homes in rosemont
Ring doorbell in Rosemont area of Sacramento stops burglary, is a true story. We have a listing in Rosemont that is pending sale. The seller called me to say that her ring device saw a man walking up to the front door and them she observed him pulling on the Supra lockbox. We had no appointment this day and it seemed odd someone was there attempting to remove our lockbox.
The next thing I know I have a text from the seller that the man had gotten the lockbox off the front door and had beaten the supra lockbox with an axe. She called the police and they immediately responded and caught the man. The supra was destroyed in little pieces and the house entry key was missing.
Here is the house that investors and flippers have been waiting for: a Sacramento fixer home for sale in Rosemont. They say the biggest problem with opportunity is few recognize opportunity when opportunity comes knocking. Or they expect opportunity to change her clothes, lose weight, color her hair or somehow make herself more attractive when she’s beautiful just the way she is. In other words, a buyer doesn’t have to grind out every last dime in a transaction to make it worthwhile.
There is plenty of room in this sales price to do improvements and eventually sell the home to a first-time home buyer, if that’s your cup of tea. Or, you can buy the home for yourself, fix it up and live in it. As long as you’re able to tackle a Sacramento fixer home, have the rehab know-how, then knock yourself out. This is the home for you. The prices in that neighborhood are in the upper 200’s and lower 300’s. This 1963 Sacramento fixer home is listed at $245,000.
It features 4 bedrooms and 2 baths. The Sacramento County Assessor’s records puts the square footage at 1,577. There are hardwood floors mostly throughout and they appear to be in pretty good shape. The kitchen needs a bit of work, as do the two baths. There was an attempt made in one of the baths to update, but something went haywire. Seems like a bit of dry rot and dampness. You may notice the ceiling lights in the kitchen are exposed, and Romex is all over the place. That’s why there is a floor lamp in the kitchen. The cooktop and oven are fairly new. But the cabinets and almost everything else should probably go.
An interesting feature is the satellite living room features a fireplace, and there is another fireplace in the family room off the kitchen. The ceilings are popcorn and could contain asbestos.
The yard is overgrown. Weeds are sprouting from the gutters, but hey, the cement tile roof is newer and it seems from the ground level looking up to be in good shape. This Sacramento fixer home is sold in its AS IS condition, and there will be no repairs, no concessions, no renegotiations, regardless of what a home inspection reveals. And we mean it. So get ready to compete for this home. We expect great interest. The most committed buyer will probably land this.
9165 Thilow Dr, Sacramento, CA 95826 is exclusively offered by Elizabeth Weintraub and Lyon Real Estate at $245K. For more information, call listing agent Elizabeth Weintraub at 916.233.6759.
P.S. For those of you who read my blog Wednesday morning, I took Horatio back to the vet on Wednesday and had him retested. This time the result was negative. Thank goodness. There is such a thing as false-positive for leukemia testing.
Many years ago — when I used to work with more home buyers than I do now, as most of my business nowadays is representing sellers as a listing agent — I recall a first-time buyer, let’s call her Cathy, who did not know when she should write an offer to buy a home in Sacramento. We had spent all day together, chasing around Rosemont looking at homes for sale. There was one home in particular that she gravitated toward, a home without carpeting, mostly hardwood flooring, with a huge back yard, priced right, and it fit all of her needs.
Toward the end of the day, I suggested we look at the home again. We viewed the home a second time. Cathy really loved it. It’s all she could talk about all the way back to my office in Midtown Sacramento. I pulled up to the curb on J Street where she had parked, and we got out. She shook my hand to thank me for the home buying tour and was about to head off when I asked again what her gut instincts told her about the home we had toured twice. “That’s my dream home,” she responded, and spun on her heels to leave.
Just a sec, here. “Usually, when a buyer finds her dream home, that’s a sign she should write a purchase offer,” I pointed out. Cathy’s eyes opened wide. Her jaw fell open. This had not occurred to her. That was evident by the blankness crawling across her face. She had processed looking for a home but had not yet quite come to terms with how she would react when she found a home to buy. This was astounding news.
She also could not cope because she had been unprepared. She insisted on going home to mull it over, what some buyers refer to as “sleeping on it.” Nothing I could say would change her mind. There is a term for that kind of cautious behavior, for people who don’t trust their own instincts. It’s called Snooze You Lose.
I see that behavior in some of today’s home buyers in Sacramento. It’s not necessarily the buyer’s fault, either, because if a person is buying her first home, how would she know what to do or how she would feel? It’s up to her buyer’s agent to explain, in a non-threatening way, that the market in Sacramento is sizzling hot, and another buyer will purchase that home if she fails to quickly take action. We’re not making this stuff up just to throw a buyer into escrow. When you spot a home you love, you should write a purchase offer.
Otherwise, it’s snooze you lose time. Nobody likes that time clock. Remember, in any given market, if you truly adore a home, odds are another buyer does as well. Did Cathy buy that home? Sadly, no, another buyer had purchased it by morning. Cathy eventually settled on another home, but I heard about this home for years because the home she did buy was always second choice in her mind. Snooze you lose. It’s not just a catchy phrase.
I look to maximize profit for my sellers. That’s because I really enjoy what I do. It makes my sellers happy as well. I feel like I’ve done my job above and beyond when sellers walk away with a lot more money in their pocket than they thought was possible. Being a Sacramento real estate agent is one of the greatest jobs in the world. Being a top producer is even more fun, if you can imagine that.
The sellers had finished painting, making a few repairs, and buying a new microwave. The home in Rosemont looked great. Even the door knobs glistened. A bunch of offers arrived. One of them was all cash from an out-of-state investor (warning bells), but the buyer’s agent swore up and down the investor would perform. Easy peasy guy is what he said. Exact words. Except the investor was anything but easy peasy and the agent failed to respond to requests for documents. My recommendation to the seller was to drop the buyer. Fast. Like a hot potato. Because the Sacramento real estate market is too danged hot in itself. It’s a seller’s market right now, which means there are a lot of buyers competing for limited inventory.
Sure enough, we went back into escrow immediately with a new buyer. She wasn’t cash, though. She needed an FHA loan. And the appraisal came in a little bit lower than the asking price. That’s the problem with buyers who use financing. They must rely on a Sacramento appraisal. If they don’t have the cash to bridge the gap between the appraised value and the sales price, they risk losing the home. The difference wasn’t that great, though, and it was still more than the seller had hoped to receive, so the seller elected to move forward at the new sales price.
See, that’s the problem with an appraisal. Appraisals are not chiseled in stone. An appraisal is just somebody’s opinion of value. Could be a person of great integrity and intelligence who prepares the appraisal or it could be a lame-ass doofus who couldn’t find his way home with 3 maps and 2 flashlights. You just don’t know who you’ll get.
After we moved forward with the appraisal, the buyer’s lender simply could not close. It’s like an epidemic sweeping Sacramento: lenders who can’t close. Not on time anyway. They might say whose time frame are you looking at — is it the purchase contract that gives us only 30 days, which isn’t enough time to brush our teeth much less brush our hair? Or, is it our time frame, which is somewhere south of the border, west of the International Date Line and in another century?
The escrow dragged on and on and on. The buyer’s agent submitted an extension. Then another extension. The sellers questioned whether they should sign it. At this point, it might make more sense to just rent out the home in Rosemont, put it on the market next spring and deal with the new influx of buyers. Or, not. It was enough to give the buyer a heart attack. See, this is the importance of selecting a mortgage lender who can perform and not some group that can’t close on time. Because, as a buyer, you could run out of time and the seller could cancel the purchase contract, hand back your earnest money deposit and say nice to know ya; don’t let the door hit ya in the butt.
But these sellers elected to close escrow and extended. It made no difference to me because a commission now versus a commission next spring doesn’t matter; besides, I want what is best for the seller. Who it mattered to was the buyer. The buyer was a first-time home buyer. My agent who picks up my lockboxes after closing said the buyer was very grateful when he stopped by yesterday. It’s nice to have a happy ending. Happy sellers, happy buyer, happy buyer’s agent. What else could you want? How about a happy referring agent in Florida? Yeah!