Selling in Silicon Valley - Want to come along for the wild ride?

[2017SoFarSoGood]

I'm prepping my house for sale in Silicon Valley, California - just south of San Francisco. The property market is completely insane. It is astonishing who can actually pay these prices - especially when you realize that most purchases are cash. That's right, cash. With no contingencies and no chain.

Will be chronicling the madness of this sale here. I will then be purchasing a smaller (cheaper we hope) property nearer to SF. They say 'good luck with that. Feel free to join in, or simply ignore. Should be very interesting.

How have I missed this thread?

Good luck 2017. Love love love your house (but not the fussy staging) and how fabulous to have estate agents taking care of all the diy, cleaning etc.

Is the safe still there?

Perfectly that's a big decision. Wow. Where shall you go? Is it work enabled? Such a big step.

Bore nice to see you here. The safe had just come up. Kyle called and aid be had managed to finally fix the door. He has worked on it every day. Can you imagine? He is one determined young man. He will reinstall it next week. We now do need to decide what to put in it.

As to what happens when multiple bids come in. I assume most times the highest bid wins, as long as financial picture is similar. Since we hope we can offer all cash (once we have accepted a cash offer) then that should push us up beyond a close offer with financing. Out fear is that we are not quite as knowledgeable about the market. I am tempted to offer 100k over asking but that may be way too much or too little. Eek. Let's see.

Yes it was a big decision but, and I know this sounds dramatic so apologies, with Brexit coming up and just the whole uncertainty, we think we'd be a bit silly taking on a bigger mortgage when our plan has been to eventually leave London [sob] as we're not British.

Now that we've decided that I think we're not in the rush we were to get the house sold. We want it gone soon but when we thought we might buy something else here I was feeling very impatient the second I contacted the agency!

100k over asking seems a lot but then I'm not sure what your market is like. If it secures you the home you want (and you can afford it!) then I suppose it's not a bad idea.

Will this then be your forever home or you see another move in X amount of years possible?

Just nipping by to say that is one of the best views I have EVER seen! And your house is gorgeous. You lucky thing!

thanks Guilty it is pretty spectacular.

Perfectly I totally get what you are saying - no apologies for drama needed (we are 'cowering' under Trump - what more needs said?)

We are seeking our forever home - the one in which we shall retire, go traveling from, be able to manage etc. Small, on one level, close to family and able to walk to transport and shopping. We know we have a pretty tall order to fill, but hey - no harm in asking! Does not look like we'll be bidding on the one we saw Saturday though. Our agent brought us back down to earth. With multiple offers coming in, we are not in contention UNTIL we are at minimum in contract with a very soon closing date, or with cash in hand. Of course she is right. We got a wee bit excited there, but have to keep in mind that we have watched at least 5 suitable homes come and go over the last 6 weeks, and there will be more. Patience is needed here. I'm strangely quite fine with it all - guess it was not my dream home.

Our sale is also taking an interesting turn. With the sudden small flood of homes to market (at least 10 added to the 7 that were already up) it is a genuine 'blip' unforeseen in quite some time. It is bound to affect both the offers and the prices, much as we all hate to admit it. However, it is predicted to be a blip and short lived. We had a ton of people at both open house times this weekend, and several groups who came back twice, one three times. Each second and subsequent visit for about an hour. Three more requests for disclosures. Agent says we play it by ear; depending on how many offers are committed today and tomorrow she may advise one more open weekend. May not. Won't decide until tomorrow whether we take offers Wednesday or not. She has kept it rather fluid verbally, nothing in writing, so we don't have to worry about changing our minds and extending the open period.

However, we are both exhausted. I have bags under my eyes in which I could pack my bedding at least. DH is on his last legs and says he can't bear to eat out for even one more meal. Our poor cat is coming home today after a whole week in the 'hotel' and the though of putting her back in is disheartening. Poor baby. We are both committed to doing what is best here though; if it means as big a price swing as agent indicates is possible, we shall shut up and put up with it. We can do it. Probably. Have to just keep in mind why we are moving. If I can really reduce my commute by 2.5 or even 3 hours a day, it is so worth it. We can do it...

Today's update: one 'buyer' coming back at 4:00 today. Another coming in tomorrow morning with her contractor (!) and possibly back in the afternoon with a second contractor. I guess she will be buying it to demolish and build again

Poor kitty will be taking car rides with DH for all of these. He tells me he thinks she quite likes it. Poor kitty; poor deluded DH.

Fingers crossed for you!

agent now says she is telling people to have their offers in by 5:00 p.m. Wednesday. Tomorrow. Given the large number of homes that flooded the market last week, she thinks it best to move now, rather than wait. For reference, just the week before 4 houses closed in our area - on the market for a total of 4/9/7/6 days. Whoa. Who knows what a difference a week can make.

I'm getting very nervous here. What if they come in with offers below the asking price? I think I'll faint. Not sure what then - I'm afraid to ask.

dear god, this is killing me. The waiting! I hope I never have to go through selling again.

It is like a deluge. Suddenly three more houses in my neighborhood - and TWO of them are on my street! What the actual heck? You could not have scripted this to be worse.

I just want to curl up in a ball and wait for it to be over.

It will all come right for you, I have a feeling...

oh please sprinkle the woo all around dear Bore - I'm feeling the need.

✨ ✨ ✨

 ✨    ✨                                                                                                            

       ✨

why thank you. I feel so much better now.

Okay, bring on the offers people! I'm ready for you.

Bore - good WOO. Just got confirmation that at least two offers are confirmed already. We have 2 hours and 52 minutes to go til the deadline.

I may have to take up smoking again to get through this ...

The transatlantic woo is working!

I'll keep the fingers crossed?..

Aw 2017, have just found your thread and am keeping my fingers crossed that you get the result you're looking for. Your house is beautiful - agree with you re the staging though, am sure it no longer feels like home.

And your view is stunning. I'm currently at home, west coast of Scotland and I thought my view was second to none, but yours will be warm and dry so probably just about wins 😂

thank you Autumn if you could please join in and summon up some good Scottish woo that would be much appreciated.

Truth be told, I'd give it all up in a heartbeat to look out my window and see Scotland. Even in the dreary dreich drab winter months it truly is the most beautiful place on earth. It is amazing how much I failed to appreciate that growing up, but now as a tourist I am constantly gobsmacked at the beauty all around.

Just caught up. I must say I quite like the staging but, I really don't like the plastic pot plants. No! But definitely good luck OP, the house looks beautiful!

Sending spadeloads of woo your way! I think we truly don't appreciate how lucky we are. If only it was a little more reliable on the weather front

Taken two nights ago, maybe it will keep you going!

Thank you Autumn. That is truly spectacular. It just feeds your soul when your world looks like that, doesn't it? So very lovely.

Ok. Am on my way home. Could not bear to stay at work one more minute. Would it be wrong to ask my lovely DH to bring booze in a sippy cup when he picks me up? This wait requires something.

Well all you WOO sprinklers did a marvelous job. Only two offers but both enough above asking to get DH the new car he's been coveting. One was 10k above the other but also a cleaner offer and with an agent and finance known to my agent so no risk and a no brainer. Close in 21 days and free rent back to November 10.

What a relief. We are totally ready to stop living with this fake furniture, and to get back to normal.

Fingers crossed we are not counting chickens but it is signed and officially under contract. Whoohoo. Phew.

That is great news!

WOO* HOOOO!!!

(*Do you see what I did there? )

Great news. Now we can all follow your search for your forever home

That's fab news, 2017. Hoping the hunt for a new home goes as smoothly for you.