Email ElizabethThis Agent is Accepting New Home Listings in Sacramento
It’s been a stressful couple of months in Sacramento real estate lately as this listing agent has been focused on winning challenge after challenge. It can take a slight toll. In the middle of all of this action, it’s important to pause and assess the housing market to best advise my clients. This is when I often head for a massage. It’s nice to feel a human touch on my skin. To unwind and relax. I visited Images Salon on Riverside next to Vic’s Ice Cream in Land Park yesterday and was delighted. Ten times better than the place not to have a massage in Land Park.
I’ve got 12 escrows pending to close before my birthday this month, and once I realized how many were already sold, it’s made me more excited to work even harder to sell the remaining few I have and to gather more listings. I have a small number of homes in various stages of prep and, after a manicure, pedicure and haircut, these will be available for sale, but I am also accepting new home listings in Sacramento to sell over the summer. Moreover, believe it or not, I am working on the Sacramento fall real estate market.
It’s always a cycle in real estate, and it’s a balancing act to make sure my home listing inventory is not more than I can personally handle. For example, a few years ago, I had 70 listings and that was about the maximum this agent can comfortably handle, but today that number of home listings is small enough to count on two hands. That’s because inventory has been dramatically reduced in Sacramento. Plus, it’s rare to tackle a short sale anymore; those days are gone. Compared to a few years ago, I feel almost like I am on vacation, if it were not for the constant challenges of pending escrows. Any agent can flip a home into escrow but getting it closed is where the true professionals shine. To better explain cycles, let’s look at the housing market numbers in Sacramento:
Studying the Trendgraphix chart above and searching MLS, one can really notice the cyclic trends. For example, at the moment, the number of residential home listings for sale in Sacramento per the MLS are 3,253. The number of pending sales, which include a handful of pending short sales, are 2,908. That means we’re still running out of homes to sell. It’s a drought, although not as severe as our water drought.
The first thing I notice in the May Trendgraphix report above is the column for May looks very similar to the column for October of 2013. But what is different about it is two-fold. First, the pending sales in October were quickly moving down as fewer homes were selling. However, the pending sales in May are continuing to move up, a trend that began in January and shows no signs of slowing! Closed sales fell off slightly in May, probably due to the flakes and unqualified buyers, but I predict that June closed sales will correct. Second, our pending sales exceed those closed. It’s been that way all year.
You don’t see the smaller details, but as a busy Sacramento real estate agent, I can tell you that our inventory over the past year and half has doubled. We moved from 1 month of homes for sale to a little over 2 months, but that it still not enough home listings to sell. Our days on market has increased to 31, meaning buyers are taking longer to make the right choice. Home buyers are also hitting prices harder as homes are selling on average at 98% of list price. A buyer might say that sellers are 2% overly optimistic, but as a listing agent I know it’s the other way around.
If you’re looking to hire the best Sacramento real estate agent you can find, your best bet is to call Elizabeth Weintraub at 916.233.6759. I’m presently accepting new listings. Will your home be sold by Elizabeth Weintraub next month? There’s one way to find out.
Chart: Trendgraphix
Selling the White Elephant on the Block
Part of my 40 years in real estate involve a stint during which I bought homes to fix up and sell — and, I’m proud to say, not one of those homes was a white elephant. Doing the buy, fix and sell was easy for me for several reasons. First, I was single, so I didn’t have to argue with anybody about my material choices or order of construction, not to mention, I didn’t have anybody under foot. Second, I had a lot of experience selling homes to draw upon. I didn’t do stupid things, and much was based on experience plus my excellent intuition. Third, I was willing to take the time to learn how to do the work myself, and time was not of the essence because I lived in the house — so no matter how many times I messed up, I could repeat the task until it was perfect.
There are some homeowners who don’t care if their home improvement project or remodel is absolutely perfect, but I am not one of those people. I set high standards — sometimes impossible by another’s definition — and I achieve those goals. I visualize. I will capture an image in my head and intently focus until it comes to life. The ability to focus and direct my energies in one direction is one of the reasons I have become a top ranking agent in Sacramento. I concentrate on the job at hand and do it well, because if it’s not done well, it’s not worth doing.
Today, when I meet with people who have over-improved their home and turned it into a white elephant, or have plans to do so, I cringe. Because I know without a doubt that the challenge to sell will be practically impossible to meet. These over-improved homes will appeal to such a tiny fragment of home buyers that it could take years before they find a buyer who is foolish enough to be underwhelmed by the facts and blown away by the emotional impact.
Because that’s the combination it takes to sell a white elephant.
People by their very nature want to live around other people just like them. They tend to gravitate toward conformity. Nonconformists live in corner homes, for example, but people who are not mavericks prefer the comfort of the middle of the street. If a buyer wants to spend half a million for a home, that buyer will purchase a home in a neighborhood of other homes worth half a million. She won’t buy a home in a neighborhood of $300,000 homes, much less on a busy street, and spend $500,000.
This is basic real estate 101: Location. Location. Location.
Unfortunately, those HGTV shows have turned ordinary homeowners into lunatics. Everybody wants to be a flipper, whether they have experience is not relevant. And that’s how they end up trying to sell a white elephant. Let’s not even try to talk about an appraisal because that discussion will simply make your head hurt more than it already does.
Buying a New Home in Land Park Sacramento
When I talk with people I haven’t talked with for years, they often ask if I am living in the same home in Land Park, as though the first thing they would do if they were selling 100 homes in Sacramento year after year would be to buy a new home. Not because I need a new home, mind you, but because I could. They ask I suppose because my existing home is not a mansion nor an estate, and that’s what they would buy. It’s just a plain ol’ single level home, around 2,000 square feet in Land Park.
It’s not located on a premiere winding street in Land Park and there is no view of William Land Park. There is no second or third floor. No marble floors with floor-to-ceiling columns. No four-car garage. No pool in the back yard. There is nothing all that remarkable about our home in Land Park. It suits our needs, and we’re happy with it.
But people are still astonished that we haven’t traded up or built our own mini-mansion because it’s something that most other people would do, I guess. I think buying a larger home is one of those items on a list when people play what one would do if one won the lottery. A larger home means more to clean, higher taxes and more crap that could go wrong. But that’s me. I’m also over 60 and less inclined to move again. My husband echoes that sentiment.
Fortunately, my clients often think differently and they might move every 5 to 7 years. I met with clients a few days ago who buy homes dirt cheap, remodel them and move up. It’s called buy, fix up and sell. There’s nothing wrong with that approach and, in fact, it’s a method I used myself over the years. We all have our different dreams and things we reach for. And that’s OK.
I dream of travel. I love to see new places, encounter different cultures, meet new people who can’t understand anything I say and vice versa (and I’m not just talking about the South). This morning I received a digital version of the Four Seasons magazine and was sidetracked for a while, reading about gourmet street food in Singapore, Budapest theatres and how to get a free night in Langkawi.
But a new place among Land Park homes for sale is not on the horizon for us. Our present home is just fine, even though we’ve lived here forever. If you’re looking to buy or sell a home in Land Park, please call Elizabeth Weintraub at 916.233.6759. I know just about every inch of my leafy neighborhood.
Is Your MetroList Rapattoni Client Portal Broken?
Tech Support at Rapattoni report the Rapattoni client portal is broken and is not working correctly all over the country — not just in Sacramento. Listings vanish before our client’s eyes. That doesn’t make us feel any better to know we are not alone with a broken client portal. Not every real estate agent has a problem, either, with the client portal from Rapattoni; it’s sporadic. For example, this Sacramento real estate agent doesn’t have that problem. I set up client portals to test the issue and they worked for me, but one of my team members continually struggles. He’s a young, techie guy, too, just in case any readers are wondering about the ever-ubiquitous operator error.
We called MetroList, which didn’t seem to be aware of the problem until we talked with Rapattoni. The Support team at Rapattoni confirmed that client portals are not working for other real estate agents as well. It’s odd that it works for some and not all, but that seems to be the case. My team member was also able to show the Support employee at Rapattoni how to duplicate the issue of vanishing listings.
A broken client portal is very frustrating for our real estate clients. They don’t have the kind of patience that Rapattoni possesses. They want their client portals to work, and they want them to work today. There seems to be no definitive deadline as to when Rapattoni will fix the problem.
I can’t send clients to iHomefinder searches because those are broken now, too.
MetroList is a monopoly. We Sacramento real estate agents are forced to rely on and exclusively use MetroList. There is no other system we can use. It’s not like we can call up Apple and ask them to fix the Rapattoni problem. We can’t go to Google to complain. We’re pretty much stuck with it. And since it doesn’t seem to affect a large number of agents, our priority level is low.
But I’d still rather talk to MetroList than listen to a Sacramento home buyer rant and rave because he’s already bought a home and wants to know why my team members at Lyon Real Estate closed down his client portal access. Because, dude, you already bought a house, that’s why. You’re in escrow. Looking at homes to buy is over. Standard real estate practice 101. You want to screw around online, hang out on Zillow or Trulia and look at shit that’s not for sale. You’re not singled out.
And neither are we. We continue to wait week after week for Rapatonni to resolve the broken client portal issue. Until then, we will probably drive to your home to hand deliver listings if that’s what it takes. We go that extra mile. That’s just the kind of Sacramento real estate agents we are.
Working with People You Like in Real Estate
Real estate is one of the few professions in the world in which one can pretty much choose to work with people you like and ignore the ones you don’t. People who don’t work in the real industry and view it only from the outside have a completely different viewpoint of what’s going on and how it works — but that’s true for just about any industry. It always looks simpler and easier when you’re not the one doing the work. Clients try to be helpful and offer suggestions which, to them, may seem like wonderful ideas but are often unrelated to the real estate market at hand. Maybe they got these ideas from a book, somewhere online, or from a family member who sold a home 20 years ago, and it can be hard for these types of clients to let go and let a professional do her job.
There’s not a real estate agent working hard in Sacramento right now who doesn’t know exactly what I’m talking about.
Even when we lay out the principles of real estate in an ABC format, people still have their own ideas about what a real estate agent should do and how they want their property sold. It’s OK because they wouldn’t be human if they didn’t have preconceived notions. It’s tough for us agents to explain because we don’t want to come right out and say to a seller, for example, that the seller is wrong. Nobody wants to be wrong. But sellers can be less right than they may have a right to be.
It’s a delicate balance. To inform, educate, bring about an agreement, a mutual understanding, a mutual agreement and to overcome stubbornness that might be staring us in the face, but it’s all part of the job of a Sacramento real estate agent.
There are times in the real estate business when you can’t come to an agreement. There might be no compromise. A client could be working within the realm of a distorted reality. So, what do you do when that happens? Some agents will take the listing anyway and figure they can ignore the yelling and screaming later. Other agents will walk away and decide to work with only clients who are more reasonable.
I try to keep it simple. If I like the person, even if we don’t see eye-to-eye on every single aspect, I might still work with them. I don’t have to agree with their premise to do a job for them. If I don’t like them, there is nothing they could say to make me want to work with them. Not enough money in the world could make me do it. Money is not a motivator to me. I don’t sell out for money; I don’t compromise who I am.
There are agents who say they would have no clients whatsoever if they worked only with people they liked. I guess I’ve been more fortunate.
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