Sacramento Real Estate Views

Foreclosed Homes in Sacramento

Know What to Expect When Making An Offer On a Sacramento Foreclosure

This market is a wonderful opportunity for many people looking to get the lowest price on a home in the Sacramento region since the late 1990′s.  Prices are now holding steady but they are lower than they have been in years.  With impending doom on the horizon, prices could go lower after the end of the year.

There are a lot of people out there attempting to take advantage of the market, some are having success, some aren’t.   I’ve got clients I’ve written dozens of offers for and still haven’t been able to get a response from agents representing these listings.

Realtor Professionalism

The level of professionalism of the majority of Realtors has declined dramatically in this market.  Offers are submitted and no one responds that they’ve received them.  Calling and emailing doesn’t help, there is just no response at all.  A few days later, the property in question goes into pending sale and you’ve got no idea what’s going on.  With as tough as the banks are to work with, I guess I can’t blame them.

The fact is that most Realtors aren’t setup for this market.  They don’t have the teams to accommodate such a high volume of business.  I spoke to one assistant that I know who is working with a Realtor who has contracts with 6 banks.  He has 3 people on staff.  The assistant, himself and a transaction coordinator.  3 people trying and handle the volume of 15 listings a month is pretty tough and they are adding more.

When you take into consideration all that needs to be done with an bank owned home, it’s a monumental task.

Our team has over 30 banks we’re dealing with and we have 19 people on staff to handle all aspects of the business.  Phone calls and emails to our office get returned, properties get cleaned up and we move homes.

It’s a Service Oriented Business

The buyers are who suffers in this environment.  Maybe I’m expecting too much here but we all have licenses and it’s our duty to communicate, even if it’s on the most basic level, with each other for the good of our reputations as Realtors and, most of all, for the people we represent.  It’s not that hard.

I just wrote 4 contracts for an investor from Alaska just because I answered the phone and followed up.  That’s what this business is about, service.

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Tags: foreclosures in sacramento, homes in sacramento

This entry was posted on Friday, December 12th, 2008 at 3:11 pm and is filed under Real Estate Market Commentary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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