This week I am working on listing several investor-owned short sales in Sacramento, one of which will be a HAFA short sale. People think that an investor — a non-owner occupant — can’t do a short sale, but an investor can do a short sale. An investor can even qualify for a government short sale program such as the HAFA short sale, or my very favorite streamlined type of short sale: the Bank of America Cooperative Short Sale. Unfortunately, though, the HAFA Supplemental from last June removes the seller’s incentive portion, the $3,000 cash for a short sale that typically goes to the seller, so there’s not much of a reason to do a HAFA short sale for an investor in California. You have to live in the property to get the $3,000. Which means the tenant gets the cash.
I can astonish myself at the words that come out of my mouth. This agent doesn’t mince words. I say exactly what I mean, and I pride myself on communication. People say I can take the most complicated situation and break it down into simple words that make sense to others. It’s a gift, I suppose. Not everybody can do this. It’s probably why I was chosen to work for the New York Times and write about home buying on About.com on the side, but my primary job and focus is selling Sacramento real estate. As such, I work with people I don’t know, known as people from the public, from the subdivisions of Sacramento. They call me out of the blue.
When a short sale bank issues a counter offer, it’s not really a counter offer. Except that it is. It’s just not the type of counter offer that most Sacramento real estate agents recognize. Confused? A short sale counter offer arrives in different forms. Sometimes it looks like Buddha, and other times you’d swear it’s sporting a black cloak and wielding a scythe. It can be in writing or it can be verbal. The counter can be negotiable or non negotiable.
An agent in my office called yesterday about a Chase Bank short sale. I realize that my company has managers who answer these sorts of questions, and they do a bang-up job. But agents also get antsy and don’t always want to wait for a response. Imagine that. An impatient real estate agent! So, every so often, the brave ones call me. I don’t mind helping out a fellow Lyon agent now and then as long as they don’t make it a practice, although I wish they would email and not call.
It doesn’t matter where you live in Sacramento, there is a buyer for your home. Every Sacramento real estate agent knows this fact but sellers aren’t always certain. Home sellers often worry that their home will not sell. It’s their biggest fear. It’s even a bigger fear when that home needs to be sold as a short sale over a traditional sale, but every home in Sacramento has a buyer waiting somewhere to buy it. I guarantee it.
How can I be so overly confident? Because I’ve been in the real estate business for more years than I care to admit, and I’ve never yet found a home that somebody, somewhere would not buy. Never said to myself that I can’t sell this. It’s just not a possibility. That attitude does not exist.
What do you say to a biker whose motorcycle is blocking your car? Probably the same thing you’d say to a short sale negotiator, but then I’m not Myrl Jeffcoat. And Myrl Jeffcoat would most likely not be talking to a short sale negotiator regardless of how great of a Sacramento REALTOR Mryl might be because Myrl doesn’t particularly want to do short sales. Myrl is not a Sacramento short sale agent like insane REALTOR Elizabeth Weintraub, but that doesn’t mean she can’t appreciate the horror stories.