Elizabeth Weintraub • Sacramento Short Sale Agent • Land Park

When was the last time you heard of an agent turning down business? Most real estate agents I know will list a home for sale even if they don't believe it will sell. In the case of a short sale, some will list homes that they know will never close. Why would they do this? To get signage on that street. In the case of most big-name brokerages, the agents generally don't pay for their advertising signs, so it's free advertising.

Some even plaster their smiling faces on those signs. I would not put my face on a sign because somebody would draw a mustache on it. You can bet on it.

I do turn down listings and sometimes they are short sale listings. As a Sacramento short sale agent, I have a solid reputation to maintain. If agents saw short sales falling out of escrow left and right, agents wouldn't make offers on my listings. I expect my listings to close. I qualify my sellers. But every so often I have to tell a seller that if I were in his or her shoes, I'd walk away. I'd let the home go to foreclosure. I suggested that option to two different sellers yesterday and, of course, advised them to get legal and tax advice. I have to be truthful and honest. It's in my midwestern bones.

Here is a new listing in Folsom that absolutely, positively, has no reason under the sun to fall out. It should close. That's because it is a Preapproved HAFA short sale. For those of you unfamiliar with HAFAs, there are 2 types: Unapproved and Preapproved. An unapproved HAFA is when you send an offer with your paperwork and ask the bank to approve it. Preapproved is exactly what you think it means. The seller is approved and the property is approved and the price is approved. The bank has 10 business days to approve a buyer's offer when the HAFA is preapproved.

This 1996 home is a single story, located directly across the street from Folsom's extensive bike and nature trail system in The Parkway subdivision. It is situated on a corner lot, at the junction of two cul-de-sacs, which means very little traffic except for a few neighbors.

It has a an open and spacious floor plan, about 2100 square feet, featuring 4 bedrooms and 2 baths. The kitchen has been remodeled with granite counters and a maple floor, plus a breakfast nook. Part of that open and spacious feeling is due to the high ceilings. There is a fireplace in the family room with pool views from windows and doors.

The master suite has double doors that open to the saltwater pool. If you're gonna be home sick from work and in bed, this is the place to be. It's like being on vacation all of the time. In addition to the solar-heated pool, there is a spa on a raised deck. Plus, there are no towering homes blocking the sun or your view of the neighborhood. At the other end of the yard is a covered patio area.

The sellers say that living in The Parkway is like living in a little Mayberry. Neighbors celebrate the holidays together with big block parties. They tend to watch out for each other. The Parkway is a special place to live in Folsom.

1101 Buckbrush Drive, Folsom, CA 95630 is exclusively offered by Lyon Real Estate as a Preapproved HAFA short sale at $330,939. For more information, call your Sacramento short sale agent and Certified HAFA specialist Elizabeth Weintraub at 916 233 6759. For a private showing, call Linda Swanson at 916 607 0111.

photos: Elizabeth Weintraub

If you'd like to live just down the street from Russell Ranch Elementary School, then this Folsom short sale home in Empire Ranch is probably perfect for you. You can see the school from the front yard, but the home is not located directly in front of it; in fact, it's at the end of the street on the corner. The view from the front yard looking the opposite direction is a row of homes with a large hill behind it. I imagine kids would love to climb that hill.

This home was built by Elliott Homes in 2005. It's a single story and one of the more popular Empire Ranch models at 1,344 square feet. It has 3 bedrooms, two of which have bamboo planked floors. The master suite has bamboo laminate, a curved wall of windows and is vaulted with a ceiling fan. This room overlooks the back yard.

The kitchen and family room make up a great room concept. In fact, you can see the formal dining room with its plantation shutters over the windows, which is off the kitchen and entry, from the family room. Both the dining room and kitchen have ceramic floors, as does the entry. You've got stainless and black appliances in the kitchen and ceramic counters.

There is a court yard in the front and covered patio in the back, and these areas are professionally landscaped or at least look like a professional tended to them. I spotted a weeping cherry tree and rose bushes in back, too. The indoor laundry room leads to a 2-car garage. In the garage is a special receptacle for plugging in a freezer.

2244 Oak Meadow Street, Folsom, CA 95630 is offered exclusively by Lyon Real Estate as a short sale at $280,000. For more information, please contact your Sacramento short sale agent, Elizabeth Weintraub, at 916 233 6759. For a private showing, call Linda Swanson, at 916 607 0111.

Photos: Elizabeth Weintraub

As I was driving to Folsom yesterday to meet with yet another charming couple who need to do a short sale, a potential short sale seller from Elk Grove called me. She was interviewing Sacramento short sale agents and had already spoken to an different agent at another company. In her words, this company was "very aggressive." She asked how I separate myself from the competition.

Well, to start with, my clients are not just a number on a file. Some short sale agents put together a huge team and hire a bunch of assistants to negotiate and take listings for them. They want to do volume. The attention paid to these sellers is often minimal.

If a short sale has a problem or challenge, they might not handle it in a timely manner. Some of them toss listings into MLS like worn shoes into the trash. I've dealt with some of these so-called loan modification and short sale companies, a few of which are located in southern California but maintain a northern California presence.

Of course, I manage a big inventory of Sacramento short sales. But my clients are treated as though each is my only client. In many cases, I can accurately predict the red flags that could pop up during a short sale and direct my clients to the appropriate services to mediate those problems.

Here is a Folsom short sale, located in Prairie Oaks. I shot the virtual tour and assembled it myself. This two-story, 1996 Ryland Home, has been recently remodeled. According to the tax assessor, the square footage is 2,434. It features 3 bedrooms, 3 baths, a loft, a first-floor den and an open floor plan / great room concept, plus a 3-car garage.

As you walk up the hill toward the home situated at the end of a culdesac, turn around, and you'll capture a fabulous view of the foothills. At the entry, you're greeted by a bubbling water feature. Walk inside, and your jaw will drop open. I could not believe that the wide-planked floors were not wood; it's that beautiful.

The wall separating the living room from the family / kitchen combination has been opened up to allow light to shine through from the multitude of family room windows. Off the hallway is a large den and a recently updated bath. The bath features custom tile work, a tile floor and a vanity with a Decolav vessel sink.

In the kitchen, you'll find a center island with a granite counter, a synthetic granite sink and fairly new stainless appliances. The refrigerator stays, and is the width of the cabinets so it doesn't stick out in the room. Most of this space offers a sweeping view of the fairytale back yard with a spa and a trex deck.

The bedrooms are located upstairs, with 2 bedrooms separated by a loft from the master suite. You could use the loft space as an extra office, playroom or work-out area. The master suite has a ceiling fan and vaults. But the master bath is spectacular. Travertine floor, jetted tub and separate shower, plus dual sinks and custom tile work, including a big walk-in closet.

664 Cole Court, Folsom, CA 95630 is offered exclusively by Lyon Real Estate as a short sale at $403,750.

MLS # 10006634

Call listing agent Elizabeth Weintraub at 916.233.6759 for more information.

Photos and virtual tour: Elizabeth Weintraub (yard photo courtesy of J. Winnett)

THIS HOME CLOSED ESCROW ON JULY 30, 2010 AT $424,000.

Have you been searching for a townhome that will give you that lock-and-go lifestyle but still feels like a single family home? Then check out this exceptional home in Folsom. It's located just over the river (Folsom-Auburn) off the quiet side of Oak Avenue.

Rolling hills and immaculate curb appeal welcomes you to Folsom Bluffs as you turn left from Oak Avenue onto Deerwood Way. It's another world, away from the hustle and bustle of Folsom but close to the river and walking trails.

The home has 3 bedrooms and 2 baths, a configuration most home buyers prefer. But it also has unique details such as a panoramic view of the trees and greenbelt from the balcony. The balcony runs along the west side, accessible from the master suite or family room. Its trex deck boards are practically guaranteed for life, and there's enough room for lounge chairs and a dining set. It's the perfect place to watch the sun go down as you sip a glass of pino grigio.

Inside the home, you'll find 2 fireplaces, one in the family room and another in the master suite. There is also an atrium, a private patio off the guest bath, and soaring ceilings with wood beams. The floor plan is open. You can see the living room, formal dining room, entry to the master and the family room from the kitchen. Plus, the kitchen has a breakfast bar and a breakfast nook, located off a spacious and private enclosed courtyard. You've got almost 2,000 square feet in this gorgeous townhome.

520 Crestridge Lane, Folsom, CA 95630, offered at $219,000. Listed by your Sacramento short sale agent.

Lyon Real Estate, 916.233.6759

The Short Sale Savior, by Elizabeth Weintraub, coming in June 2009.

Photos: Elizabeth Weintraub

Sometimes visitors come to my web site, sign up to receive daily emails containing new listings, and they never respond to the personal email I send them. I don't believe in generating automatic responses because I want visitors to know that if they have taken the time to poke around my site, read some of my articles, look at Sacramento market trends or watch virtual tours of homes for sale in Sacramento, they deserve a personal welcome from me. But, when I ask them to be more specific about what they want or offer to help them, half the time they don't acknowledge my email.

The next time I hear from them is when they want to write an offer. Which is OK with me.

First-time home buyers asked me to meet them on Saturday at a home in Folsom. To protect their identity, let's say the home was on the market for $401,000. I immediately called the listing agent who informed me he was already working on a counter offer, even though this home was just placed into MLS an hour ago. Must be his buyer, I thought, he's double-ending this. Turned out later that I was correct.

The agent called me back a few hours later to say another agent was also writing an offer on this home. It was a beautiful, turnkey home on a street loaded with curb appeal.

I pulled the comparable sales for that subdivision and drove to Folsom to meet the buyers. The door was difficult to open. (Agents should put confidential remarks in MLS when doors are hard to open.) When the buyers arrived, I gave them the comps and explained the market, why we are facing multiple offers on attractive, well priced homes and we discussed strategy. This home was easily worth $30,000 more than its list price. They decided to make an offer, so we drove to my Folsom office. That's one of the perks of working for a large company -- Lyon Real Estate has 15 offices in Sacramento County, and I have a key to every one of them.

We talked about each aspect of the offer, the strength of a strong earnest money deposit, a loan preapproval letter in Word format that will let us change the approval amount to our asking price, among other factors and, of course, the price. I gave the buyers privacy so they could discuss the price between themselves. See, while I can help to guide them by giving them enough information to make their own decision, I would never in a million years want to insist on a certain price. Why? Because it's not my money; it's not my home; it's theirs.

At this point, the listing agent appeared at my office. He was driving by, he said, and he had specific paperwork the seller wanted executed, so he was kind enough to bring those documents to me. As we were standing in the hallway talking, one of the buyers poked her head through the doorway. "Can we go back to the house for a second visit?" she asked.

Absolutely. I called the seller and made a second appointment. The seller said another agent had made an appointment very close to the same time but gave us the go-ahead. When we arrived back at the house, I could not open the door. I gave the keys to Mr. Buyer, and he couldn't get it open, either. So, Mrs. Buyer made an attempt. I glanced up to catch another agent pulling up in front of the house with her buyers in the car.

"Don't worry," I assured the buyers. "We are first. They will have to wait." Fortunately, the agent saw us struggling with the door and called the listing agent who shared the secret of how to open that darned door!

Turned out the buyers had a few questions about space for a pull-down projection screen. The overhang in the living room was the perfect spot. "Take all the time you need to look," I said. That was easy for me to say. I was standing inside a heated home, while the temperatures outside hovered in the low 40s.

We drove back to my Folsom office to write the offer. The buyers decided on a price of $409,000. That seemed reasonable to me, because the buyer in counter-offer stage obviously offered less than list price, most likely thinking he could steal the home. The second offer was likely to be at list price. And if the buyers who were sitting at the curb waiting for us to finish our second tour wanted to make an offer, most likely their offer would be around $405,000. It's how these things go.

Turned out the buyers forgot to bring a checkbook, and they lived 20 minutes away. I waited for them to come back. The clock was ticking. By now, I had been in Folsom for three hours, and I had another appointment in Elk Grove scheduled within the hour. No lunch for me, I surmised.

When the buyers came back, I pulled out the vast stack of required paperwork and began to explain each document. I handed them my exclusive buyer broker agreement and noted that signing it meant they would work only with me -- that they could not work with a different agent to buy a home in Folsom. This is how I work. I'm very straight-forward. I expect loyalty, because I don't work for free.

"So, if this offer isn't accepted," began Mr. Buyer, "then you're saying we can't work directly with a listing agent or a different buyer's agent to buy another home in this area?" They understood.

"Yes. If you don't want to work with me, you don't have to sign it. Do you want to work with me?"

They did. After all, that was one of the reasons we were sitting in my holiday-decorated office on this chilly Saturday morning.

Mr. Buyer then said, "We've been looking at a lot of home with a lot of different real estate agents. What do we say if another agent calls us with information on another property?"

That was an easy one to answer. "You say you are working with Elizabeth Weintraub who has more than 30 years of experience in this business and is one great Sacramento real estate agent." I laughed. They laughed. They signed the paperwork. I dashed out the door to head for Elk Grove. On the way, I called the listing agent to let him know he could expect the offer in his email.

The following day, the agent called. His sellers liked the offer, although it was very close in price to the fifth offer he received that day. They liked the fact the buyers put down a healthy earnest money deposit of 2%. The contract was clean and tight. But what really impressed them was the fact the buyers had taken the time to come back to the house for a second visit and that their agent called to make a second appointment instead of just driving over unannounced. All these little things add up.

They got the home!

The Short Sale, by Elizabeth Weintraub, coming from Archer Ellison in January 2009.

Photo: Big Stock Photo