Fair Oaks, CA

I have managed and transacted on many short sales this years, for both buyers and sellers. I also utilize the services of a professional negotiator to expedite the process. As some may already know, there is nothing "short" about the process of a short sale. The term truthfully relates to the "short payoff" that the bank must approve in order to complete the sale of a home that is "underwater" and "upside down." Generally speaking, the approval process can take anywhere from 2 months to 6 months, potentially longer. In the meanwhile, buyers are lost, sellers become extraordinarily impatient, and time continues to drag on with days on market for the home desperate for a new owner. There is definitely no immediate gratification; no immediate approval; just wait. Well Wachovia, for me, set a new approval record. I represent the seller in this case. The package was prepared for the bank, the purchase contract was received by the expectant buyer, and the entire package was delivered to the bank - Wachovia, in this case. To all of our amazement, Wachovia contacted me within a week to set up an appointment at the home to complete a brief interview and BPO (Broker Opinion of Value) on the home. Within days, we had our official appraisal. Within 2 weeks, we had our approval in writing from the Wachovia, enabling us to open escrow and commence with the actual sale of the home. We (buyer, buyer's agent, seller) fell over.

So, clearly, some banks are getting the message: Let's redirect some of our efforts from REO, Asset Mgmt, division, to our short sale division, avert the imminent foreclosure market, and begin to stabilize the valuations in our real estate market place. Everyone wins. Buyers get a great home at an REO price, Sellers save their credit, banks experience less of a loss in a declining market, real estate values stabilize.

I'm All In....

I just read a news story about an office worker who is suing a co-worker for wearing a strong perfume to which she is having allergic reactions. The offending gal also uses plug-in scented air fresheners at her desk. The allergic gal has been suffering from terrible headaches, and the other gal will not give up her perfume. I can identify, because I too have allergic reactions to some perfumes.

The reason I bring this up is because this time of year, especially, many people fill their homes with scented candles and sprays, and they spray perfumes and colognes on themselves and their clothing when they prepare to go out for holiday parties. Some of those folks are trying to sell their homes, and potential buyers (as well as agents who may have an interest in showing the property to their clients) may find all of these scents offensive and they may even be sickened by them - even though they are perfectly nice fragrances.

If you are marketing your home this holiday season, your chances of finding someone who will fall in love with it are greatly increased if you remember a few things:

1. Be very sparing with perfumes and fragrances. One bottle of essential oil with bamboo sticks can infuse your entire home with a subtle aroma. Although it may not seem as "Christmasy", a light vanilla fragrance is probably the best to make your home fresh without affecting so many allergies. And if you are a smoker, it may be helpful for you tl restrict your smoking to the back yard until the home is sold.

2. While on the subject of scents, remember that the holidays can be stressful for your pets, and may trigger "accidents" that would not otherwise occur, or bouts or diarrhea. The best behaved dog or cat will sometimes become overexcited or nervous, and you should do what you can to keep them calm. It is best to have them gone, if possible, for any showings. If you must lock your dog in the garage during a showing, be sure to put a note on the garage door to alert the agent and prospect not to open that door.

3. We all look forward to decorating our homes with trees, lights, stars, snowmen and Santas, but when potential buyers tour you home, you will want them to focus on the wonderful features of your home and not on how pretty your tree is or your cute snowman. Some decorations will brighten your home and put buyers in a good mood, but cut your normal decor in half while your home is on the market.

4. A Christmas tree will crowd your home to some degree, and you may have to remove a few pieces of your regular furniture. Buyers are interested in large comfortable rooms and will want to imagine their furniture fitting in your home. If the house looks too crowded, it will seem smaller than it actually is, and buyers may not feel their things will fit.

5. When you are expecting a showing, go through the house and turn on all lights so your home will look bright, cheery and welcoming. And if you usually like your home a bit chilly, turn the thermostat up just a couple of degrees until after the showing.

6. I don't recommend lighting a wood fire in the fireplace if you will be leaving the house, but if you have an insert or other safer fireplace, and if you will be gone only minutes, you might want to have a welcoming fire. If you will not have a fire, please be sure that the fireplace is cleared of ashes.

7. Since winter weather means that trees are not as leafy, flowers are not blooming and skies are gray, your home might not feel as cozy. Brighten it up with a couple of red throw pillows on the couch, a red tablecloth or place mats on the table, and a few subtle touches of red i nthe other rooms. Nothing overwhelming, but enough to make your rooms seem warmer and cozier.

8. As usual, watch out for clutter. If you have collections, you may want to pack them up until your home is sold. Once you sell and move, you will need to pack them up anyway. This will give the appearance of more romminess in your home, and will keep your prospects focused on the architecture and not your personal items. Also, this will help to protect them from breakage while people are touring your home. The same thing goes for family photos. I once previewed a home for a buyer client where the sellers had 47 framed photos of their wedding on display! I showed it to my buyer anyway, and sure enough - she was so fascinated by counting the wedding pictures that she couldn't remember much of anything else about the house. She counted 48, so she must have spotted a couple that I missed.

9. If you have presents under the tree, it may be best if you keep the smallest and most expensive ones stashed in a dresser drawer or somewhere safe. Most people are honest, but it is better to be safe than sorry. All Realtors I know are sensitive to this, and will do their best to see that their clients behave themselves in your home, but just keep this in mind anyway. Keep in mind that buyers will look in your closets to check their size and features, but have no business looking in your dressers or other furniture that will not be sold with the house.

10. Have a wonderful holiday season. The economy this year has everyone more stressed than usual, so find moments to relax and have some quiet time every day - even if it's just a few minutes. Please understand that none of these tips are meant to upset anyone or hurt your feelings, but are simply tips which may help you to sell your home more quickly and at a better price.

Here comes the annual Christmas in the Village! Sponsored by the Fair Oaks Chamber of Commerce, this special holiday community event will be held Saturday, December 6, 2008. There will be arts and crafts sold during the day. Santa will be at the American River Bank, the Fair Oaks Theatre Festival will sponsor a special free "Winnie-the-Pooh" show at the amphitheater, and an "Old Fashioned" Christmas parade will begin at 4:00 pm, followed by Christmas caroling and the lighting of the Community Christmas Tree.

This is always a fun event, and you can get some of your holiday shopping done, get into the Christmas spirit, and enjoy some good food with your friends and neighbors. The Fair Oaks Veterans Memorial Amphitheatre, located in Plaza Park in the Village, is an outdoor community theatre, so bundle up the kids nice and warm.

The Village is the town center of Fair Oaks. It is just east of Sunrise Blvd, between Winding Way and Fair Oaks Blvd., and Plaza Park is in the center of the Village. American River Bank is at 10123 Fair Oaks Blvd. There is limited parking at the Community Center at the east end of the park, and plenty of street parking surrounding the Village. Call the Fair Oaks Chamber office at 967-2903 for more information.