Just Sold for $7,700,000 in Los Altos Hills…

Leave a reply

For this home I sold in Los Altos Hills for $7,700,000, I was the agent for the buyers. This is our THIRD time working together, and they have also referred me a number of clients over the years. I so greatly appreciate their support of my business over so many years!

We negotiated for weeks for this home. The seller initially was determined not to sell this home for under $8m, and the buyers were pretty set on the max price they were willing to pay. We weren’t very certain this deal would ever come together for price and terms that both buyer and seller could agree on, but with patience and persistence, and the fact there were no other buyers bidding on this home for a higher price, we managed to chisel the price down from the seller’s ‘minimum’ price to a price that the buyers were willing to pay. This home had been in contract for a higher price with another buyer, but the deal fell through, and the seller was having a hard time taking a price under what it had been in contract at with the other buyer.

Something that was very important to the buyers was that they will be able to build a pool and that the cost would not be outrageous, since the property is sloped where they would want the pool to be built. After 25 years as a realtor, I am still learning!!!! Go figure! Wow, building a pool is no joke! We had to get a Geotechnical report just to see if a pool could be built in that location, and that ain’t cheap! Plus, all of the grading, permits, pre-work, the actual pool construction, access to the site, etc, etc. I worked on the pool information practically every day during this entire transaction to get all the info needed in regard to simply (or what I thought was simply) building a pool.

We did have a bit of a surprise toward the end of the transaction, in which the loan officer wasn’t giving the buyers the warm and fuzzy to remove the loan contingency. She would verbally tell both of us that the loan was fine and basically approved, but would not put anything legitimate in writing, and also would tell us that the file wasn’t officially approved by the underwriter. She would say not to worry, but then not really follow through with some things in regard to the loan, so it made the buyers nervous to remove the loan contingency, since they weren’t quite sure if they could trust her, and being that this is such a large amount of money at risk, decided to wait for the final loan approval which took a couple more days past the loan contingency. It was fine, and the seller understood their dilemma, but it made for some stress at the end, just not really having 100% confidence in the loan officer.

Lastly, we closed this transaction not even a week before the huge news broke out about the virus and the Shelter in Place orders took effect. The news was out, it was becoming more and more prominent each day. In fact, one of the sellers was in CHINA of all places, and the American Consulate was closed, and the seller had to jump through all of these hoops to even sign his papers and FedEx over to America in time to record the sale per the contract. We were literally counting hours at that point, because in China, things were already going on lockdown, or in lockdown, so we were uncertain that the seller could even get the docs signed and over to us in time to close on time. Thankfully, he was able to get it done, and we did, indeed, close on time.

So, this was quite a roller coaster ride…and the timing was just totally surreal. Life was just moving right along in the beginning of this transaction, and then toward the end, the news of the virus starting to become more and more prominent, day by day, things were changing, and all of the sudden things started changing quickly every single day. Unbelievable!

The good news is…this is an incredibly beautiful forever home on a very private and serene property…so this is an amazing home to Shelter in Place with no need to leave…a home that you don’t even want to leave…no doubt!

Just Sold in Los Altos Hills for $7,700,000!

Just Sold in Los Altos Hills for $7,700,000!

1,935 total views, 8 views today

Just Sold in San Jose for $1,170,000

Leave a reply

For this home I sold in San Jose for $1,170,000, I was the agent for the sellers, who were referred to me by another client. I sold this home before any news of the Coronavirus and the market was quite hot at the time. We had multiple offers and high levels of competition for this home. The sellers actually met these buyers when the buyers went through the home and made a good connection with them. The buyers also wrote a very heartfelt letter, and it really did make a difference, in that the sellers really wanted to sell their home to this particular couple. The buyers offered well over the listed price, waived contingencies, and gave the sellers a FREE rent back. The transaction itself was very smooth and everything went very well. Both parties were very excited to work together and it was just a wonderful experience for all involved. I am sure my clients are quite thankful that they got their home sold before this global crisis took place. They are likely thanking their lucky stars!

Sold in San Jose for $1,170,000

Sold in San Jose for $1,170,000

958 total views, 2 views today

Just Sold in Newark for Over $1,400,000…

Leave a reply

For this home I sold in Newark for over $1,400,000, I worked with the buyers, who bought a home with me a number of years ago and initially wanted to buy a home in a top rated school district, and we looked for many, many, many months in top rated school areas, which are very competitive. They are also very specific in regard to the floor plan and direction of the home, so it was a very long journey of not only finding the right homes, but also the right schools, and then dealing with  the high levels of competition for those that were actually a fit. After many, many, many months of searching and such, they completely flipped the script and decided to buy in a brand new community of Newark, so a complete 180 of the search for top rated schools. The transaction itself was pretty typical for buying in a brand new community, so nothing really noteworthy to say about it. This picture is not of the actual home, it’s just a model from the community as an example.

Just Sold in Newark for over $1,400,000

Just Sold in Newark for over $1,400,000

1,428 total views, 3 views today

Just Sold in San Jose (Willow Glen) for $1,530,000…

Leave a reply

For this home I recently sold in San Jose (Willow Glen) for $1,530,000, I was the agent for the buyers, who are repeat clients, and this was our 4th time working together! I am still a bit behind in my stories, so this home sold before the New Year. And, in fact, we went into contract when the market was starting to change, but still on the slow side. A time when some areas were getting multiple offers, but mostly only in the best school areas, and homes in this area were not selling as quickly, or with multiple offers. So, it was right before the brink where things were starting to change, and then did end up changing pretty drastically just maybe a month later.

But, for this particular home and location, we were the only offer. In fact, the buyers made an offer soon after the home was listed, and we practically got flat out got rejected, because my clients had a home to sell in order to buy, and due to the market at that moment, the seller was too nervous to take an offer from a buyer who had to sell a home.

We actually went back and forth on price and terms for weeks! It was crazy! And, all that time, no other offer came in and we were the only offer on the table all of that time. In the end, my buyers decided to waive the contingency to sell and bought with NO contingency to sell, and as the upside for agreeing to that, the seller sold the home at a far lower price. The seller preferred to sell at a lower price and NOT have a contigency to sell, rather than get top dollar, with the risk of hoping the buyers could pull it off and sell their home.

So, the buyers ended up getting a better deal on the price, but the sacrifice was to have to buy without selling their home, at least as a contingency.

It seemed as if things were just a little rocky from the get go, starting with weeks of negotiations and going back and forth on price and terms, having a contingency to sell, and not. It was one of the longest negotiations I have had, to the point where the seller would not even respond to our offers or counters, and then days would go buy, and we would finally get some news.

And, that sentiment just kind of continued for the entire transaction once we were able to get into contract, just a bit off for one thing or another, not very smooth, but not to the point where they both wanted to part ways. The buyers also noticed that there was more damage to the exterior than what the termite inspector had reported, so they had an additional inspection to check it, and indeed, there was more damage than reported, which sparked yet another round of negotiations back and forth and my buyers got yet an even better price to make up for that addtional damage that was missed the first time.

Overall, we muddled through it and got through the rocky roads and in the end, the buyers were happy to get a good deal on the home and close on a home in the neighborhood she has wanted to live in since childhood. She was only looking for basically one floor plan in a very small area in which she has always wanted to live, so even though there were highs and lows…she now lives in her dream floor plan and neighborhood!

Sold in San Jose for $1,530,000

Sold in San Jose for $1,530,000

2,862 total views, 4 views today

Just Sold in Los Gatos for $1,875,000

Leave a reply

For this home I sold in Los Gatos for $1,875,000, I was the agent for the sellers who found me online. I’ve been quite busy, so I am a little behind in my stories, and this home was sold at the end of last year, when the market was heating up, but not super hot yet. At that time, the market was still transitioning, it had been on the slow side for some time, but it started heating up in Nov and continued through Dec and just kept getting hotter since.

It was hard to say how things would go in this transitioning time in that the home was on the corner of a very busy road, and we just were not sure how that would impact the sale. The home and lot itself is beautiful and the schools are great, but we weren’t quite sure based on location, how many buyers would buy on the corner of this busy street. Action was good and we did get some very interested parties and a great offer from a family quite similar to the family that owned the home, who just fell in love with the home and made a very strong offer, and the sellers accepted it.

The transaction itself was overall smooth. There was a rush to the end due to the lender getting the loan finalized on time, but the buyers were still able to manage to close on time. The buyers paid OVER the list price and removed ALL contingencies with their offer. So, it was a very solid offer.

The only hiccup, that we were able to get through in a timely manner, is before we listed the home, we had inspections done on the home. The seller had done a ton of work to the foundation and the home inspector felt there was some more work needed. Luckily, the foundation guys came out quickly, and all was good. It was a rush to get the home prepped and all the work done, but all the ducks lined up perfectly, and we were able to get it all done in a timely manner and worked out.

Just Sold in Los Gatos for $1,875,000

Just Sold in Los Gatos for $1,875,000

 

1,082 total views, 3 views today

Just Sold in San Jose for $888,000…

Leave a reply

For this townhome I recently sold for $888,000 in San Jose, I was the agent for the buyers, who were referred to me by another client, who was their sister, and in the process of buying a home at the very same time! How cool is that??

This sale happened when the market was just starting to turn and getting warmer, it was not hot yet, but the feeling was in the air that things were picking up. The market had been cooler for some time, but things were just starting to heat up and the timing for this sale could not have been better for the buyers.

We were the only offer on this townhome and we got the home not ONLY for UNDER the list price, but the buyers also paid UNDER the appraised value! Big time score! The timing was just so lucky, in that if it was just even one month later, I think they would have competed for this home and paid much more for it.

The transaction itself was smooth and seamless. And, now they live just minutes from their sister, who also bought a home with me and closed within about a week of eachother.

Just Sold in San Jose for $888,000!

Just Sold in San Jose for $888,000!

1,308 total views, 4 views today

Just Sold in San Jose for $1,405,000…

Leave a reply

For this home I sold in San Jose for $1,405,000, I was the agent for the buyers, an awesome couple, who were referred to me by another client. The market was in the midst of changing from not so hot, to getting hotter, when this home came up for sale, in which some homes weren’t selling right away, or maybe getting 1 offer, and some homes were going pretty fast. For this home, it was a hot home. It is a great home, in great schools, and a great neighborhood, so there was a lot of interest.

We competed with about 5 offers, my clients wrote an amazing letter to the seller, which DID help us to get the home, coupled with my begging, pleading, and every negotiation skill I could ponder up with the listing agent. 🙂 We were not the highest offer, but the listing agent/seller gave us a second chance to come up to a price and terms that would be competitive with the top offer and we were able to lock in the home! Yay!

To lock in this home, the buyers had to pay well over list price and waive ALL the contingencies (loan, appraisal, and inspections). It was a very competitive bidding process, mainly due to the top rated schools, so buyers really wanted this home.

The transaction itself went very smooth and the buyers were excited to close the transaction and start making the home their own.

Just Sold in San Jose for $1,405,000

Just Sold in San Jose for $1,405,000

1,087 total views, 3 views today

Just Sold in Los Gatos for $2,200,000…

Leave a reply

For this home I just sold in Los Gatos for $2,200,000, I was the agent for the sellers, who were referred to me by a client I have worked with 2 times in the past, and a family member to the sellers. This home had been in the family for many years, I believe about 60 years, the sellers grew up in this home, so as you can imagine, it was a very emotional sale for everyone involved. The owner of the home passed and that was the reason for the sale. The sellers are siblings and such amazing people, they were such a pleasure to work with for the sale of their beloved home. It was so amazing how well they get along and worked together. They have such a great relationship, so heartwarming.

The market was slowly, but surely changing, so that was on our mind. We priced the home at what we all felt was a really good price for the home. The home is super unique, the location is amazing, walking distance to downtown Los Gatos, Daves elementary, Vasona Park. And, the lot is HUGE and so serene. The house itself is very unique, it’s not the type of home for all, but if it’s the type of home for you, there is instant love there. So, the big question of the day, since we knew location and lot size was superb, was more a matter of how many buyers would fall in love with this unique home.

We ended up with 3 offers for this home, all of which were below the listed price. I was a bit surprised the home did not reap at minimum list price, but at the same time, I realized the home itself, as amazing as it is, was really for the right buyers. And, it also needed TLC. The bones are great, but it has not been updated for decades, and these days, most buyers like a more modern look and remodeled homes and such.

The transaction itself was a little rocky. Once we were in contract, it seemed as if the buyers didn’t care about contractual dates, so I was constantly chasing down the buyer’s agent to keep things rolling and contingencies removed and such. And, response time from the buyer’s side was very slow, I often felt that I was being ghosted, unless there was something that the buyers wanted, and then all of the sudden things turned into now, now, now.

So, it got a bit draining to have the buyers go MIA and lag and have to continuously chase things down for the contractual obligations. And, then to appear out of nowhere and want something immediately. But, we managed to roll with the punches and get it done.

It was a bitter sweet moment to have the closing a success, but the end and closure of the ownership of the home for my clients, who had so many memories for so many years. When the home closed, I almost cried with the seller. It was a happy, but also emotional time.

Sold for $2,200,000!

Sold for $2,200,000!

1,157 total views, 3 views today

Just Sold in San Jose for $1,449,000…

Leave a reply

For this home I sold in San Jose for $1,449,000, I was the agent for the buyers. This is the 4th time I have worked with these clients over the years! The purchase of this home was contingent of the sale of their townhome, which didn’t exactly go as expected, but we got it done. Coordinating the purchase of this home with the sale of the townhome was a bit of a balancing act, but in the end, we were able to get the 2 lined up to make it happen.

Just Sold in San Jose for $1,449,000

1,000 total views, 2 views today

Just Sold in Santa Clara for $930,000…

Leave a reply

For this townhome I sold in Santa Clara for $930,000, I was the agent for the seller, who actually bought this townhome with me as well. Fun story, I sold his wife a condo some years back, she referred me to this client, they ended up getting married, and now they were selling this townhome to buy a SFR together.

When the market is changing and a bit uncertain, there are certain things that come up and become more important to buyers, than when the market is hot and buyers are competing and seem to buy anything they can get their hands on. In this case, we thought this home would sell for at least $1m. It’s a great home, great location, all signs point to a hot home that will sell fast with competition. In fact, it was registering as a hot home on the consumer sites.

But, what became a bigger issue than ever possibly anticipated here were the HOA dues. The HOA dues for this community are $546/month and it was literally a deal breaker for a number of buyers. I realize it’s on the higher side, but I’ve sold numerous communities with high dues before with no issue whatsoever, but in this market, paying that price point plus those HOA dues just kind of tipped people over the edge and it was a bit shocking.

The bummer for the seller was that there is actually going to be a meeting to lower the dues and take out a ‘perk’ that no one seems to want anyway. But, of course, we can’t guarantee that will happen and the dues will decrease. And, the sellers found a home they really wanted to buy, so they wanted to move forward and not wait around for that meeting to see if the dues would indeed go down, so it was a Catch 22. There just seemed to be this balance with buyers where they tapped out at this price range in order to compensate for the high dues, and that sale price is where it seemed to tap out.

Since the sellers found a home they loved and really wanted to buy, they didn’t want to wait for the HOA dues to go down, or the market to go up, and decided to just move forward so they could buy the home they really loved.

The transaction itself went fairly smooth, there was some frustration, the buyers were somewhat difficult to deal with, but we muddled through it.

At the end of the day, it is often difficult to buy and sell at the same time. If a client has to sell a home in order to buy a home, this type of thing can easily come up, where the clients are in a stressful situation on either the buying side or the selling side…or both sides frankly. I realize in many cases it feels like the only way to make the transition, but anytime one has to sell in order to buy, there can be a lot of pressure and the negotiations can be tough and sometimes end up not in their favor.

Sold in Santa Clara for $930,000

Sold in Santa Clara for $930,000

1,794 total views, 2 views today