homes in Natomas
Working for decades in selling Sacramento real estate, I learned the hard way early on to check for utilities in vacant homes for sale. I took a new listing in Natomas this week. I sent an agent from our Weintraub & Wallace team to do a security check on the home. I’m scheduling vendors this week, such as a pest inspector, gardener, and the house cleaners. Vendors, of course, need lights working and electricity for the power tools. Power and water in good working order are mission critical on the listing preparation checklist.
As we roll into a very hot spring real estate market, one way to find a home is to seek Sacramento’s hidden inventory “pocket listings.” I did just that when looking in the Boulevard Park area of Midtown Sacramento. A long term client of over 21 years was looking for a home in the area. She had now, of course, become a dear friend. When we were house hunting, it became quickly apparent there were so few homes for sale in this area.
I called an agent in Midtown who works Boulevard Park and he had lived in the area for many years. Mentioned I was looking for something updated about 2400 square feet. There was nothing like this in the MLS. He said he actually had clients who had talked about selling, let me ring them. They were away on vacation in a very exotic place in the world at the time.
Everyone seems so excited about this new listing on Boathouse Drive in Natomas with three bedrooms. This home has some unique features in the floor plan. The window placement and natural light are the perfect blends to provide optimum light in the interior. The formal living room has a gas fireplace and it opens to an additional space that can be used as a family room or a formal dining room.
The kitchen is oversized with plenty of room for a huge table. This gives it a country kitchen feel, where a family could spend time together cooking, talking and enjoying great food. There is also a pantry closet for bargain hunters who like to stock up on sales; it adds extra storage.
Do you know why Realtors prefer open houses on Sunday afternoons? Many Realtors who take new listings put them on the market on a Thursday afternoon. This gives us a few days to market the Sunday open house to ensure a high number of visitors on a Sunday. I signed a new listing today in Natomas and met our photographer there. Our plan is to roll the property out on Thursday and enter it into MLS that day. I have ordered a Coming Soon sign, which will also promote it, and I will market the open house online in several places.
So that was my challenge when I was called upon to list and sell a resale home in Natomas that had not yet met its first year anniversary. Circumstances beyond the seller’s control led him to need to sell his dream home. He paid for many thousands of dollars of upgrades, which had now slightly depreciated. Not only that, but his home was located on a busy street, and his cul-de-sac was so narrow that you couldn’t turn around without driving into somebody else’s driveway.
Let me say a word about upgrades in new Natomas homes vs resale. Buyers pay through the nose for those upgrades. They are new for about 3 months. Then, for the rest of a buyer’s life, she will remember exactly how much each item cost, and she will decide much later in hindsight that the money she spent just wasn’t worth it. There are no years and years of builder upgrade enjoyment.
Another drawback to this home was the funky layout. You entered through a long hallway, with a bedroom / den at the front of the house. A bit creepy. After moving through this enclosed tunnel, then it opened up to a beautiful entertainment area, dining space and a gorgeous, simply drop-dead WOW-factor kitchen. Straight outta HGTV.
Our best bet to sell this house would be pricing it in direct competition to the newer homes. The benefit to passing on new Natomas homes vs resale homes by the same builder is the fact buyers do not have to wait. They can buy the home of their dreams right now, and it’s already built with a ton of upgrades.
Plus, the seller had a time-sensitive incentive, a valid reason why he needed to quickly sell. Still, he wanted to try a higher sales price, so that’s what we did. After a few weeks, it was pretty clear buyers were not warming to the over $500K price tag for the resale home. More research that I presented to the seller indicated the home should be priced at $485K. That was about what he paid for it a year ago.
Fortunately, the seller took my advice and adjusted the sales price. Next day, bam, into escrow. He said he should not have questioned me because I was right. Hey, I’m always right, I laughed. Mostly always.
Unfortunately, it took the buyers forever to close escrow. They ran 3 weeks over the deadline for closing. Their mortgage company wholesaled the loan to Citadel. Remember that name because everybody I know who has worked with that group has awful things to say. It’s like the loan got approved with the mortgage lender and then they started the process over from the beginning with Citadel. Slow as molasses. Bad communication. Buyers were almost as disturbed as the seller over the horrid ordeal.
However, we did close yesterday, a bit over list price. 16 Lake Katerina Ct, Sacramento, CA 95834 closed escrow at $488K.
When it closed yesterday, I told the buyer’s agent, this deal with Citadel, well, I prefer dealing with Hurricane Lane. Which, when you read this is banging the hell outta Big Island. I am at our house in Kailua-Kona for the Labor Day weekend. Actually, it is not a choice. Now that I pause. I had to do both.