Everybody in the world has their own way of perfecting communication skills. For some, it involves sticking their head in the sand and hoping someday it will all go away. Avoidance isn’t the best solution in most situations. Certainly not in Sacramento real estate, which is whipping by at a fast pace today. For myself, I try to include a bit of humor when I’m working on my communication skills. The trouble with that, though, is not everybody shares the same sense of humor.
A buyer called yesterday to say he was obtaining a preapproval letter to get a $100,000 loan. I asked how much was he putting down? $300,000? Well, that got a big laugh, but unfortunately, it’s also pretty close to reality.
My whole team is excited to present this new listing in the Mirabela at Medeira subdivision built by Taylor Morrison in Elk Grove. It’s south of Elk Grove Blvd and West of Big Horn, close to several parks: Horseshoe Park and Constellation Park. This home is simply incredible. It’s the type of home that you wish the seller would leave all of her furniture, wall hangings and accessories, because it’s decorated so beautifully. The decor is modern, yet inviting with clean lines, soothing colors and all of the furnishings are so well coordinated.
All it takes is that one highest sale to close in Franklin Crossing and a new comparable sale comes into play, setting a new benchmark. This is not to construe that one comp an appraisal makes, because that’s not how it works, but it does have a major affect on other sales in the same subdivision. It becomes a measuring stick. I just closed yesterday a sale that went into escrow on June 27th. It was contingent but the buyer’s pervious home was only a week away to closing. Although the offer was contingent, it also made the offer all-cash after the exiting home closed. No financing. Which meant no appraisal.
There is a huge push lately by solar energy companies to install solar power panels on Sacramento homes. Everywhere, I see this. Mostly it’s leases but some owners actually buy their solar panels. One such seller paid a company $30,000 to install microinverter high efficiency energy solar panels. She financed it, of course, and now it needs to be paid in full from her proceeds of sale. The stinker is she won’t get any credit for those solar panels in the home appraisal. Appraisers don’t consider solar power panels on Sacramento homes an upgrade. Solar panels have no value.
Who uses a checking account anymore? My first checking account was opened at Franklin Bank in 1969, housed in a historic stone building on Franklin Avenue and Blaisdell in Minneapolis. Just to sit in that overstuffed chair of real leather made this 17-year-old kid feel like royalty and oh-so-grown up. One of the best pieces of advice ever given to me was by the clerk in that bank who suggested I start the number of my checks higher than 101; otherwise it was a dead giveaway my account was new, which meant vendors might not be so eager to accept my check for payment. Well, there was THAT, and I looked like I was seven.