Sold Off Market By Your Carmichael Real Estate Agent: 5324 Mustang Way

5324 Mustang Way, Carmichael, CA 95608 sold by your Carmichael Real Estate Agent Elizabeth Weintraub

One of the services I offer my sellers of homes in Carmichael and other communities throughout Sacramento is my tips for fixing up the home prior to sale. I make sure the types of improvements or repairs I suggest are things that will return 100% or more, because otherwise they don’t make financial sense. The things I suggest are often dependent on not only market conditions such as whether it’s a hot seller’s market or a buyer’s market, but also it’s based on the condition of the home.

This particular home closed escrow with your Carmichael real estate agent representing the seller. Another Lyon Real Estate associate who worked at a different office represented the buyer. But that’s not how it started out. It started out with a few showings, and then the seller had a personal reason for wanting to stop the showings for a few weeks. I immediately put the listing into temporary off market status and left it there, waiting to hear from the seller.

They had made a few repairs such as pulling the smelly dog carpeting in the entertainment areas and replacing it with engineered hardwood. I had them change out old jangly ceiling fans with more modern fixtures. We painted a boldly colored wall with a more neutral tone, fixed a few holes. However, the home was still in its original condition. There were drawbacks such as a remote bedroom in the garage, a funky kitchen and a weird layout. The upside was the huge lot, RV access, the pool, and location. It had potential and was very much livable.

When the home first came on the market, I had received a call from buyers who seemed very interested but for some reason, I don’t recall why, could not view the home. They called me when it went into TOM status. Turned out they had a real estate agent, so I talked to their agent and threw out the idea of writing an offer subject to inspection. I am required to present all offers to the seller. Just because I’m not marketing the home and it’s off market doesn’t mean she could not send us an offer.

While that agent was working on an offer, all of a sudden, out of the blue another agent called your Carmichael real estate agent, inquiring about the status of this off-market listing. I told her another agent was writing an offer subject to inspection and suggested she do the same. Whammo, two offers on a home that was not on the market. Our first buyer went into escrow. The second buyers, the guys who had called me, were furious. But, hey, go into backup, I suggested. Write a backup offer. Be in official backup.

Sure enough, the first set of buyers toured the home and decided, for all the reasons  I already pointed out, it was not suitable for them, and they felt the home required too much work. That was fine. Because the backup buyers moved into first position and they closed escrow a few days ago. And this is how your Carmichael real estate agent came to sell a house that wasn’t on the market. This home at 5324 Mustang Way off of Winding Way closed at list price of $444,000. We capped the pest work at $3,000 and the VA buyer absorbed all other costs for repairs and pest.

Two Tips to Buying a Home in a Low Inventory Market Like Sacramento

1. If you cannot find a home to buy in Sacramento, one thing your agent can do is call listing agents on the off-market listings. Sellers might be happy not to have to deal with a bunch of traffic later and will take a bird in the hand.
2. What you can also do is put in a backup offer if you lose a multiple-offer bidding war. You have a very good chance, maybe 50%, of moving into first place. It is not unusual for first-time buyers to cancel.

If you’d like more tips, call Elizabeth Weintraub at 916.233.6759. Put my 40+ years of experience to work for you.