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Elizabeth Weintraub
Wow Factor in 1910 Midtown High-Water Bungalow for Sale
Look no further than Sacramento for a Midtown high-water bungalow. The inner-city blocks between 24th and 26th and O, P and Q Streets contain many a high-water bungalow — homes typically built between 1900 and 1915. The reason the year 1915 is significant is because that’s the year the levee was built in Sacramento. Before then, a homeowner’s best defense against flooding was a high-water bungalow.
This is a 1910 Midtown high-water bungalow. First, you spot the terrazzo steps flanked by brick. Followed by an inviting front porch from which to watch passersby. However, when you enter the home, it’s delightful to find a floor-to-ceiling column and additional closets in the entry.
Look at the high curved ceiling with picture rails. The owner of a Craftsman bungalow in Woodland, which is presently pending, seemed surprised when I explained picture rails. She lived with them all of her life but didn’t know the purpose behind its decorative feature. They aren’t just a decoration. People used to hang and (probably still do) pictures and artwork by long wires that hooked on top of the picture rail.
One of the most beautiful spots in the home, the spacious dining room. Check out the built-in buffet, featuring glass doors and pull out drawers. This fabulous open dining space, situated between the kitchen and living room, offers gorgeous views of Midtown. You sit high above the street.
You can see that the kitchen has been updated. Refinished cabinets, white-tile counters. And best of all, the personal appliances such as the free-standing microwave and refrigerator will stay with the home. Plus, you will find a breakfast nook directly to the left of the dining bar in this photo. Again, that space offers fabulous views of Sacramento!
All together, there are 3 bedrooms and 2 baths in this Midtown high-water bungalow. Although that might be a bit misleading without the caveat that one of the baths is located in the lower level. I suspect at one time the lower level might have been rented out as an illegal rental unit. The reason I say illegal is because the ceiling height is probably not the required minimum. But you will find an entire apartment with bedrooms, living room and space for a kitchen in the lower level.
Our present seller uses that space for storage. I suppose during parties that extra bath comes in handy. Also in the lower level is a covered area that might do double duty as a carport or garage. It seems at one time perhaps that area was outside the home and later enclosed. You’ve still got a big enough back yard with an orange tree and patio, though.
Why not come to our open house on Saturday, March 31, from noon to 2:00, hosted by the invincible Josh Amolsch from the Elizabeth Weintraub Team.
1500 24th Street, Sacramento, CA 95816, offered exclusively by Elizabeth Weintraub and Lyon Real Estate at the affordable price of $495K. Call Elizabeth at 916.233.6759 for more information, and / or check out the virtual tour for more photos.
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.
The Story of Closing the Northstead Short Sale in Natomas
The beginning of the story of closing the Northstead short sale in Natomas goes back to last summer. I received a frantic call from the mother of the owner (a veteran) of this home. Recently discharged from the military for medical reasons, the veteran’s mother held power of attorney to sell his house. Both mother and son lived in South Dakota. When the seller bought this home originally, his wife executed an interspousal transfer deed, and she moved into the home with their children.
What foresight, though. Like he almost knew the relationship would not last. The interspousal transfer deed meant the wife could not claim any community interest in the property. Ever.
Somewhere along the line, the two separated. Then, in the fall of 2016, the wife abandoned the property and allegedly stole all of the appliances. She left behind a lot of furniture and trash littered the floors. Somebody had punched a hole in an interior door. Still, the condition of the home appeared to be pretty good. Not to mention, when the seller bought the home, he used his VA eligibility, which meant it had to pass VA inspections and clear pest.
Nobody had any keys. So I called a locksmith and paid to have new keys made. We put this on the market as a regular sale with a buyer credit just to test whether the market would bear it. The answer to that was negative. The home was located across from a school, a bad location. No FHA buyers wanted to deal with no appliances and a trashed house.
OK, this was a short sale, and that typically means a long time in inventory. Reason, fewer and fewer buyers possess the patience anymore to wait for short sale approval. Between buying a home that can close in 30 days and another that could take 3 months, buyers tend to lose patience and steam halfway through.
Sure enough, we entered into 3 escrows that canceled. Which meant I sold this home 4 times, eventually to the buyer who made it to the closing of the Northstead short sale. Yes, yes, yes, we will wait, their earnest little faces cried out. But they failed. The third buyers refused to increase their loan by $5,000 to meet the minimum net requirements of the bank. It would have meant an increased payment of maybe 30 bucks.
I don’t argue with these kinds of people, better to just get them out of our hair and go on with a new buyer who will close. This is what closing so many short sales like I do can do to an agent. Makes her much more pragmatic and practical. Some call it hard-nosed. Don’t take no shit. Because the short sale in itself is enough shit for one day. Including the soon-to-be ex-wife calling to proclaim this would never close.
Still, I press on and do short sales because there is such a need. I consider it my pro bono work. I don’t make that much from them and short sales require excessive time on my part.
We went into our 4th escrow the second week of January with an investor. Normally I do not like to sell short sales to investors because they rarely will accommodate the bank’s wishes. They believe, for some odd reason, that banks are desperate and will give them a break, when banks won’t. Also, if the next shiny thing catches their eye, they’re gone. But this investor held in there.
He was a bit confused, I heard, about why he had to pay delinquent utilities, but those liens were attached to the property since his offer. Perhaps he held higher hopes the bank would pay it, but banks rarely do that. At the last minute, the bank also slammed the buyer with payment of the entire escrow fee, too. However, we still managed a successful closing of the Northstead short sale on Monday.
I do not quit. If there is a way to close that short sale, you can bet your booties I will do it.
3146 Northstead Drive, Sacramento, CA 95833 closed escrow 3/26/18 at $255K.
The Sacramento Story of Closing Two Houses on a Lot
When escrows close like this recent closing two houses on a lot, I like to review the transaction for closure and for learning purposes. Even though I have been in the real estate business since the 1970s, I still learn something new almost every day. In the 15 years that I’ve worked in Sacramento, and yes, I just passed my 15th anniversary at Lyon Real Estate, I’ve most likely sold more than 1,000 properties. Never added up all my sales. Do not look in the rearview mirror much.
Imagine how much knowledge I have acquired from closing so many escrows? That’s how you learn to do real estate, by doing it. Hopefully, you retain some of that information. I’ve sold enough properties to know that closing two houses on a lot doesn’t happen without a great deal of effort and strategy. You need to put up with the investors who hope to get a good deal and also the guys who try to grind mid-transaction. All the while pushing for top dollar for the seller and protecting the seller’s interests.
In fact, some investor called me yesterday to inquire about this particular property. He found it on Realtor.com and claimed it did not show pending. What kind of information is that? Don’t know why investors do not hook up with an agent to get listings from MLS. Everybody needs real time updates. Accurate online home search data.
When I informed him of the recent closing of two houses on a lot, he said he is always looking for a “good deal” and would I call him when I list another? I’m the wrong person. I represent sellers. There are no “good deals” to be had among my listings because I protect equity, not give it away. I referred him to my team member who is an excellent and dedicated buyer’s agent, Josh Amolsch.
My listings tend to sell at market value, not below, and generally a bit above. On this particular property, we received multiple offers. A cash offer at list price and a second financed offer at $10K higher. Some other agent probably would advise her seller to take the cash offer and call it a day. Not me, though. I spotted opportunity to make the sellers another $10,000 from the cash buyer.
Experience matters. What can I say? We countered the financing buyer with improved terms and asked the cash buyer to pay $10K more. Along with the AS IS condition that the seller will not renegotiate, repair nor credit the buyer for any repairs. Such a rookie move by buyers to think they can renegotiate. However, they signed the counter and later tried to renegotiate. Not gonna work. You tell them, you tell them what you told them and you tell them again.
My sellers closed escrow yesterday without any repairs, discounts nor renegotiations, and they pocketed an extra $10 grand over list price. They seemed pretty over-the-top happy and probably in a bit of shock this moved along as quickly as it did. We went on the market March 2nd, into contract on March 5th and closed escrow on March 27th.
Sure, the seller could have hired a cheap agent, but I doubt he would have had a) such a smooth transaction b) a higher final price or c) no repairs or credits. One of these homes was at least 100 years old with much deferred maintenance. He made a lot more money by hiring a top listing specialist over a relative or discount agent. His choice. He chose wisely, if I say so myself.
What I learned from this transaction, a sale without comps to support the price, is simply reinforcement that I have a magical touch when it comes to selling real estate. I can price properties by figuring out how much we can get on the open market and be right on target.
4545 Garfield Av, Carmichael, CA 95608 listed at $495K and sold at $505K.
Making Sacramento Sellers Close Escrow Versus Finding a New Buyer
Rainbow after the rain in Kona, Hawaii, after not making Sacramento sellers close escrow.
Let us be very clear that I am not an agent who believes in making Sacramento sellers close escrow, especially when it is not in the seller’s best interest. I don’t know why this attitude should come as a surprise to so many buyer agents. But maybe, on second thought, they get their knickers in a twist because they can’t fathom it. Perhaps making Sacramento sellers close escrow seems normal to them. Too focused on that paycheck. These agents do not understand that by focusing on their client and not on the financial reward, they could buy a house in Hawaii, for example. Just sayin’.
No way, Jose, will I tell a seller to bend to a buyer’s demands. Usually, the only recourse a buyer has in his pocket is to threaten to cancel escrow. When you look at the idiocy of that strategy, well, you know who loses, right? Not the seller, I can tell you that. Escrow is not a precious commodity. No coddling required. Buyers either perform or they do not. Yeah, right, just cut off your nose to spite your face.
Yet, I still get agents complaining to me. They want me to cooperate, which means give their buyer what their buyer demands. I’d like to say excuse me? Whom do I represent? I do not represent your buyer, and I do not need to make my seller understand your point of view. No Realtor code of ethics exists that says I have to plead a buyer’s case to a seller.
Sellers can read inspection reports. They have eyeballs in their heads. If they agree to sell a home in its AS IS condition, we don’t care if buyers find dead bodies in the basement, no preferential buyer treatment. Lately, agents tend to repeat the same things over and over. Like they don’t have any creativity nor possess strong negotiation skills. They lament: who will buy this home if we do not?
Well, good question. Just about any other buyer. I look at short days on market, limited inventory, high buyer demand. Then I glance over at whiney buyer in the corner, trying her best to squeeze more out of the transaction in her favor. You know what looks more attractive? Better than making Sacramento sellers to close escrow? To find a new buyer, an appreciative and excited buyer.
We lose only a couple of weeks. Still a hot seller’s market. As a top listing specialist, I will recommend this approach every time.
Ring Door Bell: Good Solution for Hawaii House Security
Never thought I would be a consumer for the ring doorbell. In fact, I gave my team member Barbara Dow a hard time when she mentioned last winter she bought a video door bell. We were chatting on speaker phone from my cab as I drove up Highway 19 to Kawaihae Harbor to pick up my new Subaru. Could not for the life of me figure out why Barbara wanted a video doorbell. Are ya too lazy to get up off your sofa to answer the door? My cab driver was muting his laughter as we drove along. Both of us thought it was an idiotic thing to buy, a Ring doorbell.
Well, who is laughing now, I ask myself. Because I found a good reason to install a Ring doorbell.
The first Ring doorbell I saw, btw, was at a new listing in south Natomas that is going live in MLS on April 13th. I stood outside the home, pressing the ring button and nothing happened. Put my ear on the door, no sound. Finally, I pulled out my car keys and banged loudly on the door before the seller answered. Did the ringer work, I asked? Oh, the battery died.
See, right there is a flaw. If it’s too much work to remove the Ring doorbell to charge the battery, what does that tell you? The Ring doorbell I bought says the battery should last a year. Well, depending on how many videos it shoots. Judged by the number of motion alert videos I’ve received this afternoon, it looks like we will get 5 motion alerts a day.
I wonder if the geckos in Hawaii set it off? Hmmm, what is this? This wasn’t here before. Definitely something new. Hey, Norton, come check this out, and all their little geckos friends show up to poke around it.
This all came about because a few days ago, I was pacing about in my back yard chatting on the phone, with guess who, Barbara Dow. It was about 8 AM. All of a sudden, I looked up to find a man standing in my lanai. Oh, yes, after I shrieked because his sudden appearance freaked me out, I recognized him as the strange guy next door whom I wrote about last winter in this blog: My Hawaii neighbor does not much like troublemakers.
Now, I thought we had patched up things, but apparently not. My other neighbors say this guy is overly sensitive to sound of any kind and his wife swears at the neighbors on our other side. He began to spread his aloha by calling me the “worst neighbor in the entire world.” My mouth fell open. It got worse. He said my conversations are the most annoying thing he ever heard in life, adding there was nothing he could do about that rude behavior.
However, to say I was caught off-guard and shocked is to put it mildly. I asked if he had a solution for this so-called irritation. He suggested: “You could sit in your bedroom and talk.”
Hey, I’m not his daughter. That’s not a workable idea. I come to Hawaii to work on Sacramento real estate because I love to work from my lanai. If he doesn’t like it, that’s just too bad. But his continually walking into my yard unannounced and uninvited is trespassing. I sent him an email asking for a way to settle this amicably and in a neighborly fashion. He ignored it.
See, the thing is buddy, I’m not going away. Sure he has absolute silence for 6 to 8 weeks, and then this Sacramento Realtor shows up. He’s gonna have to deal with it.
All right, this is where the Ring doorbell comes in. But first I had to clear this idea with the HOA. Our front yard is accessed through a gate. I decided to padlock the gate. By installing the Ring doorbell, visitors can’t come to my front door anymore. I can talk to them via the video doorbell at the gate. Anybody who tries to jump over the gate will be videotaped and, if I’m home, will get a face full of mace.
At first blush, the HOA rep said she did not think it would be allowed because our front gates and fences are maintained by the HOA, making them common areas. However, she emailed the Board and sent them my email, in which I described the reason for wanting to install a Ring doorbell. To keep this crazy intruder next door out of our yard. And to videotape his intrusions.
Eureka! The Board member wrote back. He suggested I take a 3-foot section of a 2×4 and whack him next time. Turns out the Board member also hails from Minnesota, like me. No wonder I liked his sense of humor. He approved the installation. Yay!
I will add the installation was very easy. Every tool you need comes in the box. Although, to err on the side of caution, I did pick up from Lowes a drill / screwdriver combo, you don’t necessarily need it. Further, the one tool I always have at my side is my cellphone. Now I can work from my lanai without worrying that I won’t hear a visitor at my door or that people can get into our yard without permission.
An added benefit, of course, is when I’m back in Sacramento, I can still keep an eye on the house in Hawaii from my cellphone.
