Market to Escrow in 10 Days - Los Gatos, CA REO - Minutes from Downtown Los Gatos this Redwood Estates property has vaulted ceiling, skylights, wood-burning stove, granite counters, stainless steel appliances & a wet bar. Like most foreclosed properties this listing had a quirk and needed a new roof. On my recommendation Citibank listed the Los Gatos, CA REO for $489,900, which felt like fair market value.
The main challenge in marketing this Los Gatos, CA REO was the sellers timing. They asked me to list 18078 Redwood Dr. in the middle of the roof replacement… which wasn’t ideal on a number of levels. Regardless, I had 4 offers within 7 days and entered escrow 3 days later with an offer $15,000 over asking. In today’s volatile market, I chalk this success up to two things: great exposure and proper pricing. We, as REALTORS, cannot be reminded enough about the importance of pricing property well, especially if we want to go from Market to Escrow in 10 Days - Los Gatos, CA REO.
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