This is our July 2021 Santa Clara County probate real estate sales activity report. This month the data consists of properties sold in probate. There were no homes sold in trusts or conservatorship in the month of July. This report is presented by Certified Probate Real Estate Specialist, Kathleen Daniels, Broker-Owner of NeedProbateHelp which provides probate real estate services.
There is a legal process an executor and administrator must follow to administer an estate. The process includes, among many other things, how to sell a probate property.
This report is comprised of statistical data from July 1, 2021, through July 31, 2021, extracted from MLS Listings “MLS” as of August 1, 2021.
The data includes single-family homes, planned unit developments (“PUDs”) which include condominiums, and townhouse-style homes and may not include “off-market” sales. An “off-market” sale is when the property is sold without listing on the Multiple Listing Service.
Probate Real Estate Sales | July 2021
The breakdown of the market sales activity as of August 1, 2021, is as follows:
- There were 5 homes listed as Active
- 3 single family homes
- 2 condominiums
- There were 8 pending sales (under contract)
- 8 single family homes
- 8 probate homes
- There were 8 sold homes
- 7 single family homes
- 1 condominium
- 8 probate homes
One probate home is listed by Probate Real Estate Specialist, Kathleen Daniels. It is a charming 3 bedroom Alum Rock Home with 2 full bathrooms and 1,222 square feet of living space.
DISCLAIMER: All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by the broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
COVID -19 AND PROBATE REAL ESATE
The Impact of COVID-19 on probate real estate continues.
Letters Testamentary or Letters of Administration must be issued before an estate representative (executor or administrator) can hire a certified probate real estate specialist to list a home for sale. The backlog is causing extreme delays in getting a hearing date to administer an estate.
The Santa Clara County Probate Court is in a state of Transition in 2121. Yet the changes the court has made are helping move cases through the system. One big change was the addition of a second full-time judge.
On June 15, 2021, the California economy reopened. With limited exceptions, the state will return to “normal”.
What does that mean for real estate open houses?
- Wearing a mask is the only legal restriction for open houses and showings.
- Physical distancing is not required.
- Cleaning and disinfecting are no longer necessary.
- Rules of Entry are not required to be posted.
- No more PEAD forms.
- No one needs to attest to their current health status.
Sellers may set their own rules regarding admittance to their property. We listed a home sold by a Successor Trustee on June 16, 2021. The seller did not want any public open houses and no lockbox on the property. That means that Kathleen Daniels conducted private showings for three days and then the seller set an offer deadline.
Lowest Priced Home Sold
The lowest-priced probate home sold was a condominium located in South San Jose 95111. It is a 2 bedroom, 1 bathroom, 762 square feet, and is 23 years old.
The condo was listed on April 21, 2021. List price is $399,000. The MLS reported the sale under contract on May 14, 2021. On July 20, 2021, it was reported sold. The final sales price reported was $436,000. The buyer had conventional financing.
Highest Priced Home Sold
The highest-priced home sold was a single-family probate home located in Blossom Valley San Jose, 95136. It has 5 bedrooms, 3 bathrooms, 2,236 square feet of living space on a 5,672 square-foot lot. It was listed for sale on June 2, 2021. The list price was $1,280,000.
The sale was reported pending on June 22, 2021. On July 23, 2021, it was reported sold. The final sales price reported was $1,280,000. The buyer had conventional financing.
The Myths About Probate Homes in Santa Clara County. Screaming hot deals? Maybe if one is “lucky” enough to get an off-market sale.
We frequently receive calls from investors wanting to purchase our probate listings “off-market”. The only way to ensure a seller is getting top dollar for their home is to put it on the MLS and cast a wide and deep marketing net and let buyers compete for the home. Investors are looking for homes they can get below market. We will soon write a post about the activity on the Cambrian Park home we listed in June 2021.
Santa Clara County Probate
The process for an executor or administrator selling a probate property in Santa Clara County starts with the attorney filing a petition for probate following Santa Clara Superior Court Local Rules. The process is administered by the Santa Clara County Superior Court, Probate Division, Department 13.
One big change in 2021 was the addition of a second full-time probate judge in Department 5.
At the hearing, the petitioner asks for authority from the court to administer the estate. The authority granted by the court depends upon if the person died with a Will, or Intestate without a Will, and if Full Authority is granted under the Independent Administration of Estates Act or IAEA. If full authority is granted we typically have a probate sale without court confirmation.
Having the full authority to act does not mean that the process is easy or can be accomplished quickly. Read our page How long does probate take in California to learn more about the time frame. Adding to the typical process and timeframe for probate we continue to face delays due to COVID-19.
There are reasons the probate judge may not grant full authority. There are also cases that proceed with the California probate sale overbid process.
Independent Administration of Estates Act
In the short video below, Jennifer F. Scharre, probate and trust attorney in San Jose, discusses the advantages of administering a California probate estate with the power to sell real property without the court’s permission. The authority is under the Independent Administration of Estates Act, also referred to as IAEA.
If a Will prohibits IAEA then neither authority gets granted by the court.
Certified Probate Real Estate Specialist
We are real estate specialists in probate real estate sales. That means selling probate properties, trust homes, and property under conservatorship. Over the years we have helped many executors and successor trustees sell homes.
Understanding the challenges people face, we know a higher level of service is needed when representing an estate. That is why we focus on high-touch service versus a high volume of sales.
Experience does make a difference. Kathleen Daniels, Broker, CPRES, has extensive probate Realtor training. The core of her business is probate real estate sales.
The number of clients we work with is limited to ensure we can provide all clients with the highest level of representation. Working with out-of-state and out-of-area clients requires more time.
We track property sales in Santa Clara County probate court because it is important that we keep current by keeping our fingers on the pulse of the market.
When you need help, call Certified Probate Real Estate Agent, Kathleen Daniels at 408-972-1822, or contact us and request a consultation.