Elizabeth Weintraub • Sacramento Short Sale Agent • Land Park

For me, it was pretty horrific to read about the pregnant cow who was shot Tuesday for freaking out at the California State Fair. So, I was a little relieved when I read this morning's paper that animal advocates showed up yesterday at the Fair to voice their opposition.  It's good to know that people care and are willing to protest. Because the guys taking care of the cows were obviously unprepared to handle an emergency situation. They didn't think that far ahead or that cow and her baby would not be dead.

The police did what police are trained to do. Shoot to protect the public. Can't really blame them. But I can blame the people who were responsible for the health and safety of the pregnant cows. And the people who decided that the "miracle of birth" belongs on exhibition at the State Fair in Sacramento. When I was a kid, we didn't truck off to the Minnesota State Fair to watch calves being born. Nope, they stuffed our first-grade class on a bus and took us out to the country. I eagerly jumped off the bus, took a good strong whiff of the country air and vomited my guts into the dirt.

They put me back on the bus and made me sit there by myself while all the other kids got to go see the cows. When my classmates returned to the bus, one of them was kind enough to bring me a souvenir of the class trip: a small plastic cow. I didn't want a stinkin' plastic cow. I wanted to touch and look at real cows. I was very disappointed.

My mother, in an effort to show me where meat comes from, hauled me and my siblings off to a meat packing plant in Johnsville, Minnesota. We watched cow and pig bodies hung upside down from a conveyor belt move slowly past a glass window. They didn't much resemble cows or pigs. They certainly didn't look anything like the meat products in the refrigerated display cases at the store.

So, to this day I eat meat. I'm not a vegetarian. Although, many of my close friends are vegetarians and vegans. But I can tell you this, if I had to personally slaughter an animal for food, no question about it -- I'd never eat meat again. Still, it saddens me greatly to think about the dead cow and her baby. I hope precautions are put into place so this horrible incident never happens again, even if it means discontinuing some of the miracle-of-birth exhibits at the State Fair.

You can make contributions to the Humane Society of the United States, if you like.

No photo today

The Land Park car wash people showed up over the weekend to wash my car, and I had forgotten to pull it out of the garage. So, I asked my husband to do it. When he came back into the house he asked, "When was the last time you had your car in for service?" Uh, oh. He said it shook vehemently upon starting and the engine light came on. Of course, when I later turned the key, it was fine, but that dang engine light is still on. I wonder how long I've been driving with the engine light illuminated?

I sure hope it's not time to buy a new car. I probably deserve a new car, but I don't have the time to shop for a new car. Too many choices. It's very time intensive to shop. Believe it or not, I rarely shop. I buy almost everything online, never step foot into a grocery store -- because my husband handles the meal planning and grocery runs -- and, if I must buy clothes, I favor a specific designer's line. Shopping is pretty much a leisure activity. When I have time for leisure, I don't spend it shopping.

Now, looking at homes, that's a different story. I love to show property. That's because a home is more than four walls and a roof. It's a collection plate of memories and emotions -- past, present and future. Buyers tell me they know within 3 minutes of entering a home whether they want to buy because "it feels right." So I try to pay close attention to the way a home feels. In fact, many senses are involved. Sight is only one.

After listing a short sale in Natomas this morning and attending a closing in Midtown this afternoon, I am showing homes in Land Park, which I dearly love. Thank goodness I can borrow my husband's car. I find that buyers for homes in Land Park sometimes pay too much attention to the characteristics of the home, its architectural detail and curb appeal, and sometimes not enough attention to the most important sense of all -- common sense. Because price points for homes in Land Park can be all over the map. Some are priced too high so it's easy to overpay. Even in a market with HVCC which, knock on wood, is being revised. As a Land Park agent, I've listed and sold homes for a few sellers that probably should have never sold for the prices buyers paid. I live in Land Park. I know what's market and what's not.

Common sense says a buyer should ask his or her agent to look at the comparable sales before writing a purchase offer. In this market -- heck, in any market -- it makes sense to also look at the pending sales and active short contingent prices because they are indicative of the way the market is moving. The low-end market in Land Park is being hammered at the moment. Some homes are for sale at prices lower than their comparable sales. That gives me something else to focus my attention on than whether my car is about to explode.

Photo: Big Stock Photo

The story on the front page of the Sacramento Bee this morning is about the whale-watching business in Monterey. At this time of year, the blue whales are ubiquitious along the California coastline as they migrate to feed on krill. It's sort of strange to think of the largest creature on earth feasting on a tiny shrimp.

Blue whales don't have any teeth. Don't ask me why I know that. Something must have stuck in my thick head in elementary school. I believe blue whales are also on the endangered list of animals we have thoughtlessly slaughtered over the years.

It would be nice to drive a couple of hours to the coast today to look for whales, but first I have to tell you about this gorgeous, and I mean drop-dead beautiful, home in the Wildhawk subdivision. It's in the Elk Grove School district, but the address is Sacramento, and the popular Arnold Adreani Elementary is nearby. So is the Wildhawk Golf Club.

The first thing that you will notice about this home is the way the garages are divided. It has two driveways. A one-car garage is located on the left side and a two-car garage is to the right of this home. Sort of like his-and-her garages. Then there's this huge tree in the front yard that blocks your view of this magnificent structure.

As you walk up the sidewalk, though, you are greeted by a lovely and enchanting entrance. It's professionally landscaped with in-ground lighting, just like the back yard. Once inside, look up, and you'll see soaring ceilings and a balcony overhead. Straight ahead is the formal living room that is part of the great room concept. The wall to the right of the living room has cut-outs that let you see into the family room.

The seller says the carpeting is high-end and cost more than $20,000. It's thick, light brown and very pretty. The entire home is very pretty. It makes you feel warm and comfortable, like you could move right in, and you can, just as soon as this short sale is approved and your loan closes. It was built in 2003 by Dunmore Homes and is a four-bedroom, 3-bath, about 2,539 square feet.

Apart from a formal dining room, there is space in the gigantic kitchen for a table, and you can also put chairs in front of the breakfast bar. It's a perfect environment for entertaining and can easily accommodate two or more gourmet chefs. There is an island, 5-burner gas cook-top, built-in microwave and electric oven, plus the refrigerator stays. There is a freezer in the garage that stays, too.

You'll also find that highly coveted first-floor bedroom in this home. Plus, a full guest bath and a laundry room that comes equipped with a washer and dryer, cabinets and a hanging bar for clothes.

Upstairs are three more bedrooms, which include the master suite, a guest bath, and a humongous master bath. The master has ceramic floors, dual vanities, each with its own sink and framed mirror, plus a big soaking tub and a separate shower. This room has 4 windows and a walk-in closet.

The back yard is breathtaking. You might want to check out my virtual tour to see it. It is professionally landscaped, with entertaining areas separated by small stone walls, plus a water feature and a fire pit. There is a birch tree, Japanese maple and a cedar tree, including an assortment of drought-tolerant plants that I can't name.

9992 Phoenician Way, Sacramento, CA 95829 is offered exclusively by Lyon Real Estate as a short sale at $302,000. For more information, please call your Sacramento short sale agent, Elizabeth Weintraub, at 916 233 6759.

Virtual tour of 9992 Phoenician Way.

Photos: Elizabeth Weintraub

A reporter called yesterday morning to ask me about the rising real estate prices and market recovery in Sacramento. After all, our Trendgraphix reports show a 42% increase in pending sales for June. That's the message delivered by Lyon Real Estate. However, inventory is up about 8% and sales are down by 2%. The average per-square-foot price also dropped by 2% to $125. The reporter asked me to comment on our market stabilization in Sacramento.

Much as I would like to paint a rosy picture of the real estate market in Sacramento, I have to call it the way I see it. And I don't see a big recovery. In fact, I see prices falling. I haven't heard much about this elsewhere but it's going on, I'm telling you. Just wait a few months. You'll see.

In the first half of the year, I could slap a price on my short sale listings close to the prices of comparable sales and expect to get it. MLS reports that more than half of the listings in Sacramento right now are short sales. However, when I pull up the listings and sales for any given area with a lot of short sales, what I see are the active listings, active short contingent listings and pending listings all priced LESS than the comparable sales. What does that tell you?

It tells me that I'm going to have a heck of a time arguing with agents who are doing BPOs for the banks on my Sacramento short sales. Because those agents will consider the comparable sales, which appear to have very little bearing on market movement. I don't like it when the comp prices are higher than the activity in the marketplace, in part because people can't think upside down. But also because it means that prices are falling. You just don't see it yet.

As a Sacramento short sale agent, it doesn't really matter to me personally which way the market moves because, like Eddie Murphy in Trading Places, there is always movement. I don't control it. I can't control it. I just go with the flow and sell those listings.

It's a squirrelly market, and that's what I told the reporter. I said, "Among those who qualified for the home buyer tax credit, anybody with half a brain already bought before June." She probably thought that I said the market was full of squirrels, I guess, which wasn't really what I meant. It's that the buyers who didn't qualify for or missed the tax credit now want to compensate for that loss by slamming those list prices. They want some assurance against future market fluctuation. And who can blame them, really?

Photo: Trendgraphix

I just finished reading Justin Halpern's cute little book -- when did they start publishing these tiny hardbacks? -- called Sh*t My Dad Says. It's a fun romp and totally engaging, not to mention, although appalling at times it contains a lot of common sense. Gotta say, though, by comparison, it made my dad look like Mussolini. Some of it made me laugh out loud. My husband thought the author was a bit self-centered. He said, "What kind of guy takes off for Mexico on a whim and doesn't think his family will worry about him?" Um, I raised my hand. Been there, done that.

See, I can admit when I'm wrong. Much as I may like to think that I'm always right, hey, sometimes I'm not. Comes with the territory of being a human and not a robot. Or maybe it comes with age. Now that I pause to reflect, I was always right when I was a young whippersnapper. Ha. Not so anymore.

Take this example from a few weeks ago when a buyer's agent sent me a Request for Repair, which asked for the lawn to be replaced. This was a short sale. As with any other short sale, the home is sold in its "as is" condition. So, I responded the way I always do when this happens -- and it often does -- which was to tell the agent the seller will make no repairs. The buyers get what they get. The sellers are not responsible for upgrades, improvements nor repairs. There is no pest report nor roof certification. The home is "as is." If the lawn is dead, it's dead.

The agent then asked me if that meant the seller was not going to honor the terms of the purchase contract and deliver the home in the same condition it was in when the buyers first looked at it. I quickly pulled up the listing and looked at the photographs. Sure enough, when I listed that Sacramento short sale, we were still in the rainy season. That lawn was green. Now, that we're in the middle of the summer, the lawn looks like everything else in the Sacramento countryside: brown, dried up and a fire hazard.

That agent had a point. And I told him so. The seller replaced the lawn.

Photo Illustration: Big Stock Photo

You probably could not fit a ferris wheel into the back yard of most homes in Land Park, but my new listing in Land Park has a huge yard for a low price -- more than one-fifth of an acre -- which might very well be big enough for a ferris wheel. I've always adored ferris wheels. There's just something about being swept up into the air, whooshed to the ground, and going around and around that is a lot of fun.

You know who else loves ferris wheels? Well, he's dead, of course, but Michael Jackson. The state NAACP is pushing an idea to the state Parks Commission to turn Neverland Ranch into a state park. Colony Capitol LLC, a Santa Monica-based equity firm, has said it would like to sell the 2,600-acre property for $100 million. But will the state of California buy it and turn it into a state park? The state of California doesn't even have two nickels to rub together, so I don't see how that's going to happen.

Still, I would probably go see it if I happened to be down in southern California, if for no other reason but to ride that ferris wheel.

If you might like to put a ferris wheel into your own yard, I invite you to check out this new listing in Land Park. Bring your tape measure to see if it's possible. You might also have to check with the city to find out if there are height restrictions for putting up structures in the back yard because honestly, I have no idea. I'm just joking around.

This home is offered as a short sale and has two very large bedrooms, one of which is a master suite. I suppose if you weren't going to put a ferris wheel in the back yard, it could be possible to add on a new master suite and turn the existing master into a junior suite. Or you could do nothing and simply move in. It's large for a two-bedroom, 1 1/2 bath, with about 1,468 square feet.

It has beautiful hardwood floors throughout, except for the kitchen and baths. You'll find all the delightful touches you've come to love in a 1938 cottage -- coved ceilings, nooks and crannies, spacious rooms, crown molding and even plantation shutters. There is a quarter basement, too.

The dining room features leaded glass built-ins and a curved window with grids. It seems to have an original chandelier, but don't quote me on that. This room serves as the focal point, leading to an oversized hallway on the right and the kitchen is straight ahead.

In the kitchen, you'll see ceramic tiled counters, plenty of cabinets and storage, a built-in electric range, a separate oven and, of course, a dishwasher. There's a door to the basement and another door to the back yard, plus a bank of windows that overlooks the gorgeous yard.

But the piece de resistance is that fabulous yard. First, enjoy the expansive brick patio. It leads from the steps and winds through the covered gazebo-like area to the koi pond and water fountain. Beyond that area you'll delight in finding even more gardens, including a magnificent trumpet vine sporting orange blossoms interwoven through an arched arbor. Plus, there's a detached one-and-one-half to 2-car garage.

2781 Marty Way, Sacramento, CA 95818, is exclusively offered by Lyon Real Estate as a short sale at $385,000. For more information, please contact your Land Park agent, Elizabeth Weintraub, at 916 233 6759.

Photos: Elizabeth Weintraub

Have you ever tried to grow an avocado tree from the pit? I was describing the error of my ways last night at a dinner event held at Ella Dining Room and Bar in Sacramento. A farmer was at our table. She brings in Hass avocados from southern Cal to ripen naturally on her farm in Sacramento. I had no idea that avocados are picked and then sprayed with a chemical to make them ripen faster, nor that the more natural way to ripen avocados is to leave them out in the sun. They don't ripen on the vine in any case.

I mentioned that as a kid growing up in Minnesota, I was fascinated by avocados. I tried to grow them by inserting a toothpick in each end and sticking the pit in a glass of water placed on a window ledge. Half the time the water evaporated, but even when I would remember to put water in the glass, the darned things never sprouted.

Well, that's because I was sticking the toothpicks into the north and south poles. Imagine my shock when I finally figured out after moving to California that you needed 3 toothpicks (I always wondered what that extra toothpick was for), because the sprouts occur on the soft ends. Duh. Fortunately, I wasn't the only clueless person at my table.

Here is a home where you could try to grow avocados. However, let me say that I think our winters are too cold and wet for them, but I have had luck in sprouting them and putting them into the garden, where they eventually die when the rains set in. Hey, it was fun while it lasted. Avocados still make a nice houseplant, though.

This is a 2005 one-story, built by D.R. Horton in the Bilby Meadows subdivision of Elk Grove. It has 4 bedrooms and 2 baths and approximately 2,078 square feet. It's on the market as a short sale because the sellers are moving to North Carolina for a job transfer. Why are so many people from Sacramento moving to North Carolina? I have a lot of clients who either choose North Carolina or Texas. Those seem to be the two most popular destinations.

One of the unique features and upgrades in this home is its distressed 5" plank hardwood floors. It really makes a difference in the overall appearance and is simply beautiful. The floors extend from the entry, into the kitchen, dining area and family room.

You'll find plenty of upgrades throughout such as stone on the front of the home, plantation shutters on the windows and a better grade of carpeting. In the kitchen, the counters are quartz, and the cabinets are cherry. The darker wood blends nicely with the hardwood flooring. There is even an island with a sink in the kitchen, which does double duty as a breakfast bar.

Two of the bedrooms are located at one end of the hall and two are at the other end. This is especially nice if you have a baby and want the nursery right next to the master suite.

Although you can't tell it from the photo of the front, this home has a 3-car garage. The single-car garage faces the 2-car at a 90-degree angle. You can access the single-car entrance door from the sidewalk entrance.

10328 Marlaw Way, Elk Grove, Ca 95757, is offered exclusively as a short sale by Lyon Real Estate at $275,000. For more information, please contact your Sacramento short sale agent, Elizabeth Weintraub, at 916 233 6759.

I remember the good old days -- like a couple of years ago -- when having 10 listings meant I was doing pretty well in real estate. Now I have 40 listings. And I tend to obsess over each and every one of them, too. You'd think that's a lot of information to carry around in your head, but it's not. What I find interesting is 80% of those listings are short sales. There are agents running around Sacramento who wouldn't touch a short sale listing with a 10-foot pole. And there are other agents who are mesmerized by them, walking around like zombies with their arms outstretched and mumbling, Oooooo, short sales, where can I go to a seminar to learn about short sales?

I didn't have a plan to specialize in Sacramento short sales. Back in August of 2005, when the phones stopped ringing, I looked around at what was happening and thought to myself, what's next? Prices are falling. What's going to happen to those people who bought a home with 100% financing when it's time to sell? The answer was short sales. I like to be on top of the curve, so I called an agent I knew who had handled a few short sales and asked if over the years anything had changed. After all, I've been in this business since the 1970s. Far out, what's your bag, man?

So, I wrote an article about how to do a short sale for About.com. It jumped to the top of Google. Now, almost 5 years later, Wikipedia slipped in front of me, so my article dropped to rank at #2. Since then, I've written a bunch of articles about short sales. I've also closed a bunch of short sales. A publisher called a few years ago to ask if I would like to write a book about short sales. I told him: Nope; I've said everything I have to say about short sales and there is nothing left to talk about.

Well, I was wrong; I wrote the book. There was and is a lot to talk about. And there's more every day. I look at The Short Sale Savior and what I see is the tip of the iceberg. It's a good starting point and the information is still relevant, but there's so much more to successfully closing a short sale. For me, it's where experience in real estate pays off. Because if an agent can't sell a regular listing, the agent certainly can't sell a short sale. It's going a few steps beyond where other agents tread.

Here is a partial list of what Sacramento short sale sellers need from an agent:

• An explanation of the short sale process
• A network of short sale resources, including legal and tax experts
  
• History of the seller's bank's response from other short sale negotiations
  
• Analyzation of the seller's financial situation
• An example of a successful hardship letter
• The bank's short sale package
• Estimated time line to closing
• Criterion for selecting the right buyer who will wait for short sale approval
• Ways to anticipate pitfalls and having systems in place to avoid bank rejection of the short sale
  
• Ability to price the short sale correctly
• Experience dealing with title and escrow problems
  
• Home staging assistance
• Virtual tour and professional photography skills, including Photoshop software
• A strong online presence and listing distribution system
  
• An ability to read people, including mastering the fine art of offer negotiation

Agents don't get that from a seminar. Agents get it from closing short sales. They pay the price. The learning curve is a steep price, don't let anybody fool ya. Ask any Sacramento short sale agent. But it pays off. Here, I'll give you an example. Last week, as I walked through a seller's home in Elk Grove, I noticed the windows looked fairly new and asked when they were installed. Oh, the sellers put in dual pane a year ago. Aha. Did the sellers happen to finance those dual pane windows through SMUD? Well, yes, they did.

Uh, oh. SMUD records a lien as evidence for the debt as a UCC filing. Most sellers are completely unaware. This means the SMUD lien will follow the seller wherever the seller goes. It also means it will survive foreclosure. It takes priority over existing mortgages and the first lender will not pay it off. It also takes a while to get the reconveyance, which can hold up closing if you deal with it at the last minute. If closing is held up, it means going back to the banks and obtaining extensions for closing, which an agent may or may not receive. The time to deal with this is now.

Photo: Big Stock Photo

I truly believe that consumers live in one world and their real estate agents reside in another. We see things from totally different perspectives. As a Sacramento short sale agent, I don't expect sellers or buyers to walk in my shoes, but I do try to walk in theirs. For example, for years I have subscribed to newly matched listings from MLS for the neighborhoods in Sacramento where I live and work. I keep tabs on homes in Land Park, Midtown Sacramento and East Sacramento.

I simply signed myself up for listings a while back. That's because I want to see things from a seller's and buyer's perspective. Of course, I can go into MLS and check my "hotsheet," which spits out activity over the past 15 days in 95811, 95814, 95816, 95818 and 95819. However, when I'm looking at those listings, I'm also reading the confidential agent remarks, clicking on the APN number for property history and mortgage data, plus I know who those listings agents are. That information can color my point of view.

But when I look at the emails the public receives from me, I'm examining the marketing efforts from a different angle. It paints an alternate picture. So, it's that picture I'm after when I list a home for sale in Sacramento. Especially a short sale. Because short sales are twice as difficult -- maybe three times as difficult -- to sell over a regular home in which a seller has equity.

The strategy involves more than pricing. While home pricing is important, price is also not the only motivating factor. Sometimes, I might suggest a price that is below market value to induce multiple offers, which invariably will raise the price. Other times, it might be better to come on the market a bit overpriced to allow for lowball offers and buyer credits. Because I list short sales all over Sacramento, I realize that each neighborhood and locality is different, and I try to make allowances for that.

There is no cookie cutter approach to the short sale business, nor to real estate, for that matter. Everybody is different; each situation is unique. Nobody will ever figure out my strategy because half the time I don't even know what it is myself until I am confronted with it. So, I found it amusing when an agent called yesterday to say he knew exactly what I was doing. Oh, yeah? Well, maybe I'm digging through my closet to see if I have anything suitable to wear to the Zombie Walk for the Trash Film Orgy festival tonight. The thing is you just don't know.

Photo: Big Stock Photo

One of the perks agents get who work at Lyon Real Estate is our office assistants input our listings to MLS. These hard-working people make sure we comply with all the new rules and regulations of MLS, so we don't violate anything and get fined. If I need to make changes to the marketing comments, for example, I need only to email my staff and they update the listing.

But I'm one of those meticulous agents who pays attention to detail, which probably drives the staff nuts. If I see a hyphen missing or a typo, I email them to request a change. That's because nobody knows that I don't input that information myself, and I'd hate for a person to think I misspelled a word. They can think other nasty things about me if they like but not that I can't spell. Hey, we all have our quirks.

There is nothing quirky about this gorgeous new listing in Cameron Park. It's a multi-level with upgrades located around the corner on a quiet culdesac in desirable Bar J Ranch.

Stepping into the home you're greeted by an open floor plan and a rich mahogany wood floor in the entry. The living room is vaulted, banked by windows and sits below the raised formal dining room.

One wall in the dining room does not reach the ceiling and part of its ceiling floats around the perimeter, anchored by a white floor-to-ceiling column. There are unique features like this throughout. For example, the breakfast nook is raised above the family room and a wood railing offers insurance against flipping over the edge. However, if you've had one too many cocktails, you might be tempted to leap. There are a lot of ceiling fans plus a whole house fan. The floors in the kitchen and breakfast nook feature oversized ceramic with smaller diamond-shaped tile accents, set on the diagonal.

Step down to the family room, with its mahogany wood floors, brick fireplace and a wet bar, and you'll find sliding doors to the back yard patio. You can also access the back yard raised deck from the breakfast nook on the upper level.

The hallway floor is ceramic with decorative touches in the design, plus there is a laundry room at the end with an updated guest bath and first-floor bedroom in the center.

Upstairs are 3 more bedrooms and 2 more baths. The master is large with vaults, a ceiling fan, 2-tone painted walls, chair rails, arched windows and a big bath. In the master bath you'll find a dual-sink vanity, a jetted soaking tub and a separate shower plus a walk-in closet.

The back yard is incredible and nicely landscaped. There is a stamped concrete walkway with inlaid brick and a couple of small bridges. It features a birch tree, maple tree, roses and beautiful gardens.

3509 Sombra Court, Cameron Park, CA 95682 is exclusively offered by Lyon Real Estate as a short sale at $299,000. For more information, call your Sacramento short sale agent, Elizabeth Weintraub, at 916 233 6759.