Because I drive all over the city to list homes for sale, I notice Sacramento apartment buildings being built throughout my travels. I can tell you the number of new apartment buildings seems to be increasing. For example, when building stopped in Elk Grove after the 2008 market crash, everybody just assumed that builders eventually would continue someday. What owners did not count on was the type of new construction. Goodbye single family, hello apartment buildings.
How would you like to have bought a home on, say, Donson Court in Elk Grove, that presented you with a lovely view of fields and nature? Then 10 years later, whammo, apartment buildings in your face, overshadowing your yard.
The seller of this fixer home in East Sacramento had asked me what kind of things a buyer might ask him to fix and what could go wrong with a sale. This guy lives on the other side of the country and has been through a devastating situation. Imagine just about the worst thing that could happen to a person, and it happened to him, twice. On top of which, he later had to undergo emergency surgery in the middle of escrow, which will take a long time for recovery. He is still not out of the woods by a long shot, yet he exhibits incredible strength.
When escrows close like this recent closing two houses on a lot, I like to review the transaction for closure and for learning purposes. Even though I have been in the real estate business since the 1970s, I still learn something new almost every day. In the 15 years that I’ve worked in Sacramento, and yes, I just passed my 15th anniversary at Lyon Real Estate, I’ve most likely sold more than 1,000 properties. Never added up all my sales. Do not look in the rearview mirror much.
Wow, what a rare opportunity to buy two houses on a lot in Carmichael. In fact, our MLS features only two listings on the market in Carmichael right now consisting of two houses on a lot. Further, this property costs almost $300K less than its competitor. We could get a lot of interest over the next few days. Especially in a market like ours in Sacramento with limited inventory and an intense pent-up demand from buyers.
Before I tell you about the two houses on a lot in Carmichael, let me disclose that many of my sales so far this year involve backup offers. Knock on wood none has fallen out yet like usual, but buyers appear willing to write an offer on pending listings in hopes the original sales will blow up. You don’t see that kind of attitude very often. Usually buyers reserve backup offers for extra special listings, but I have backup offers on about half of my pendings right now.
Mostly all renters turn into difficult tenants when selling a home. It’s just a matter of degree. Why wouldn’t it be? Tenants do not want to move against their will and they worry the rent will go up if they stay. None of that makes them cooperative when selling Sacramento rental homes. In fact, difficult tenants can blow a sale or make it even harder to sell a home in the first place.
They are intimately intertwined with their living space. Sometimes, and you might find this hard to believe, they forget that they do not own the home. After all, if they’ve lived there a long time, it starts to feel like it’s their house. Not the owner’s. Especially if they have an axe to grind or something. Like, maybe they asked for certain items to be repaired or replaced and felt ignored. Perhaps they believe the landlord did not give their requests priority. Payback is a bitch. They don’t mean to sabotage the sale, oh my goodness, no, but they just can’t help themselves.