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This Elk Grove Agent Sold a Home $40K Over Comparable Sales
Rumor has it that this seller’s market in Sacramento started this spring, but from my perspective, it began last fall with the September market. We have two very strong markets in Sacramento: Spring and Fall. If you can’t make the spring market, sometimes it is better to wait until fall. Although, in this seller’s market, anytime seems to be a good time to go on the market because all the guidelines and rules and everything you know about real estate have been tossed out the window.
For example, we have been taught since day one to examine the comparable sales when pricing a home. But the comparable sales mean jack squat today, which is why appraisers are having such a tough time trying to appraise. Sales from 3 months ago are not relevant to the market today. It’s the pending sales and the active sales that are predicting which way the wind is gonna blow in this marketplace. That, and a little bit of fairy dust mixed in.
When a seller called me last winter to list her home in Elk Grove, she was concerned that it might not sell right away because it was so close to Christmas. She didn’t live in the home, so it wasn’t upsetting HER Christmas, so it made perfect sense to put it on the market. I looked at the comparable sales and with my then-innocent eyes said: “Oh, look, they substantiate a price of $240,000. Tops. The market movement will let us stick $20K on top and we should do it to see what happens!” The seller liked that strategy. $20K over the pendings was a little risky. We put her home on the market for $259,000.
I did my usual marketing. Promoting that home everywhere that is conceivable online. Shot impeccable photos. Networked the listing like crazy. Within a week, we received an offer that the seller accepted for $275,000! But a few days later, the buyers developed cold feet and canceled. Buyers are a little wobbily right now, I’m finding. This isn’t the first buyer to cancel on one of my sellers due to cold feet or due to writing multiple offers, which is unethical if not against the law.
You will hear agents say that the first offer is always the best. That’s another widely accepted real estate axiom that doesn’t necessarily apply to our present market. The following day, the day before Christmas, we received a second offer of $290,000. It involved financing. The buyers, upon hearing their offer was about to be accepted, changed it in haste to all-cash at $280,000. See what I mean about buyers being a bit unsteady? But $280,000 and all-cash was still better than the first financed offer of $275K.
This Elk Grove home closed in January at $280,000, all cash.
The seller told me when we closed that she was very happy she chose me as her Elk Grove Agent. Even though I don’t live in Elk Grove, I sell a lot of homes in Elk Grove, and I know the Elk Grove neighborhoods very well. Because I am a top producer in Elk Grove, I routinely pop up on those lists from outside referral companies. They look for agents who sell the most homes in any given area, so they have something of value to offer to their sellers.
Well, you can get something of value by calling me directly: Elizabeth Weintraub, 916 233 6759. You can trust that I’ll always give you the straight scoop and put your interests first.
Three New Home Listings in Sacramento Area
Just before Easter, I’ve got a bunch of new home listings in Sacramento coming on the market. One home that I listed over the weekend in Lighthouse Marina is in the process of getting preapproved by Bank of America for a Cooperative Short Sale. Yet, all of the other 3 home listings are available immediately. Not one is a short sale. This is the future of real estate in Sacramento; I’m telling ya. Very few short sales. Many more equity listings. I don’t care what anybody says — if he or she disagrees — because this Sacramento real estate agent sees the writing on the wall. Stats will prove me right later. You can betcha.
My first new listing is an updated Craftsman bungalow in the Med Center for $225,000. Beautiful front porch where you can sit and watch people. Close to restaurants and UC Davis and all of the action. This is an exciting opportunity to own a home for less than rent. Yes, it’s true, there is no garage and parking is restricted, but it’s a gorgeous 1928 Craftsman at an affordable price that takes limited parking into account. So hurry!
Another new listing is a tri-level home in Roseville. If you have a need for four bedrooms, this is your home! On top of that, it features 3 full baths. The tri-level is really a 2214 square-foot two-story with a step-down family room overlooking a park-like yard with a raised and covered deck for outdoor entertaining. It has vaults, a stone fireplace and an open kitchen with tiled counters. All for the astounding price of $395,000.
Next, we have a popular single-story near Machado Dairy Park in Elk Grove. This is a corner home overlooking a cul-de-sac with 1870 square feet and 4 bedrooms. It is situated on Pedra Do Sol Way, where I have another listing presently in escrow. This streets winds around off the main drag and is south of Whitelock, which makes it even more attractive to first-time home buyers. The exotic wood floors are so bright it hurts the eyes to look at them. Sunlight floods this home. Priced right at $285,000.
Who says there are no new listings in Sacramento? Here are 3 that are new to the market today. No waiting for bank approval. All owned by sellers with equity. Fast closing possible. Interest rates are still under 4%. What are you waiting for? This is the best opportunity you’ve had in years to buy a home. Get moving. Call me for a private showing. Elizabeth Weintraub, 916 233 6759.
