About Sacramento's Campus Commons

Even though I am just a Sacramento short sale agent, I still follow up on my listings after agents show them. That act seems to surprise some buyer's agents. I guess they think a short sale doesn't deserve the same kind of attention that a regular equity listing does, but that's probably why they are buyer's agents and not a Sacramento short sale agent. All sellers deserve follow up. I send feedback -- whether it's good or bad -- just so my sellers know what's going on.

Yesterday, an agent asked me if her buyer could offer substantially less for a short sale. I asked why. It didn't make sense. The home is priced under market value as it is, and it's an approved short sale. She said her buyer was uncomfortable with falling prices. What? Yeah, prices have been bumping along the bottom for more than a year now. They might even fall a little more. We're not living in high appreciation times. We're not living in times that appreciate at all.

However, I had to tell the agent that if her buyer is afraid of the market, perhaps she's not working with a buyer. Perhaps her "buyer" should not be thinking about buying a home. Not everybody should buy a home. There are reasons to not buy a home. Yet, so many agents run around showing homes and do not realize that they are wasting their time. I think these agents are just so happy that somebody is talking to them, they don't care if the person isn't really a buyer.

If you, on the other hand, can't wait to get your paws on a terrific home in Sacramento, here is a great condo in Campus Commons. It's got 2 bedrooms and a den. One of the bedrooms is an open loft -- a very popular floor plan in Campus Commons. The home was built in 1974 by Robert C. Powell, a guy well known and respected in Sacramento.

The living room features a brick fireplace that separates the living area from the dining room. Large plate glass windows offer gorgeous views of the woodsy and ivy-covered surroundings. The kitchen is open and bright, plus you'll find a breakfast nook to the left of the sliding glass doors to the yard. There is also a den and a guest bath on the first floor.

Upstairs, are the two bedrooms and two more baths. The master suite features a long hall to the bath with dual closets and extra storage. The second bedroom faces the back yard.

The yard is mostly aggregate concrete, but it is huge. Much larger than many yards in Campus Commons. The perimeter offers an opportunity to garden. At one point, the sellers had considered putting in a water feature, and there is a place for it. Of course, this homes comes with a detached 2-car garage. The HOA is $403 a month.

2320 American River Drive, Sacramento, CA 95825, is offered exclusively by Lyon Real Estate as a short sale at $185,000. For more information, please call your Sacramento short sale agent, Elizabeth Weintraub, at 916 233 6759. For a private showing, please call Barbara Dow at 916 761 7398.

Although a bipartisan bill has been introduced to the legislature to shorten short sale approval periods to 45 days, I wouldn't get your hopes up that short sales will be processed faster. Congressmen Tom Rooney and Bob Andrews introduced this bill on April 12th: Prompt Decision for Qualification for Short Sale Act of 2011. I predict banks will write their own rules and slip in loopholes.

In any case, we short sale agents on the sidelines are all clapping. It would be nice if the California short sale addendum default time period came true, but I'm not holding my breath. Instead, I ask buyer's agents to give us 60 or 90 days, depending on the lender. I'd rather be safe than sorry.

Except, this new listing in Campus Commons. This lender is PNC. Oh, I know you're shaking your head reading this, tisk-tsking your tongue, and if you could, you'd probably throw garlic and crosses at me to ward off this vampire. Because let's face it, PNC isn't the best short sale lender out there. OK, maybe some agents would say they are the worst. Not me, though. The one thing PNC does is respond quickly. Right it before it plunges the knife into your heart. But c'est la vie.

Here is a spacious, open, light and airy corner condo in Campus Commons that is offered as a short sale. It has 3 bedrooms -- the master is huge -- and 2 1/2 baths. There is more than 2,100 square feet in this unit. I'm telling ya, huge. The first floor has wood floors mostly throughout.

Upon entry, you are greeted by the living room. It's a room nobody uses but has a built-in wall of cabinets and shelving opposite an entire wall of mirrors. Perhaps you can find a use for this space? Study area? Hobby room? Off to the right is a formal dining area and a super cool kitchen. It's the ceiling lights that are so cool -- retro. The rest of it could use updating. It has a wet bar with a sink. A pass-through to the family room and a ton of counter space, plus a newer Bosch dishwasher.

All 3 bedrooms are located on the second floor, with the master facing Commons Drive and the other 2 on the west side. This unit comes with an attached 2-car garage and two patios. Close to the river, restaurants, transportation and Sac State.

1322 Commons Drive, Sacramento, CA 95825 is offered exclusively by Lyon Real Estate as a short sale at $275,000. For more information, please call your Sacramento short sale agent, Elizabeth Weintraub, at 916 233 6759. For a private showing, please call Barbara Dow at 916 761 7398.

Photos: Elizabeth Weintraub

This hidden community is seeing rental values improve after a bit of a decline in 2009. Nestled up against the American river, near California State University Sacramento--this quiet community has an abundance of properties for savvy renters to occupy. Considering the rents include not only the beautiful properties but also the lakes, pools, tennis courts, jogging paths and more....these properties will always maintain high demand.

James Safonov

jsafonov@homepointe.com

www.homepointe.com