This is Amazing property to convert or hold as single with long term benefit

Half acre flat land, quiet street, amazing one ! Whoever looking for Cupertino or Saratoga kind of 1.5M or above range, this is better place !

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Interesting lot. Personally I would’ve preferred it if the main house was more in front leaving a large private backyard.

Location is everything though… Campbell being an inferior location than Cupertino or Saratoga, I don’t know…

Also a $1.6M price tag in Campbell would be considered high… it’s better to buy the worst house in the neighborhood than the best one…

I am not telling they are equal, but considerably better neighborhoods. However, this is not pricy.

Capri school and westmont areas are good and Los Gatos border places. They are almost like moreland schools. They are nice and desirable. With half acre lot, it is competitive, few builders bid and will take this home.

So I recently bought 2 homes:

One is with significant foundation issues that scared away 90% of buyers. On top of that previous owner died in the property which scared away the other 10%. Competition free! :slight_smile:

The other one is an off market listing of a distressed property which I happened to know the agent. Again, no competition there.

Sell me one. Got good deal, share with your friends :grin:

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If you buy and subdivide, there would be tremendous profit.

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I have seen many good location such homes coming at good discounted price at Contract Special level. I did not try them as I do not know the implications or work content in detail. Normally they are at run down level.

What do you do specially to bring up the property?

You need to look out and bid against investors, that is hard part as most of the investors are very high cash down payers.

I have no problem competing with high cash investors, me always buy with at least 50% cash down and aggressively overpaid, just don’t have any friends here to do what you guys can do.

It depends on what you want to do with the property. To convert it into a rental, some simple makeover will do. Of course all the essentials need to be there. But no need to be fancy.

For a flip, some fancy renovation is in order. For example, you may want a new driveway, install new fences, landscaping, new designer kitchen, etc.

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So you are one of those people contributing to the craziness of those bidding wars :slight_smile:


What price range is hot now? I understand it depends on location, so let’s assign a hot price range for some big markets in BA.

If you have a lot of cash and can tolerate some mistake, why not bid the foreclosure auctions? I have not been to any yet, but always have an interest in it. Whenever I brought up this topic, everyone would persuade me to forget about it, and I always followed their suggestions and forgot about it :slight_smile:

Foreclosure auction in this market where prices have been increasing 5-10% every year? Large swath of buyers post 2008 are putting down at least 20%. This should have gone the way of the dinosaur. Oh there was also that thing where banks no longer had incentive to foreclose…

If anyone here has been working the foreclosure auctions, please share an anecdote.

Hot, anything that people can qualify for with 20% down. I’d say it goes right up to 2M.

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