How to Attend a Funeral
One type of social function I have not attended in recent years has been a funeral. It’s not that I’ve been too busy selling real estate in Sacramento to notice when a friend has died, like I’m certain some agents who close fewer transactions than I might use as an explanation. Oh, she’s just too busy to come cry over you, I can hear them whispering to the person inside the coffin. “There’s always something about about your success,” Mark Twain once noted, “that displeases even your best friends.” It’s more that the people who are the survivors don’t seem to be holding as many funerals as they once did.
It could be that the grieving population in general are moving toward a preference for private affairs to pay respect to the deceased. They don’t want to share their grief with everybody and the guy and his dog down the street, not when we have Facebook. Although, when my neighbor’s husband died, practically the entire membership of the West Sacramento Sikh temple showed up at her home, dressed in white, to sob with the widow. All the men went into the back yard to shoot the breeze, and the women pushed back the furniture in the living room, and sat on the floor to openly cry, sob very loudly and grieve. It was beautiful. Why can’t we be as expressive and supportive in times of death like that? Instead, we are supposed to be strong and, for the record, that’s about the dumbest thing I ever heard.
You see, years ago, I decided that I should prepare myself for funerals. This was way before I had written a parody about the affidavit of death. I knew nothing about funeral etiquette, primarily because I had never been to a funeral. I was in my 40s, and I had never gone to a funeral, the reasons for which escape me. I called my best friend at the time, Tammy, and I asked her if she would teach me how to attend a funeral. It was a social skill I figured I better learn, for if nothing else, I would be soon reaching an age at which I better know what to do because, let’s face it, my friends were no spring chickens anymore.
Contrary to what I thought, one does not receive an invitation to a funeral. There is no engraved invitation that reads: Mr. and Mrs. So and So requests your presence at the bereavement service for their son, Mr. So What. Nope, you either read about the death in the newspaper or a friend or relative calls you. Since none of my friends were dying any time soon, I picked up the newspaper and circled a few obscure funerals to attend. See, this is one important thing that still needs to be published in a newspaper. The death notice and obituary section.
My husband, having been a newspaper journalist for all of his life and except for the occasional freelance piece now and then after he was let go, is still a darned good, although unemployed, newspaper journalist, says a death notice and an obituary are not the same thing, and people tend to mix them up all the time. A death notice is a paid advertisement. An obituary is a news story. The Minneapolis Star Tribune ran an obituary on my mother when she died. I cannot imagine having to call sons and daughters whose parents have just kicked the bucket to talk with them about their parents. That job must go to the low woman or man on the totem pole.
I didn’t have any script drawn up. I’m amazed my mother didn’t write one herself. She was that kind of person. In fact, I should probably write my own death notice and get cranking on it. Newspapers have obituaries on file, already written, about many celebrities, just waiting for the celebrities to up and croak.
But enough about obituaries and death notices and on to the event you’ve been waiting for: the funeral. I can share some things with you that I learned about attending funerals of people I do not know. You might think this is a given and everybody knows this, but make sure you bring plenty of Kleenex. Yes, Kleenex is a registered name, unlike, say, toilet paper. Under no circumstances should you bring toilet paper, unless you bring enough for everybody and the funeral is held at a Tractor Pull event.
You should sign the guest register before entering the church. Most funerals will be held at a church. Even if you are not the least bit religious, perhaps you’re an atheist or maybe a Presbyterian, you should still do everything that everybody else does. If they stand, you stand; if they kneel, you kneel. If they sing, you sing, but not very loudly. And it’s absolutely OK to cry, even if you don’t know the person. Just don’t make a spectacle out of yourself. Go easy on the eye makeup, even if you’re Gene Simmons. And you don’t have to wear black, but it’s uncool to show up in a neon mini-skirt and six-inch heels.
This information could come in handy some day, and I am very happy to provide it to you. You never know when it might crop up. People die all the time, even during real estate transactions. I’ve been fairly fortunate in that no sellers have ever died on me during escrow. But just the other day, a client for whom I had negotiated and sold her short sale a few years ago contacted me. She said I probably would not remember her, but she remembered me, and her 2 years were up, and she wanted to buy another home. She asked if I would represent her as a buyer, which I am more than happy to do. To help me remember who she was, she said her escrow was the one in which the buyer had died because the short sale took so long to close.
Well, that could cover a lot of short sales in Sacramento.
Choosing a Sacramento Real Estate Agent in the Top 10%
My relationship with Google is that of love and hate. It’s a necessary evil. When Google says Do No Evil, I wonder why they don’t talk to themselves about it. Isn’t world domination in itself sort of an evil goal? Don’t they ever watch 007 movies? On the other hand, Google delivers my products and services to the world.
It’s difficult to put a real estate term into Google and not find one of my articles about real estate. Ditto for a real estate phrase. I continue to write because there is always something to write about, and Google loves me for it, even if the feeling isn’t exactly reciprocal.
Many of my clients find me through Google. They land on my homepage, and when they get here, I want them to feel like I am person to them. Because I am a person. I’m not your cookie-cutter Sacramento real estate agent, either. I believe I’m different. I strive for quality and customer service. My title and escrow background is of an enormous benefit to my clients because I can provide an added benefit that almost no other agent can. Moreover, I offer strategy and analysis. You’ll be amazed at what I can tell you about a property just by looking at the public records.
When clients see all real estate agents as cut from the same mold and being identical, I think they should ask themselves what makes the Top 10% the Top 10%? And then choose an agent in the Top 10%. Because the Top 10% are the agents doing business hand-over-fist. The more experience your agent has acquired over the years, the better for you.
The Waiting Period for Multiple Offers in Sacramento
How many purchase offers does it take to sell a home in Sacramento these days? Maybe a better way to put it is how many days should a seller wait to accept an offer after receiving the first purchase offer?
An agent in San Jose called Thursday afternoon about a listing in Elk Grove that went on the market on Monday. I informed her the home was pending. Wha? She was shocked. She stuttered, “Bu bu bu but, it was ONLY three days — THREE days!!” What can I say? Indeed, some agents have been sleeping under a rock. Another agent called to say her clients had finally looked at the home Wednesday night and went home to sleep on it. When they woke up Thursday morning, they decided they would like to make an offer. Except now the home is pending. How is this my fault, I want to know?
If a person is seriously searching for a home to buy, that person receives listings directly from MLS through their Sacramento real estate agent, and they study those listings every single day. Buyers can opt to receive listings more often than once a day as well. Then, when they find a home, they need to be Johnny-on-the-Spot, run over, inspect and write.
The problem with most purchase offers is the offer itself is good for only 72 hours. So, if a seller receives an offer on Monday, to keep the offer alive, a seller needs to respond by Thursday, typically by 5 PM. Although, few homebuyers want to wait 3 whole days for an answer. It makes them antsy and agitated. I mean, what if it was you? Would you want to wait 3 days for an answer?
Usually the first day or two, offers come in from buyers who have not viewed the home. Many of these types of buyers are investors, with the bulk hailing from the Bay area. These people are hopeful that if they are the first offer, they will get the home, and that’s not really how it works. If the buyers haven’t seen the home, their offer does not hold as much validity as the offers that arrive on Day #3 and Day #4. After a while, all of the offers are about the same. There will most likely be a lot of cash offers.
Is it worth your time to write an offer on Day 4 when the seller has multiple offers? Depends. What do you have to offer that hasn’t already been offered? It should probably be cash or at least over 20% down conventional, in this market. Because the seller doesn’t really need 50 offers. The seller needs the offer that is the best and the offer that will work for the seller.
Another Amazing Bank of America Cooperative Short Sale
I closed another Bank of America cooperative short sale yesterday, this time in West Sacramento. The entire short sale was processed as smooth as silk. Our on market date to closing was fewer than 60 days, start to finish. This is because I prequalify my sellers whom I believe will be a good candidate for the Cooperative Short Sale. By the time we go on the market, we have the agreement in place to do a Cooperative and we have the preapproved price from Bank of America. Which in this case, was about $50,000 less than I anticipated.
There doesn’t seem to be a lot of rhyme nor reason to the valuations we receive from Bank of America. Most of the time, they are right on the nose, but sometimes the prices are too high and, every so often, they are a little too low. Even when they are low, though, it sets the stage for multiple offers, and multiple offers can push up that price.
When I sat at the dining room table with the sellers, I could see the little clouds of doubt lingering in their eyes. They were sharing with me their net worth and retirement plans, and I was explaining how Bank of America will most likely not request any financials, no tax returns, no bank statements; not even a hardship letter. It was clear that saying this was akin to telling them the Easter Bunny would hop into their yard in the early morning hours to hide Easter eggs. They nodded and looked thoughtful, but they had reservations, as any normal person would.
We went on the market, received several offers, and were in contract a few days later. The buyers absolutely loved the home. When Bank of America asked the sellers to submit a 4506T, that was the other shoe they had probably been waiting for to drop. But the 4506T was just a form, and whether the bank requested tax returns or didn’t, it had no bearing on the short sale.
The nicest part about the short sale is the fact the buyers gave the sellers permission to move at leisure, so there was no big rush at closing to get out. The sellers were able to stay current on their mortgage payments and were released from liability, plus the bank paid them a relocation incentive on top of an HIN incentive. Everybody got what they wanted, which makes for a very happy ending!
If you’re wondering whether you might qualify for a Cooperative Short Sale through Bank of America, call your Sacramento short sale agent, Elizabeth Weintraub, at 916 233 6759. I’ve closed many cooperative short sales; I know how everything works, and some sellers qualify for different types of programs. Don’t trust your future to some agent with an unproven track record. Get an expert.
Congressman Uses Political Power to Persecute a Short Sale Agent
A friend of mine, a real estate agent on the East Coast, is under investigation and accused of breaking the law when he did nothing of the sort. It’s a crazy situation, this short sale lawsuit, apparently brought on by vengeance and petty vindictiveness, in other words, it’s political. Some guy in Congress tried to buy a short sale. He wrote an offer that was contingent on selling his home and sent it to my friend, the listing agent.
Now, you and everybody from California to Florida knows that a contingent offer for a short sale has about a snowball’s chance in hell of getting accepted by the bank. All the short sale agents I know would advise their sellers to reject such an offer if, for no other reason, than they will undoubtedly receive another viable offer without such a contingency. A short sale bank is under no obligation to approve a short sale and, it is even less likely to do so, if the buyer is not in the financial position to purchase the home because the buyer has not yet sold his own home.
Moreover, to add more ammunition to his complaint, the congressman threw in a charge of misleading advertising because the listing agent advertised the home as a Wells Fargo short sale. He says the agent did not have the permission of Wells Fargo to market the home. The problem with this accusation is Wells Fargo does not give agents permission to market the home because agents are free to market the home without the permission of the short sale bank. In fact, the bank insists on it. On top of which, how the short sale will be processed and the length of time it will take to get approved all depends on the bank. Which is why all short sales are labeled by the lending institution.
You have your Bank of America short sales, Chase short sales, Ocwen short sales, Citimortgage short sales, Green Tree short sales, Nationstar short sales, and yes, your Wells Fargo short sales. Throw into that mix, say, a HAFA angle, and now you’ve got a Wells Fargo HAFA short sale.
But this legislator is having a hissy fit because his offer was not accepted by the seller and sent to the short sale bank. So, he’s coming after this listing agent with both barrels blazing by filing this short sale lawsuit. And he seems to have the state department of real estate commission riding halfback. He is using his political power to persecute an innocent person. This is indeed a sorry situation and a poor reflection on our political process that allows such a horrendous situation to move forward, particularly when it is baseless.
I have tried to be helpful to buyer’s agents and share with them the reason(s) the seller did not accept their offer. I think from now on I will keep my mouth shut. Because whatever you say, evidently, can come back to bite in the form of spite.