buying

Is that east Los Gatos home nicely remodeled or simply flipped?

Want to buy a house in the Los Gatos neighborhoods of Belwood, Belgatos or Surmont?  There are a few things you should know about properties that look “turnkey”, especially as the market heats up or inventory more available.

Home sellers who quickly improve houses for a fast profit, rather than for enjoying the house for their own use, often cut corners.  Whether it’s owners doing a quick makeover or investors remodeling or improving select items, beware! Some of these properties give the impression of being “perfect” but in fact may only have been cleaned up in the most visible areas.

Here are some questions for you to ask or investigate when looking at homes for sale in east Los Gatos, particularly near the foothills :

  • Owners or sellers who prepare the home for the maximum return on investment will probably add fresh paint & carpet (or pull up the carpet to expose the hardwood floors), swap out light fixtures, door and drawer or cabinet hardware, and tidy the front landscaping.  But what about expensive but less seen areas such as
    • the electrical system
    • furnace (heater)
    • water heater
    • roof, gutters & downspouts
    • drainage system (often needed, seldom there)
    • back yard landscaping
    • the foundation (always a potential issue in our east Los Gatos neighborhood if drainage hasn’t been properly addressed)
    • insulation
    • plumbing – has the home been re-piped, or are the old galvanized steel pipes still in the walls and under the house, ready to give up the ghost?
    • condition of retaining walls, if any
    • condition of concrete or hardscape
    • large trees – have they been trimmed, or are they an expense which will fall on you?
  • Is this an investment property (purchased by investors at a foreclosure auction or as a distress sale)?  Or is it a trustee sale where the family or friends inheriting the property are fixing it up for sale (almost like a flipped house)?
    • If it’s a house being sold by investors who’ve fixed it up, how experienced are they?  Some clients of mine purchased an out-of-area house from first time investors.  The kitchen remodel was made such that a full size fridge wouldn’t fit.  Fail!(Some trustee sales are in a similar category as first time investors – this isn’t something they have experience with, most likely.  They may make costly mistakes by either over-improving the home for sale or not fixing the right things. They may or may not be local and have a true sense of market value, too, so may set themselves up with unrealistic expectations.)
  • Were there pre-sale inspections? If so, did the owners or investors do the Section 1 work from the termite report and the health & safety issues called out in the home inspection?  The home inspection (not the termite or pest) should flag any major issues with the foundation, electrical, mechanical etc. systems in the home.  If there’s no home inspection, prepare for surprises in these older homes.
  • In Surmont, Belgatos, Belwood, and all of the east Los Gatos, Cambrian and Almaden hillside areas, water and drainage is an issue, as mentioned above regarding foundations.  Left unchecked, water seeps into the crawl spaces under the houses and can create real havoc as our clay soil expands and pushes on the foundation.  So look at the downspouts and see if they simply dump the water at the base of the house (which you will see most of the time – but it’s not a good idea, usually), or did the owner take the time and spend the money to handle drainage issues well? How’s the grading? Soil and landscaping should slope away from the house so that any water coming down will run away rather than seep into the crawlspace.

Browse neighborhood homes for sale online on this site.  When you visit in person, bring a notepad and jot down concerns or questions.  It is so easy to fall in love with remodeling that’s been done that it may be easy to miss the expensive items not easily seen that may have been ignored.

Need a good, local Realtor?  Call or email me.  I’ve been in real estate a long time (since early 1993), am very accomplished and recently was named “best real estate agent in Silicon Valley” by readers of the San Jose Mercury News.  I’m also a Belwood resident and I know the area and its values well.

What About Letters from Agents for Buyers Wanting to Live in Belwood, Belgatos or Surmont?

A few weeks back, I received a mass mailing piece from a Realtor with a plea for buyers who would like to own a home in Belwood.

Sometimes real estate agents doorknock, saying that they “have a buyer”.

Is it likely?

Usually, no. Most often agents who utilize this approach are really just wanting to get a listing.  I know, in those cases, it isn’t right. It’s a waste of your time. It’s dishonest.

Sometimes, though, the agent may really have a buyer and is truly going the extra mile.

How can you tell?

Well, I’m a Realtor and I’ll tell you what I do when I have a sincere, serious buyer with a particular need: I hand write the envelope and I hand write the letter. Additionally, I’m specific about why my client might want that particular house (not just any 4 bedroom home in Belwood). When I go to that much trouble, homeowners do take it seriously and I get an extremely high response rate.

But a letter sent to 500 homes? Forget it.

One more thing: if an agent does knock on your door and “has a buyer”, do you really want to enter into a dual agency situation? Do you think that having the same agent represent both buyer and seller is going to be in your best interests?

To get the most money for your home, you need the most qualified exposure. Then you’ll know that all interested or potentially interested parties had a chance.

So if you are thinking of selling your home, call me (or your favorite Realtor) and get the home on the market properly – full exposure. Forget the secret sales.

BelwoodOfLosGatos.com

This website is provided by Mary Pope-Handy, a Belwood resident and real estate agent.

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For the HOA site,
and phone numbers for the Cabana or HOA, please visit
BelwoodHomes.org


************************* Mary Pope-Handy
Belwood area resident
Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
BRE License #01153805

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Live in Los Gatos Blog
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Valley Of Hearts Delight
Santa Clara County Real Estate,
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ValleyOfHeartsDelight blog
Move2SiliconValley.com
Silicon Valley relocation info

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Silicon Valley real estate,
focus on home selling

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