Just Sold in Sacramento for $1,175,000…

For this property I just sold in Sacramento, this transaction was a 1031 exchange, the buyer selling a SFR for a multi unit property. This property has 6 units with a possibility of 7. We were lucky in that the seller was willing to accept an offer contingent on the sale of the SFR, which we knew would sell fast, but still not always an easy task convincing a seller to take a sale of home contingency.

The transaction itself was pretty smooth for the most part. This was kind of a flip sale, the seller only owned it about a year, but did a lot of work to the property and then filled it with tenants. He initally wasn’t planning to sell so soon, but apparently, the more work he did, and the longer he was a landlord, he decided to sell. We expected that the home and termite inspectons would go really well, since he is a contractor, and had done a lot of work, but we were a little surprised at how much work still needed to be done as well as some things we felt he kind of cut corners or didn’t complete how we would hope for.

We did go back and ask for some repairs to be done by him, he did some of the items, not all that we asked for, but we negotiated back and forth until we came up with something both parties could agree on.

Overall, it’s a great property, at a great price, and great rental opportunity. There was more work to be done than anticipated, but still a definite win.

Just Sold in Sacramento for $1,175,000

Just Sold in Sacramento for $1,175,000

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Just Sold in San Jose for $1,215,000…

For this home I just sold in San Jose for $1,215,000, I was the agent for the seller who was doing a 1031 exchange. There were multiple offers for this home and the 2 top offers were basically the same in price and terms which made it so hard to choose.

They both basically wrote the same offer, same price, same terms, both great buyers, both really wanted the home, so we went back to both buyers and let them know it was literally just a coin toss, and they both came back with an even higher offer! It ended up that 1 buyer came in $5,000 higher than the other, so since they were both equally great buyers, we just went ahead with the buyer that offered the extra $5,000. The transaction itself was super smooth and seamless.

Just Sold in San Jose for $1,215,000

Just Sold in San Jose for $1,215,000

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Just Sold in Fremont for $1,615,000…

For this home I just sold in Fremont for $1,615,000, I was the agent for the buyers, who were referred to me by clients that bought a home with me 20 YEARS AGO! Wow! So cool when I am able to maintain such longterm relationships with my clients. It’s so heartwarming! Love it!

The search for a home was a long journey in that the market is just so hot and competitive, and inventory is so low, so for all the homes they really liked, all had fierce competition.

We then found an opportunity for a new build and went into contract for that home, that was going well, and the buyers were excited, UNTIL under more investigation and as the home was being built, they noticed that the back yard was not as big as they expected it to be. So, we inquired with the agent and come to find out, part of the lot was BEHIND the concrete wall and on the hillside to the road! We were like….WHAT??? Part of the lot is not even usable? Seems pretty shady. So, they bailed on that home and we were back on the hunt.

When they found this home, the competitiion was again fierce, and they went all out with a very competitive offer and we got it! The transaction itself was super smooth and seamless. It was so exciting to finally find a great home in a great area and have such a smooth transaction to end their search.

Just Sold in Fremont for $1,615,000

Just Sold in Fremont for $1,615,000

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Just Sold in Milpitas for $1,500,000

For this home I just sold in Milpitas for $1,500,000, I was the agent for the buyers, who were referred to me. This was a long journey, with a combination of the market continuous price increases ever since their search started, very low levels of inventory, very high competition levels when they liked a home, the key concentraction on a small area, just a number of factors that finally all came together with this home, after over a year of searching for the right home, in the right price range, and in the right location.

Even with this home, competition was fierce with multiple offers. The buyers really stepped up their game for this home, and we got it! Yay! The transaction itself was quite smooth and seamless. The search was way more challenging than when they finally locked in a home.

Just Sold in Milpitas for $1,500,000

Just Sold in Milpitas for $1,500,000

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Just Sold in Fremont for $873,000

For this townhome I just sold in Fremont for $873,000, I was the agent for the buyers, who were referred to me by clients who also bought a townhome with me. At this price point, the market is crazy hot and competitive, so I was very hopeful to get this townhome because it was so perfect for them and it’s so hard to find a home in this price range because inventory is just so low.

This sale felt like a HUGE blessing! It’s a beautiful townhome, has a really nice yard, and a very nice area. This was the very FIRST offer my clients had ever written. They had only seen a handful of homes, and just really fell in love with this one. The pressure was really high because I knew that this was such a perfect match and I also knew how hard it was to find such a great place at this price point, that I really hoped to lock it in.

There were 15 offers! Yes, 15 offers on this home! And, WE got it! Praise God! Seriously! That is CRAZY competition and to actually beat out 14 other offers and have it be a buyer that has never written an offer before and be the very first offer and actually get it against that much competition, that’s just amazing!

The transaction itself was quite smooth. All went well. As much of the time, the banks are overloaded, so when it comes to the loan, it always seems to be the last minute rush to close, which was the case here as well. But, overall, it was a very good transaction.

Just Sold in Fremont for $873,000!

Just Sold in Fremont for $873,000!

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Just Sold in San Francisco for $1,208,000

For this home I just sold in San Francisco for $1,208,000, I was the agent for the buyer, who was referred to me by another client. Wow, talk about luck! We looked at only 3 homes, and he bought this one! This was his very first offer, there was NO competition, he got the home for UNDER the listed price, and the home appraised for OVER what he paid! What a nice break from the usual!

This home is a flip home being sold by investors, and it is practically like new inside with an amazing view! Super cool place! And, the sellers were so easy and accomodating to work with and even did some touch ups at closing to ensure the home was in tip top shape.

The transaction itself was super smooth and seamless. So refreshing!

Sold in San Francisco for $1,208,000

Sold in San Francisco for $1,208,000

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Just Sold in Los Gatos for $1,350,000…

For this townhome I just sold in Los Gatos for $1,350,000, I was the agent for the sellers. This is our FOURTH transaction together over the years and I actually sold this townhome to them as buyers over 10 years ago.

Talk about timing…when we initiated the discussion of selling this townhome, they had tenants living there. And, at that time, it was a bit before COVID started to become a hot topic. But, at that time, townhomes were selling for high prices in the community and still moving.

As weeks went on, shut downs were starting to happen and news was getting more intense. The renters found a place to move, and at that point, weren’t interested in staying, since the idea was to sell this home. Although, as COVID was the news, we thought it may be good if the tenants would just stay and put this idea on halt.

Well, the tenants moved out because they had already found another home, and since the place would be vacant, went ahead with the plans to sell. However, by that time, this community had practically come to a complete halt, and nothing was selling at all. There was another listing that was the exact same model and even same street, just doors away that was just sitting on the market with no activity at all.

At this point, the complete shut downs were happening, that mid March timing, when contractors could not even go do work, and when even us realtors could not show homes. Once the tenants were out, we actually had to wait for some time until the contractors were able to work again. So, we just kind of waiting around a bit.

And, all the while, the other listing was sitting there, as well as a few others. Once we were ready to list the home, there were quite a few  others on the market as well in the same community, and really the only way to differentiate ourselves was price, to list at an aggressive price under the other listings, to spark something.

And, it worked! We had an interested buyer within days of listing the home who was very interested in buying, but needed to do a 1031 exchange. And, to our misfortune, at that time, the rentals in the community were tapped out. My clients could still rent out their home, but if they were to sell, the buyer would need to live their as their primary residence, because there was a waiting list to rent. What a major buzzkill to say the least! Trust me, we tried to see if there was any way this buyer could still buy, but nope, wasn’t going to happen.

We then really had no other serious interest at that point, and more inventory came on the market as competition, plus, other homes stole our idea and lowered their pricing too, in order to compete with us. The other downside that seemed to be an issue in this COVID environment when it was all new and scary, were that buyers seemed to be backing off due to the high HOA dues of $760/month. It didn’t seem to be much of an issue before COVID and when the market was super hot, but buyers seemed to be more conservative and really looking into all factors and seemed more cautious about this community due to the high HOA dues.

At this point, there are a LOT of homes in the community for sale, basically, none of which were selling, unless there was some unique feature to it, like on the view side, or something that just really stood out as a big difference. Otherwise, there were PLENTY to choose from, all of which competing with eachother. So, we made one last effort to lower the price to differentiate ourseives yet again, and hit yet another price point that additional buyers would fit into, and that worked!

We received an offer shortly after that price reduction. A buyer that waived ALL contingencies (loan, appraisal, and inspections) and we grabbed it! Once we went pending, a few of the other homes also reduced their pricing similar to ours, so thank God we did it first, to grab the next buyer looking in the lower price range, before we had more competition yet again, with homes similar in price.

The transaction itself was decent, a little bumpy only because the buyers didn’t seem to understand they bought in ‘as is’ condition and kept going back to the property, time and time again, to find one thing after another, to ask the seller to fix, want a credit, etc, etc. I was personally kind of baffled as to why they didn’t see all they needed to see before they made the offer, and they also had all the inspection reports as well. The various trips back to the property to report additional items every time they went, was a little troubling, but we got through it. They wrote an offer with NO inspection contingency and in ‘as is’ condition, so I don’t really get why they kept going back and asking the sellers to address anything. And, to top it off, the requested items were just so small and picky. I didn’t get it, but…we got it done! Meanwhile, to this day, there are still quite a few of the other townhomes sitting on the market in this community, so I am VERY thankful we got this home sold!

Just Sold in Los Gatos for $1,350,000!

Just Sold in Los Gatos for $1,350,000!

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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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Just Sold in Saratoga for $900,000…

For this condo I just sold in Saratoga for $900,000, I was the agent for the seller. I have now sold this very same condo 3 times! The condo market is definitely not as hot as the SFR market, so it’s a little more questionable for how things will go with a condo in this COVID world we live in. Fortunately, there was a buyer that really loves this community, and was actually waiting for another condo to pop up, so we likely got lucky in that sense. Once we listed the condo, the buyer made an offer right away, and based on the overall activity and such, we felt it was best to take the bird in hand and not mess around.

This buyer was super solid, large down payment, made an offer over the list price, and waived ALL the contingencies (loan, appraisal, and inspections).

The transaction itself was super smooth…until it wasn’t…towards the very end of the transaction, the seller got a letter from the HOA that they noticed the sellers had hard flooring and are an upstairs unit, which does not comply with the HOA rules and regs. Well, firstly, in the community there are a number of upstairs condos with hard flooring, AND for this particular unit, the ONLY hard flooring is in the entry and hall, and is a VERY small part of the overall flooring.

Secondly, this owner did NOT even install the flooring, they bought the condo this way. Not only that, but even the previous owner did NOT install the flooring and bought it the same way. The flooring was put in over 8 years ago and 3 owners ago. Apparently, the HOA was looking at online pictures of the inside of units while they were on the market and that’s how this all came about. They never even had a complaint from the downstairs owner.

So, there was a lot of back and forth about this flooring issue, which probably takes up maybe 4% of the overall flooring and never a complaint from any other owner or neighbor, just the HOA actively seeking out violations on the internet. Wow!

The owners were able to get an emergency board meeting, since we were seriously close to closing the transaction. This notice came very close to the closing of the sale, so the timing was really crazy. And, the HOA decided to let the flooring stay as it is, as long as the neighbor below has no complaints. We talked to the neighbor below and she had no issue with the flooring and even advocated for the sellers that it was no problem for her.

So, in the end, after all of the back and forth, and this notice coming out of nowhere just maybe a week before the transaction closing, the end result was to do nothing and just let it be.

Most people don’t even read all of the rules and regs of the HOA docs, especially to the level of what type of flooring is permitted. And in this case, this condo had been passed on from owner to owner now 4 times (to include the most recent buyer), without any of them even aware there was an issue until this came up. There are currently a number of upstairs units with hard flooring in most of the space, so it’s a rule that not too many seem to be aware of. But, now I know…and NOTED!

Sold in Saratoga for $900,000

Sold in Saratoga for $900,000

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Just Sold in Livermore for $680,000…

For this home I sold in Livermore for $680,000, I was the agent for the seller. This was our 2nd transaction together. This sale was a JOURNEY to say the least! A major roller coaster of the worst kind!

I listed this home back in early March, in which the word on COVID was just starting to hit the news. I listed the home the weekend before COVID became big news, but the concern was circling. I held an open house the very weekend before the Shelter in Place happened on March 17th, having no idea at the time that something called Shelter in Place was even a reality!

At the time, since this thing called Coronavirus was in the news, and people were nervous for good reason, the open house was very slow and hardlly anyone showed up. Usually an open house will generate a buyer, but not in this case, due to the COVID situation. Come the very next Tuesday, Shelter in Place happened, at which time, this listing went completely ice cold, in that no one could view the home in person.

Initailly, when Shelter in Place first went into effect, everyone stayed home, nothing could really happen. So, essentially, we weren’t going to be able to sell this home, if no one could view it. Then things lightened up in which buyers could see vacant homes. This listing was occupied by the owners, and they were not in a position to move out so that the home could be vacant for showings. So, basically, again, it just sat there, ice cold, since no one could come view it.

Then May 4th came along, in which guidelines were loosened a bit more, and occupied homes could be viewed under strict circumstances. So, basically from mid March until early May, this home just sat on the market and no one could view it in person.

Come May 4th, I started to get phone calls and showings, and within days, we had our buyer! This buyer needed to sell her condo in order to buy this home and the transaction was contingent on that sale. The buyer was willing to pay OVER the listed price if we would work with her through it.

The buyer already had a buyer for her condo and was about to go into contract. So, we felt pretty good about the situation, plus the seller was not in a hurry to move at the time, just as long as our transaction was solid.

The transaction itself was smooth between the seller and our buyer, but was a mess for the buyer that was buying our buyer’s condo. It was just one thing after another for the condo buyer and the transaction just lagged, and lagged, and lagged on for weeks.

Our parties were ready to close on time, but our buyer’s buyer had all kinds of delays and such with their loan. Their loan was just one delay after another and it was maddening and held up our transaction.

We were confident both transactions would close, but it was a matter of when, and in the meantime, just the day to day question of when is this going to happen? We had multiple extensions but finally got it closed.

Just Sold in Livermore for $680,000!

Just Sold in Livermore for $680,000!

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