Email ElizabethWhy Pending Sales Contracts Cancel
Below is a great post Elizabeth wrote about canceling contracts for another site in 2007. We just had a buyer cancel on a 1031 exchange and it was out of the blue. I think this is a timely article and thought we would share it with our readers. Great writing about real estate is applicable even a decade later. Enjoy! — JaCi Wallace
Wondering why contracts cancel? Well, it ain’t over until the fat lady sings is an expression some agents use when an offer has been accepted. That’s because offers can fall apart and blow up, especially after a home inspection. Contracts cancel. But the reasons contracts cancel aren’t always about the home inspection. Sometimes, buyers freak out.
It seems normal to go out and look at homes without experiencing anxiety because after all, you’re just looking. Some buyers can look at homes for more than six months before making up their minds which home they want.
Signing an offer and waiting for an acceptance, however, is an anxious time for many home buyers. And it’s not until the offer comes back accepted by the seller that the reality of the situation begins to sink in. That’s when buyers bolt straight up in bed at 3 AM, eyes blazing and hands sweating, asking themselves, “What did we just do?”
If you want to buy or sell real estate, or talk about why contracts cancel, call Weintraub and Wallace at RE/MAX Gold at 916.233.6759.
— Elizabeth Weintraub
The California State Fair 2019 and 97+ Degrees in Sacramento
The California State Fair in Sacramento 2019 and 97 + degrees in Sacramento today. The State Fair used to have a different location and I sat on those golden bears as a little girl. I can still remember the excitement of the fair with the company of my three younger sisters.
The hotter the better, we didn’t care, it was so worth it. We loved to see everything and, of course, eat junk food. The exhibits were always of interest to me. The livestock though was my favorite part, still is.
I won’t be attending California State Fair 2019, partly because of a busy schedule and, of course, the hot temperatures. I hope all of you will have a chance to experience the California State Fair and, by all means, have a funnel cake, :>).
If you would like to buy or sell real estate, call Weintraub & Wallace Realtors, with RE/MAX Gold, at 916-233-6759.
— JaCi Wallace
Real Estate Boarded Up And For Sale
Real Estate boarded up and for sale can happen anywhere. I was looking at two new listings today in the Oak Park area. There are several nice streets that have updated homes. I saw people walking dogs and taking strolls about the neighborhood. Many people enjoy living in Oak Park. This is clearly a neighborhood that has grown in popularity over the years.
Some investors have bought properties in the area as rentals. There is such a shortage of good rentals and the need for more affordable housing is a factor in many cities. Like many big cities, in Sacramento and across the US, there are some open lots where people are camped out.
Our client had great tenants for many years and enjoyed being a landlord. The pricing for resale homes has increased since he purchased in 2014. Oak Park real estate value has appreciated substantially. While I was looking at the current values for these properties I saw up to a 150% increase in appreciation. This is great news for our clients.
Our client has two properties in the area. He had to board up one of his properties as it has been broken into multiple times at night due to being vacant. Also, the hot temperatures outdoors could be a contributing factor. This can happen anywhere when properties are left vacant for extended periods of time.
There are companies for hire that will come out and board up windows and doors to quickly secure a property. This was a more common occurrence in the REO days when driving down streets and seeing vacant homes with boarded-up doors was not out of the ordinary in any neighborhood due to foreclosures.
A neighbor had called law enforcement to report the trespassers as there were people camping out at night inside our client’s house. The property had some vandalism reported on the interior. This, of course, will need to be disclosed to the new buyers. Our clients decided as their tenants moved out and they live hours away, it was a good time to sell and cash in on the equity. They said if the property was not vacant there would not be an issue.
They were in the process of doing some clean up when the repeated break-ins occurred. This real estate boarded up and soon to be for sale, will be available to look at in the next few weeks. The owners decided to secure the property until it is sold and new owners can move in. This photo above is not the house I listed; but, it gives you a visual on what a boarded-up property looks like.
The sellers said they had high demand when renting the properties out had several people apply to rent the homes. They had great long term tenants for many years that took care of the properties. If you are looking for a rental property in the Oak Park area, we will have two properties on the market in the coming weeks. With the high demand for rentals in the area, this could be a great opportunity for investors or first time home buyers.
If you want to sell or buy a property in the Oak Park area, call Weintraub & Wallace Realtors with RE/MAX Gold, at 916-233-6759.
— JaCi Wallace
About Writing Offers Without Viewing a Home
Writing offers without viewing a home is an article that was written by Elizabeth for another publication. Believe it or not, this was written over a decade ago. This subject is as much an issue today as it was in 2007. — JaCi Wallace
“One of the services I offer my Sacramento sellers is, upon receipt of an offer, I always check MLS to find out if the buyer’s agent had accessed the lockbox. We can tell if the agent opened the box. If we have 10 offers on a home, and 9 of the agents showed it and one did not, the agent who did not show the home is at a severe disadvantage. Because we will tell the seller that her buyer has not seen the home. A buyer must see the home.
Having said that, I did buy a house in Hawaii that my husband did not see. It’s not because he didn’t have a chance to view it, it’s that he wasn’t in Hawaii and wasn’t about to fly over to the island to inspect a property that his Realtor wife had already viewed. But most buyer’s spouses are not like that. Typically, there are two decision makers.
Now, I have asked agents directly if they showed the house and they will say, “yes, the wife saw it.” So then I have to ask: did you go inside? Because I’ve had agents “clarify” when pressed that the wife had driven by. Which is different from what I asked. I was asking if the buyers were writing offers without viewing a home, and Realtors are required to tell the truth under the Realtor Code of Ethics.
Further, spouses will often use each other as excuses. Ever try to pin down a guy to an appointment time and he’ll say, “Let me check with my wife?” That means you’ll never hear from him again.
If you want to sell your home and ensure your buyers see your home before they make an offer, call Weintraub & Wallace Realtors, with RE/MAX Gold at 916-233-6759.
— Elizabeth Weintraub
Welcome Jacks Home To Elk Grove
We were so excited to welcome Jax back home to Elk Grove. He had been gone for a year as he was on the dog show circuit in Oklahoma and Texas. A friend had been showing him. He had the greatest time in his life. He left a dog who didn’t like strangers and he came home a social butterfly. He is acclimating back to home life here on the 5 acres we call home. His 2 daughters don’t remember him. They were just little puppies when he left us for a year of hard work and grueling training. They are trying to warm up and become friends.
Elk Grove and Wilton are cities in the south county where acreage is common. Having dogs, horses, cats, and chickens are more the norm than not. Selling ranches here is a joy and Jax loves to go for ride alongs in the truck. We missed you and welcome back home to Elk Grove, Jax.
if you want to list or buy acreage property call Weintraub & Wallace Realtors with RE/MAX Gold, at 916-233-6759. We sell ranches, land and so much more, call today.
— JaCi Wallace
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