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Elizabeth Weintraub
New Listing in Upper Land Park: Adorable 2-3 Bedroom Cottage
A new listing in Upper Land Park presents an exciting opportunity to buy into a neighborhood which has no commercial properties, unlike other parts of Land Park. This particular home is tucked away off of Santa Buena, near the freeway, in an area with little through traffic. Our back story takes us to the original construction of this home in 1949. The builder who constructed this home used the old method of combining clay mud with straw to form adobe bricks and drying the bricks in the sun.
We can easily endure weeks of 100-plus temperatures during our hot Sacramento summers. And we certainly enjoy an abundance of clay soil in Upper Land Park. Perfect combination, and what insulation properties adobe offers. You cannot hear a sound when inside that home.
The daughter of the builder bought the home after completion and moved in. She constructed the Buddha waterfall and gazebo in the back and planted much of the greenery and roses that still flourish today. Gardens? Amazingly beautiful. You will also find several covered patios for entertaining, in addition to an art studio. As the story goes, the daughter eventually ended up moving out of town, so she sold the house.
After moving away, she missed Sacramento and, in particular, this home. So she moved back and bought it from the owner. If you are in love with a home to such an extent that you don’t want to live anywhere else in town, that showcases the allure. Eventually, though, our present day seller bought the home.
Our seller installed a guest quarter with a permit by remodeling the garage. It features a soundproof bedroom, which could also be used as a band studio or yoga studio. Our seller also installed a second bath. What started out as a 2 bedroom, 1 bath is now a 2 to 3 bedroom and 2 bath home. The guest quarters are located on the other side of the kitchen for privacy.
An interesting thing the seller told me is when she first saw this new listing in Upper Land Park and entered, she felt captivated by the back yard and made a beeline for it. Walked right past the two bedrooms with the beautiful hardwood floors. Right past the updated bath with a shower over the tub, and a window. No nod toward the kitchen. Directly to the back yard. Maybe you will do the same thing? The yard is definitely captivating.
Why not come to our open house on Sunday and discover the magic of this new listing in Upper Land Park for yourself? March 11th, from 2:00 to 4:00 PM, hosted by the incredible Barbara Dow from the Elizabeth Weintraub Team.
709 7th Avenue, Sacramento, CA 95818 is offered exclusively by Elizabeth Weintraub and Lyon Real Estate at $375K. Check out the virtual tour, too! If you have questions, please call Elizabeth Weintraub at 916.233.6759.
New Listing in Land Park: Charming Vintage Bungalow Remodeled
Look no further for a new listing in Land Park! This is a perfect home for first-time home buyers. Especially if you’re looking for the charm and vintage detailing found in Land Park homes built in the 1930s. This home marries beautiful updates with original architectural features. Just feast your eyes on that storybook photograph above showcasing enormous curb appeal!
A beautiful flagstone sidewalk welcomes visitors to the door. There is a covered front porch where you can sit to enjoy all of your neighbors parading by: walking dogs, pushing babies in strollers, darn kids walking on your lawn (just kidding about the kids). McClatchy High School and California Middle School are nearby but this home sits on the north side of the street so it does not back up to the school.
Once inside, the open floor plan will amaze. Hardwood floors, arches, crown molding, plenty of windows, formal living room and dining area with wainscoting and a fireplace, a breakfast nook, and recessed lights greet you. But nothing prepares you for the gorgeous kitchen.
Your fabulous new listing in Land Park features a to-die-for kitchen. Granite counters, a wine refrigerator, dining bar, super cool exposed bulbs in the hanging pendant lights, a GE Monogram 6 burner gas stove, convection, built-in refrigerator are only a few of the amenities found in the kitchen. Plenty of storage space; every inch is utilized.
This home boasts 3 bedrooms, one of which is used as an office, a newly remodeled bath with a walk-in shower, newer copper, newer sewer line and a 200-AMP electrical panel. In addition, the room you see above is like an extended family room under an attached covered patio. You also get a built-in outdoor kitchen with grill. What a great space for entertaining and hanging out!
This shows only part of the back yard. For starters, check out the two-car garage. All of that concrete allows for so many possibilities. You could work on cars, park an RV or a boat. Why, if it were legal, you could probably land a helicopter at this new listing in Land Park.
Why not come to our open house on Sunday from 1:00 to 4:00 PM, March 11th? Hosted by the amazing Amy McMullen from the Elizabeth Weintraub Team. Call Elizabeth with questions at 916.233.6759.
1731 Bidwell Way, Sacramento, CA 95818 is offered exclusively by Elizabeth Weintraub and Lyon Real Estate at $549K. Check out the virtual tour, too.
A Bad Renegotiation Strategy in Sacramento Real Estate
If you’re thinking about using a bad renegotiation strategy in Sacramento real estate, listing agents everywhere urge you to reconsider that tactic. That kind of game plan is hard enough to pull off in a normal real estate market, or even a buyer’s market. But our present market is a seller’s market in Sacramento. Apart from a bad renegotiation strategy being annoying as hell, it just doesn’t work. It backfires.
What am I talking about? The guys (mostly investors but not always) whose bad renegotiation strategy is to lock down a property and then try to lowball at the 11th hour. You wonder about this especially when the offer starts out low and then suddenly leapfrogs into the realm of possibility. That’s the first red flag. It makes me wonder what the buyer is possibly thinking by offering less than list price starting out. Dude, we generally get multiple offers, and if we don’t, we will if we wait.
You know, like, say, the listing is $700,000 for example, and the buyer submits an idiotic offer at $625,000. When you ask the buyer, what? Are you crazy? The sales price is $700,000, if you want it, pay $700,000. And the buyer immediately says OK, that’s a red flag.
Then, after a few weeks pass, after the inspections, which are all fairly minimal regarding findings, the buyer tosses a wrench into escrow. Usually it’s some stupid thing like the buyer wants to remodel. So the buyer submits an estimate for his remodeling costs and expects the seller to participate by funding those projects. That’s an insane proposition. It’s a bad renegotiation strategy.
Wahhhh, the buyer whines, why won’t you pay for my new pool?
I especially enjoy the buyers who tell their agents: What can it hurt to ask? Makes me want to wring their necks for not thinking. Just stop focusing on yourself and consider ramifications. It DOES hurt to ask. Big-time. It infuriates the seller. It makes the seller angry and unwilling to help the buyer do anything. When the seller says no, absolutely not, and don’t let the door hit you in the ass on the way out, the buyer moves on to his next victim.
Throw enough crap at the wall enough times, maybe something will stick, is the buyer’s rationale. What kind of reputable buyer’s agent wants to go through that agony? If a buyer’s intention all along is to try to finagle a lower price, that means the offer submitted was not a real offer. It probably breaches all of the good faith covenants in the contract. It’s a lousy way to try to buy real estate in Sacramento.
Elizabeth Weintraub Still Lyon Real Estate Top Producer Recipient
Top 1% at Lyon Real Estate, Elizabeth Weintraub is in front row wearing pink.
Holy cow, I can’t believe how busy I’ve been that I have spaced out making a formal announcement in my blog about two recognitions I received last week as a Lyon Real Estate top producer. The first recognition was for 15 years at Lyon Real Estate. This place is the longest I have worked anywhere in my life. No joke. I got my start in real estate as a title policy typist in 1974, so that gives me 44 years in this business. At the time, it was just a job to get me out of the mountains in Denver and back into civilization.
From there, I marched into my boss’s office. Stated I would go stark raving mad if I continued to type title commitments. On a typewriter. With carbon paper. He told me if I expected a promotion to go across the street to a different title company. That attitude, of course, led to long lunches while I interviewed at other companies. My boss broke down and promoted me to title searcher. I aced that position and abruptly moved to southern California, where I entered the world of escrow. Eventually as a certified escrow officer specializing in creative financing, which led me to get my real estate license.
It was a roller coaster ride through many different ventures in real estate. For a while in the 1990s, I ran a company called Equity Enhancement in Minneapolis. Prior to the inception of home staging. While in the process of buying and flipping homes, I also helped other agents by advising sellers on prep work. I also did the work suggested myself. Yup, I painted, hung drywall, installed new light fixtures, fixed broken dishwashers, you name it. I could do it. I also worked a couple of other jobs in marketing so I could qualify to take out loans to do my real estate.
But it wasn’t until I landed in Sacramento that I really focused back on client-centered real estate. I started working with buyers from the seminar business as first-time investors in the late 1970s. And now I work with sellers. A complete 180. My office recognized me last week as a Lyon Real Estate Top Producer because it named me the #1 agent in the downtown Lyon Real Estate office for 2017. This is an honor I have held for so many years now I’ve lost count. Some other deserving agent is sure to take over that position down the road.
Interesting enough, when I moved to Sacramento in 2002, I wasn’t focused on real estate. We were buying our home in Land Park, where we still live today. I sat in the lobby of the downtown office telling my husband that that this is the place where I would work. Even though I had no concrete plan about staying in real estate, really. And sure enough, not only do I still work at this office after 15 years, I am now a Lyon Real Estate Top Producer. This is in addition to winning the #2 Award at Lyon Real Estate for the entire company a few weeks ago.
I wonder if this qualifies as being an adult?
How to Hedge if Interest Rates Increase When Building a Home
If interest rates increase when building a home, buyers need to prepare.
Are you concerned about handling a situation in which interest rates increase when building a home? If not, you should be. Depending on where you are building a home in Sacramento, it could take 4 to 6 months (or longer) to finish building your home. What happens if interest rates increase when building a home? You could get socked with a much higher interest rate. The rate could be so high that it could disqualify you from buying a home. Or, put a severe crunch on your financial cash flow.
Last September, interest rates remained around 3.75%. Today, interest rates hover at about 4.30%+. Fact, every 1% an interest rate rises loses a buyer about $25,000 of purchasing power. Some buyers do not understand the direct correlation between sales price purchasing power vs interest rates. However, you should keep interest rate fluctuation in mind when buying new construction. Also, think about how you’ve locked in the price of the home when you signed the purchase contract. Sales prices may go up but your pre-negotiated home price remains stable.
In fact, many first-time home buyers put so emphasis on interest rates that they often forget about the sales price remaining the same on that new home. This is not to say that as interest rates increase when building a home you should not be concerned. Because options exist. If a rate increase to 5% is not comfortable for you, you might want to consider taking our insurance against a rate hike. Yes, you can pay a little bit more to your lender and lock your interest rate for 6 months or more.
The question should be is it worth it? Historically, over the past 10 years or so, I’d say no, it wasn’t worth it. If you paid for an extended loan lock, you were probably wasting money. But if you’re the type of home buyer who doesn’t want to handle this kind of surprise, maybe you should consider an extended loan lock. I cannot sugar coat this; welcome to higher interest rates in 2018.
Interest rates have been superficially supressed for so many years that John Q Public does not remember what can happen. They think of 3.5% or 4% as the norm, but that is shortsighted. Average interest rates used to be 8%. In the early 1980s, rates hovered as high as 18%. Over the last few years, fewer investors elected to purchase a CD or money market due to low returns. Everybody knows rates must go up. But how fast and when? Many experts say now, this spring. Some experts predict interest rates will rise four times in 2018.
Talk to your lender about what can happen should interest rates increase when building a home. Try to prepare for that eventual situation in advance. Don’t get blindsided days before closing when suddenly your mortgage payment jumps and you can’t afford it. You might also consider buying a home a little bit under your means so you’re not stretched to the max when interest rates rise.
