Email ElizabethDangers of Home Buying Sight Unseen
A seller just had his escrow cancel due to dangers of home buying sight unseen. All because the buyer’s agent had not disclosed to the seller the fact that both of the decision makers had not viewed the home prior to submitting the offer. Which tends to happen when there are unscrupulous or ignorant agents (hard to say which description applies) who believe it is OK to deceive the seller and the listing agent.
Deceiving a seller is unethical and could be considered against the law due to possible breach of contract elements.
Of course, I asked her directly after receipt of the escrow cancellation form why the buyers cancelled as she had provided no reason to accompany the cancellation. She said she had “shown the home only to the husband. The wife had never seen the home until the home inspection.” The wife thought the master bedroom was too small, which was the reason they cancelled, the buyer’s agent explained.
Now, we all know that buying a home is one of our largest assets as well as it can be an emotional purchase. We often equate our home with family, tradition, comfort, safety and security, just to name a few. To show the property to only one of the buyers instead of both was a huge disservice to the seller as well as to the buyers. Buyers paid for a home inspection, which cost $400.00 plus for a home of this size. Not to mention, the buyers were from the Bay Area and had to drive that distance back and forth for nothing. They also put a $5,000 deposit check into escrow.
The problem is the seller had taken the property off the market when we put it pending in MLS. The first week is the high cycle to sell a home while the listing is fresh. Buyers in the home shopping market are hunting for a home and looking specifically for new listings. Now, the seller’s home has to go back on the market and resell all over. Such a huge disappointment and disadvantage for the seller, and very unfair to both sides of this cancelled escrow. Buyers should choose a buyer’s agent very carefully, someone who can explain the dangers of home buying sight unseen.
If you want to save time, and avoid both disappointments and unnecessary costs in your home buying process, call Weintraub & Wallace Realtors at RE/MAX Gold at 916-233-6759. We will make sure you see the home before you buy it. The good news is it is only a 90-minute drive from San Francisco to buy Sacramento real estate .
— JaCi Wallace
Sacramento Real Estate is a Continuing Seller’s Market
Our seller’s market is still here. For the fourth straight consecutive month, the pending sales are on the rise, confirming that Sacramento Real Estate is definitely continuing to support sellers over buyers. The first quarter shows closed sales increasing every month.
What does this mean for the Sacramento housing market? Does it mean Sacramento real estate is a continuing seller’s market? We are experiencing continuing price increases, based on high demand and housing shortages. Each neighborhood can be a bit different as this is the greater Sacramento county averages.
For example, we have certainly seen a housing shortage in the south county of Elk Grove. Multiple offers continue on well priced property. The listings have been steadily decreasing since October of 2018.
Yes, Sacramento real estate is a continuing seller’s market. If you would like to sell your property, this is a fantastic time, so please call the Weintraub & Wallace team today at 916-233-6957.
–JaCi Wallace
Weintraub & Wallace
Insider Tips for Making An Offer On A House
If you are thinking about making an offer on a house, there are many aspects beyond price to consider in your offer. First of all, make sure you have hired the very best Sacramento Realtor you can find with decades of experience. An experienced Realtor is going to know the finite details and there are so many.
The price, of course, is very important. So many buyers only focus on the list price and it can be way under market or way overpriced. Our Code of Ethics suggest we do a comparative market analysis every time we write an offer. I certainly do. Not every agent specializes in listings nor have they listed hundreds properties, which makes pricing property a pure art form. So many aspects, I could write a short story just on pricing!
As the buyer, if you are obtaining a loan always make sure you have your loan letter is attached to your offer. Hopefully, you have been ran through lender automated direct underwriting. Additionally, as we are talking about attachments, have your proof of downpayment and closing costs in your name and dated in current month, always provide those to your agent.
Write a letter to the seller about why you love this home so much. Talk about celebrations you will have there and how much you love a few particular features. Don’t underestimate the power of letters. My own house had 10 offers and the seller chose an offer, due to a letter. And the seller was an agent, me.
The costs of sale in the purchase agreement are important. Always a good idea to split the costs or, in seller’s markets, pay entirely for title and escrow. The transfer taxes and home warranty can also be split 50/50. The natural disclosure company should always be noted, we use Property ID for $99. Try not to ask for personal property (lenders don’t like it) unless you expect, for example, that the washer and dryer will stay. Your good faith deposit is always important. In California, liquidated damages are 3%, so it is a good idea to have an earnest money deposit be less than 3% of the purchase price.
Time frames: always find out from the listing agent what the sellers need regarding closing date. If they want time in the house after closing, great, give them a week or two. This can win the offer for you. Schedule your close date at the first date the lender says they can close escrow. Shorten time for inspections and appraisal contingencies. In some instances, you can remove the appraisal contingency upfront.
Do not ask for repairs such as pest clearance or or roof repairs in your offer, which can sour the positive mood of the seller. You have an inspection time period to verify everything, so don’t ruin the day for yourself. Shorten the inspection and loan contingency dates as that will help instill seller confidence in your offer.
This does not mean you can’t ask for repairs, but it depends on what it is and how much. I usually suggest to clients that they do not ask for anything not related to safety items; for example, wiring splices and improper venting would qualify. Breakers that are not working correctly, also another safety item, a red flag. A closet door off the tracks, not so much.
There are many other items but these are a few important steps for your checklist when writing an offer on a house. Simply ask your Realtor to follow these guidelines and you will have a much better reception from the listing agent. If you want to win when you make an offer on a house, call Weintraub & Wallace Realtors today at 916-233-6957 We write offers to win!
— JaCi Wallace
Weintraub & Wallace
Why Selling Sacramento Real Estate Isn’t a Job
Here is why selling Sacramento real estate isn’t a job. Business happens night and day, 7 days a week. There are no set work schedules for a successful Sacramento Realtor. Many of our clients, though, typically work an 8 – 5 schedule. This means meetings and telephone conversations with clients often happen on weekends and evenings.
There are daily tasks that do happen throughout the 8 – 5 time frame. Agents deal with bankers, title companies, appraisers, and inspectors communicating with us and scheduling appointments during typical workdays. Further, showings of listings are happening 7 days a week, 10+ hours a day.
Working in a real estate career for as many decades as me, well, I long ago determined that selling Sacramento real estate isn’t a job, it is a lifestyle. When I am going to the grocery store, or the bank, I’m still on call. If the phone rings, I take the call.
During holidays, family events, weddings, and birthdays, I’m checking email, and returning phone calls during restroom breaks. As I sit in my doctor’s office waiting for her to come in, I’m emailing clients or responding to inquiries. While I’m meeting with my accountant I am scanning my email the entire time. I always have my laptop or tablet with me. I may need to respond to an offer on a moment’s notice.
Working as a Sacramento listing agent, I fully commit to market and sell a client’s home. Being available is a responsibility we take very seriously at Weintraub & Wallace. If we are busy during the day with appointments and we have work that needs to be completed, we burn the midnight oil. I work many nights until midnight, and I’m happy to do it. Our clients know how hard we work and that’s why we have hundreds of 5-Star reviews.
Our clients know if I’m not out in the field on appointments, I’m at my command center working. When I power down my computer at night and all my tasks are completed, this official end to my day gives me a great sense of accomplishment. I love the real estate lifestyle. I’m passion about it and I can’t imagine doing anything else for a living.
I once sold a listing on Christmas day. Who looks at a home on Christmas? A serious buyer looks at all times of the year, because buying a home is her # 1 priority, so yes, even on Christmas! Those sellers were amazing. They left the home with a ham in the oven and went across the street while the buyers looked at their home in Folsom. The buyers wrote an offer that day and we had it sold that night.
Buyers who are looking for a home are not thinking, ” Ok, well, we won’t look today as it is a holiday.” They are looking for a home day and night. They drive neighborhoods and search on all the websites, they want to be first to respond. That’s the buyer I want to make an offer on one of my listings as they are serious!
I can’t say all Realtors believe selling Sacramento real estate isn’t a job, it is a lifestyle. I can’t even get some of them to call me back. It is sad, but true. Today, I have been waiting all day for a counter offer. Triple phone calls and three texts to this agent and I still do not have it. Who practices real estate sales like this? Well, someone who has another job. There are dual career part-time Realtors, they make up a huge part of our industry.
Something has to give when your primary focus is not selling homes. More than not the part-time real estate sales take a back seat to the primary full time 8 – 5 job. Many Realtors consider selling Sacramento real estate as a means for extra income, not because their livelihood depends on it. There are no shortcuts to success.
If you are looking for a full-time real estate practitioner who responds to inquiries, and answers the phone night and day, call Weintraub & Wallace Realtors today at 916-233-6957 Our team is committed to providing top shelf service to our clients 7 days a week!
— JaCi Wallace
Top Agents in Sacramento Receive 5-Star Reviews
Most of the top agents in Sacramento tend to receive 5-star reviews, but some reviews exceed even 5-stars. Some reviews are simply coming up roses every single time.
Going on appointments is what a busy Sacramento Realtor does; however, after all is said and done, smelling like a real estate rose is no easy task at the end of each day. (This photo was taken in my rose garden.)
Talking to new people every day is the life of a listing agent. Some people will not ever turn into clients, some may take years, some things just happen in their life and they don’t list. The key to all this is to recognize that we are like the rose in this photo, vibrant, full of life, and open to all who want to linger near us.
Three listing appointments this week were ready to list and through no fault of the potential sellers, things shifted. They decided not to sell for personal reasons. No new listings today, that does not slow me down one bit. My job is to help as many people as I can, every single day. So, when the phone rings and a new person is on the line wanting to know if Weintraub & Wallace are the real deal, I can say YES.
You might ask: what does that mean to be the real deal? It means we will do what we say: sell their property for the highest and best possible price, to negotiate as few repairs as possible, if any, with the best possible terms. We will over-communicate throughout the transaction. Now, to accomplish all this may sound easy but there are pages and pages of action items to make all this happen.
You know why clients hire us? They see the hundreds of 5-star reviews our clients post, additionally, the 1,100+ closed sales, these results speak volumes. This provides clients searching for an agent to have confidence in our abilities to deliver 110%. Every. Single. Escrow. When top Sacramento agents receive 5-star reviews, you can bet we earned it.
What drives us to do a job that is often 18 hours a day, 7 days a week? It is that sole client, we know we made a real difference in their life. It wasn’t strictly that we sold their home, it was everything in between.
When we get that special online review where a person puts their heart onto a page, we feel our work was so valuable. What a great feeling and we go right back to work to make it happen again and again.
Yesterday, we received a Zillow review for our exclusive buyer’s agent, Josh Amolsch. The review was lengthy, full of praises for the great work Josh had provided this client. He clearly put their interests in front of his own. The client was over the moon for Josh. When top Sacramento agents receive 5-star reviews that go above and beyond, it is even more special to us. This is not an EZ job. If it was, everyone would do it.
Josh is all about integrity and placing the right information in front of me so that I can make the right decision for myself.
Mallorie Rose
There is a price for success, but it is a price that Weintraub & Wallace Realtors suit up for everyday. We can’t imagine doing anything else. To say we are committed to our job would be an understatement. Selling real estate is not a job, it is a lifestyle. Call Weintraub & Wallace today at 916-233-6957 to obtain your real estate objectives…
— JaCi Wallace
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