Check out this story of the amazing $2.6M property my clients recently closed on!
The property was a good buy in a fantastic area not far from downtown Los Gatos. I am proud of having secured my clients such a wonderful place at much lower than list price! Here’s how it started:
I spoke with the clients many years ago regarding general things about real estate and my thoughts on the market.
The clients appreciated my outlook and analytical approach, plus how I viewed numbers and the scope of the work to be done in shepherding a real estate transaction from start to finish.
That was it. They did not act on their interest at the time and, though we kept in touch, it didn’t seem as if they were looking.
Then, out of the blue a month or two ago, they contacted me, gushing that they’d found this wonderful property in Los Gatos. So we went to have a look.
We toured the property. The house required work, but it wasn’t nearly as bad as we’d initially thought it would be. The clients were interested enough to make an offer, but we decided to bide our time due to the house’s need of repairs, the fact that it had been uninhabited for eight years, and the cooling of the real estate market.
It initially was listed at $3M. After three weeks, this was reduced to $2.75M.
But it was a good house with great potential: A few hundred-thousand dollars of work will increase the property’s equity at least 10%!
After consulting with my clients, we decided to give it a try at a lower bid of $2.65M.
Our offer was accepted and we went to contract. We solicited independent inspections and ended up getting the price down to $2.6M after assessment – $400K BELOW INITIAL LISTING PRICE in three weeks!
This saved my clients a substantial amount of money.
I connected my clients with my recommended contractors to help provide value and fair cost and time estimates regarding a full renovation of the house and yard.
And last week, we officially closed! I’m so happy to see that this wonderful family found their next home and will live in one of the best school districts in the Bay Area!
Congratulations!
Who else do you know is looking to buy, sell, or invest in the Bay Area? I’m never too busy to be introduced!
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You can also visit us at https://www.homesbyspencerhsu.com/
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Call/text if you want to go over options for buying and selling in the Bay Area! ➡️ 408-547-4590 📲