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About Me
Broker-Associate at Lyon Real Estate in Sacramento. In industry since 1974. Short sale agent. Represent buyers & sellers in Land Park, Curtis Park, Midtown, Dtwn, East Sac, Carmichael & Pocket area south to Elk Grove.
Elizabeth Weintraub is the Home Buying & Selling Columnist at About.com, which is owned by The New York Times.
The Short Sale Savior, by Elizabeth Weintraub, available at bookstores everywhere and Amazon.com
Elizabeth Weintraub is the Home Buying & Selling Columnist at About.com, which is owned by The New York Times.
The Short Sale Savior, by Elizabeth Weintraub, available at bookstores everywhere and Amazon.com
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""Elizabeth is a professional. I trusted her ability and her experience. She is organized and follows up as promised.""
Michelle Badal Wed May 7, 2008
Michelle Badal Wed May 7, 2008
""Elizabeth, you are beyond wonderful . . . I have no idea what I would do without you. You not only earn your money with 24/7 service, you earn it ten times over.""
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Tina Howell Wed May 7, 2008
""We were very fortunate to have Elizabeth as our Realtor for both buying and selling our homes. She is outstanding in all phases of real estate transactions, knowledge and customer service.""
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Diane & David Delgado Wed May 7, 2008
My Q&A
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Elizabeth We…'s Answers (341)
Elizabeth Weintraub answered:
Are you talking about Proposition 60 that allows you to transfer your property tax base to a new home, providing that home costs less than your present home and one of you is at least 55 years of age? As long as that new home is in the same county, you should be able to do that.
It's particularly helpful if you've owned your home for a long time and are assessed at a very low amount. Instead of paying taxes based on the new sales price of the new home, you can take your existing tax basis with you.
Proposition 90 lets you transfer that tax base to a different county as long as that county will let you. So, if you're moving to a new county, check with that county tax assessor's office to see if you are eligible.
It's particularly helpful if you've owned your home for a long time and are assessed at a very low amount. Instead of paying taxes based on the new sales price of the new home, you can take your existing tax basis with you.
Proposition 90 lets you transfer that tax base to a different county as long as that county will let you. So, if you're moving to a new county, check with that county tax assessor's office to see if you are eligible.
Elizabeth Weintraub answered:
I hope it wasn't these guys who took advantage of your parents. Attorney General Jerry Brown is suing this company: http://ag.ca.gov/newsalerts/release.php?id=1763
That comes directly from the office of the California Attorney General, which also contains more information about how to protect yourself from so-called loan modification companies.
That comes directly from the office of the California Attorney General, which also contains more information about how to protect yourself from so-called loan modification companies.
I'm so sorry to hear that, Julie. If it's any comfort, I hear the same story over and over from people victimized by those loan modification specialists. Those people can't do anything for a home owner that a home owner can't do for themselves and, unfortunately, loan modifications don't always work out.
Have your parents considered doing a short sale? At least that would postpone the trustee's sale for a while, assuming the Notice of Default has already been filed. If you need help with short sales, they have become my specialty.
As for senior housing in Sacramento, I really don't know off the top of my head. I know there is senior housing downtown. Perhaps you could check with the Sacramento Housing Redevelopment (SHRA) to find out if there is a waiting list.
Have your parents considered doing a short sale? At least that would postpone the trustee's sale for a while, assuming the Notice of Default has already been filed. If you need help with short sales, they have become my specialty.
As for senior housing in Sacramento, I really don't know off the top of my head. I know there is senior housing downtown. Perhaps you could check with the Sacramento Housing Redevelopment (SHRA) to find out if there is a waiting list.
Elizabeth Weintraub answered:
I would advise your friend to stay away from companies that promise to help him do a lease option purchase. These types of transactions often hinge on a future appreciated value, which may or may not happen, and your friend may end up forfeiting his option money if he doesn't exercise the option.
The homes I have seen sell through a lease option are often priced much higher than market value and are not contingent upon an appraisal. Lessees typically pay a higher rental amount, too, with a portion of that amount supposedly to be credited toward the down payment at a future date. If the company dissolves or files bankruptcy, that option money is gone and so is the extra principal paid toward equity.
I would strongly suggest that your friend hire a lawyer to review all documents in such a situation and never sign a single page without first obtaining legal advice.
The homes I have seen sell through a lease option are often priced much higher than market value and are not contingent upon an appraisal. Lessees typically pay a higher rental amount, too, with a portion of that amount supposedly to be credited toward the down payment at a future date. If the company dissolves or files bankruptcy, that option money is gone and so is the extra principal paid toward equity.
I would strongly suggest that your friend hire a lawyer to review all documents in such a situation and never sign a single page without first obtaining legal advice.
Elizabeth Weintraub answered:
The California Association of REALTORS says the wait to qualify for a conventional loan is 5 years after a foreclosure, with restrictions. Without restrictions, it's 7 years. FHA requires 3 years.
If your friend lost his primary home through a short sale, the wait is 2 years. However, if this person was current on his mortgage payments, Fannie Mae guidelines say he may qualify to buy another home immediately.
If your friend lost his primary home through a short sale, the wait is 2 years. However, if this person was current on his mortgage payments, Fannie Mae guidelines say he may qualify to buy another home immediately.
Elizabeth Weintraub answered:
Oh, there are so many to choose from. Perhaps my favorites are roses and coneflowers. But I also really like gerber daisies. They don't require a lot of fussing and are somewhat drought tolerant, too.
My Listings
View all 28 listings
Specialties
FIRST-TIME HOME BUYERS, SHORT SALES, FORECLOSURES, LAND CONTRACTS, LISTING SPECIALIST FOR LAND PARK, EAST SACRAMENTO, MIDTOWN, POCKET, SOUTH LAND PARK
Experience
Latest:
BROKER-ASSOCIATE for LYON REAL ESTATE
REPRESENTING HOME BUYERS & SELLERS IN SACRAMENTO
September 2002—present
Previous:
PRESIDENT for EQUITY ENHANCEMENT
PROVIDING SELLERS WITH REPAIR ESTIMATES AND STAGING TO MAKE THEIR HOMES MORE MARKETABLE.
ALSO, BUYING & SELLING INVESTMENT PROPERTY FOR MY OWN ACCOUNT
September 1990—September 2002
Previous:
BROKER - OWNER for REAL ESTATE OF AMERICA
REPRESENTING HOME BUYERS AND SELLERS IN ORANGE COUNTY, CALIFORNIA. PROVIDING COUNSELING AND INVESTMENT ADVICE.
September 1978—September 1990
Previous:
ESCROW OFFICER for STEWART TITLE
PROVIDING ESCROW SERVICES FOR HOME BUYERS AND SELLERS.
September 1976—September 1978
Previous:
TITLE SEARCHER for FIRST AMERICAN TITLE
SEARCHING TITLE TO PROPERTY FROM US PATENT FORWARD
September 1974—September 1976
Certifications & Awards
MASTER'S CLUB CONTINUING MEMBER
EXECUTIVE ASSOCIATE STATUS AT LYON REAL ESTATE
CERTIFIED IN REAL ESTATE
CERTIFIED IN ESCROW
EXECUTIVE ASSOCIATE STATUS AT LYON REAL ESTATE
CERTIFIED IN REAL ESTATE
CERTIFIED IN ESCROW
Interests
BUYING & SELLING REAL ESTATE
HIKING
PHOTOGRAPHY
WRITING
GARDENING
PETS
REMODELING HOMES
HIKING
PHOTOGRAPHY
WRITING
GARDENING
PETS
REMODELING HOMES
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