As circumstances go in Sacramento short sales, the time that a buyer is likely to cancel is almost always right before short sale approval. It's like they can see that train coming down the tracks and they can't wait for it to pull into the station. They jump in their car and go home. Seems the minute that I tell buyer's agents we're about 10 days away, they tell me the buyer wants to cancel. It doesn't make sense.
But then what about real estate or short sales makes sense these days? Not much. People get highly emotional over the silliest notions; it's human nature to react even if that reaction is wrong. Provides a false sense of security and control, I suspect.
The thing is if a buyer cancels a Sacramento short sale, the likelihood is that buyer will start the process over on some other short sale. Who knows what kind of Sacramento short sale agent they'll get on a new transaction? I hear all kinds of horror stories because, as agents go, we're simply a sum of our own experiences. The more short sales an agent sells, the better and more efficient that agent should be. I've closed a lot of short sales. If I tell you approval is coming, you can count on my word.
I am about to sell another Elk Grove short sale. I am pleased to present this delightful short sale home just outside the city limits of Sacramento in the city of Elk Grove. Although, you'd think you were far, far away in the country somewhere, but you're not. This is a small subdivision near the intersection of Grant Line Road and Sunrise. It's horse property. Traffic on this street is limited to 25 mph. There is a speed bump in front.
This is a 3-bedroom, 2-bath home built in 1974. It is situated on a little bit more than 2 1/2 acres, according to the Sacramento County Assessor. The pasture is fenced, and there is a barn for storage, plus irrigation. The back yard features a covered patio and a grassy lawn area up to the fence. Fruit trees in the orchard, too.
The seller removed all of the flooring and replaced it with oversized saltillo clay tile, except for the bedrooms, which have some kind of Berber carpeting. The temperature outside was over 100 degrees when I was there, and the air conditioning was not engaged but it was very cool inside this home. There are ceiling fans and a whole house fan, which keeps it comfortable. Probably the dual pane windows play a factor, too.
You will find cherry cabinets in the baths, granite counters, whimsical custom vanity sinks, and colorful Southwestern flair throughout.
11811 Sheldon Lake Drive, Elk Grove, CA 95624 is offered exclusively by Lyon Real Estate as a short sale at $250,000. For more information, call your Sacramento short sale agent, Elizabeth Weintraub, at 916 233 6759. For a private showing, please call Linda Swanson at 916 607 0111.
Photos: Elizabeth Weintraub
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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.
Elizabeth, You are right that many walk away at the last minute. But when I am a buyers agent that is good for me. Approved short sale here I come.
This looks like a beautiful buy. Gotta love those speedbumps for the neighborhood.
It is so true about Buyers getting tired when the deal is about to go to Closing. We try to think that we are not going to sell to the first buyer, and are sort of expecting that when I call the other agent to tell her that we finally got the call from the banks and the approval is on the way, and the agent tells you that the Buyers are walking away
Elizabeth - Beautiful new short sale listing in Elk Grove CA and I just don't get some short sale buyers, I think half the problem is education, which their agents aren't doing. I've had short sale buyers wait 10 months, I have a buyer closing next week who waited 8 months, but I educated these buyers before they even started looking at short sales.
Hard to explain cold feet or buyer's remorse Elizabeth although I had it once on a new construction home I bought but I got threw it. It is doubt over confidence or fear of making a wrong decision. The banks walk away at the last minute too. That is even worse.
"Seems the minute that I tell buyer's agents we're about 10 days away, they tell me the buyer wants to cancel. It doesn't make sense."
SERIOUSLY??? You don't see right through this? C'mon Elizabeth, you are by far one of the sharpest dames around here when it comes to short sales. I don't believe for one second that you don't know exactly what's going on here.
"The thing is if a buyer cancels a Sacramento short sale, the likelihood is that buyer will start the process over on some other short sale."
LMAO!!! $20 says they already are in one - that's why they canceled yours! JMHO Have a good weekend Elizabeth. :)
Its hard to keep them focused on a short sale when they can walk down the street an close on an REO right away....but still frustrating.
Hey Ken: Hard to believe but speedbumps are a good selling feature.
Hi Jon: Good to see you again. I imagine that you're handling a lot of short sales in your area in Florida.
Hi Michelle: I agree that part of the problem is education. I wish agents would spend more time explaining Section 1 of the short sale addendum to their buyers rather than saying, initial here, sign there.
Hi Gary: I've been fortunate, I guess, that I've never had a bank walk away.
Hi Donne: I know you may think this is the case, but it's not. I have ways to track and systems in place to report agents who violate their signed agreement to the Board.
Hi Karl: We do just about everything but nail them to the front door.
My gut would tell me they cheated on you too, despite the signed paperwork. For some agents, I bet it doesn't matter.
Elizabeth - Ok, I'll bite. What's your system for tracking buyers and their agents who have an offer in on one of your short sales. :)
I can't stand it when buyers walk. I had a buyer on the line for 6 months and they walked two days before I had written approval. I guess the verbal approval meant they might have to buy a home?