Real Estate Tips and Information by Karen List

Buying and Selling Homes in Santa Clara and Alameda County

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Strategy is Key…

May 23rd, 2017 · No Comments · bay area, buying a home, condo/townhome, first time buyer, home for sale, home seller, homebuyer, Market News, Market Update, real estate, san jose home

For this townhome I just sold in San Jose for $830,000, I was the agent for the seller. I actually sold this townhome to the owner as her buyer’s agent back in 2012 when she bought it as a short sale when the market was inundated with short sales and foreclosures. She more than doubled her money now that the market is so hot in just 5 years! Times sure have changed!

Another townhome just like her model was pending and had multiple offers, so we felt pretty good about selling her home with multiple offers as well. The seller found a home she wanted to buy, which required us to get this home on the market ASAP. About a week before she was going to list her home, another of the same model came on the market. We weren’t too concerned since there were plenty of buyers and enough buyers for both that home and her home. Plus, we figured that one would go pending before our open house weekend.

Well, it appeared that buyers wanted to see her home before moving forward with this other home, which was maybe good, we weren’t sure, because that townhome ended up NOT going pending before our open house weekend, and not only that, but 1 more of the same model came on the market the same week we did, and it ended up that all 3 homes that are the exact same model, but different condition and upgrades were all on the market at the same time and all 3 had open houses the same weekend.

Luckily for us, we were the nicest home, great location, and we also priced the home the most aggressively (we listed the lowest price of the 3). We had 2 buyers that wanted to make pre-emptive offers, and both buyers were really aggressive. We made the decision to review the 2 offers because we didn’t want to push our luck, knowing there were 2 other townhomes with the exact same model and also just right around the corner. We went with the buyer that had a fabulous offer with a price we figured we probably would not have received anything higher by waiting, plus this buyer waived ALL contingencies (no loan, no appraisal, and no inspections), and gave the seller a FREE rent back. And, both the seller and I agreed that was the right decision to take this great offer and not get too greedy and then have anything backfire by waiting for an offer date.

In fact, the other 2 homes didn’t do as well as us, we got the highest price over the others, partly because this home truly was the best and nicest one, and most nicely remodeled, so it should have sold for the highest price. But also the other 2 homes just didn’t sell as fast. And, we didn’t have time to mess around, because the sale of her home was contingent on getting the home she wanted to buy, so we were really under the gun to make this happen.

The transaction itself was super smooth and seamless, typical for a transaction in which the buyer removes all contingencies upfront. Those deals typically go pretty well.

Just Sold in San Jose for $830,000

Just Sold in San Jose for $830,000

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