Staying Busy with Roseville Real Estate

It very nice to see a break in the warm weather and even to get a bit of rain but I am happy to see we will be getting some nice warm days this week as we move deeper into October.

Over at MagnumOne Realty we had a strong past week with some new listings and some nice escrow closings. One of the joys of this business is to complete a sale for my clients and this past week it was fun to see my customers from the southern part of the state move into their new home here in Roseville.

Even with bailout legislation we are still anticipating seeing the Sacramento area foreclosures continuing to be a significant part of our local real estate market. This means we will continue to help clients avoid foreclosure by representing them on short sales in Sacramento. I will be adding three new short sale listings during the next week.

Our team is getting very good at working with the lenders to get these short sales completed but there is nothing easy about the process. One of our short sales is being caused by the seller being transferred out of state to maintain employment. For some bizarre reason their lender, who has the completed short sale package we prepared, sent the loan to HOPE where they specialize in finding a way to keep the homeowner in their homes by restructuring the loan. When they have to move to keep a job, this is not exactly what they need and could cause a delay of up to two weeks in getting an answer to our short sale request. Even when you call the lenders as often as we do to keep the process on track, some still find ways to “drop the ball.”

Buying a home in Roseville is not easy

What are the chances a house that has been on the market for over 200 days, built in the 70’s and has never been remodeled or even well maintained now has three offers to buy? I think something does not smell right. Has the Sacramento real estate market returned to the pre-2005 era where you put the house on MLS and headed to the fax machine to get the first offer?

I am a optimist by nature and trust people until they prove me wrong but I am having a hard time believing this particular property, out of the blue is in a multiple offer situation. Don’t get me wrong, the spring and summer have been busy and we have encountered multiple offers and in fact we have a listing now that has received four but it is a very cute house, clean, ready to move-in and we priced it very aggressively for a short sale to help the owner avoid a foreclosure.

It is almost impossible to know if another agent is not telling the truth about interest in the house. Not many will tell you that your client is the only one ever to show interest and I often hear that there may be another offer coming but when you are formally informed there is a multiple offer situation I have, in the past, believed it. For the first time, I am not sure and may not ever know the truth. My clients are thinking and I suspect we will respond to the request for “last and best” offer but we will not overpay for this one.