House for Sale, Staging or not Staging

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421

Here are the reasons that why this house was not sold on the steps at 2.845, this is my 2c

  1. This house is too "good" for contractors. Its basically DONE and any thing else they have to start knock some thing down and redo, no contractor will try it and take the high risk that may not appease the potential buyers.
  2. The price of 2.845 is too high for any investors, the margin is not there to be attractive. You cannot rent it out, no one is going to pay $20K/mo to rent a place like that, If they do have the 20K, they will buy on their own.
  3. Millionaires or Billionnares do not buy on the steps, to buy home on the steps is a full time job. You need to live in the county center and study the titles, liens and everything in between. Most of the NOD went to step auctions are canceled, so there is a LOT of run around. If you can buy 2 house per year, you are doing well.
  4. There is no financing in the auction at the steps. Most of the buyers need financing, not that they short of money, but they want to take advantage of the interest deductions.
  5. The house is too "bad" for owner occupants, the kitchen and bath are all "stock" cabinets and fixtures, a high end buyer would not like that. Not only that, I bet the floors are engineering boards, looks cheap.

So, this house got stuck in between and fall through the cracks.

422

See, we knew it all along – its those cheap bathroom mirrors… Thats it… thats the ticket… :wink:

423

The bank should just cut the price and stop the auction nonsense.

Isn’t there a fee the buyer has to pay if he buys through the auction?

424

A friend’s house is for sale.

http://tours.beyondvt.com/public/vtour/display/285380?a=1

425

Nice house

426

Yeah…

427

Staged House…

YES, there is a 5% surcharge for that Tiburon house auction. So, if the high bid is 2 the buying price is 2.05

When we bid, we have a spreadsheet with all the costs entered. As the auction progressing, we enter new bids and the total price comes right up.

428

That’s cool. I think you mean the buying price is 2.1. :slight_smile:

So, the bank needs a bid at auction close to 3 million to break even on the Tiburon house.

429

Yes I meant 2.1

I don’t know the reserve, you may get it for 2.5 or whatever, if it is over the reserve, you bought it. If it is lower than reserve, you will have the last word on price after the auction. If your bid is accepted, you can go in to contract.

430

I just looked at homes for sale in Tiburon…there is very little for sale.

431

dstark

Your friend’s home is way over priced. Sorry to say that. Yes, there are very nice custom features in the house, but they are not worth $1 Million, I mean the features. The “appraised” value probably will be at 1.2… And Willow Glen is not Lynbrook.

This is only my opinion.

432

Ok…I will let you know what happens.

433

wait, this is a fully rebuilt, new house! Is your friend a flipper?

434

Lovely house but I just can’t get my head around those free-standing soaking tubs. How do you clean the tile floor around and behind it? Laying down on the floor and snaking your arm around?

435

dstark’s friend’s house is staged very well…

436

wheres the price and description?

437

Also not a fan of dustbunnies, dragonmom.

438

The other day, I was in that area of San Jose looking for houses because there were two in auctions. IMO, that area could not support that kind of house in that price range. I could be all wet, but that is my opinion.

Good Luck to your friends, They have the guts to do a bold move like that, I admire them. I do hope to hear good news soon.

439

Thanks. We will see…

440

Even they can sell the house it is hard money VERY HARD…

Well, today is the beginning…DOM 0