fha loan: How Will the Government Shutdown Affect Sacramento Real Estate? - 10/01/13 10:37 AM
The main concern for many mortgage lenders in Sacramento about the government shutdown and the affect on Sacramento real estate has been centered on government-loan business such as FHA loans. The concern was whether a lender could obtain an FHA case number because, without an FHA case number, the mortgage lender can't order an appraisal, which pretty much would put the entire file on hold. However, even during a government shutdown, an FHA case number can be obtained for Sacramento home buyers.
What else could cause a problem in the Sacramento real estate market during a government shutdown? You'd be amazed. … (6 comments)

fha loan: How Long is Too Long For a Bank of America FHA Short Sale? - 11/05/12 07:40 AM
My assistant joked with me last week to say she hopes I never accept another Bank of America FHA short sale, after this short sale closed. But she was just joking because we sell our fair share of Bank of America FHA short sales. And we do a good job! FHA short sales are a fact of life in Sacramento. Many home buyers used an FHA loan when they bought a home 5 to 7 years ago, which today is underwater. The difficulty with these Bank of America short sales is they are not processed as an Equator short sale. Equator … (6 comments)

fha loan: The Secret to Closing an FHA Short Sale - 01/22/12 11:04 AM
I was asked yesterday if an agent should tackle an FHA short sale or leave that type of short sale to the pros. For starters, I don't believe any seller should be held at the mercy of an agent learning how to do a short sale. The agent either has negotiated and closed a bunch of short sales or the agent hasn't.
If the agent is not a short sale expert, that agent should not learn how to become an expert at anybody's expense, much less a client's. That agent should work under supervision. As a Sacramento short sale agent, I … (6 comments)

fha loan: Here Are Reasons to Sell That Sacramento Short Sale to an FHA or VA Buyer - 10/18/11 09:24 AM
One of the things I look for when I take a short sale listing in Sacramento is whether the home will qualify for an FHA loan. Because if the home will meet minimum FHA requirements, that means an FHA buyer can buy it. I care whether an FHA buyer can buy that home because FHA buyers make up the majority of the home buyers in Sacramento today. Ten years ago, it would be odd to get an FHA buyer. Not so today.
I don't know the exact numbers but I would estimate 5% were FHA buyers 10 years ago. Today, it … (9 comments)

fha loan: How Hard Is It to Get a Loan to Buy a Sacramento Short Sale? - 09/20/11 10:02 AM
In many Sacramento neighborhoods right now, we have a shortage of inventory. That means there are few homes on the market. If your short sale is on the market in a neighborhood with limited inventory, you should be getting showings. If you're getting showings, you should be getting offers. Fall is a hot market in Sacramento.
But what if you're trying to buy a short sale? You could be up against multiple offers. It is not unusual for a seller of a well staged short sale to receive more than one offer. In these instances, a seller can be selective and … (5 comments)

fha loan: When the Boom Goes Bust, You're Left With Big Holes in Neighborhoods - 09/06/11 10:38 AM
It's not unusual to own two cars, if you live in Minnesota. You have your summer vehicle and your winter car. This is a photo of the winter version. I found it over on "Eat Street," Nicollet Avenue by 28th.
This area was just beginning to boom when I left Minneapolis for good. Dozens of new restaurants, lots of new construction. When I first moved to Whittier, all of my friends thought I was nuts. It was much tonier to live in the Wedge or Kenwood or Uptown. Or near Lake of the Isles, like Mary Tyler Moore. Sane people did … (5 comments)

fha loan: Can't Afford Land Park But Want to Buy an Affordable Home in Sacramento? - 08/05/11 10:16 AM
For the first time in ages, I had a buyer ask me yesterday how much his monthly payment would be if he bought my listing. He kinda threw me off guard because I wasn't expecting it. Generally, by the time a buyer calls, he or she has already spoken to a mortgage broker and received a preapproval letter.
But this is California, after all. This is the land where buyers hop in the car to drive 2 blocks to the grocery store, spot a For Sale sign, and decide on the spur of the moment to buy a house.
If this … (6 comments)

fha loan: A New Laguna Park Village Short Sale Home in Elk Grove - 08/03/11 10:05 AM
I just read an email from C.A.R. that was promoting its HAFA classes for agents. The email implied that SB 458 will now make it easier for HAFAs to get approved, which is so far from the truth that it's laughable. The only reason right now to do a HAFA over a regular short sale in California is to try to get the $3,000. But for some sellers, the hassle of HAFA is simply not worth the headache involved nor the time it takes to get approval.
I am closing HAFA short sales but they are a lot more work than … (1 comments)

fha loan: California is Going to Hell in a Hand Basket Except for This Short Sale Home in Sacramento - 05/14/11 11:21 AM
California is in turmoil, and Sacramento is in big trouble. We're padlocking over 70 California state parks, sending pink slips to 1,200 Sacramento area teachers, cutting our district attorney's office in half and pulling three-quarters of the sheriff's county patrol cars off the road. California is going to hell in a hand basket. We've gotta do something about the budget. And fast.
Yesterday, I called the Sacramento service line 3-1-1. I wanted to report a vehicle without plates and missing a wheel dumped around the corner in my Land Park neighborhood. I got a recording. It said only emergencies are permitted … (9 comments)

fha loan: When You've Got to Climb the Fence to Get That Lockbox - 01/26/11 10:00 AM
If you think that by locking your gate you are keeping intruders out of your yard, think again. Maybe you're keeping the deer and the antelope at bay, but if somebody really wants to get into your yard, say, even a gym-challenged, almost 59-year-old, 5-foot woman, anybody can probably scale that fence, if she was smart about it. Well, yeah, determination counts, too. I am typically a pretty determined person.
A client asked if I would withdraw her listing from MLS last week. We had sold her home for $15,000 over list price because at the time we received an offer, … (8 comments)

fha loan: A Wells Fargo FHA Short Sale in Sacramento Was a Real Nail Biter - 08/21/10 10:40 AM
There are short sale agents back East like Chris Ann Cleland who love to work with Wells Fargo on a short sale. But, here, in Sacramento, those short sales are typically a struggle. Doesn't mean I don't list them and sell them, though, because as a Sacramento short sale agent, I'm not in the practice of boycotting lenders. You work with what you get. But, still. Wells Fargo, spittooey.
When it's a Wells Fargo FHA loan, it can be even worse. Because FHA wants to set the list price, just like a regular HAFA short sale but it's not HAFA. I … (12 comments)

fha loan: How Many Years Could it Take to Regain Lost Equity in Sacramento? - 06/03/10 09:41 AM
Some home sellers tell me that the reason they have decided to do a short sale is because they are growing tired of waiting for the market to rebound. Maybe they bought their home in 2005 and paid $500,000 for it. That home today is probably worth about $250,000 or less. That's a shocking drop in value for many Sacramento homeowners. It sort of hits you between the eyes.
Perhaps you look around your neighborhood and see foreclosures everywhere. Droopy for sale signs on bank-owned homes. Sign posts leaning toward the ground. Neglected yards with weeds and dead grass. Windows boarded … (10 comments)

fha loan: How to Find Out if the Seller Qualifies for a Sacramento Short Sale - 01/31/10 08:38 AM
Before I show homes in Land Park or anywhere in Sacramento, I contact the listing agent to find out more information about the home. That's because I treat each visit as though this is the home my buyer will purchase. I figure why would I show a home to a buyer that won't work for some reason? Just because a home is offered for sale in MLS doesn't mean it's available or that it fits my buyers' agenda.
Sometimes listing agents don't respond to emails, text messages or phone calls, and I often do all three. Most likely the unresponsiveness is … (10 comments)

fha loan: C.A.R. is Revamping the Residental Purchase Agreement in 2010 for Home Buyers and Sellers - 12/31/09 10:22 AM
Just when I know the California Residential Purchase Agreement (RPA) by heart -- I can practically recite each paragraph in my sleep -- the purchase agreement is being revamped in 2010 by the California Association of REALTORS (C.A.R.). Nothing is written in stone yet, and there may be many more additions and deletions before C.A.R. is finished with its revision, but holy toledo, some of these proposed changes are huge.
There are really good changes proposed such as including the fact that the buyer's earnest money deposit may be handled in accordance with the short sale addendum, and a notice that … (7 comments)

fha loan: A Wachovia Short Sale Seller in Sacramento Hits the Jackpot - 10/22/09 09:25 AM
In life, there are always little twists that keep it interesting, wouldn't you say? For example, last week I was watching a HGTV show about a couple who were buying their first home somewhere in the Midwest. They had obtained an FHA loan. Because they didn't have the money for a down payment, their parents gave them the cash.
Of course, FHA requires a gift letter from the parents. This gift letter specifically states that the funds are not a loan but a gift. At the end of the show, the couple stood in front of the camera, talking about their … (17 comments)

fha loan: Here is Why FHA Buyers May Have an Edge in the Sacramento Market - 06/05/09 10:44 AM
It's no secret that many Sacramento listing agents prefer to receive offers from conventional buyers over FHA buyers. The reasons are many and sometimes unfounded: Listing agents and their sellers like to see large down payments. They believe a large down payment makes the buyer more attractive and solid. They know that credit score requirements for a conventional loan are higher than those for FHA, so they sometimes believe that FHA buyers have lower credit scores, even when they don't.
Listing agents also worry that FHA may impose repair demands that could cost their sellers more money, but FHA's requirements have … (9 comments)

 
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents, Put 40 years of experience to work for you (Lyon Real Estate) Rainmaker large

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents

Put 40 years of experience to work for you

Sacramento, CA

More about me…

Lyon Real Estate

Address: 2801 J Street, Sacramento, CA, 95816

Office: (916) 233-6759

Mobile: (916) 233-6759

Email Me

Broker-Associate at Lyon Real Estate, midtown Sacramento office. Selling since 1974. Homebuying expert at About.com. Best short sale agent in Sacramento. Elizabeth sells homes from Galt to Lincoln.
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Author Bio: Elizabeth Weintraub is a Sacramento real estate broker, author, home buying expert for About.com, a Land Park resident, who specializes not only in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento but sells extensively from Elk Grove to Lincoln. Weintraub is prominently known as the #1 Sacramento Short Sale agent throughout the Sacramento four-county area. Call Elizabeth Weintraub at 916.233.6759. Put 40 years of real estate experience to work for you.



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