first time home buyers
For some reason, it has been drummed into the heads of Sacramento home buyers that it should not be OK to pay list price for a home. Which is the silliest thing I’ve ever heard, and yet I hear it a lot. I heard it back in the 1970s when I started selling real estate. My mentor at that time taught me that owning real estate is the most important thing. Even if I pay list price, it’s OK. There is nothing wrong with paying what a home is worth. Yet, we always want to get a deal . . . when the truth is there are no deals if you don’t buy the home.
Sorry, it is now too late to buy this remodeled home in Tallac Village. It just yesterday closed escrow. Funny, when I originally listed this Tallac Village home, I got a lot of pushback from agents telling me they thought the home was overpriced. I’m thinking that might be because they were unfamiliar with the neighborhood. See, when I take a listing, I thoroughly examine the surrounding neighborhood for comparable sales. What I noticed in this area was a big mix of homes, mostly on the lower end. There were a few a streets that reflected enormous pride of ownership, and this was one of those.
This is a story that needs to be shared in hopes you won’t ever end up in the position of making Sacramento home sellers refuse to sell the house to you. In its telling, the Sacramento buyer’s agent is not the focus of this incident, although she bears some responsibility. She was the last person who could have told the buyer NO, the proposal is a lousy idea. Or, she could have refused to accommodate the request. Or, she could have disclosed her buyers’ intent in the purchase offer. But she allegedly, by her own admission, was in no condition to do any of those things. The point here is she is not necessarily a bad agent.
There is a difference between buying a flipper home and a Foothill Farms home the seller remodeled for herself. With some flipper homes, you don’t know what you are buying and what’s been covered up by the flipper investor. The flipper could be a guy with integrity or a woman who just wanted to do things as cheaply as possible without any experience. You just don’t know. But with a homeowner who remodels the home to her own tastes, the improvements tend to be a bit better quality with improved workmanship. Owners who remodel are often pretty picky.
Agents who don’t prepare an agent visual inspection deserve what they get. For many real estate agents working in Sacramento today, the 1984 case of Easton v. Strassburger is nothing but a legal phrase they recall from a real estate exam and meaningless to them today. Since I had already been working for years in real estate when the California court of appeal ruled on this legendary case, the ramifications of Easton v. Strassburger struck fear in my heart and it’s never left. This landmark lawsuit changed the way I forever since have done business.