As a Sacramento short sale agent, it's my job to see that my sellers close escrow on their short sales. To that end, it means the buyer and the buyer's agent, plus the purchase offer, all need to qualify for the short sale.
A couple of days ago, I received an offer on one of my Sacramento short sales. I emailed the buyer's agent to ask the agent to sign my standard agent promise. Bam. She did. Then I asked if her buyer was willing to release the earnest money deposit to escrow. Bam. Yes. I next inquired about an updated preapproval letter. Bam. Received. I was starting to like this agent.
The only thing left was to talk about the price. It was too low. I explained that we want the bank to accept the offer. Did she look at the comparable sales and discuss price with her buyer? Yes, she did. Good, then could she please send me the comparable sales she used because I couldn't find them.
Ruh-roh.
Here is a fabulous home in Fair Oaks with a pool and spa. It's offered as a short sale at a fair price. This home was built the year Sonny & Cher first belted: "They say we're young and we don't know." And it still has some of its 1965 detailing such as the floor-to-ceiling, see-through partition between the living and dining room.
It features 3 bedrooms, 2 baths, and has about 1,772 square feet. The kitchen has what appears to be original light blue, white and navy blue tile on the counters, and it's open to a family room, which is presently used as additional dining space. This space also overlooks the beautiful back yard.
You can also see the back yard from the living room and master suite. Brick lines half of one wall in the living room with a fireplace. The entry is slate, with a step-up to the living room and dining room and a step-down to the wing with the bedrooms and baths.
It's impossible to see this home from the street because it's situated on a hill. On top of the hill is an abundance of landscaping, which gives the flagstone patio a lot of privacy. I spotted special touches and attention in the landscaping, some of it whimsical but simply delightful.
The back yard is a masterpiece, about 1/3rd of an acre. You really don't see other homes as much as you see blue sky, trees, bushes and flowers. In addition to the built-in pool, the home has a spa and a cabana. The covered walkway sports grapes overhead. The cabana has electricity and a ceiling fan.
The roof is newer, as is the HVAC system. The seller says about $60,000 of improvements has gone into this home. If you're a fan of gardening, this is the perfect Fair Oaks home for you. It's almost like living in Provence. But with a pool and spa, of course.
5037 Cocoa Palm Way, Fair Oaks, CA 95628, is offered exclusively by Lyon Real Estate as a short sale at $329,000. For more information, call your Sacramento short sale agent, Elizabeth Weintraub, at 916 233 6759.
Photos: Elizabeth Weintraub
---
Certified HAFA Specialist
My Sacramento Real Estate Listings
Elizabeth Weintraub is an author, home buying 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 the four-county Sacramento area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.
The Short Sale Savior, by Elizabeth Weintraub, available at Amazon.com.
Lyon Real Estate is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.
The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate.
Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice. It could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.
Lowballing short sales is working in Sacramento and it's not working here in Northern Virginia. They are at least 50% of the market on a good day. They are moving so lowballing them is out the window.
Hi Chris Ann: Well, lowballing isn't working so well in Sacramento because the banks aren't taking those offers, which is why we don't submit them. I submitted a lowball on one short sale -- which was against my advice to the seller but the seller insisted -- and we have nothing but problems with that particular short sale. Plus, the bank is forcing the seller to contribute cash because of the offer price. It's just not a good idea to do it. Well, unless it was going to auction tomorrow. Those are a different story, LOL.
Elizabeth .. Your short sale listing at Fair Oak looks like a buyer opportunity. Best wishes and please let us know how that process goes, whether owners cooperate, and lenders approve any offers, etc. Thanks.
Elizabeth, this looks like a such a cute house! Good luck to you finding a buyer. I know all too well how difficult it can be to find a buyer for a short sale.
I wish that pool was in my backyard, Elizabeth! Then I wouldn't need to schlep over to the health club to swim laps! Cocoa Palm is a neat street in the heart of Fair Oaks. Close to the Old Fair Oaks Village, and Fair Oaks Park, where they hold the Renaissance Faire each year! Good luck in getting a quick sale!