Aunt Dolly's House

For this home that I sold in San Jose, I represented the seller, who was the caregiver of a very dear neighbor and friend of our family.  Mrs. Smith is going to be 98 years young next week.  Her caregiver, Maggie had an aunt who passed away in February of 2013.   Acting as the trustee of the estate, Maggie needed to sell her deceased aunt's home in San Jose.

At first glance, there was so much to do to the home, and concerned about the peak of the already hot market, I persuaded  Maggie to deal with the "retro" look.   With a lot of cleaning, fresh paint and landscaping, we might just hit the market in late April! After discussion with her relatives, she recruited her son-in-law and daughter-in-law from the central coast to do some "updating".

Well, these "updates", never go like you think they will, but after numerous dumpster deliveries and Happy Dragon hauls to Los Gatos.  The renovation was ready, the bathrooms and kitchen were completely gutted.  Everything was pretty much new except the tile shower and the refrigerator.  Fresh paint on the walls and hardwood floors were refinished.  After much blood, sweat and tears, the home was ready for an open house; July 20, 2013, priced at $649,900.

After the first weekend, we could tell how much the increase in interest rates were effecting the buyers coming in to see the home.  Disillusioned long faces, now looking at a home they could now afford.  The shiny new appliances and the sleek new styles just didn't impress this group of buyers.  The next three weeks at each open house, the same thing, no offers.  At the end of the third weekend, we got a full price offer; from super aggressive, ready to invest, buyers.  Well in this transaction, it seemed as though things were going smoothly.  The funds were there, it was 1/2 cash, with a loan and property inspection of 9 days. On the 9th day, the buyer pulled out and we were back on the market.  After some price adjustment discussions with the seller, we re-listed the property at $619,000.

By the next week, we had multiple offers; two of which came in at $650,000.  We accepted one of the offers and we were back in business.  This time, I requested that there be only 3 days for property inspections and 9 days for loan contingency removal with a 30 day escrow.   The home is now occupied by a family of 4, bringing new life to the lovely neighborhood, on Sutro Drive in San Jose, California. My client was thrilled at the price and the lovely new owners of Aunt Dolly's house.  I loved the nice neighbors on this nice street in San Jose, I will miss you all!

Aunt Dolly, you would be proud!