sacramento short sale realtor
This Natomas Realtor loves the Beazer-built homes in the Riverdale HOA in Sacramento, and so will you. Most of these homes were built from 2006 to 2008, so they are much newer than other parts of Natomas. Not only are they newer, but they are more affordable, with prices ranging in the $220,000 to $270,000 range, depending on square footage, amenities, location and condition. The Riverdale HOA clubhouse is shown above. When I was there shooting photos, I noticed the HOA has just drained the pool.
We just closed a short sale with a tax lien in Elk Grove. Tax liens are not a new thing; often when people fall into financial troubles, they end up owing the Franchise Tax Board (California state taxes) along with the usual suspect, the I.R.S. If things are so rough that you can’t make your mortgage payment, you probably can’t pay the I.R.S either. When you don’t pay the government, federal or state, the government files a tax lien against you, which is recorded in the public records of the county where you own property.
In case you don’t know, Green Tree short sales are no more, and the company name has changed to Ditech. I predict this is not the last Ditech short sale I will see. Many real estate agents in Sacramento discovered Ditech when their borrowers dumped our local lenders and opted in for a sparkly shiny new mortgage company they found online, which on many occasions could not perform. I personally recall having several transactions held up because the Ditech mortgage guys were not familiar with our local appraisers nor how we do business in Sacramento, and it caused complications. Hopefully they are better now, but I haven’t run into a mortgage through Ditech for years.
Unlike the hey days of pre-2012 in Sacramento, we are not seeing a lot of short sales in the area anymore. About 4% of all the listings in Sacramento County at the moment are active short sales, as compared to about 75% a while back. Having a small percentage of homes for sale that are underwater is good news for just about everybody, though, except that short sale seller who needs to sell her home.
In case you’re wondering, and I suspect you probably are, my own caseload of short sales has dramatically decreased, but I still manage to sell and negotiate a large number of Sacramento short sales. I thought the number was much smaller than it is, but so far this year almost 1 out of every 4 sales I’ve closed has been a short sale. It means I am still pulling in a huge chunk of the short sale business and most likely continue to rank as the best Sacramento short sale agent in town.
Every so often I get phone calls from investors who ask if my sellers will consider submitting a lowball offer to the bank for a preapproved Sacramento short sale. They realize the bank has preapproved the price but they expect to negotiate with the bank. For a hamburger today I will gladly pay you on Tuesday. They don’t understand that a preapproved short sale price means the bank will agree to sell at that price, versus, let’s say, a much higher price.
These are the kind of yo-yos who are probably used to dealing with a list price on an REO and they have little working knowledge of a short sale. If I say we’ll sell a home to them for a $1.00, they want to pay 50 cents. It doesn’t matter what the price is, they don’t want to pay it. They are giant time sucks. If you don’t want to offer the preapproved short sale price, I say go make somebody else’s life miserable and leave us alone.