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A Preemptive Strategy for Sacramento Real Estate
There are days in this business when I wonder to myself how any first-time home buyer ever gets out of underwriting unscathed. Buying a home in Sacramento is not as easy as those who aren’t in the market for a home believe. It’s becoming more complicated all of the time. Juggling all those balls in the air.
I’ll be the first to admit that I don’t do mortgages, I am not in the mortgage business, and I don’t know much about the mortgage business because that is not my specialty. I’m also very wary of agents who try to do both jobs and generally end up failing at one or the other or both.
I know enough to realize one does not send to the lender a list of things wrong with the house, for example. We don’t send unsolicited inspection reports to the mortgage lender. We hope that our borrower has not run into any close encounters of the third kind: short sales or foreclosures in the past. We hope our borrower can verify income. We hope that our borrower did not decide yesterday to buy a new car and throw debt ratios to the wind. We hope for a lot of things that we can’t talk to the borrower about and simply hope that the buyer’s agent or lender will do that for us.
As a Sacramento listing agent, I don’t engage with borrowers. But when they can’t perform or escrows are delayed, I’m the woman with the big red bullseye on her forehead. That’s commonplace; it comes with the job.
Of course, one of the ways that listing agents can help to ensure a transaction will close is to talk with the mortgage lender upfront and voice concerns. But it still doesn’t guarantee that the borrower can get the loan. When I’m looking through a purchase contract, I’m on the hunt for red flags — things that could mess up the loan — and I try to get them removed prior to sending the contract to the mortgage lender. I try to imagine what can delay the escrow from closing and handle it.
I was a little astonished yesterday when the title company said a seller did not want to sign a grant deed prior to docs. The seller lives out of town. We need same-day turnaround to close on time. So, if I’m not getting it from one end of the transaction, it comes from the other. Doesn’t stop me from trying to employ a preemptive strategy for Sacramento real estate. That’s one of the secrets to my success. Figure out what could go wrong and try to prevent it from happening.
Call Elizabeth Weintraub, Broker #00697006, at 916.233.6759.
In Defense of Multiple Offers from Sacramento Home Buyers
The biscuit recipe for Sacramento home buyers that is guaranteed to drive multiple offers in the Sacramento real estate market goes like this: add 2 cups of a highly desirable home in the right location, perfect condition and priced well, toss in a pinch of salt representing all of the other homes for sale in that particular neighborhood (none), stir in 2 teaspoons of pending sales, cut in a stick of low interest rates and blend well with a cup of eager Sacramento home buyers. Drop on to a Sunday open house and bake at 400 degrees for 15 minutes — within 2 hours they’ll be history.
Our Sacramento real estate market reflects low inventory, low interest rates and a high demand from buyers. Sacramento home buyers, who often say things like: I don’t want to be involved in a multiple offer situation. It makes me wonder what they mean. Do they want to buy a home that nobody else wants? Some ugly dog that is overpriced and under-loved? Is that it? Because there are some of those homes for sale in Sacramento, and nobody is trying to buy those homes. The field is wide open for that kind of home. No competition for that stuff.
Don’t they want to be the winning bidder for a home that everybody drooled over but only they were smart enough and lucky enough to win? One thing is for certain when a home buyer goes into contract in these situations: when the time comes to sell that home down the road — maybe not next year, maybe not in 10 years, but eventually when that buyer turns into a seller — that same intense interest from buyers will still exist. The home will hold its appeal. Your hair might start to turn gray by then and your body might run off southbound, but that home will still be alluring, even after the Sacramento real estate market cools.
That extra $5,000 or whatever a multiple-offer might cost, can be the difference between owning a home or not owning a home. Think how less important that will seem 5 years, 10 years from now. Sure, your emotional conscience might be fighting a losing battle by telling you not to pay more than list price, but what if the list price is low to start with? Listen to your logical, rational side. What do the comparable sales reflect? Because remember, the home will most likely still need to appraise. It matters less what the list price is and matters more the value of the home.
And let’s not forget about appreciation. Home prices are on an upward swing right now.
I also wonder if “I don’t want to be involved in multiple offers” means the buyers intend to lowball the sales price and realize they can’t possibly win with that strategy when other buyers are offering more than list price. Of course, if that’s the case, they are not buying a highly desirable home in the Sacramento real estate market this spring.
I’ve heard agents say they think sellers are greedy when multiple offers occur. As though somehow it is the seller’s fault for maintaining such a beautiful home in pristine condition. It’s not the sellers who are driving the marketplace; it’s the buyers. Buyers establish final value. My advice is don’t worry about what everybody else is doing. Focus on yourself. Write your best purchase offer and call it a day. Don’t wander about wondering “what if” . . .
Just Because You Called Me By Mistake Doesn’t Mean We Will Work Together
Just because you called me by mistake doesn’t mean we will work together, but then again, we might work together. Sure, every so often, we, as real estate agents, have the distinct non-pleasure of engaging in a phone conversation with a person of dubious nature. But, for the most part, that sort of thing is rare. My niece is convinced that she can’t go into real estate because it would mean having to work with people she can’t stand. She steadfastly refuses to compromise her ethics in that manner. For the life of me, I don’t know where she gets that sentiment. I don’t mean that in a joking manner. I can’t seem to get her to understand the profession is filled with wonderful people. It’s a sheer delight to work with my clients in Sacramento.
Sure, every so often we as real estate agents have the distinct non-pleasure of engaging in a phone conversation with a person of dubious nature. For the most part, that sort of thing is rare. Just because you called me by mistake doesn’t mean we will work together, but then again we might work together.
It’s even rarer to be in a transaction or otherwise working with an obnoxious or rude or, worse, crazy person. OK, it happens from time to time, but not often enough to paint everybody in our path with such a broad brush. And when it does, well, it makes for great humor, is the way I look at it.
You can read more about this type of situation in my personal blog today at this link: https://www.elizabethweintraub.com/a-blessing-in-disguise-is-rarely-a-mistake/
If you are looking for a Realtor to discuss your real goals or just want to discuss a real estate topic, please call Weintraub & Wallace Realtors. We can be reached at (916)-233-6759. Elizabeth Weintraub, Broker 00697006, and JaCi Wallace with RE/MAX Gold 00773532.
How Noise Can Affect the Value of Your Home in Sacramento
How noise can affect the value of your home in Sacramento. Maybe noise doesn’t affect values on the Big Island of Hawaii as it is fairly quiet, no matter where you are. Of course, you could say the same thing about the middle of Petersburg, Alaska, too, just a lot chillier.
Many home buyers pay attention to noise pollution when buying a home. Elizabeth turned down several locations in East Sacramento and opted for buying a home in Land Park because there is less noise. But sometimes people become accustomed to the hum of traffic after a while, and it doesn’t bother them until it comes time to sell. Then, the noise factor can become an issue. Unless, maybe, you’re selling to 12% of the population who have a hearing loss.
Read more in our personal blog today about Pay Attention to Noise When Buying a Home in Sacramento.
If you are looking for a quiet location because you agree that noise can affect the value of your home in Sacramento, give us a call. Or perhaps you like the busy hustle of the downtown area? We can be reached at 916-233-6759. JaCi Wallace is with RE/MAX Gold DRE# 00773532. Elizabeth Weintraub DRE# 00697006 is an independent broker, combined we are Weintraub & Wallace Realtors. Call us or email us at elizabeth@elizabethweintraub.com
- JaCi M. Wallace
THE BEST TIME TO SELL YOUR HOME IS COMING SOON!
The best time to sell your home is coming soon! This blog was written by our preferred lender, Dan Tharp with Guild Mortage. Enjoy~~JaCi Wallace.
When I started in this business almost 20 years ago, my ego sometimes got the best of me; I thought I knew it all and could foresee when rates would go up or down and how these changes would affect the housing market. I learned very quickly that I do not possess this superpower. I promptly changed my tune – my job is to guide my clients with the safest and most secure loan choices possible and let the historical data help build some consensus to formulate a plan or strategy to buy or sell.
With that said, it’s interesting to see what market professionals are saying is the best time to sell your home. If you have been on the fence waiting for the right time to sell, you might want to look at the data. According to Realtor. com®’s fourth annual Best Time To Sell report, the ideal time to list your home in Sacramento is the week of April 17. Because it possibly has the perfect balance of housing market conditions that favor home sellers, more so than any other week in the year.
Also, Money.com listed Elk Grove #4 on their list of best places in the country to sell a home in 2022. According to Realtor.com’s chief economist Danielle Hale, “Sellers listing in mid-April can expect to find relatively high buyer interest, coupled with limited competition from other sellers, that equates to fast-selling homes at top dollar,” she said in a recent news release. But, of course, market conditions are variable and not always the same for everyone, and the best time to list your home can change quickly.
If you think it’s time, here are three things you should do first:
#1) Find an experienced lender to secure financing to know your options and what you qualify for if you are thinking of buying a new home after you sell. It’s not just about getting a great interest rate; it’s also about working with a lender who will take the time to be sure you are in the right loan for your situation.
#2) Find a great Realtor to work with to list your home and possibly help you find another. I know some of the best in the business and would love to introduce you to one or two that work in your area.
#3) Layout your Game Plan with your agent and your lender. Once you have settled on your agent and lending team, it is best to be open with your budget, dream neighborhood, and comfort level regarding the monthly payment and cash needed to close. This will help your team implement a strategy that will put you in the best position to win.
If you want to sell your home closing soon Please call Weintraub and Wallace Realtors. JaCi Wallace is with RE/MAX GOLD. Elizabeth Weintraub is and independent broker. We can be reached at 916-233-6759.
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~~ Dan Tharp – Branch Manager Guild Mortgage 916-257-1470 NMLS# 280913 | Company NMLS # 3274 |
