Elizabeth Weintraub • Sacramento Short Sale Agent • Land Park

Everybody knows that I am a Sacramento short sale agent who carefully chooses the short sales she agrees to list and sell. That's because everybody knows that my short sales tend to close. Especially a short sale in Land Park. I sell enough homes in Land Park to know the individual neighborhoods intimately and, besides, I live in Land Park. There are many neighborhoods within neighborhoods in Land Park. Prices can vary dramatically from street to another. But it wasn't price that made this Land Park short sale explode.

It was the bank. Central Mortgage.

Most of my Sacramento short sales tend to be Bank of America, Chase, Wells Fargo or Citimortgage. The big four. But, I've done enough short sales with Central Mortgage -- and by enough I mean I can probably count those short sales on both hands -- that I know they tend to be slow and quirky. It would also not be unusual to get assigned some old grumpy negotiator. I got a different negotiator this time. Maybe Central has increased its staff?

We accepted an offer the first few days in May and sent the offer, an accompanying BPO, the HUD and all required paperwork to Central Mortgage. Called every week. Yes, all the docs are in. Yes, the BPO has been completed. Finally, in mid July somebody at the bank looks at it. The negotiator generated a lengthy letter.

In this letter, she asked for 17 different things. I did not see any objection that was insurmountable until I got to the bottom of the letter. At the bottom, she basically said that it didn't matter what we did. We could increase the offer price, we could comply with every nuance and request, but regardless, she would not postpone the trustee's sale.

We had two weeks to close. That's OK, if we generated an all-cash offer, we could close in 2 weeks and beat the auction date. That wasn't the kicker. The kicker was the negotiator said even if we could meet all the terms and be ready to close, there was not enough time to approve the short sale. She could not approve it because she would need to review it. And after she reviewed the file -- which would obviously take her a long time -- then she would send it to the investor. The investor would need at least a couple of weeks.

All of this meant there was no time left to approve the short sale prior to its auction date. She could have said that in the first sentence of the letter: Hey, sorry I let this file sit on my desk for 2 months, but now I have no time to do my job and this is going to foreclosure. Because that would have been a more accurate picture. But no, the negotiator must have spent an hour carefully drawing up her list of 17 items before she told us to go fly a kite. Unbelievable. Why go through the motions?

No time, no time, no time, no time
No time, no time, no time, no time
I got, got, got, got no time
I got, got, got, got no time
I got, got, got, got no time

The Guess Who -- No Time

This home in Land Park is offered as a short sale. It 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 about homes in Land Park. Especially in vintage homes such as this 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 the chandelier does not stay. 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-car garage.

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

Photos: Elizabeth Weintraub

I find that few real estate agents talk much about how the home buying decision is based on impulse. It's not just true in California where going to open houses on Sunday is akin to a religious experience for some -- home buying is an emotional experience for many buyers. Where we live is very personal. Our homes are more than four walls and a roof. Home is a place where we build memories, share intimacies and grow up to become the obnoxious people everybody knows and loves.

People buy homes on a whim. Don't believe me? I see it all the time. A husband and wife from Folsom, with their little kid strapped in the back seat, could be driving to the Sacramento Zoo on a Sunday, and spot an Open House sign along the way. One of them says: "Say honey, I love the homes in Land Park, let's stop to look at this one." Next thing you know, bingo, press hard, third copy is yours. They bought a home in Land Park.

But the thing with buying a short sale in Sacramento is too much time passes by. Too much time for buyers to think about their decision, weigh consequences and develop cold feet. In a regular transaction, by the time a buyer regrets the decision, her furniture is all in place, and she's shoveling the contents of a Lean Cuisine into her face and watching Elizabeth Weintraub on House Hunters by the time she discovers, hey, there is no fireplace in this living room!

But in a short sale, she could be waiting 3 months or longer for short sale approval. That waiting period gives her plenty of time to study the home via satellite on Google, watch the values decline in Zillow and play through the virtual tour over and over and over. Suddenly, it occurs to her that she can't afford to buy a home. Or she finds something wrong with the location. Or another home sparks her fancy. Perhaps she falls in love and decides to move to Portland? A lot can change in 3 months.

I almost put a home in Land Park back on the market yesterday. Yup, we had buyer's remorse. These buyers swore up and down, practically on their grandmother's grave, they wanted to buy this home. I've been in this business since the days of Mork & Mindy, so I respond to this kind of earnest enthusiasm with Nano Nano. A bunch of agents called me after this home in Land Park went into escrow -- I encouraged them all to write a backup offer. You never what can happen, I told them.

As a Land Park agent, I have seen stranger things happen. This particular transaction is a short sale, too. Sure enough, yesterday, after 6 weeks, the buyers bailed. Second buyer who was in backup passed as well. So the third buyer in backup slipped right into escrow, and this home never came back on the market.

Don't ever discount the power of being in backup.

Before I jump into talking about homes in Land Park and my new short sale listing, let me say that today I am going to Roseville to list yet another short sale. I know this might sound weird, but I am probably one of the last few people on the face of the earth who does not have a tattoo. What does this have to do with Roseville, you ask?

Well, Wild Bill Hill is hosting his annual Tattoo-A-Thon in Roseville, today through February 19th at Wild Bill's Tattoo, 205 Vernon Street. He is donating 100% of all earnings, including tips, to U C Davis Children's Hospital. What a generous way to raise money for the hospital.

I'm wondering if my husband might be interested in going for a drive with me. It's hard to get him to do spur-of-the-moment stuff, because his idea of what's fun and mine are sometimes 2 different animals. When on vacation, for example, he might ask, "What shall we do today?" And I might answer: Let's go play pool and smoke cigars. Or Let's get a tattoo. He never wants to do those things.

Here is a new short sale listing in Land Park. It was built in 1949, and is located on what many Land Park residents think is the prettiest street east of Freeport. This particular street ends in a wide cul-de-sac. There is a tall cement block wall in the back yard, which blocks the view of the train. As I stood in the yard, I heard the light rail go by and was astonished at what little sound it made. There are many people who love to hear the sound of the train at night and appreciate wailing engine calls. It's sort of romantic, don't you think?

This home has 2 bedrooms and one bath, although the bath could use a little work. It has updated central heat and air, which the sellers had installed after they bought the home. There are mostly  floors throughout. The kitchen is huge, big enough for a kitchen table and 6 to 8 chairs. You'll find a fireplace, with an insert, in the living room.

The back yard is kept in a natural state, lots of wildflowers. It's bigger than the you may imagine because it also winds around the north side of the home. The sellers have a certificate on the kitchen wall that they received from the city of Sacramento, naming their back yard a "Certified Wildlife Habitat." You should see the videos and pictures of all the cedar waxwings who come to visit while migrating. There are also squirrels, hummingbirds, scrub jays, grackles, robins and white-crowned sparrows, among other types of birds.

The yard also boasts bamboo, a fig tree, oak tree, maple tree, pomegrantes and a cherry tree. Of course, there is a garage, too. And the home has mainenance-free aluminium siding.

2137 Bidwell Way, Sacramento, CA 95818 is exclusively offered as a short sale in Land Park at $209,000 by Lyon Real Estate. For more information, please call your Land Park agent, Elizabeth Weintraub, at 916 233 6759 or, for a private showing, call Linda Swanson at 916 607 0111.

Photos: Elizabeth Weintraub

When I drive buyers around to show homes in Land Park, I sometimes point out the homes on Vallejo Way, between Land Park Drive and 14th Street, which I listed and sold. I tell buyers how I sold that entire block on the north side of Vallejo Way. Which is true. But I also quickly point out that there are only 2 homes on that block. That's always good for a chuckle.

Now I have a new short sale listing in Land Park on Vallejo Way. It's a breathtakingly beautiful home, boasting more than 2,000 square feet, built in 1937, with 5 bedrooms and 2 1/2 baths. Three bedrooms downstairs and two bedrooms up. A third bath was recently added. You won't believe your eyes until you see this home. No expense was spared during a recent remodel.

Major electrical updating, CAT-5 added, sewer line and water main replaced, solar-powered attic fan, multi-zone central heat and air, dual pane windows, light fixtures replaced, automatic sprinklers and drip systems installed, walls and attic insulated -- all the things that benefit a home buyer but some things that buyers can't easily see or may not ordinarily notice. Expensive things. Smart things. Things that every home owner wants but sometimes just don't get around to doing or can't afford to do.

The kitchen is gorgeous and sparkles. From the custom-made glass doors installed on some of the upper cabinets to the polished slate floor, it's immaculate, functional, and it features a breakfast nook. You'll find GE Profile stainless steel appliances, granite counters and under-cabinet lighting, too. The kitchen had been torn down to the studs for the remodel.

Step into the show-stopper master bath, and you'll discover a unique shower, with a curved base, which makes the clear glass door curved as well. The shower walls are cultured marble. Plus, the master suite features those hard-to-find double closets in Land Park. All the bedroom closets have organizers. You'll marvel at the added touches such as newer door knobs, retiled fireplace hearth, custom tile job in the entry, and even a built-in ironing board has been added to the master suite. Mostly hardwood floors throughout.

This Land Park home is on Lyon Real Estate Broker Tour today, Wednesday, January 13th, from 10 AM to 2 PM. If you'd like a private showing, please call your Land Park agent, Elizabeth Weintraub, at 916 233 6759. I live close to Vallejo Way, so this is easy for me to show. MLS #10002909.

1741 Vallejo Way, Sacramento, CA 95818, is offered exclusively by Lyon Real Estate as a short sale at $450,000.

Listing agent Elizabeth Weintraub can also be reached via email: elizabeth at elizabethweintraub.com.

THIS HOME CLOSED ESCROW ON AUGUST 12, 2010 AT $463,000.

Photos: Elizabeth Weintraub

Is it a full moon? I had to look it up and, sure enough, according to the U.S. Navy, last night at 9:21 PM, the moon was full. I shot this photo about 6 AM this morning. It's what the moon looks like setting over Land Park, Sacramento.

Although I'm not a big believer in astrology, despite my wacky attempt at a bit of humor with my Real Estate Horoscopes for 2009 -- which caused some readers to say they were never, ever, going to read another thing I wrote, not if they lived to be a million years old -- sometimes I do wonder if the gravitational pull of the moon affects human behavior.

Many of my Sacramento short sales had an extreme amount of activity yesterday. Coincydink? You tell me. How does a short sale in Sacramento get approved within 30 days? I have a few I've been working on for several months that seemed to be headed nowhere. Then, all of a sudden, a negotiator called yesterday to say he'll have short sale approval before the end of the month, and we just submitted the file 10 days ago.

By some stroke of miracle, my pile of Countrywide deactivated files suddenly were reactivated. Are the pagans dancing naked under the moon?

And to think I was complaining to my husband a few days ago, asking him to tell me again why I am a Sacramento short sale agent, to which he responded, "Because you enjoy hitting yourself on the head with a hammer?"

But this morning, all those short sale files appear headed toward closing. I presently am working on 18 contingent short sales, meaning they all have accepted offers from committed buyers. I also put another Land Park short sale buyer into escrow yesterday who had been toughing it out, waiting days for a presentation of multiple offers. Come on, Wednesday, I'm ready for ya.

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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 Sacramento. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you.

The Short Sale Savior, by Elizabeth Weintraub, available in bookstores everywhere and at Amazon.com.

Sacramento Short Sale Agent, Elizabeth Weintraub, has the answers to your Sacramento short sale questions.

Photo: Elizabeth Weintraub, Land Park, Sacramento