Elizabeth Weintraub • Sacramento Short Sale Agent • Land Park

Buyers who need to close escrow by June 30th to qualify for the first-time home buyer tax credit are reluctant to buy a short sale. That's because so many of those short sales take 90 days or more to get approval. If a buyer closes escrow on July 1, the buyer loses out on the $8,000 home buyer tax credit. However, this Lincoln Crossing home is a Wachovia short sale, which means it can close way before the tax credit expires. In fact, if a buyer bought this new Lincoln Crossing short sale today, which is March 1, I'd venture to guess it would close about mid-April.

Sure, you may hear horror stories about short sales, and many of them are true. The worst short sale in this Sacramento market, hands-down, no-holds-barred, is a double Countrywide. A double Countrywide short sale is two loans that originated at Countrywide, now held by Bank of America.

That's one of the reasons why I take all my Sacramento short sale listings for 12 months. It's my standard of practice. I'd say 90% of them close before that, but at least I don't have to track when the listings expire as I have enough other pressing issues to contend with on these short sales. Clients also prefer one-year listings because they know I will not abandon them 6 months down the road if those short sales take longer to get approved.

With a Wachovia short sale, the listing period is not a concern. Wachovia has its act together and has streamlined the short sale process. If a buyer is lucky enough to find a Wachovia short sale in Sacramento or Placer County, it's a double blessing. Not only will that short sale move as smoothly as silk, but the sales price is likely to be very attractive.

Check out this Wachovia short sale in Lincoln Crossing. This is a 4-bedroom two-story, with 2 full baths and 1 half bath. The living room / dining room has Berber carpet, a chandelier and no furniture. That room has never been used.

You'll find an island in the kitchen, with a hanging pot rack over it. The pots do not stay, but the rack does. The seller says when the home was purchased in 2006 from Centex, all the upgrades were purchased as well, except the flooring in the kitchen does not extend all the way into the family room. That's because the builder had already installed Berber carpeting in the family room. But the kitchen definitely sports all the bells and whistles -- granite counters, stainless appliances, cherry wood cabinets, wood-like flooring and a pantry closet with a frosted door. There is also a breakfast area.

The family room has soaring ceilings that reach all the way to the second floor. There is a fireplace with gas logs. It's a great room concept, meaning it's open to the kitchen. This type of layout lets family members interact during meal preparation. A mom can watch her kids in the back yard while she's making lunch. A guy can cook dinner in the kitchen and still speak with his roommate who may be watching TV in the family room.

The home has 2,248 square feet, according to the county assessor. All four bedrooms are upstairs. The master suite overlooks the massive back yard and affords views of the terrain beyond the home. It sort of makes you feel like you're out in the country. Yet, the train is close, as is the Highway 25 Bypass that's being built. There is something soothing and comforting about hearing a train at night, approaching from the distance.

As an added bonus, buyers for this Lincoln Crossing home qualify for membership in the HOA. The homeowners association has a pool, spa, gym, clubhouse and offers recreational activities. It also tries to ensure conformity within the community, meaning you won't find cars stranded on the street or forgotten trash cans at the curb, like other parts of Lincoln. The HOA dues are reasonable at $115 per month.

1046 Ashford Lane, Lincoln, CA 95648, is offered exclusively by Lyon Real Estate as a Wachovia short sale at $199,000.

For more information, please contact your Sacramento short sale agent, Elizabeth Weintraub at 916 233 6759.

Photos: Elizabeth Weintraub

Buying a home these days is a little bit like buying a pair of shoes at Macy's. After listing a Sacramento short sale in Del Paso Manor last week, I stopped at Macy's in the Country Club shopping center on El Camino. Macy's was having a shoe sale, and I needed a few pairs of flat, brown shoes. Figured I'd grab them before the spring colors arrived.

The store was mobbed with buyers. There was one sales clerk to serve them, and he had one arm. OK, his arm was in a sling, but still. I picked up eight pairs of shoes to try on; however, Macy's had only one pair in a size 6. It had no inventory, just like our Sacramento real estate market. This was madness.

Its sale rack also had very few size 6 shoes. Most shoe stores put size 6 shoes on display, yet even the display shoes were size sevens or eights. I suppose Macy's needs to continue paying the rent on the store even if it's not producing any income.

This new Lincoln Crossing listing isn't producing any income either because the tenant is moving out today. It's available as a short sale, and there's only one lender. It's possible this home could get short sale approval in April and close escrow in May.

If you're looking for a 2-story with more than 2,400 square feet and a big lot, this home is for you. The kitchen is open to the family room and overlooks the back yard. It has an island with tile and a breakfast nook. There is a formal dining area in the living room as well.

This KB home built in 2005 features 4 bedrooms, which include an enormous master suite, and 2 1/2 baths. The master bath has a sunken tub plus double sinks in the vanity. I measured the master suite, and it's approximately 20 feet by 20 feet. You'll find the other 3 bedrooms upstairs and laundry. Hurry, there's not much like this home for sale in Lincoln Crossing.

838 Devonshire Lane, Lincoln, CA 95648 offered exclusively by Lyon Real Estate as a short sale at $219,000.

For more information, please call your Sacramento short sale agent, Elizabeth Weintraub, at 916 233 6759.

Photos: Elizabeth Weintraub

I love it when I turn on my computer in the morning and find a short sale approval letter sitting in my inbox. Sort of sets the mood for the day. And even though I get up at 5 AM most mornings, those banks on the East Coast are still ahead of me. The approval letter I received this morning is for a short sale in West Sacramento.

Here is a short sale in Lincoln, California. It's a KB home in Lincoln Crossing. Except for the home to its immediate left, every other home on the street appears to be a two-story. This and the home next door are the highly desired one-story model.

It has a stucco exterior, built in 2004, with a tile roof. You'll get the typical 3 bedrooms / 2 baths, but it has an open feeling, which can make a home appear even more spacious than the 1,835 square feet the assessor's office shows. The kitchen has an island, which gives you a place to put chairs on the other side of it for a breakfast bar. But there is also space in the kitchen / family room combo for a dining room table.

The back yard is beautifully landscaped, and you will enjoy a fabulous view of it from the kitchen. Behind the fence is a greenbelt and open space with a walking path.

Even better is the home owner association. The dues are only about $115 a month, but you get a clubhouse, gym, pool and spa. Plus, it's located near Roseville Galleria.

960 Downing Circle, Lincoln, CA 95658, offered exclusively by Lyon Real Estate as a short sale at $210,000.

Call your Sacramento short sale agent, Elizabeth Weintraub, at 916 233 6759 for more information.

Photos: Elizabeth Weintraub