This probate home sales report includes Probate sales and Trust real property sales in Santa Clara County in March 2017. This report is comprised of statistical data from March 1st through March 31, 2017, extracted from our local Multiple Listing Service (“MLS”) as of April 1, 2017. The data includes single-family homes, condominiums, and townhouses.
Probate Sales Activity & Trust Real Property Sales March 2017
- 11 Active Probate Properties for Sale
- 9 single-family homes, 1 townhouse, and 1 condominium
- 9 probate sales and 2 trust sales
- 18 Pending Sales (Under Contract)
- 14 single-family homes, 3 townhomes, and 1 condo
- 16 of the 18 pending sales are probate sales, 2 are trust sales
- 7 Sold Probate Homes
- 6 single-family homes and 1 condo
- All 7 were probate sales
- Average List Price: $623,379
- Average Sale Price: $620,127
- Average Days on Market: 31
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 real property sales.
Probate Home Sales | Highest Price Home Sold
The highest price probate home sold did not require court confirmation. It was a single-family home located in Willow Glen 95125 in San Jose. It has 3 bedrooms, 1 bathroom, and approximately 1,138 square feet of living space on an approximately 5,118 square foot lot. It was 116 years young! It was first listed on June 2, 2016, at $969,000. On July 11, 2016, it was withdrawn from the market/MLS. On September 19, 2016, it was back on the market at a reduced price of $923,000. On November 8, 2016, the price was reduced again to $890,000. On November 15, 2016, the MLS reported pending status. On January 19, 2017, it was reported active again. On January 24, 2017, it was reported pending again. On March 7, 2017, it was reported sold. The final sales price reported was $895,000. The buyer had conventional financing.
Probate Home Sales | Lowest Price Home Sold
The lowest price probate home sold did not require court confirmation. It was a single-family home located in central San Jose in the 95112 zip code. It had 2 bedrooms, 1 bathroom, 766 square feet on a 1,840 square foot lot. The home was 91 years young. It was first listed on November 10, 2016, for $499,900. It was withdrawn from the market on December 19, 2016. It was reported active again on February 2, 2017, and reported pending on the same day. It was reported sold on March 30, 2017. The final sales price was $420,000. The buyer had conventional financing.
The MLS data tells a partial story. In both the highest and lowest price probate homes sold in March 2017, the data tells us that both homes were seriously over-priced. It is my professional opinion that overpricing a home does a seller an incredible disservice. The strategy of over-pricing a home is sometimes used to win business. It is not a strategy I will ever use. I believe in honesty and transparency at any cost. If it takes being deceptive and dishonest to win business … that is not the business I am interested in winning.
Certified Probate Real Estate Specialist
While many aspects of probate sales may be similar to a non-probate sale of real property, an Estate 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 Real Estate Specialist is just as important as hiring an attorney who specializes in probate.
People often ask me why I chose to specialize in probate real estate. I feel at some level it chose me. My experience as a probate and estate planning paralegal, and the many years I managed the care for my mom, made me realize there are many people who need my probate expertise, and there are people who appreciate my kind, caring, and compassionate heart as well. I bring a wealth of knowledge and experience as well as a deep understanding of what people go through managing the estate of a loved one.
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 a probate home or trust real property then give Kathleen Daniels a call. I may be reached at my office at 408.972.1822 or on my cell at 408.499.8751. If you prefer, you may request a consultation. We are here to help.