Home Front

A blog about the economy and the Sacramento-area real estate market.

August 24, 2010
Clowns to the left of me, jokers to the right - here I am stuck in a short sale w/you

Sept. 7 UPDATE: Thanks to all who mailed and called regarding this request. Here is the story that ran Sunday, Sept. 5 in The Bee.
Your intrepid Home Front reporter is in early stages of doing the be-all end-all account of the short sale lifestyle that has rooted itself in the Sacramento region. It's an upside down world where little adds up, and where common sense and logic are sometimes in short supply. Yet it's a cornerstone of how houses are bought and sold these days.

I had an enlightening interview this morning with broker Bill Joyce in Roseville, who gives his would-be buyer clients "The Speech." Essentially, he warns them they are entering real estate's version of burning deserts and stormy seas, where they must, above all, endure the punishment and frustration.

I have talked with a couple who lost almost a year of house hunting after getting fixated on a short sale in Natomas that finally went into foreclosure.

I talked with a seller who tried for a year to short sale his house in Elk Grove - and was yanked from the very jaws of foreclosure this month by real estate agents who salvaged a short sale Hail Mary at the last second.

These stories are commonplace in this new market. I'd like to hear a few more - especially what you might have put up with on the journey to finding the good deal you live in now. Or if you are still on that journey I'd love to hear a dramatic tale or two to include in what's shaping up to be a slice of life in our times. Feel free to call 916-321-1102 or drop a line at jwasserman@sacbee.com.

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