Chris is the son of my past clients and a first-time home buyer. He is 37 years old, which I mention because the average age for first-time home buyers now is 38. Anyway, Chris had some help from his parents and wanted a detached home because the HOAs would have decreased his purchasing power. Ideally, he wanted to live in Concord or Martinez, but Pittsburg also has many homes priced under $600,000.
Chris was qualified up to $625,000. This home was listed at $600,000 and we offered $615,000 with a $2,500 credit. There were four other offers and they’d already countered one when we made ours. They never responded to the counter-offer, so we got into contract. I recommended we do a few more inspections because the repairs were done by a handyman an the owner. We did another roof inspection because the skylight was leaking on a rainy day and we also found the sewer lateral needed to be replaced.
It turns out the original roof inspect did not note the skylights were not the right type for the slope of the roof and that the roof itself was at the end of its useful life. So, much more work needed to be done (about $30,000). We asked for that in a credit/price reduction and the seller said no, so we wrote a new counter asking for a total credit of $12,881 and they agreed.
Luckily, Chris has some handy people that can help do some or part of the work and he will do the clearance. This home is a smaller one, but others in the area are going in the low $700,000 range. So, Chris can do some of the work now and slowly make improvements as rates start to fall. In six months, he might be able to get a lower rate, too. Speaking of the area, this home is in a wonderful spot in Concord and I’m so glad he landed here.
Now, Chris has a 3-bed, 1-bath, 929-square foot home with a garage on a small lot. Nestled in Concord’s Holbrook Heights neighborhood, it contains modern luxury amenities like vinyl plank flooring and recessed lighting for a contemporary ambiance. Vaulted ceilings, sliding doors, and a spacious backyard are nice touches. A gas range, a convenient laundry room, and wood-beam ceilings offer attractive qualities to the home. Where this home really shines is the expansive backyard with a patio, pergola, mature trees, and plenty of space for entertaining, gardening, or relaxation. Congrats, Chris!