One of the services I offer my sellers of homes in Carmichael and other communities throughout Sacramento is my tips for fixing up the home prior to sale. I make sure the types of improvements or repairs I suggest are things that will return 100% or more, because otherwise they don’t make financial sense. The things I suggest are often dependent on not only market conditions such as whether it’s a hot seller’s market or a buyer’s market, but also it’s based on the condition of the home.
You know, I can write about trying to avoid an annoying escrow cancellation until I am blue in the face, and it doesn’t change anything in Sacramento real estate. Part of the problem is we’ve got such a huge number of Realtors in Sacramento who do very little business, so they don’t always fully counsel their buyers. When I tell consumers that about 90% of the agents sell 3 or 4 homes a year, they are flabbergasted. How effective can an agent be when she closes so few sales?
I’m not knocking agents who don’t want to be top producers, btw. Not everybody chases the business nor finds challenges exciting and rewarding. Lots of real estate agents lead normal lives. But not me. And I have been trying to figure out how to avoid an escrow cancellation ever since they started happening in such huge proportions. When I have to resell what seems like half of my listings a second time, there is something seriously wrong.
If your home in Sacramento is a pending sale, why would you let another buyer into your house to see it? It’s not like that buyer can purchase it. It’s inconvenient to you, probably, to show. You are most likely ready to close in another couple of weeks, why the rush now to show your home? Your existing buyer is not about to cancel the transaction, and her inspection contingencies are removed. Then, why is showing your home while pending a wise move on your part?
Because you know where I’m going with this. I would not have brought it up if I didn’t want you to consider showing your home again.
Why the seller rejected an offer to buy a home is really not all that important but it doesn’t mean a buyer might not want to know. Moreover, it might be the buyer’s agent who is more curious about why than the buyer. In my earlier years of real estate, like back when Jimmy Carter was in office, I would often feel like I was helping a buyer’s agent by explaining how the buyer could do better next time, but over the years I’ve come to conclude that trying to help was about the dumbest thing I could do. It’s not my place to try to help. I’m just the listing agent.
When inventory is low and the quality of available homes for sale in Sacramento is spotty, it might seem like there are no homes to buy, but that’s because nobody is looking at the shadow inventory. Shadow inventory can be defined as a lot of things — it can be homes that have been foreclosed upon and not yet on the market, or it can pertain to the pending sales, active release, short contingent and temporarily off the market listings, among other select status modifiers.
You might find gold in those listings.