A blind real estate offer is a purchase contract which is written by a buyer when the property is sight unseen. There are commercial properties, such as apartment buildings, in which this is the norm, and it’s not surprising for multi-family units such as duplex to fourplex properties. It is uncommon with single units or homes.
Right now we are in the midst of a Shelter In Place order due to the coronavirus pandemic. Current restrictions do not permit the showing of homes, inspections, or appraisals – though the latter two may change or get adjusted somewhat as this order persists. If you want or even need to find a property, how can you do it with this restriction? It is not advisable, but some would-be home owners are writing blind real estate offers.
It makes sense for a multi-unit property to be sold this way because the investor cares most about the numbers. How’s the cash flow? Are the reserves good enough? When will the driveway need repaving? All of these items address the question of whether or not it’s a good investment, a good business decision.
Blind real estate offer on your own future home
Buying a home that you are going to live in needs to make sense financially, but you also need to like it. You need to see if the home has enough light, if the rooms feel crowded or spacious. You must learn if there are floors out of level or odors or other issues undetectable from a virtual tour or series of photos.
Before the broad Shelter In Place order, I showed a home in Gilroy, and one of my clients had an allergic reaction in the house. Maybe it was the new carpet? Who knows – but it was imperative that we visit the property in person.
Blind real estate offers are dangerous since they curtail the buyer’s ability to have properly vetted the property. They are also dangerous for the seller, who can get the house tied up with a buyer who may or may not be willing to go through with the sale once the home is finally seen in person. If the Shelter In Place order continues for 2 or 3 months, which Governor Newsom suggested yesterday, it’s possible that access by appraisers or real estate agents may not be permitted for a long time. Long escrows carry their own risks.
Cambrian home prices rise sharply as multiple offers and overbids result in shockingly high sale prices. The Cambrian real estate market has been like this, truly on fire, for the last 45-60 days or so. One friend of mine had her Cambrian listing on the market and under contract in December, it fell through and resold for more than $100,000 more in November. Turns out, that kind of price jump is exactly what is happening in the Cambrian real estate market today!
When I looked at the numbers on the MLS a few minutes ago, I thought it was enough of a story to post about it now (Feb 25), before the month is even over. The better homes, which are nicely updated and in good locations and priced aggressively, have been leading the pack, but it seems that many home types and price points are enjoying the benefit of this strong seller’s market.
One downside, of course, is that many buyers are having problems with low appraisals.
Cambrian home prices rise sharply: graph
This first image is a graph of the Cambrian median sale prices and the average sale prices month over month. What’s nice about this view is that it makes the upward jump in February (so far this month) very obvious to see.
Today I’m posting about a Realtor colleague’s listing with permission from her. The house at 3012 Monte Cristo Court, Hollister, offers an amazing package of luxury, contemporary design, expansive land, relaxation opportunities galore, and a private vineyard. For those wanting to move away from the hustle and bustle of Silicon Valley but remain close enough to connect in person easily, this amazing property could be ideal.
Quick details on this luxury estate at 3012 Monte Cristo Court, Hollister:
- 4 bedrooms
- 3.5 bathrooms
- 3500 SF (appx)
- Lot size 1.31 acres (appx)
- Built in 2000
- Pool and spa
- Exquisitely landscaped, front and back
- Private vineyard
- On the Cienega Wine Trail
- Close to downtown Hollister
- MLS# ML81741055
- Offered at $1,275,000
The house offers an open concept floor plan plus a wonderful outside area complete with summer kitchen and pool.
The inside features a living – dining room combination, a butler’s pantry, and a kitchen with nook open to family room. The living, dining, and family rooms all feature high ceilings. The spacious kitchen features gas cooking, an island, and a pantry, among other amenities. In the photo below, please find the kitchen and nook with an amazing view of the stunning back yard.
And a view of the resort-like pool, spa, and part of the yard:
To learn more about this stunning home, please see the Virtual Tour HERE. There are 95 photos on the virtual tour, so I highly encourage you to check it out! Or phone Susan Fixsen, of Pacific Oak Real Estate Services, the listing agent, at (831) 245-5195.
Fantastic west San Jose townhome at 3693 Cabernet Vineyards Circle! Just listed today! Offered at $975,000
I just listed a beautiful 3 bedroom, 2.5 bath west San Jose townhome near Santana Row and am excited to invite you to see it:
- 2018-10-17 09:30 AM to 12:30 PM
- 2018-10-20 02:00 PM to 04:00 PM
- 2018-10-21 02:00 PM to 04:00 PM
Quick Facts on this west San Jose townhome:
- 2 bedrooms
- 5 bathrooms
- 1496 square feet (per county records)
- 1100 SF lot size (per county records)
- Built in 1990
- Attached 2 car garage
- Townhouse style building, condominium ownership
- Central air conditioning
- Water softener
- Monthly HOA dues 285.86
- MLS # ML81727678
Please browse a sampling of photos to get a feel for this lovely home here. You can see ALL of the photographs at the virtual tour site.
This updated townhouse features an open floor plan and loads of natural light and offers a spacious front patio for dining and relaxing outdoors.
Enter the home from a pleasantly landscaped walkway and see the spacious front patio with plenty of room for entertaining.
The tiled entryway leads to the main living areas of the home, which feature gorgeous engineered hardwood floors, recessed lights, plantation shutters, and a wonderfully open floor plan.
Living and dining:
- Engineered hardwood floors
- Gas log fireplace
- Built in storage
- Recessed lights
- Extra large storage closet under the staircase
The living room boasts an easy care gas log fireplace and some built in storage.
California Ridge sits in the southern park of Almaden Valley within the city of San Jose CA 95120. This townome community is nestled into the foothills, within the highly prized Williams Elementary School area of attendance as well as the Bret Harte Middle, and Leland High attendance areas. Aside from nearby construction or home improvement projects, this is a quiet area of Silicon Valley, close to the scenic and enormous Almaden Quicksilver Park.
Many of these townhouse properties enjoy lovely views of Almaden Valley or open space. The streets are gently rolling and the homes younger and pleasant looking. Nearby San Jose neighborhoods are Almaden Springs and Country View Estates.
Although sometimes mischaracterized as a condominium or condo complex on the MLS (likely because that is how CoreLogic has dubbed it), California Ridge is a Planned Development, not a condo. Owners own the lot and the home in which they live. That is not the case with condos.
The community actually consists of two distinct neighborhoods. One is on or adjacent to Copper Peak (tract #7829), which is the street where these photos were taken. It’s got enough elevation to afford lovely valley views. The other area is on and adjacent to Shelby Creek (tract #7828), which has a pleasant setting also, but without the same valley views as it’s lower. This photo is from the Realist Report, which shows each property in a track with the red “tag”. While I don’t love the way it looks, it provides a good sense of where these 2 neighborhoods are in relationship to one another.
What is interesting is that between these two California Ridge neighborhoods, there are a couple of streets with single family homes on large lots (tract #7986). This is unusual.
What are the townhomes at California Ridge like?
These townhomes can feel refreshingly “young” compared to many other homes in Silicon Valley, most of which were constructed decades earlier.
Built in 1987 and with wood siding, decks, and loads of windows, the homes are a great visual match for the setting and seem poised to take the most of the terrain. The interiors are a little more open than older homes, so that is an appealing element to many home buyers, also. Each townhouse includes a 2 car garage. Continue reading
Mark your calendars, it’s time to clear out your E-Waste! From 9AM to 1PM on February 10th in Saratoga and Campbell, and on February 17th in Los Gatos you can drop off those old and broken electronics, courtesy of West Valley Collection & Recycling. Drop off is free and easy, but come prepared. Restrictions apply to what you can deposit (check the list below), and be ready with your ID to leave your name, address, and phone number, which will be kept confidential but is required by the State of California for E-Waste disposal.
What to Bring:
- External hard drives
- Keyboards and Computer Mouses
- CD, DVD, & Blu-Ray Players
- CDs, DVDs, Blu-Ray Discs and VHS tapes
- Electronic Games
- Radios and Stereos
No Appliances, Batteries or Light Bulbs!
Please call (408)283-9250 for questions regarding other drop off items
Where to be?
Here are the drop-off locations as provided by WVC&R.
Drop Off for February 10, 2018 (Saturday) 9am – 1pm
Saratoga Prospect Center
19848 Prospect Rd, Saratoga 95070
Located between Miller Road and Saratoga-Sunnyvale Road
Orchard Community Church
157 E. Rincon Ave, Campbell 95008
Drop Off for February 17, 2018 (Saturday) 9am – 1pm
Calvary Church of Los Gatos
16330 Los Gatos Blvd, Los Gatos 95032
See the event flier here: http://westvalleyrecycles.com/serviceareas/pdf/E-Waste-Feb2018.pdf
Or visit the WVC&R page on E-Waste here: http://westvalleyrecycles.com/serviceareas/singlefamily-universalwaste.html
When you’re in and out of people’s homes, sometimes you experience things that you don’t expect and don’t want to see. Some homes should come with a warning: shield your eyes! And have a sense of humor, if at all possible!
The other day, I met with a Silicon Valley appraiser at a home that I have under contract in the Santa Teresa area of San Jose. She informed me that sometimes people don’t pick up at all for her visit, which is pretty surprising given that she’s armed with a camera and is required to use it. Sometimes beds are unmade, curtains drawn, and the home a mess. That’s not great. But what she found intolerable was seeing the resident’s underwear on the floor. The appraiser stated that for refinances, she makes sure that the bra or undies make it into the photo and onto the appraisal report. Passive aggressive, no? But I understood her point. Why did they want her to deal with that?
Usually when residential real estate is for sale, the owners do an exceptionally good job at tidying up. Some will joke that their house looks so good now that they don’t want to sell. Unfortunately, homes are not always in “show ready” condition. And at times, what the Realtor and home buyers see is downright embarrassing. When consumers come through a condo or house and find unmentionables lying about – especially if they appear on the floor rather than folded laundry meant for a drawer – they get grossed out. Embarrassed buyers don’t buy. They leave. They do it quickly. And they don’t come back.
Some things I’ve experienced or had happen that made me want to say “beware, time to shield your eyes!”: Continue reading