could not avert my eyes from the screen.
I walked into the theater wondering how a director could get a tiger into a boat to make a movie. Ha, I live with 3 cats. I walked out buying the whole thing. Except for maybe the part with the meerkats, I had my doubts about those. You should go see it. And yes, sirree, bananas can float.
Weintraub’s 2013 Real Estate Predictions
This Sacramento real estate agent and About.com homebuying expert finished her 2013 real estate predictions and forecast yesterday. It seemed like December 1 is a good target date to try to hit every year. It provides a healthy amount of time for people to argue with me before I head off to — this year it will be French Polynesia — my holiday vacation. And every year I get the same question: Elizabeth, how do you know this stuff?
I know this stuff because I look at the way things are going and I predict they will continue to move in that direction. Most of the time I am 100% on target with my forecast. Sometimes, things take a right or left turn or spin around and blow up, but not very often.
For example, one of my predictions is home prices will rise in 2013. They’re going up now in most major metropolitan cities. It doesn’t mean we have a recovery. It means inventory has shrunk and demand has grown. We’ve run out of homes to sell and buyers are clogging up the streets. I throw a home on the market and it’s like tossing bread crumbs to starving pigeons. They swoop down in droves and peck each other, jockeying for position to get a nibble.
Last year in my real estate predictions I talked about short sale fever. Oh, darn, there goes that song again in my head, White Line Fever. Nevertheless, I was spot on about that. Short sales took over and surpassed the position occupied by the foreclosure market. Many of the REO agents turned to try to do short sales. I don’t really agree that an REO agent is a good candidate to do a short sale because the qualities that make an REO agent successful are pretty much the opposite of the qualities inherent in an excellent short sale agent. 2013 will pretty much continue to be the year of the short sale.
The year 2013 will be an interesting ride. It marks my 39th year in the business. If you’re looking to buy or sell in Sacramento, Yolo, Placer or El Dorado County, rattle my cage. The Elizabeth Weintraub Team is well positioned to handle all of your real estate needs.
The Lengths Some Sacramento Investors Will Go
When I started in real estate in the 1970s, I represented mostly investors looking to buy a rental home. I also cultivated investors by showing regular homeowners how they could tap the equity in their homes to buy investment properties. It was a completely different world of real estate back then. You may find this difficult to believe, but I never asked my investors for their opinion or how they would like to write a purchase offer. I bought all of their properties in my name as assignee using promissory notes. The world of Sacramento investors has changed a bit.
The premise back then was as a real estate broker I could better negotiate and ferret out the good deals for them. After I bought the property, I assigned it to my investors, they put cash into escrow and we closed a week later. I received a commission and they got the property. It was a strange way to do business but it worked for many years.
One of the advantages to this system was I could act very quickly when a new home came on the market. Back then, we didn’t have computers. MLS books were printed once a month with weekly updates. Real estate agents found homes for sale through networking and the daily newspaper. It’s hard for me to even imagine doing business like that now. It seems so dark ages, like etchings on a cave wall, to think about having to stop at my office or a telephone booth if I needed to make a phone call.
Today in Sacramento the market is desperate. Sacramento investors are nearly hysterical. And first-time homebuyers are in tears. The problem is no inventory, and it’s getting worse as we head into the time of year that is generally the slowest — December. Five years ago there were almost 10,000 homes for sale in Sacramento County. I just ran a search in MLS, and we have 1,373 residential homes for sale in Sacramento County. We have 5,162 homes in escrow with accepted purchase offers. But most frightening is over the past 30 days during the month of November we have closed 1,370 homes. That’s only the number of homes that have been reported and many companies lag MLS input by a few days, so that number will increase by the time all is said and done.
We have less than 30 days of inventory. There is nothing to buy and the demand is extremely high. To say it’s a seller’s market is like saying we have a little rain here in Sacramento right now. We have a torrential storm.
Investors have figured out what they need to do is target the top producers. They are calling the biggest listing real estate agents in Sacramento and begging for first chance at writing an offer. I rank up near the top so they are calling this Sacramento real estate agent. One of them, and I won’t tell you who it is, called yesterday. They offered to kick back 66% of the commission to me if I would give them an edge in negotiations and make suggestions as to how they could beat out their competition.
I don’t think they were prepared for my response. That’s because this approach must work with other real estate agents or they wouldn’t be doing it. I said: “You know, it sort of sounds like you guys are asking me to compromise my fiduciary and give you a leg up in exchange for additional compensation. To grant favors. To ensure you win the purchase offer. I know you probably don’t mean it that way, but that’s exactly how it sounds.”
Their response:“I take it you’re not interested.”
Bingo.
If you’re looking for a Sacramento real estate agent to sell your home, give Elizabeth Weintraub a jingle at 916.233.6759. I answer my phone.
School Teachers Can Do a Short Sale
One thing that this Sacramento short sale agent is blessed with is super nice clients. All of my clients are really nice. But some of them are exceptionally nice, over-the-top nice, the kind that if you turned to talk to them while waiting in line at the grocery store you might feel embarrassed because you’d end up hugging a total stranger out of the blue — THAT kind of nice. And I am not a huggy-feely type of person. I am more of a firm handshake type of person.
This particular seller and her husband are high school teachers. They are super sweet, sensitive and caring. They started their life together as a young family in this home in Rancho Cordova. As the years passed, they, like many new families in Sacramento, outgrew the tiny 2-bedroom, 1-bath home.
They bought a larger home in a nearby community and rented out their former residence. Unfortunately, the rent did not cover the mortgage payment and unexpected rental expenses. But they could still get by because they both worked over the summer months at a summer school. When the economy crashed, they lost their summer employment. Expenses mounted. Like so many homeowners in Sacramento, they did not count on the value of the property falling as well. They had hoped if they ran into difficulty that they could sell the home. But selling this home was not an option because they were underwater.
We began this Rancho Cordova short sale in May. The market was very hot in Sacramento in May. Not as sizzling hot as it is now, but it was a strong beginning of our seller’s market. We received a ton of offers and had to sort through them all. One offer stood out from the rest. The offer was from a real estate agent who was trying to buy a home for her son and his fiancé who were beginning their own family. The lender in this situation was Sun Trust (notoriously slow), and there was a second lender that was demanding more than the first loan would allow. The buyer agreed to hang in for the duration and not cancel. Bingo, that’s our buyer.
It took us 7 months to negotiate and close this Rancho Cordova short sale. We were rejected once because the lender could not understand that teachers live on 10 months’ of income in a 12-month calendar year. An important thing I have learned over the years as a Sacramento short sale agent is not to give up. Not to throw in the towel. Especially NOT when sellers are counting on you and the buyers are counting on you. If there is a shred of hope, you find a way to get the message through, and you close.