Email Elizabethselling a sacramento duplex
Sacramento Duplex Sold in Four Days With 10 Offers
2323 Matson Dr, Sacramento, is a Sacramento duplex that was for sale at $265K.
The sellers of a Sacramento duplex were referred to me by a previous client. With the exception of my internet marketing, all my other clients tend to come from referrals, but that’s what happens when a Sacramento Realtor has worked in the business for 40-some years. Veteran agents (who are also top producers) are not out there in the dirt, scratching for business. I thank my lucky stars every day for that.
The sellers are simply delightful people, and I truly enjoyed selling this duplex for them. When we met to discuss price, they thought my suggested listing price was too high. They had done a bit of research and were prepared to sell for much less. See, you can’t get values online. This is one of the main reasons to hire a good Sacramento Realtor who will tell you the truth about your sales price with her finger firmly placed on the pulse of the market. I can often predict the sales price that will attract a buyer. What I can’t always predict is exactly how high the bidding will go, but I can surely set the stage for multiple offers.
The first step in listing a Sacramento duplex is to talk with the tenants, meet them face-to-face and have a conversation. Tenants have fears about their home being sold, and it is my job to extract their cooperation while alleviating those fears, and I accomplished that objective. Next is to position the home attractively among the active listings and begin to push for multiple offers in a non-threatening way.
The one thing this Sacramento Realtor does not do is discourage offers nor tell buyer’s agents offers will be “collected,” as that kind of strategy undermines the effort to obtain maximum value. It often eliminates buyers before they become a potential candidate. Offers can be managed in a more practical manner that do not disclose the seller’s intentions.
This wasn’t a huge sales price, either. But it was important to my sellers that we sell the Sacramento duplex for the highest price possible. Their eyes were pretty big when I told them $265,000 would be a good starting point. By the end, we had 10 offers, and it sold at $275,000, with financing. There were no repairs, no concessions, no credits, no home inspection hassles, either, no work completed.
So, yes, I guess sellers can have the best of both worlds. Highest price and a stress-free transaction. If you’re looking to sell a home in Sacramento, call Elizabeth Weintraub at 916.233.6759. I’d love to manage that sale for you.
Maybe You Should Hang On to That Sacramento Duplex in the Pocket
The beauty of selling hundreds and hundreds of homes in Sacramento is I have direct experience in so many different neighborhoods that I can often picture the home in my mind just by hearing the address. That’s what happened yesterday when a prospective seller called to talk about the real estate market in Sacramento and selling his Sacramento duplex in the Pocket neighborhood. I pay attention to what people say to me, and I heard this guy say he was not in a hurry to sell and he wanted to maximize his profit. He asked for my opinion and I told him it was probably best not to sell right now.
I can hear my company’s managers having a conniption fit at the moment. Other readers are probably spitting coffee at their monitor wondering WTH? Did she go off the deep end? Why would a Sacramento Realtor tell a prospective seller that now is the not the best time to sell when it’s a freakin’ seller’s market with no inventory, low interest rates and high demand?
Because of the seller’s goals and motivation, that’s why. It’s not about me.
There are basically 3 types of people who will buy a small Sacramento duplex in the Pocket: local investors, first-time home buyers or Bay area investors. Of the 3 types, the buyer most likely to pay the most money for a small duplex in our present market is the first-time home buyer. We are witnessing screaming crazy demand for multiple-family homes, whether it’s two houses on a lot or a duplex, for buyers with expanded families.
Local investors watched the market fall and hit rock bottom in 2011. At that time, they were willing to pay more than list price to grab a home. Today, not so much. Today, with rising property values, they want a discount. They want a hedge against falling values as well. Bay area investors will often pay a little bit more, simply because they don’t know the neighborhoods where they buy or they hire an agent from out of area as well. They also tend to compare values to the Bay area, which are absolutely insane, so by comparison Sacramento looks like more reasonable, but they, too, are often too stubborn and reluctant to pay list price. Many investors today try to demand a deal in exchange for a cash offer, so much that when we hear an investor is a “cash buyer” those words cause agents to moan.
This seller’s best bet is to clear out at least one side of the duplex. Get it empty, fix it up, and make a few small upgrades. Make it easy to show. Change the other side to month-to-month from a lease. He won’t get top dollar from an investor even with A-rated tenants. He’ll get the most money from an owner occupant.
I could picture this Sacramento duplex before he gave me the address, and I asked if it was a corner unit that wrapped around facing two different streets, a one-story and, sure enough, it was. I knew the value without even looking it up in MLS to run the comps. Sure, he might lose $2,000 in rent, but he’ll probably gain $20,000 in sales price, and that’s enough to warrant moving the tenants out to show the unit as vacant. It will increase showings, too. And he can’t do that until next spring. So, there you go, now is probably not the optimum time for him to sell.
But it’s not a bad time.
