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Coming Soon Listings From Sacramento and Elk Grove to Lincoln
Coming soon listings are no longer allowed by MetroList in Sacramento without a waiver.
Many Sacramento Realtors do not know we are prohibited from marketing Coming Soon listings that are in off-market status in MLS. We can’t do it (unless we get a waiver signed, which I see no advantage to). That means no signs with Coming Soon on the property, no blogs about it, no posting homes in Zillow or Facebook as Coming Soon listings. And then there are the agents who do know but don’t care. I’m not any of those agents. However, I do have Coming Soon listings from Sacramento to Lincoln that are not yet in MLS, which I bet you’d love to hear about.
Am I right? Would you like to know about Coming Soon listings that are not yet listed but will be soon? You can get on the list of my buyer’s agents or you can contact your own agent and ask your agent to contact me. It doesn’t really mean your offer will receive priority because I have a fiduciary to my sellers, but at least you won’t miss the home when it hits the market. In today’s real estate market, you’ve gotta be Johnny-on-the-spot to snag a house. We have very few homes for sale and a million more buyers than houses. (For you fact checkers, a “million more” is not a literal term.)
Coming Soon Listing Lincoln
Heading the top of the list price-wise is a place in the gated community of Verdera Village, known for its majestic golfcourse homes in Lincoln. Huge square footage, over 5,000. Mind-blowing panoramic views. Explosive sunrises / sunsets. Infinity pool. More bedrooms than any person can probably use except for Octomom. A short sale in the low 900s. Available May 12th.
Coming Soon Listings Curtis Park
Two homes in Curtis Park are coming soon. Both are vintage homes exploding with character. Three to four bedrooms and two baths. Hardwood floors. Two stories each. Updated kitchens and baths. Fairy tale master suites. Hard-to-find garages. Low 700s to high 600s, depending on square footage. Available by Memorial Day.
Coming Soon Listing Elk Grove
Looking for homes in Elk Grove? This is a beautiful single-level K Hovnanian homes situated on a cul-de-sac with almost 1/3 of an acre! Lots of fruit trees and flowers, with a large covered playhouse or hobby room. The home was originally built as a four bedroom but the sellers decided they wanted a formal dining room. So the builder converted a bedroom by opening a wall and turning the closet area into a built-in buffet. Many upgrades throughout. Low 400s. Available May 12th.
Coming Soon Listing Del Paso Manor
The original owners have remodeled this home with love and devotion. All new kitchen featuring subway backsplash and ceramic floors, plus new cabinetry with granite counters. New stainless appliances. Contemporary light fixtures. Refinished hardwood floors. Almost double-size lot, three bedrooms. Low 300s. Available May 17th.
As to why our MetroList doesn’t allow marketing of Coming Soon Listings, I’m not sure, but I suspect it’s because some unethical agents try to capture direct buyer leads and lock out the competition to do dual representation. A few bad apples ruins it for the rest of us. I am a seller’s agent and I do not work with buyers. I don’t have a vested interest in which agent sells our listings, whether it’s an agent on my team, an agent at another company or an agent from the Bay Area. Just as long as it sells and my seller is ecstatic.
Like I said, if you’d like to get on our list of Coming Soon Listings and are unrepresented, call me and I’ll match you with a team member, or call your own buyer’s agent and ask your agent to contact me. Elizabeth Weintraub, Top 3 Listing Agents, Lyon Real Estate, 916.233.6759.
Short Sale Buyers Closed on Antelope Home With Free Equity
Happy short sale buyers are even happier after closing on a home in Antelope.
The short sale buyers who purchased my seller’s home in Antelope really lucked out on a terrific deal in several ways. As the top Sacramento short sale agent, of course I represented the sellers. The buyers were represented by someone else. We went on the market at the end of March, yet it took us 3 weeks to get an offer for this short sale. Even in a limited inventory market, there were still other homes in Antelope to buy that could close right away, so many buyers passed by this gem. Few want to look at short sales when there is an abundance of regular homes for sale.
Sitting quietly by itself in Antelope Trails among many grander and larger homes, this home seemed larger than it is. And it is larger. The strange thing about this home’s square footage actually affects many other homes in newer subdivisions. Not just in Antelope, mind you, but I have encountered this particular situation in homes in West Sacramento, homes in Lincoln, including homes in Elk Grove. The square footage can often be published incorrectly in the public records because builders made final changes to the floor plans without updating their own records.
This happens because maybe a builder offered a design plan that included a three-car garage but the buyers chose a two-car garage so they could utilize the extra interior space for an office. Or the plan called for soaring cathedral ceilings, and the buyers chose a master-suite retreat option that enclosed some of that space. Enclosing space on the second floor can also add square footage to a home. It’s an inexpensive option.
You might think: what is 300 square feet? These short sale buyers will find out when it comes time to sell. A simple way to figure the square footage benefit is if certain homes in Antelope, say, sell at $160 a square foot, an additional 300 square feet could mean another $48,000 in equity. The short sale buyers didn’t think about that when they trespassed on this property, poking around, peeking in the windows and then claiming the sellers had removed fixtures. You hear a lot of horror stories about short sales, but like I informed their agent, I don’t work with sellers like that. My sellers clean up their homes the best they can and are responsible people.
The short sale buyers who bought this home gained an extra 300 square feet or so on top of receiving a slight discount on price due to the waiting period. Free equity. With two loans, it can take 90 days to get short sale approval. These buyers also had a home to sell, but since most banks will not accept a contingent offer, I suggested that the buyers keep the sale of their existing home, if at all possible, out of the short sale offer.
Lots of moving parts and trust on both sides go into making short sale buyers close escrow. At least these guys didn’t mess up their credit report while they waited, like other short sale buyers I won’t mention.
The Difference Between a Challenge and a PITA for a Sacramento REALTOR
There is a big difference between a challenge and a pain-in-the-ass (PITA) when it comes to Sacramento real estate for a REALTOR. A challenge presents obstacles that beg to be overcome and resolved, whereas a PITA just gets worse and nothing will fix those problems. It’s sometimes difficult to figure out which is which when they first appear in front of me. I like to try to help every buyer and seller who contact this Sacramento REALTOR. But when I start to question why-oh-why am I working on a house, that’s a definite clue that I should not.
I am not afraid of hard work. I don’t care how complicated a situation presents, I am confident that I will find a way to make it work out. It’s why I am successful. In fact, it’s how I sell hundreds of homes. It’s how, for example, that since 2006 I’ve sold more short sales than any other agent in town. So many agents would not touch those houses with a 10-feet pole. But not this agent. I welcome challenges. It’s how I turned into an exceptional Sacramento REALTOR.
If you have a difficult to home to sell, I’m your agent. I’ll do it. I gain deep satisfaction by successfully closing the seemingly impossible. By the same token, I welcome the easy-to-sell homes and I do a bang-up job selling homes in Land Park, East Sacramento and Elk Grove, all the way in some cases to Lincoln. The really nice homes in Sacramento owned by trouble-free sellers balances out the problematic sales. I take the good with the bad.
So, when a seller called, wiping away tears through our discussion about selling a certain home in Elk Grove, I decided to help her. Yes, I can be a sucker for a sob story. I sometimes feel as though if I don’t do it, who will? Many agents don’t like problems and they won’t work on situations fraught with difficulties. She faces an extremely complicated situation, made ten-fold by a super hard-to-sell property. Whatever pushed her to the edge meant she had to take action, pronto. I stopped what I was doing and jumped on this for her. Took copious notes. Shot photos. Inspected. Qualified. Put together a game plan, gathered required documents.
This went on for a two-week period. Finally, we were ready to go on the market. No more frantic text messages. No more interpreters. We were set. This seller’s 3-year battle was about to come to an end. Then, the seller emailed to say the timing wasn’t quite right. Maybe some other time? I guess there is a reason this has been going on for three years. It has nothing to do with me. It will never get resolved through a real estate agent. That nagging thought about why was I doing this vanished, because I’m not doing it. Not now, not ever.
It’s not a challenge. It’s a PITA. In those situations, a Sacramento REALTOR has to say no.
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.
Pricing a Home in Sacramento Ahead of the Curve
Pricing a home in Sacramento ahead of the curve is the strategy a few select Sacramento real estate agents are offering to today’s sellers. It means pricing a home where you think the market is heading and not where the market is now. This strategy doesn’t work so well if the home is difficult to sell or is unique. It works well in areas of high demand where buyers are lined up the minute a home goes on the market — in places like Natomas, Elk Grove and Lincoln.
In Elk Grove today, you can pretty much walk the line of buyers with an order pad and pen, asking each what they will pay for this home in Elk Grove advertised at $185,000. Guy first in line might say $200,000. Tear off a ticket and write $200,000 on it. Woman behind him will smirk and promise she’ll pay $220,000. Tear off a ticket and write $225,000 on it. Couple behind both of them will trump those offers and, my goodness, they’ll pay $250,000. And so it goes. Throw your pad and pen in the air. Nobody has any regard as to whether the home will appraise when push comes to shove. They’re just thinking about their mortgage payment.
Why? Because every $10,000 increment at 3.5% interest equates to an additional $45 per month. If the home would appraise, a buyer could increase an offer by $50,000 and pay only an additional $225, less than, say, an HOA fee. Buyers don’t know how real estate works. They don’t understand that an appraiser will need to find solid comparable sales to justify a price that is $50,000 higher than any other home near it. And if they do understand, they are hoping that when the appraisal comes in less, the seller will lower her price.
A price ahead of the curve might be $225,000. Because in 30 to 45 days, there might be comparable sales at that price. Of course, you won’t get a ton of buyers. You probably won’t get multiple offers. None of that excitement. But you might get 2 offers, and one of those will be an offer you can take. All you need is that one offer from one committed and qualified buyer at a price that will close escrow. If you need more information on pricing a home in Sacramento, call Elizabeth Weintraub at 916.233.6759.
