Having a large presence on the web for a Sacramento real estate agent can be both a blessing and a curse. The benefit from being everywhere online is my phone rings a lot. The drawback is some of those callers are, to put it politely, insane. But as any veteran real estate agent will tell you, even insane people buy real estate. In fact, a lot of real estate is sold to insane people, if you really want to know the truth.
The secret, I've learned, is to choose the sane, logical and motivated clients to work with because that's how I sleep well at night. If I make the wrong choice, I toss and turn and stare at the ceiling at 3 AM.
A foreclosure buyer called to say he wanted to buy Sacramento homes in foreclosure. During the discussion, he mentioned he would like to buy them at 25% of value. I tried to explain that those are not available in MLS and do not exist. Some lenders are willing to discount properties 50% to 60% as a bulk package, meaning you buy a bundle of homes directly from the lender, but by the time bank-owned homes hit MLS, they are priced somewhat appropriately.
REO banks tend to listen to smart listing agents. Many foreclosures are priced under market, sometimes by 10% to 20%, but those are the homes that draw multiple offers and can end up selling over market value. This buyer asked me to send him those listings.
The following day he emailed to ask where were the homes that are priced 25 cents on the dollar because he wasn't finding those homes in the listings I had sent him.
Fortunately, I had a referral agent ready to work with him. I am working with other foreclosure and Sacramento short sale buyers buying homes at great prices who are not searching for a leprechaun.
The Short Sale Savior, by Elizabeth Weintraub, coming soon to a bookstore near you.
Photo: Big Stock Photo
Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.
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 RE/MAX Gold. 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.