Category Archives: Morgan Hill

Just Sold in Morgan Hill for $1,420,000…

For this home I sold in Morgan Hill for $1,420,000, I was the agent for the sellers, who were referred to me by another client that I sold a home to many years ago! And, this home happened to be in the same community and walking distance to another home I sold to my friends about 10 years ago!

The home itself is gorgeous and immaculate! We had a cash offer the very first day it was listed within just a couple of hours! It was a little too soon, in that we planned for an open house weekend and to make sure that there was an opportunity for all buyers who were interested to have a chance to view the home and make an offer. We were really prepared to accept an offer within hours of being listed.

I had explained to the buyer’s agent prior to receiving the offer that the seller was adament about continuing with the open house weekend and ensuring that all interested buyers have a chance to make an offer. But, these buyers and agent were quite agressive and sent the offer to us anyway.

It was a great offer! The price was over list price, ‘as is’, 2 week closing, 2 week free rent back, ALL cash, waived ALL contingencies. It was a pretty golden offer, but there was just that question for what was the right strategy in this situation since they were the very first buyers to see the home on the very first day it was listed.

The sellers decided to take the gamble and tell the buyers they really did want to continue with the open house weekend before making a final decision on their offer.

We held the open house weekend, and the buyers waited, and they ended up being the best offer after the open house weekend. Even though they were still the best offer, it was good to play it out just to make sure and not have the lingering question of if the sellers made the right choice. So, it worked out well. The buyers still got the home and the sellers didn’t have to question their decision for what to do on the very first day.

The transaction itself was super smooth and seamless.

Just Sold in Morgan Hill for $1,420,000!

Just Sold in Morgan Hill for $1,420,000!

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Just Sold in Morgan Hill for $1,275,000

For this home I sold in Morgan Hill for $1,275,000, I was the agent for the sellers, and this is our 2nd transaction together! Historically, this general neighborhood doesn’t have ‘quick sales’, in that it’s pretty far out in Morgan Hill and the more rural area. For years, buyers have wanted the shortest commute possible, so this area in Morgan Hill has been more of a niche market. Homes often sit on the market for even up to a year.

Well, times have drastically changed largely due to COVID. Buyers want to stretch out and roam and do not seem to care as much about commute and being close to work. This home was HOT and there was a lot of interest in this home. It even surprised me! I told my clients that once I listed the home for sale, likely there would be the most action on the weekend. I knew we would get the home sold quickly, but I didn’t expect SO much interest and so quickly.

Well, to my surprise and theirs, as soon as I listed the home, I had calls to show the home that very day! It was incredible! We knew we priced the home very well, but we still did not anticipate this type of action. The sellers weren’t even sure we would get it sold quickly at all. But, things went very well indeed!

We had interest and offers within days. We debated over continuing to show the home or just go ahead with the buyers eager to buy the home. The sellers decided not to hold off and continue to show the home to more potential buyers, and take the bird in hand, since it overall was a good offer and buyers that really loved it.

The buyers that made an offer wrote a very lovely letter and their extended family was going to also live close by. So, it just seemed to be ‘the one’ for these buyers and their letter was partly the slam dunk because it just seemed so right for them.

We went into contract at a time when the interest rates were very good and the banks were inundated with purchases and also refinances. So, that made our transaction a bit stressful.

The buyer agent was very aggressive with the loan contingency removal, to do it in only 7 days, but he said that he put that in the contract because that’s exactly the time he needed for another transaction he recently did. Well, I guess in that time, times really changed for how long the bank needed to approve a loan and close it.

So, the main ‘stress’ to the sellers for this transaction was the unknown of getting the loan approved. It just dragged on and on, although, in the end, we were able to close on time. But, just the daily and weekly checking in with the loan officer, who seemed to really have no info on when this would get done, was the main issue of this sale. It was practically an every day follow up with the loan officer asking for updates and when we would get the green light. The other aspects of the sale went very smoothly.

Just Sold in Morgan Hill for $1,275,000!

Just Sold in Morgan Hill for $1,275,000!

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