Club Chaos Agents - All Things Hollish, Wacked, and Jacked

Some people get out of bed in the morning and say they wish they didn't have to go to work. Other people say they wish they had a job. When I wake up, I say, "I'd like nothing better than to list a Wachovia short sale today." Well, yesterday, my wishes were granted.

There is a silver lining in being a Sacramento short sale agent. That bright light is Wachovia. This is a bank that has its short sale department primed and ready to process the transaction. Unlike some short sale banks -- those that lose paperwork, shred files and cause massive delays -- many approvals from Wachovia are issued within 2 to 3 weeks of receipt.

Here is a ground floor opportunity for first-time home buyers in Sacramento. This home is an upper-floor corner unit. It has a balcony that offers an expansive view of the Bella Rose complex; you can see almost everything that goes on from this location. It's a one-bedroom, one-bath condo, with an open floor plan.

The kitchen and bath have granite counters. In the bedroom, the seller has installed a super cool ceiling fan. The refrigerator and washer and dryer stay with the home. It's in impeccable condition, plus this condo comes with 2 parking spaces. Close to shopping, restaurants and the freeways. Minutes to downtown Sacramento.

The HOA dues are $253, which include a flood insurance premium. You have a clubhouse and a pool. But best of all is the price. This 2004 home is for sale at $63,000, although I would not be surprised to see it sell for more. One lender. Wahovia.

4200 East Commerce Way, #122, Sacramento, CA 95834

Offered Exclusively by Lyon Real Estate at $63,000, subject to lender approval.

Elizabeth Weintraub, Sacramento Short Sale Agent, 916.233.6759

Natomas short sale buyers pulled up in front of a home in the Sacramento neighborhood of Natomas Crossing yesterday to do their home inspection. First thing we noticed was a garage sale sign plastered over the listing agent's for sale sign. Another sign was taped to the front door: "All appliances and furniture for sale."

It was bad enough the short sale seller rescheduled the home inspection on the 4th of July. The buyers originally had made an appointment for 9:30 AM so they could finish up before noon and enjoy the rest of the holiday. When I called to confirm, the seller claimed that time was inconvenient and pushed us off until noon. His wife was home during the inspection, too, and the listing agent was out-of-town, taking a holiday.

It would have been nice to have taken this particular Saturday off but that's not always possible when one is a Sacramento short sale agent. We do what it takes to get these short sales closed. Attending a 3-hour home inspection in the middle of the afternoon on the 4th of July is one of those duties. Floating down the Sacramento River in an inner tube is not one of those duties.

The next thing I noticed upon entering the home was the chandelier over the dining area had been removed, plus two light pendants in the family room were gone. I found them on the floor in a spare bedroom near boxes stuffed with cartons of cigarettes.

Enterprising folks, these sellers. Wholesaling cigarettes and birds. In the back yard was a large aviary occupied by more than a 100 tweeting canaries and finches.

The seller's wife appeared stunned after our chat. I explained that they can't remove a fixture. Fixtures stay with the home. Although such a discussion is ordinarily best left to the listing agent, I was concerned that if I didn't say something to her then, she might also sell the front door over the weekend.

The buyers made an offer to buy the refrigerator, washer and dryer for $500. Oh, no, the seller replied, those appliances cost $2,200 when purchased 3 years ago. The seller wanted $1,500. It was clear the seller was clueless, which worried me a little, so I asked if she was aware that we're closing escrow in 10 days.

Mrs. Seller just smiled and said, "I guess the buyers will be moving in next month, then?" Um, no, they will be moving in on the day we close, in the middle of July. Her smile vanished.

Gosh, I hope they don't try to sell the stove and dishwasher.

Elizabeth Weintraub is an author, homebuying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout Sacramento. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you.

The Short Sale Savior, by Elizabeth Weintraub, available in bookstores everywhere and at Amazon.com.

Sacramento Short Sale Agent, Elizabeth Weintraub, has the answers to your Sacramento short sale questions.

Photo: Big Stock Photo

A fortunate aspect of listing so many short sales in Sacramento is the fact that I get to see how other agents write offers on short sales. Some of my short listings each receive 10 to 12 offers. I try to help buyers' agents when they call by explaining that they need to check the comparable sales before writing an offer and base their offer on the comps.

One agent said to me yesterday, "What are comps?" Another sent an offer with one price at the top, a different price at the bottom and no loan information in between. Almost all contained requests for pest completions, home warranties and other demands that most banks won't pay.

Well, last weekend I showed homes in Natomas to first-time home buyers, and we wrote an offer. I share the following listing agent's response with you, not to boast but to show you why you want to hire an experienced short sale agent when writing offers on short sales:

"Hi Elizabeth: We had a multiple offer situation and I'm happy to tell you that your buyer's offer was chosen. The seller should be sending it back to me signed within the next hour or two and I'd forward the executed contract to you. All 7 offers were over the list price, but the seller chose yours mainly because you have experience with short sales and have educated your buyer.

Also, you wrote the cleanest contract and the only one that did not require a counter offer."

The people I feel for are those other 6 buyers who now join the ranks of hundreds of other unhappy and rejected Sacramento buyers.

The Short Sale Savior, by Elizabeth Weintraub, coming May 15th.

Photo: Big Stock Photo

The sellers say they live on the best block on Riverwalk and their neighbors are wonderful. I haven't met any of the neighbors, so I can't personally attest to their wonderfulness, but the home has plenty of curb appeal. It is situated on a corner, which probably makes the home feel larger than it is, plus it gives the impression inside that there are no neighbors.

Because it was a former model home, it has tons of upgrades, which give it that special oomph. If that wasn't enough, the sellers also added a few touches such as replacing many of the light fixtures with newer brushed nickel lighting, removing wallpaper and painting with designer earth-tone colors, and installing synthetic stone floors in the baths. Some of the upgrades are:

• Wood flooring in most rooms
• Plantation shutters
  
• Crown molding
• Tiled kitchen counters and an island
• Ceiling fans
• Built-in china cabinet
• Built-in bookcases in the dining room
• Built-in cabinetry in the hallway
• Wainscoting in several rooms

The home sits across the street from a park, with an elementary school nearby, and it's also close to a junior high. The back yard is fenced and sports an uncovered patio, punctuated by a partial pergola, two big redwood trees, a crepe myrtle and a lush green lawn.

It has 2 big bedrooms and a third bedroom which has been converted to a den / home office. The den has a recessed area perfect for a desk. There is a fireplace in the living room. Upon entering, you will immediately appreciate the open floor plan, which employs a great room concept. A knee wall separates the formal dining room from the kitchen, and a cutout on the opposing wall allows a view of the entry and living room.

In addition to the formal dining room, the kitchen has a breakfast bar plus a breakfast nook. There is a walk-in pantry in the kitchen, plenty of cabinets and an island, gas range and oven, plus a built-in microwave.

3161 Two Rivers, Sacramento, CA 95833

Offered at $185,000, subject to third party approval.

Available for showings on April 27th

Elizabeth Weintraub, 916.233.6759

Lyon Real Estate

The Short Sale Savior, by Elizabeth Weintraub, May 15 release date

Photos: Elizabeth Weintraub

Here is a 2007 Beazer home in Natomas, which has four 4 bedrooms, a loft that includes a built-in desk with overhead maple cabinets, three baths, all for $184,500. There is nothing like this on the market in Natomas. Beautiful cherry wood floors in the kitchen and entry way. Ceramic counters in the kitchen, plus a breakfast bar, Kohler sink, and GE appliances. The kitchen is open to the family room.

Family room shares space with the dining room and it has soaring ceilings. You can look down on the family room from the second-floor hallway and loft. Upstairs' laundry hook-ups and maple cabinets.

One bedroom is down, three are up. The master bath has silestone counters on the vanity, double sinks, silestone around the tub and separate shower. Huge walk-in closet with three lights.

This home sits across the street from an empty lot where construction is underway for a private elementary school: Merryhill. Offer subject to third party approval.

2854 Karitsa Avenue, Sacramento, CA 95833, is offered at $184,500.

Elizabeth Weintraub

Lyon Real Estate

916.233.6759

The Short Sale Savior, by Elizabeth Weintraub, coming in June 2009.

Photos: Elizabeth Weintraub, Sacramento Short Sale Agent