My New Outside Blog: Short Sales Are Not the Ugly Poster Child of Real Estate

Short Sales Are Not the Ugly Poster Child of Real Estate

The other side of the coin...

While I like both your great attention getting headline and your positive thoughts on short sales, as a full time Buyers Only agent with nothing but pre qualified buyers, I'm pretty sure that I would only let a desperate buyer looking for a very specific home, and no set/fixed move-in timetable, near a short sale.

My job is to find my clients a home that they can actually move in to, not watch as their "short sale" turns into a foreclosure.

I have yet to be convinced otherwise.

sacramento short saleI'm tired of short sales being regarded as the ugly poster child of real estate by ignorant people. As a Sacramento short sale agent, I know how exactly Rodney Dangerfield feels. It's one of the reasons I bought that Bash 'Em in the Head t-shirt the day Myrl Jeffcoat and I went to Old Sacramento for Gold Rush Days. Because it expresses my sentiment in words and in a manner I would never display.

We all have to get our amusement somewhere to regain our sanity. My sense of humor is perhaps a bit more twisted than most.

I've got turkey agents asking me if they can offer 30 cents on the dollar. Other turkey agents acting as though I should be grateful that their buyer even wants to shoot an offer in my direction, although that buyer has little intention of committing to the transaction. The buyer won't put an earnest money deposit into escrow nor will the buyer promise not to write offers on any other homes. Well, I've got news for ya, buddy. You're not working with a buyer. You're messing with a player. And the odds aren't very high that you'll close on anything.

Yeah, you heard me. I like the odds in my favor. In my seller's favor. I like to work with a buyer who will close escrow. What listing agent doesn't? Oh. Could it be the short sale agents who are not closing escrow? There are plenty of those turkeys to go around.

But what really floors me is when we're close to closing and the buyer whines about the keys. Or the buyer insists on bringing over a contractor so the buyer can get "an early start remodeling the kitchen." The home doesn't belong to the buyer until escrow actually closes. Have a little respect. Just because the seller moved out doesn't mean the home has been abandoned. Just because it's a short sale doesn't mean that nobody cares. It's still the seller's home until the day we get confirmation of recordation. Cowabunga.

Now, I'm gonna go beat up on a loaf of Wonder Bread as yet another of my short sales close. Take that you bread crumbs. Yup, I'm stuffing the turkey this year. It sure beats being a turkey, let me tell ya.

Happy Thanksgiving to all my friends on Active Rain.

Photo: Big Stock Photo

sacramento short sale agent

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Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout Sacramento. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.

The Short Sale Savior, by Elizabeth Weintraub, available through bookstores everywhere and at Amazon.com.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.

The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate.

Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice. It could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

 

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Comment balloon 1 commentJon Quist • November 29 2010 09:47PM

Comments

Wow I guess that is two opposing sides. I guess I'm more in the middle. And my approach is more of a case by case bases rather than a broad generality with reqards to short sales. There are times when representing a short sale seller - I would love to have an offer, any offer. I could use the offer to buy some time and/or get some feedback from the seller's bank when working with a bank that won't talk to you without first having an offer. Although, I do love it when I get a full price offer on a short sale listing, I do appreciate and figure out how to use any interested buyer to my seller client's advantage.

When on the buyer side, again depending on the buyer's situation short sales can be a great option to consider.

I guess short sales are just like all the rest of the various aspects of real estate. If you put the client's needs first, communicate & educate (both yourself and the client) then you'll come out OK.

Posted by Dan Pittsenbarger, Improving Conditions (Keller Williams Western Realty) about 9 years ago

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