Real Estate Tips
Real estate contracts using digital signatures like DocuSign can be an excellent tool, or it can be a real pain. Yesterday was a prime example. We received a purchase contract on one of our listings in the morning. We sent it out for digital signatures. Our seller had signed it but evidently didn’t click on the finish button. This stalled the entire process. I contacted our seller, but he said he had completed the process and could not finish it. I logged on to DocuSign, and it was not complete. What to do?
Should a listing have a pending sale sign in the yard? It depends. We have a Sacramento listing that recently had five offers. We are pending sale and have two back up offers. One of these two buyers signed a back up addendum and a multiple counter offer form. This buyer is ready to go into a sales contract if the first offer fails for any reason. In this case, the seller wants a pending sale sign in the front yard as soon as possible. The home sold in 5 days, so sellers are thrilled and want the neighbors to know how fast it sold.
Realtors who do not return phone calls are like a bad apple. About two weeks ago, we received a call from a buyer who had found us online. She was looking for agents who specialize in short sales. She had been trying to obtain information about a condo listed for sale in Rancho Cordova; it was a short sale. This property is listed by an agent from out of the area, by an e-brokerage.
I have been calling, texting and emailing the agent for information for two weeks. These efforts were made to help this poor frustrated buyer as the agent would not even call her back. My phone log shows repeated calls, texts and emails made to this listing agent. To date, no communication from the listing agent. This behavior reflects poorly on Realtor and often is the cause of buyers not having the utmost respect for our profession.
In doing research about whether Millennial home buyers will buy more homes than Baby Boomers, I found an interesting article posted by Forbes. These numbers in the referenced paragraph below were a surprise to me, no doubt. I’m a believer in adapt to your circumstances and evolve with the times.
“Millennials will continue to make up the largest segment of buyers next year, accounting for 45% of mortgages, compared to 17% of Boomers and 37% of Gen Xers. While first-time buyers will struggle next year, older Millennial ‘move-up buyers’ will have more options in the mid-to upper-tier price point and will make up the majority of Millennials who close in 2019.
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.