So you thought that multiple offers on homes was a thing of the past…

Recently, I saw a newly listed house that defied description.

I have seen houses that were “dated”. I have seen houses that needed “work”. I have seen houses that were described as needing TLC (tender loving care). I have seen houses that were described as “fixer uppers” or “handyman specials”. You have seen houses that meet these general descriptions, too. None of those descriptions fairly depicts the condition of the house in question. If you think that needing TLC means needing toilets, lights and ceilings you would be much closer to the truth for this house.

There is a tree growing next to the house. The branches of the tree have grown into the roof, through the shingles and roofing paper, into the attic crawl space and THROUGH THE CEILING of the upstairs bedroom. I have heard of architectural designs that bring the outdoors inside, but I don’t think that is what they had in mind.

The hardwood flooring and the walls all showed evidence of water damage. Not surprising since the roof was essentially open. The scary M word came to mind. (Mold, as if you had to be told.) (Sorry, I didn’t plan the rhyme.) One of the bathrooms was actually taped off with yellow caution tape. I suspect the floor in that bathroom was in danger of collapse from wood rot.

 I could go on, but I think you get the drift. All of this in a house that was originally 5 bedrooms, 3 full baths in 2,326 sq. ft. of living space. The house is in a nice neighborhood and should have been listed for about $700,000 if it was in good shape. In fact, there is a similar house with the same number of bedrooms, baths and sq. ft. a couple of blocks away that is listed for just over $700,000.

This house was listed at $374,950!

 I called a contractor friend and told him about the house. He took a look, put a pencil to it and we wrote an offer. “As Is” with no inspections, no home warranty, no appraisal, and no loan contingency because the purchase would be all cash.

The listing agent called me a few days later to tell me that our offer was not accepted. It was one of 43 offers that were submitted on the property! I have not seen the final sale price yet because the transaction in still in escrow but I know from the listing agent that the accepted price is over the asking price. No surprise, really.

So what is the point? The point is, if you see the property that is right for you, you had better make an offer on it before someone else buys it. If it looks good to you, it looks good to someone else. You are special, we are all special, but let’s face reality…there are plenty of similar people out there when it comes to buying a home.  They want the same things in a house that you do. Well located, well priced homes will still spark strong interest among buyers and, perhaps, get multiple offers…even in this market.

If you are shopping for a new home in Fremont, Newark, Pleasanton, Hayward, Livermore, Union City, San Ramon, Danville, San Leandro, Milpitas, San Lorenzo or the surrounding areas of Alameda County, give me a call or send me an email. Real estate doesn’t come to you. You have to pursue the it. Let me help you.