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I first met Matt through his brother, Dean. They were on the hunt for a fixer-upper in Hayward/Freemont area and the first house we put a bid on was a probate property – a complete burnout home, listed in the low $ 400,000s. When it went to court, the bidding shot up to $747,000, which just didn’t make sense to them.
Matt (front) and Dean (gray shirt in back).
After that, I showed them several more homes, all with significant issues and price tags in the $800,000 + range. Then we found Brandywine, a house that had been sitting for six months. It came with a massive $45,000 pest report. The trim and deck were completely rotted – the original wood was cheap, and the house hadn’t been maintained (likely rented out to students at Cal State Hayward).
We got bids from contractors, ranging from $12,000-$18,000, but they ended up going with Dean’s guy. He did all the section 1 work (damage to wood), even found a bunch of termites inside the framing of one window. Now, they’re gutting all three bathrooms, painting inside and out, installing a new dishwasher, and building a brand new deck. The last sale in that development was $904,000. This home started at $908,000 but had dropped to $799,000. After some back-and-forth negotiations, Matt bought it for $750,000.
This wasn’t a flip – Matt and his family are moving in. I can’t wait to see how it all turns out!
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I was covering for another agent who was on vacation and got a message from someone referring Mitch and Mallory to her. With that agent unable to be there, I stepped in and showed Mitch and Mallory a house that we wrote an offer on but did not get. We went to look at another house and it all came together!
That house was 2126 Vaquero Way in Antioch. It actually had another offer on it when we arrived but we offered what was recommended (basically asking price) and ended up winning the bidding. Mitch and Mallory also got a $3,500 credit after inspections.
Luckily, Mitch is an electrician so knows many people in the trades and can do quite a bit of work himself. I’m sure they will get this place in tip-top shape for their first home! I love working with first-time home buyers and seeing all the possibilities a new home brings to people.
I’m thrilled for Mitch and Mallory on their new adventure and can’t wait to see the finished product. There is something about when a buyer is ready, they are really ready. They had been thinking about this for months and finally acted, so it’s no surprise it happened so quickly!
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I stumbled upon this Zillow article a little while back and thought it would make for an interesting rundown of things I sometimes see clients struggling with. Some of these things are simply not true. Others are exaggerated. Either way, buyers and sellers need to unlearn certain things about the real estate process before engaging in it. Read on for more.
MYTH:You need a 20% down payment. This hasn’t been required for decades! In fact, you can put as little as 3% down, depending on the loan or the location of the home.
Credit: Zillow.com
MYTH: Your pre-approval rate is the rate you’ll get when you close. Interest rates adjust every day. So, what you see at pre-approval is based on current market conditions and other factors, and it can’t be “locked in” until you sign a purchase contract with the seller.
MYTH: You should wait to buy a home until prices are lower. Buying a home after prices go up can be risky, but so can waiting. In popular neighborhoods (like many in the Bay Area), it’s often better to go for it and not wait.
MYTH: Buying a home is always cheaper and a better investment than renting. Renting a home can be cheaper than buying in many places! The benefit to owning a home, of course, is that it will appreciate over time and build generational wealth.
MYTH: You should find a home before you apply for a home loan. It’s smart to get pre-qualified for a loan. It will give you more information to shop with.
MYTH: Buying a fixer-upper will save you money. Sure, maybe on the sticker price. But fixer-uppers need a lot more than just a fresh coat of paint. Generally, there are major issues that need to be tackled, not all of which are visible up front.
MYTH: You have to get your loan from the lender who pre-approves you. No, you have no obligation to stay with the lender you start with. Shop competitive offers and find the best fit before you go under contract.
MYTH: You shouldn’t buy until you can afford your ‘forever’ home. Selling a home can be costly, but if you wait to buy until you can afford that dream home rather than invest in a starter home, you may never buy at all.
MYTH: A 30-year, fixed-rate mortgage is always the best choice. Adjustable-rate mortgages (ARMs) can save thousands of dollars of interest over the life of the loan. That’s one example. There are other options!
MYTH: You can’t buy a home if you have student loans. Actually, those loans can hurt OR help your chances of buying a home – it can boost your credit scores but it can also raise your debt-to-income ratio for approvals. Consider every angle.
MYTH: You have to pay the seller’s asking price to buy a home. Definitely not. The seller’s asking price is simply what he or she hopes you’ll pay. Offers and counter-offers will bring you to a point of agreement in the end.
MYTH:You need excellent credit to buy a home. It’s good to have good credit, but there are great home loans and rates available for people with less-than-perfect credit too.
MYTH:Fall and winter are bad times to buy a home. It can actually work to your advantage to buy a home in seasons when most shoppers think it’s “bad.”
MYTH:You cannot buy a home if you are self-employed. The rules for getting a mortgage may be different for those who receive a W-2 from their employers, versus a 1099-NEC for being a gig or freelance worker. But it won’t stop you from buying!
MYTH: All lenders are the same when buying a home. You don’t just shop houses and rates when buying a home. There are also significant differences among lenders and you should find the best fit for you!
Happy House hunting an buying a home you love. We are currently seeing many price reductions, inventory is still low, but rates have come down. Thus if you have been on the fence, now may be a great time to buy with hopefully further rate drops and you can refi at that point. When I bought the home I am currently in, the rate was 8.5%. I ended up refinancing more than 8 times and currently have a 2.75% rate. Call me if you would like to chat about buying a home.
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I recently co-listed 3354 Betty Ln. in Lafayette with Rose Brudigam. It was listed at $1.35 million and sold, all cash, for $1.50 million. It had been a rental for about 20 years but was recently transferred to six siblings due to the passing of the family matriarch. They made several upgrades over the years, from shoring up the garage foundation to remodeling the kitchen to adding dual pane windows and a new electrical panel. They also painted the exterior and landscaped the front yard to be lower maintenance.
Before going on the market, though, there was still much work to be done. The interior had to be painted, new fixtures had to be added, and new sod had to be laid in the backyard. It was staged for a mid-century look. Once on the market, an agent looking to buy for herself wanted to know if we would accept a preemptive offer (this can be very confusing to sellers – trying to understand the pros and cons of looking at preemptive offers).
We opted to market with a weekend open house and mid-week broker tour before entertaining offers. The sellers ended up with a beautiful offer from a woman who thought it would be perfect for her and maybe, sometime in the future, for her daughter.
Though it all ended well, it wouldn’t be a home sale without a couple of small snafus along the way. The sod we replaced started browning on the edges, so we increased watering time for two very hot days in a row before the offer was accepted. Shortly after, we checked the house again and the sod was going brown and gophers had pushed up dirt! We found a broken timer in the sprinkler system and the sellers agreed to replace the sod again and add gopher wire underneath.
Also, when the buyer did her final walk-through, she thought there was fencing around the yard (there was some fencing, just not complete fencing). Since she has a dog, it caused some stress, so we delayed the closing by five days to get the new sod in and to get bids for a fence around the main part of the backyard. The seller agreed to split the cost of the fence with the buyer, too.
All in all, we have happy sellers and a happy new homeowner in Lafayette with a peek-a-boo view of Mt. Diablo and we couldn’t be happier for both parties!
Welcome to your dream home on a serene, quiet street! This stellar, well-maintained property is ready to impress with its array of upgrades and features.
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Welcome to your dream home on a serene, quiet street! This stellar, well-maintained property is ready to impress with its array of upgrades and features. Enjoy peace of mind with newer dual pane windows, a fully paid-off solar system at closing, and newer A/C, heater, and ducts.
Garage doors have LiftMaster motors and battery backup. Step outside to your private oasis featuring a wisteria-covered patio, fruit and redwood trees, and an oversized, permitted shed, perfect for extra storage. The finished garage, complete with drywall and epoxied floors, adds both utility and style.
Inside, the eat-in kitchen seamlessly flows into the family room, creating an inviting space for casual gatherings. For more formal occasions, the elegant dining area boasts vaulted ceilings. This home offers the perfect blend of comfort, convenience, and charm. Don’t miss the opportunity to make it yours!
Just Listed: 1831 Jefferson St. in Concord. For Instagram users: to learn more, click on the blog link in my bio.
Just listed in Concord: a 4-bed, 2-bath, 1,719-square-foot home in Bishop Estates. This beautifully-remodeled home includes a reconfigured kitchen with sleek quartz counters, a Bosch dishwasher, and a charming breakfast bar flowing into the family room.
You can entertain in style with a cozy living room and wood burning fireplace, gather for intimate meals in the formal dining room, and enjoy a true sense of community with your neighbors in friendly Bishop Estates. The primary suite offers an updated bathroom and all bedrooms offer hardwood floors.
Outside, enjoy privacy on the patio with no rear neighbors and spacious side yards. Safe, confined, and low-traffic streets make it perfect for children to ride bikes. Open Houses are occurring this weekend (April 13-14 from 1-4 p.m. each day), so come swing by!
Another bonus about Bishop Estates: it has cherished traditions of open porch nights, weekly Macaron Mondays, and events at the Cabana Club. It is suburban bliss! All of this and more for just $949,000. If you, or anyone you know, is interested in buying this wonderful home, please reach out!
Recently, I shared a listing for an exquisite unit in Rossmoor. Good news! That unit was recently sold and I have all the details here: after two competitive offers, 1148 Fairlawn #1 in Rossmoor was sold for $735,000. The new owners are getting a wonderful new home.
The unit is a San Franciscan model with a spacious floor plan. On top of that, the home has been updated, upgraded, and tastefully remodeled. A new kitchen, new carpet, and laminate flooring make for a visually stunning place to live. And that’s just the inside.
Outside, a small front patio with a gated garden offers a private place to relax and enjoy the nice California weather. Your designated carport is just steps away, and you can wander anywhere in the Rossmoor community and find something fun and exciting to do.
I am so happy to help another out of area trustee sell there parents home. Being out of the area can be stressful, my job is to make effortless and to consistently communicate as I am the ears and eyes for my clients. If you have any real estate needs in the East Bay or know someone that lives out of the area and needs to sell a family home, please reach out!
Looking for a home in Rossmoor, a 55+ community? This is an exquisite end unit boasting a spacious open floor plan that is both inviting and relaxing. The unit is a San Franciscan model and perfectly situated for personal enjoyment and for entertaining guests. It is priced at $699,000.
Every portion of the unit has been updated and upgraded, from the tastefully remodeled kitchen to new carpets and laminate flooring throughout. An added bonus room awaits, perfect for your office retreat or a cozy den. In total, it is 2 beds, 1.5 baths, and 1,330 square feet; large, compared to most in this area!
Step outside and bask in the serenity of the front patio’s gated garden and just steps from your carport. Inside, modern convenience awaits with a full-sized washer and dryer, walk-in closet, tile entry, and both bathrooms. This is not just a house; it’s a home. An invitation to experience a life of luxury and leisure.
In the vibrant Rossmoor community, you’ll have the privilege of enjoying a wealth of amenities that cater to every interest and lifestyle. Dive into the refreshing pools, perfect your swing on the golf course, or indulge in a friendly game of bocce ball, pickleball, or tennis. There are clubs and interest groups aplenty in Rossmoor, too, ensuring that every passion and curiosity can find a home.
If this unit interests you or someone you know, give me a call! It won’t last long!
I was referred to Aleena and Roger by a neighbor who was looking for a home a few years ago. Back then, we talked about neighborhoods and she really liked Parkmead. She ended up renting in a Parkmead home, then the owners decided to sell and she bought the home without it going on the market, so it was very nice that she thought of me when her friends started to look for a home.
Aleena and Roger really knew what they wanted in a home. They would search on their own and then call me if they found something that interested them. We wrote a couple of offers and they got a sense of the market and what was most important to them. A couple of weeks before Christmas, they found a home on Wedgewood in Pleasant Hill and decided to write an offer.
The home is on a quiet court with views of Mt. Diablo and Dinosaur Park right behind them with access to the park between their home and a neighbor’s house. There was an offer date of December 11, the contract was written up via phone conversations, emails, and electronic signatures while Aleena was traveling. The home was listed at $995,000 and they offered $957,000.
The home needed a little work and was a trustee sale. I wasn’t sure if there was interest from others and explained that if there were any higher offers, Aleena and Roger likely wouldn’t be considered (writing offers is a bit like poker; you never know if someone is bluffing about interest, or if you don’t have a great hand/a full price offer or higher, will somebody else have a better hand/offer. As it happened, with the holidays, the rates, and the work to the home that was needed, we were the only offer!
They countered us higher, but the buyers went up only $10,000, knowing we would be doing additional inspections. We found many issues and negotiated a $13,800 credit with their $967,000 offer. After we got into contract, we learned that there had been recent transfers of the trustee, and actually ran into the trustee while doing inspections. I asked about it and found the original trustee was no longer able to serve in that capacity, so the court appointed a trustee to complete the transaction.
In addition, we found out more about the house from the home inspector, who said when he did the original inspection, the home was so full of boxes and other stuff that he was unable to fully inspect the home. We had a closing date of December 28, with contingency removal on December 26. Additional inspections were ordered and was waiting for reports with pricing to ask for a credit, which I had told the listing agent would have a request for repairs by Friday December 22 (I got it to her that afternoon).
What I didn’t know was the court attorney had to sign off on everything and she left early afternoon on Friday and then had the week between Christmas and New Year’s off. Per the lender, we could not close past December 29. The buyers had movers organized and it became very stressful for all parties involved.
Everyone came through and we ended up closing on the 29th, in the future, if I ever have such a quick closing during the holidays, I will advise to expect delays, get more clarity from the lender what could happen if there are delays and make sure there is some wiggle room. I am now much more aware of other decision makers holidays such as an attorney who does not work realtor and lender hours. However, I believe both parties wanted to close before the end of the year so it all worked out. The lesson that keeps getting reinforced? Communication from all parties is key to a smooth process!
Back in March, the owner of 4791 Laura Dr. in Concord found herself facing a dilemma. She yearned to move as soon as possible, but a looming shoulder surgery in May cast doubt on her ability to prepare her home for sale. The decision was whether to list the property in September or wait until the new year. With months stretching ahead, there was time to transform her home into a market-ready gem.
The first step involved bringing in a professional stager to assess the property’s potential. Together, they determined what would stay and what had to go. Carpet bids, inspection quotes, and even a talented artisan to repair sliding doors were lined up at reasonable prices. The owner carefully selected which repairs to undertake, fully aware that potential buyers might request credits for some items.
By May, her life had taken on a minimalist hue. She had sold, donated, or packed away all but the essentials, embracing a simplified lifestyle. August marked a turning point, with a fresh coat of paint adorning the walls and new carpets gracing the family room and upstairs bedrooms. The stagers worked their magic, creating an inviting atmosphere. It was time to settle on a final asking price.
In March, market comparisons supported a price of $975,000, but the Spring season had seen prices surge. A bold decision was made to aim for $1 million. However, it soon became apparent that the initial price might have been a tad ambitious. Rising interest rates had discouraged potential buyers, and open house traffic remained disappointingly sparse.
Within days, the price was pruned to $990,000, a modest concession aimed at slipping below the million-dollar mark. A month rolled by with little traction, prompting another price adjustment down to $975,000. The owner quipped that this was, in fact, their original target.
With more showings from other agents a glimmer of hope emerged. Within two weeks of the price reduction, an offer materialized. Initially, I was told it was coming the next day, but it took over the weekend to get the offer. While it fell slightly below the asking price, it was a VA offer with a request to address some remaining repair issues, totaling around $11,000. Over the weekend, two more agents came knocking. Once I had the offer, I called the ones who had just shown up, mentioning I had an offer, and asking if there was any interest from their buyers. One agent said he was writing it up as I called and was hoping to be the sole contender.
Thus, they presented a full-price offer at $975,000 with a $20,000 credit for closing costs and rate buy-down. The owner gladly accepted, finding peace with the fact that these buyers were a perfect fit for her cherished home. Ironically, they had come by the first open house, continued to look, but kept commenting on the yard and comparing it to other homes. In the end, the seller had bittersweet emotions, as she bid adieu to the place filled with countless memories and love, but also embarking on the next chapter of her life.
Key Takeaways for Sellers and Buyers:
1. Preparation is key: Getting your home ready can feel overwhelming, especially after many years of living there. Engage a resourceful agent early, plan meticulously, and allow ample time for decluttering and organizing.
2. Trust your agent: A skilled real estate agent will manage expectations and communicate effectively throughout the process. Markets can shift, and their guidance can be invaluable.
3. Act swiftly: If you’re considering making an offer, don’t delay. Timing can make a significant difference in securing a property, as waiting may invite competition.
4. Revive interest: Sometimes, a home that has lingered on the market just needs the right nudge. An astute agent will reach out to potential buyers who have shown interest in the past, often leading to successful sales in a competitive market with limited inventory.
