Wordless Wednesday in Sacramento
A Wordless Wednesday in Sacramento.
If you would like to hire a team of real estate professionals who use every ounce of energy in a given day to ensure your home closes escrow, call Weintraub & Wallace Realtors at RE/MAX Gold, 916-233-6759.
— JaCi Wallace
May 2019 Homes Sold in Sacramento Spell Competition
The number of May 2019 homes sold in Sacramento could spell heavy competition between buyers. This is your Market Update: If a picture paints a thousand words, this photo says it all. The pendings have met the active listings, and this has not happened in the last 15 months. This is huge for the greater Sacramento County and could spell out even fewer homes to buy. It is a seller’s market, and buyers do not kid yourself; write your highest and best offers and throw in the kitchen sink too . . ..
The low inventory of homes is slim pickings and, in some areas, it is a deficient number of homes for sale. Look at the March pendings vs. April, the light green, then the red line, the pendings. This shows that even with a slight increase in homes available, this increase was absorbed by the buyers.
The pending sales in Sacramento have steadily increased since December 2019. This is a crossroads we face. Inventory based on prior years should, by history, increase starting in February; however, our inventory decreased in February and March of this year. We had a slight uptick in April, but it all sold.
May 2019 homes sold in Sacramento is the highest number in 15 months. Here are some tips you can use when you are buying a home.
- Write: short inspection time periods such as 10 days to complete your inspections.
- Shorter loan approval time frames make your lenders hustle.
- Shorter appraisal days, pay for a rush.
- Split title, escrow and transfer taxes fees.
- Pay for your own home inspection.
- Tell the seller in the offer you will not ask for repairs.
- Provide loan preapprovals, proof of funds and other relevant information.
- Close escrow quickly.
- Offer a seller rent-back at no cost.
What does all this mean for buyers? In short, buyers stop thinking you are going to get a deal; as reflected in this May 2019 homes sold in Sacramento report, you could face months and months of letdowns. You must write competitive offers. Think out of the box. Use great lenders like our preferred lender with Guild Mortgage, Dan Tharp.
If you want to hire agents who think out of the box, call Weintraub & Wallace at RE/MAX Gold, 916-233-6759.
— JaCi Wallace
How To Cancel a Listing or Purchase Contract
Wondering how to cancel a listing or purchase contract? Below is a previous post on another site written by partner Elizabeth Weintraub. What is so interesting — it’s as relevant today as when written, more than a decade ago. These questions are asked often by the public when visiting our website about: Sacramento Real Estate.
“It’s too bad that you can’t just rip up a contract to terminate an association or an agreement, but that’s not how it works. To find out if your contract can be canceled, the first step to take is to read the contract. Contracts typically contain a provision for cancellation.
Many contracts are bilateral, meaning a promise for a promise. If the other party is not living up to its promise, it’s possible you may have grounds for cancellation.
I give my clients personal guarantees that if at any time they are unhappy with my services or if they feel I am not performing as agreed, I will cancel the contract, whether it’s a listing agreement or a buyer’s broker agreement.
Because I am not a party to the purchase contract — at least not in California — I cannot cancel a purchase agreement. Only buyers and sellers (or the court) can cancel a purchase agreement. But purchase contracts contain provisions for cancellation and, in most cases, the buyer can get her deposit back. I’ve heard of buyers these days walking away from signing loan documents and canceling the contract at closing. The buyers either got cold feet, found a better property to buy or simply changed their minds. Of course, THAT leaves the buyer’s earnest money deposit at risk, but for some, it’s not enough to worry about.
If you require legal advice, however, by all means, contact a real estate lawyer, because real estate agents are not licensed to give legal advice.
Here is more about how to cancel a contract.“
— Elizabeth Weintraub
If you are interested in selling or buying a home, we are here to help you achieve your goals in real estate; call Weintraub & Wallace Realtors at RE/MAX Gold, 916-233-6759.
Classic Land Park Tudor Homes
Classic Land Park Tudor homes are unlike any other — in my book, anyway. The charm and original touches take you back in time. Today, I was working in Land Park on a new listing by the Tower Theater. Carol Crestelo, one of our exclusive buyers’ agents, was accompanying me as we had a lot of work in the area.
While driving along the tree-lined streets, we noticed an open house sign. It was an old friend from a previous brokerage, holding open a fabulous classic Land Park Tudor home. We stopped to say hello of course, after all, we are Realtors, we love looking at homes too, lol. This property did not disappoint; it was amazing. The front yard was massive, with a huge redwood tree and mature landscape. The pitched roof in the front was impressive.
Entering the home you immediately notice an 8-foot storybook picture window with leaded glass inlay, looking onto the front yard. The outdoor view of beauty took your focus from the interior to the outdoors. A feeling buyers dream about. The stained glass accents on the windows and the oak wood floors, combined with a massive focal fireplace, made it love at first sight.
The elongated arched carved doorways gave rise to a coved 12+ foot ceiling in the great room. The natural light engulfed the room, and no artificial light was necessary. I could already envision a 10 foot fresh Christmas tree in front of the picture window adorned with so many twinkling colorful lights, that it took your breath away. What a room to celebrate holidays and create memories for a family to carry in their hearts an entire lifetime. This three/four bedroom home had a room for everyone.
From the great room, you can see an oversized formal dining room with a built-in hutch. This gives just the right entertainment space for guests to mingle right off of the kitchen. There is also a quaint breakfast nook circled by windows in all directions. Sitting there in the mornings enjoying a cup of coffee you can watch the neighbors walking their dogs. This is a home where you could comfortably live the rest of your days.
Off the kitchen down a few steps is an open office area. Next to it another room with a full bath, a perfect guest room area, children’s playroom or workout space, so many options for this bonus room. Just behind the office is a darling laundry room, lots of windows, a laundry sink and cabinets and an exterior door. This is all on the lower level the upstairs was next to tour, we could hardly wait to see it.
The wooden staircase is just beautiful leading up to the 3 bedrooms and an updated full bath. The master bedroom even has a walk-in closet. What charm, this home is a jewel. Did I forget to mention a two car detached garage and a new roof?
The favorite part from the open house visitors I overheard talking was a huge backyard with gardening beds, patios, lush vegetation and more. Vegetable plants were growing nicely in raised beds, Plenty of flowers about to bring the bees. Even a waterfall is featured, talk about paradise. What more could anyone want? This home will go fast as they are looking at offers in only a few days. Humm, this left me thinking who do I know that would adore this home as we did.
The potential for this classic Land Park home is outstanding. Why will this home sell and another won’t? Location, Location and Location. All that is needed is a new master bath addition, and you have it all in one highly desirable location. Swimming anyone? There is plenty of room for a pool.
The listing agent is honest as the day is long on this one, so a buyer has a fair chance if they make the right offer. A lucky buyer who qualifies to make the first offer on this property may be a nervous wreck wondering if their offer will be accepted; heck, the buyer’s agent will bite off all of her fingernails waiting for a seller to decide, lol (I confess I bite my nails sometimes). Keep your fingers crossed as a home with all these features rarely comes on the market.
If you want to buy or sell a classic Land Park Tudor home, call Weintraub & Wallace at RE/MAX Gold, 916-233-6759.
–JaCi Wallace
Ways To Say Goodbye To A Home Buyer
An agent who needs to say goodbye to a home buyer when the relationship becomes strained might find that getting creative softens the blow. You don’t have to feel the need to punch them in the face, I’m speaking metaphorically of course.
To be fair, there are likely a certain number of buyers and sellers who feel like saying goodbye to their agents as well, and I’m thankful that doesn’t happen to me. Fortunately, there are easier ways to say goodbye to a home buyer rather than sprinkling the laxative powder into your buyer’s coffee before you go out to show property; just kidding, of course, I saw that in a movie.
That’s because when I’m in the groove and working, I am very focused on the job at hand. I shoot straight from the hip and don’t mince words. Part of the reason I’m so straightforward with people is if I made up stuff, I’d have to remember what I said and, at my age, I’m lucky to remember where I left my cell phone. The other part is I see no reason to be dishonest or untruthful with anybody, whether they are my clients or my sister asking me if she looks fat in those jeans.
But not everybody wants to hear the truth. Some people prefer to skirt around issues and ignore the white elephant in the room. Confrontation makes them uneasy. There is a tactful way to deliver even the worst types of news. Back in the day, when I was a Deputy Sheriff Coroner for Yolo County, I had to knock on people’s doors to tell them a loved one died. Talk about tough conversations. I asked them if I could come in and then asked them to sit down as I had some very unfortunate news. Of course, I had to tell them the bad news. Then I would go to the phone on the kitchen wall and call someone to come over, so they were not left alone. This was in the 1980s and we had rotary dial-up phones on the wall. After delivering this kind of news, learning to say goodbye to a buyer, easy.
I don’t tell people what they want to hear. I tell my buyers the truth in the way I see it. So, when buyers called me during the dinner hour, demanding that I drop my fork and dash over to show them a home they were standing in front of, I declined. I explained a particular house may not fit their needs because it was a fixer. It was not an updated, turnkey dream home they desired. I suggested they stand in the street and listen to the roar of traffic whizzing by. Did they want to buy a fixer on a busy street? No, it turned out, they did not. I sometimes sense buyers were irritated that I was right.
Nevertheless, I have shown buyers homes for months: during rainstorms, early mornings, holidays, weekends, late evenings and over lunch. During that time, I may write many offers, none of which flew because they were in high-demand neighborhoods or our buyers have low down payments. The buyers sometimes do not want to hear that sellers weren’t going to bend or that comparable sales supported the list price. Because, after all, now that they may be living in a rental, so they have time to delay. Ultimately, another lucky buyer ready to pay list price or more with a high down payment may swoop in and buy the house right out from under our buyers.
I tell buyers if they are interested in a home to write an offer. Especially in desirable, hot neighborhoods. Because in California, purchase contracts aren’t binding until the 17-day inspection period has passed and the contingencies have been removed. If it’s a hot new listing, it will sell to somebody else while buyers are taking their time weighing pros and cons. I explained this concept to the buyers, who implied I must be smoking crack because none of their friends ever had a real estate agent tell them they could cancel a contract. Which makes sense. Most agents won’t tell a buyer this because they want the deal to close. Agents want to get their commission and use it to buy tropical drinks on the beach in Hawaii. What a joke, ha-ha. Who has time for a vacation, not this busy Sacramento top producer?
In the end, we can decide to part ways. I may often suggest buyers work with another agent because we were not seeing eye-to-eye and were not communicating well. At first, they are sometimes shocked and refuse to end our agency relationship. My best line, ” I would rather turn you down than let you down.” That can stop the back and forth and clearly I say goodbye to a home buyer. I just fall down on my sword take the blame and wish them well.
The one thing we have sacred is time. I choose to spend time with people who value my time. They don’t know the sacrifices I make to my life, to my health, to my sleep, when working on their behalf. I give all or nothing. So sometimes when a buyer or seller snaps my head off I tend to immediately question, ” Do I really want to continue to work with someone who expresses this type of behavior? I may let it go one time as maybe they had a migraine, I suffer from those. If rudeness happens once, ok, but with me twice and you’re out. I don’t need three strikes to know what comes next.
Finding the house is only half the battle, however. That’s when the real fun begins and an agent’s expertise pays off in spades. I say more power to them. Rather than argue and call them on the carpet, I cut them loose., I say goodbye to a home buyer. Because sometimes you just gotta let ‘em go, nip your losses in the bud and get on with helping other clients find their dream home.
If you would like to work with one of our exclusive buyer’s agents, call Weintraub & Wallace Realtors today at RE/MAX Gold, 916-233-6759.
–JaCi Wallace