Email Elizabethhomes in elk grove
When One Thing is Not Like the Other Things
A Sacramento real estate agent needs to possess extraordinary powers of observation, just like a journalist. My late father-in-law, a former Chicago Sun Times journalist, would often boast to strangers (and his family) that he was a “proFESSional obSERVer,” which was generally used in a conversation to support dissent, to build a case for his opposing point of view. Half-jest but half-serious, too.
Sometimes, an agent can tap a simple component in the power of observation by isolating and analyzing the one odd thing that stands out from the others. This happens when one thing is not like the other things. Let’s take a situation when sellers receive multiple offers from buyers for, say, single-level homes in Elk Grove. Even better if a single-level Elk Grove home is located on a cul-de-sac, with hardwood floors throughout and a 3-car garage. Then, in the middle of dozens of offers arrives a lone cash offer for significantly more money. Sort of stands out like a sore thumb. Like when one thing is not like the other things.
That offer would be the one thing that is not like the other things. A seller might want to grab that offer and latch on to it like Gollum stroking his precious ring. This is the part in which a Sacramento real estate agent might caution the seller, and make sure the seller understands the possible consequences. When one thing is not like the other things, something might be wrong.
For example, I wandered through my vegetable garden a few days ago, on a hunt for ripened serrano peppers. Because it’s October, the garden is overgrown; oddly enough, we have tiny little tomatillos that are no bigger than an olive. For some reason, the tomatillos are fairing poorly this year; their entangled vines are crawling up the sides of another garden box, blocking the path. My focus was on the tomatillos, wondering whether my husband is right and we should yank them out.
As I passed the hydrangeas, something caught my eye. Among the decaying purple and pink flowers, I spotted a peculiar object. Whoa. It was not like the others. It was a cucumber. That stopped me in my tracks. A cucumber does not belong there. This is one thing that is not like the other things. The cucumber had crept over on a vine and worked its way up the hydrangea branch. Just the right size, too. I plucked it and ate it on the spot.
That is an example of when it’s a good thing that one thing is not like the other things. Sometimes, though, when one thing is not like the other things, it can be a bad thing.
Take the cash buyer who offered way above everybody else for that home in Elk Grove. The cash buyer caused the sellers unnecessary stress and commotion throughout the entire transaction. Demanded kickbacks, insisted the seller pay for an inspection that the buyer ordered himself and made up his own rules as he went along. The buyer reneged on verbal assurances and in general made himself a royal pain to the seller. At closing, he made his buyer’s agent wait four hours at the home, in an empty house, to deliver the keys.
Selling a Home in Sacramento and Offer Negotiation
A seller who is selling a home in Sacramento should not have to wonder if the buyers who just wrote an offer on her home really want to buy the house. I mean, what if I told you that I am willing to sell you a Ferrari for $10,000, but you say the sale is subject to your ability to find the money buried in a barrel Breaking Bad style out in the desert somewhere? Oh, and on top of that, at anytime, you can decide to renegotiate the price with me or ask me, if you like, to throw in, say, a year’s supply of gas and car washes for you. You’d probably think you hit pay dirt.
This is exactly what buying a home in Sacramento is like for some home buyers. The market is super hot for sellers of well-priced homes. Doesn’t matter if that home is located in Elk Grove or East Sacramento or Lincoln; if it’s priced right, the seller will probably quickly receive a full-price offer, if not multiple offers. On the other side, buyers don’t like to compete with multiple offers. It’s just a mindset though. Because buyers are competing the minute they step foot inside a home for sale where another buyer has recently been.
Lately, I’ve been encountering buyers who must think they are clever. Their idea is to lock down the home immediately by promising the seller everything the seller is asking for and, after a few weeks have passed and all of the other buyers have gone away, then they will ask for a price reduction or a credit. I sell more homes than most agents, and I see this tactic used over and over. It’s not enough to elicit a promise from the buyer that a home is sold AS IS because some buyers conveniently forget about that promise.
In one situation, I reminded the seller that the buyer might not know any better. The buyer might be getting pushed by relatives or friends who say that even though the buyer promised to not ask for a repair, the buyer should demand a new HVAC installation. Because you never know. Sometimes, sellers cave. I don’t like to see buyers and sellers at each other’s throats when there is no reason for it.
However, the seller pointed out that this was no first-time home buyer who was buying his home in Roseville. Nope, this was a retired guy over the age of 65. The seller said the buyer knew exactly what he was doing. Maybe. Age is really no guarantee, but the seller could be right.
This Sacramento real estate agent sometimes advises her sellers to issue a counter offer when an offer comes in at full price, quickly and with a shortened time frame for acceptance. The counter is not about price. It’s about performance.
If the buyer blows a fuse because the seller insists upfront upon no renegotiations down the road, well, what does that tell you? Buyers always have the right to cancel within the contract default period of 17 days for any reason — but once a buyer commits to buy a home, the negotiations should really be pretty much over. Particularly in today’s real estate climate. There is nothing wrong with pointing out to a buyer that AS IS in the residential purchase contract means AS IS. It doesn’t mean maybe.
You can shake hands all you want, but a pen to paper is always better. If you’re thinking about selling your home in the Sacramento metro area, call Elizabeth Weintraub at 916 233 6759. Put 40 years of experience to work for you.
Timing the Sacramento Real Estate Market
A seller in Elk Grove just pocketed an additional $75,000, due to timing the Sacramento real estate market. It’s not that I recommend trying to time the market, because it’s almost impossible to do. But you can get lucky. It’s a roll of the dice. Just look at Donald Trump — oh, my poor eyes — because he doesn’t always accurately predict much of anything.
We put this home in Elk Grove on the market in the spring of 2012. I sell an awful lot of homes in this particular part of Elk Grove. This home is located in the highly desirable area of the Machado Dairy subdivision over by Bruceville and Bilby, close to Machado Dairy Park. Buyers like this neighborhood for the schools; the homes are somewhat newer with mature trees. It’s bordered by farm land, which makes you feel like you’re out in the country with all of this open space.
There are so many upgrades in this home. People wonder why a home next door with the same square footage sells for so much less, and it’s upgrades. Ask a short sale seller about upgrades. They will tell you about the cost of every single upgrade down to the penny. But this home was not a short sale, it was a regular equity sale. When we came on the market, many of the homes around it were short sales but even so, we sold at the highest price possible — at a price that barely squeaked through an appraisal because there were no comps in that immediate neighborhood.
The buyer could not close. She could not close because she could not get her tax returns verified because she filed her taxes late. The government was running behind. When the buyer’s escrow extension expired, the sellers canceled the transaction and decided to wait. That was a smart move.
Now, a year later, because the market had gone up, I wrote to the sellers to suggest that they sell their home in Elk Grove at this time. Still, there were almost no comparable sales to justify her sales price, but we sold at the top of the market. The sellers made an additional $75,000 by timing the sale.
About Selling Homes in Elk Grove
There are some things I know about that I do not care to know such as Simon Cowell got his best friend’s wife pregnant and why Aretha Franklin, the beloved godmother of soul, doesn’t quite trust modern medicine, but there are other things I know that carry significance, especially about Sacramento real estate and selling homes in Elk Grove. Now, having an almost 40-year career in real estate, I can tell you that it’s very common for clients to have a different idea of what an agent should do to market their home than what an agent believes is the best course of action.
That’s OK, because I go with the flow. I want happy clients. I want more referrals coming to this Sacramento real estate agent, and unhappy clients generally don’t give referrals. It is the referrals and 5-star reviews that keep the doors to my business open. When I’m selling homes in Elk Grove, I want those Elk Grove sellers ecstatic!
But yesterday I elected to make an exception. A seller asked if I would put a box of fliers on the post outside of her home in Elk Grove. I could do it but it would be pointless. It was good that I took the time to explain my reasoning because the seller agreed. Here are few reasons why it’s not a very good idea to put out flyers when selling homes in Elk Grove:
- The home in Elk Grove is located on a cul-de-sac off a quiet street so walk-by traffic is unlikely.
- We want potential buyers to call us. That’s why my Elk Grove office phone number is front and center on the gigantic For Sale sign, followed by a rider with my cellphone number, and another rider with the cellphone number for an Elizabeth Weintraub team member.
- Kids often swipe flyers.
- My Virtual Agent system attached to the for sale sign gives potential buyers many opportunities to get information. They don’t even have to call an agent or talk to an agent. By calling an 800#, all data is sent as a virtual tour to their cellphones. They can text a code, just like American Idol, and all data is sent as a virtual tour to their cellphones. Or, they can take a picture of the QR code with their cellphone and all data is sent automatically to their cellphone.
- But probably an unexpected reason is the home will be sold by the time we get out there with a box of flyers.
If you’re thinking about selling a home in Elk Grove, call an experienced Elk Grove agent, Elizabeth Weintraub, at 916 233 6759. The Elizabeth Weintraub Team was just named by Real Trends as one of the top 25 best real estate teams in California.
Selling Homes in Sacramento is Like Herding Cats
Working in real estate and selling homes in Sacramento is somewhat like herding cats. Just for the record, I don’t run a cat ranch or anything, but there are 3 cats who live in my home in Land Park, so I know a little something about herding cats. Cats will do whatever they want to do. They are somewhat predictable, but there are times a cat will completely freak you out, and the Sacramento real estate market is a good comparison. Just when you think that cat is headed for the litter box, it will abruptly stop and throw up on your feet.
I always look for trends because, as a Sacramento real estate agent, it helps me to properly advise clients. You know, just because buyers were wild and crazy last spring doesn’t mean that activity carries through to August. August is typically a slowing down month. A time for families to finish vacation plans, shop for back-to-school clothes, and prepare homes for winter which, in Sacramento, means closing the garage door.
I’m looking forward to the Sacramento Autumn Home Selling Market. It’s generally spectacular every year, and it shouldn’t be any different for 2013. About a week after Labor Day, the flood gates will open. That’s my prediction. But getting into escrow and closing are two distinct things. Any monkey can get into escrow. Closing is another story.
There are signs of increased listing activity right now. Sellers are calling and asking about selling homes in Sacramento. From just yesterday, I have 3 new listings in Elk Grove on the horizon, a home in Roseville will hit the market today, and I’m meeting with another seller in Citrus Heights this weekend.
Buyers, on the other hand, are a bit slower to submit offers now. They are spending more time thinking about it. Not every transaction that every agent has in escrow will close. I’m seeing more fallouts from buyers with cold feet, buyers who can’t qualify, buyers who probably should not have been trying to buy a home in the first place. There are also buyers who can’t understand that a rising market means if they’re buying a short sale, that price might be higher after waiting a few months.
What we need are incentives like my cat Pia’s freeze-dried chicken treats that we can throw in front of these guys. We need to continually check in with our buyers and make sure they’re still on board and headed for closing. Remove obstacles from their path. Keep the positive vibe going. Because I tell ya, it’s not easy herding cats when you’re selling homes in Sacramento.
