This probate sales activity report includes probate sales in Santa Clara County in January 2017. This report is comprised of statistical data from January 1st through January 31, 2017, extracted from our local Multiple Listing Service (“MLS”) as of February 1, 2017. The data includes single-family homes, condominiums, and townhouses.
Probate Sales Activity January 2017
- 5 Active Probate Properties for Sale
- 4 single family homes and 1 townhouse
- 4 of the 5 homes are probate sales and 1 is a trust sale
- 20 Pending Sales (Under Contract)
- 19 single family homes and 1 townhouse
- 17 of the 20 pending sales are probate sales, 3 are trust sales
- 13 Sold Probate Homes
- 11 single-family homes, 1 condo, and 1 townhouse
- 9 of the 13 sold homes were probate sales, 4 were trust sales
- Average List Price: $862,434
- Average Sale Price: $895,462
- Average Days on Market: 35
Looking at “averages” only gives us a snapshot of the entire market. Home prices vary all throughout San Jose and the entire Silicon Valley. The location and condition of a home will always impact value. This is true of all home sales not just Probate and Trust Sales.
- The highest price probate home sold required court confirmation. It was a single-family home in Los Altos, 94022. Marketed as a “fixer-upper” with great upside potential. It has 3 bedrooms, 2 bathrooms, approximately 12,126 square feet of living space on an approximately 16,749 square foot lot. It listed in September 10, 2016 for $2,250,000. On September 14, 2016, the price was reduced to $2,400,000. On October 4, 2016, the status was changed to Pending. On January 30, 2017, the status changed to Sold. The sales price was reported as $2,200,000. The total number of days on the market was 24 days. It was a probate sale. It was a cash sale.
- The lowest price home sold was a single-family home held in Trust. It was a single-family home located in Gilroy, 95020. It had 2 bedrooms, 1 bathroom, 608 square feet on a 4,402 square foot lot. The home was 116 years young. It was first listed in May 2016 for $324,900. It was withdrawn from the market on 10-14-2016 and put back on Active status on 10-29-2016. The status was changed to Pending on 12-9-2016. On January 23, 2017, the status changed to Sold. The reported sales price was $325,000. The total number of days on the market was 182 days. The buyer had conventional financing.
While many aspects of probate sales may be similar to a non-probate sale of real property, a Personal Representative is well advised to seek a qualified real estate agent to represent them in the sale of a probate and trust home. We live in a highly specialized world today. Hiring a Certified Probate Agent is just as important as hiring an attorney who specializes in probate.
If you need an attorney who specializes in Probate I am happy to recommend one. If you already have an attorney and simply need help with selling probate real estate then give me a call. I may be reached at my office 408.972.1822 or on my cell at 408.499.8751. If you prefer, you may request a consultation. We are here to help.