My client's daughter sent me an email a couple of days ago. Her mother lives in Land Park and would like to sell her home. We've been discussing the list price. The daughter is trying to decide between a reverse mortgage or selling. Figuring out how to price a home in Land Park is an art, just as much as selling that home is.
Oh, I know some sellers who think the only thing that agents do is stick a sign in the yard and go on vacation, and I suppose some of them do (to tell you the truth) but I'm a Land Park agent who believes in service and is serious about my profession. Everything I do is personal to me. I take great pride in my work because I come from the kind of stock whose motto is if a job is worth doing, it's worth doing well.
When it comes to homes in Land Park, though, the prices can vary greatly from one home to another. You really cannot look at 95818 in Zillow and expect to get a true picture of value in Land Park. A guy on Land Park Drive recently emailed me to ask how much is home is worth and, even though I remember that home when it was on the market 5 years ago, I still need to see it today to establish value.
Another woman over by City College called this week to ask about the value of her home in Land Park. She was certain I would remember our conversation from early spring and her home -- although I don't know why because I'm probably older than she. She might have had the impression that I had driven by when I had done no such thing nor implied it. Regardless, her estimate of value wasn't too far off, depending on an interior inspection. She thinks her home is just like any other, but it's not. There's a feeling to it that has a monetary value. A person must be inside of the home to determine that value and put a price tag on that feeling.
I've been inside the home of the seller who is trying to decide between doing a refinance or selling it. She's getting an appraisal from the bank. The thing is, the value of that home to a Land Park home buyer will be different than the value of a refinance appraisal. Not to mention, I've sold short sales in Land Park that were over-mortgaged through refinances. Those prices can be all over the map. You've got to be careful that you don't borrow more than your home is worth or will be worth at the time of sale. However, in this client's case, I believe she is better off getting a reverse mortgage than selling.
Because I'm a real estate broker, I might be a bit biased -- you think ? -- but if I had to put my money on an opinion of value from a real estate agent who works in Land Park and lives in Land Park or some guy from Stockton hired by the bank, I'd probably go with the agent.
Photo: Big Stock Photo
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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.
