Fixer Upper

Fixer Upper

Los Gatos is one of the most desirable school districts in Silicon Valley which translates to a hyper competitive Real Estate market in this small township which borders San Jose and Campbell.   Home to Apple Co-Founder Steve Wozniak and NetFlix the town offers a charming down town with neat stores and restaurants.    If you are interested in buying  a Fixer Uppers in Los Gatos here are some of the resource we utilize to find properties for our buyers:  

1)  Craigs List:  Some owners have taken the initiative to market their own home on CraigsList specially due to the recent price hikes of more than 24% in some markets compared to 2012.  But the poor interface and inability to set up search alerts makes CraigsList very cumbersome to use.  But with the tight inventory, any source of good Los Gatos Fixer Uppers can NOT be ignored.

2) Los Gatos Short Sales:   Our last San Jose Short Sale which closed this month was approved in 13 days. So, Short Sales are good sources of San Jose Fixer Uppers, specially since the lenders are offering cash incentives to home owners for relocation.  

3) Los Gatos REOs: Despite huge declines in REO inventory in most of Los Gatos, once in a while they appear out of no where.  So, it’s smart to have your agent set up a REO alert for your search so you would be notified immediately.  

4) Los Gatos FSBO:  For Sale By Owner properties also offer opportunity to pick up a fixer upper that might be a good candidates  for flips.  Our recommendation is however, to have a Realtor draft the purchase contract and help you with the escrow.  

5) :Los Gatos Foreclosure Auction:   If you are living in a Trustee Sale States such as California, Auctions also represent a decent opportunity to purchase Fixer Uppers for cash.  We have developed series of articles on using Los Gatos Foreclosure Auction to pick up properties at a discount. 

6) Walk the Dog:  We are working on at least 3 fixer upper properties in our immediate neighborhood.  So, there are every where and good agents visit at least 2 home owners every day. 

7) Filppers:   No, we are not talking about the any dolphins here, but in most markets including Los Gatos, there are small developers who purchase single family homes for the sole purpose of flipping them after remodeling.  One strategy is to help them with seed money in exchange for the option to purchase the property after rehab.    We work with some of these developers and offer them a discount on the flip transaction which could be substantial since a 2% discount on a $2M resale is $40,000 which pays for a lot of Sheet Rock.  

Where do you find your fixer uppers?!

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