House in Escrow after finishing Rehab - a few glitches along the way!

Finished rehabbing house in Fairfield.  Put back on market at $255k, and went into contract with a $275k conventional buyer.  Had a total of 7 offers within 48 hours, 5 of which were over asking.

Buyers inspections brought a few issues.  I had a termite inspection before selling which came up clear but buyer's inspector said there were termites - what???   Sent my inspector back out and he sent a supplemental report saying that there are no termites - all forwarded to buyer's agent, so waiting to hear about the stand off!!

Home inspector frightened the living daylights out of me regarding roof trusses - new addition had been added about 5 years ago - with permits - and three of the original trusses had been cut flush with the roof line (pics below).   Home inspector says "some of the truss components have been cut.  This can compromise the structural integrity of the manufactured truss and could allow the roof to sag.  Contact structural engineer for repair specifications and have contractor make repairs"  - oops I said.

Fortunately, when I did as I was told and got an engineer out there, he advised me that this was likely done when the addition was put on and the pitch of the roof was changed, allowing a greater span, so all ok - whew!

Hoping this thing will close by next week:)

San Rafael Closing

Just closed on this house on Las Gallinas Avenue in San Rafael.   4/2.5 1952 sq. ft.

Made offer in January at asking of $620k.  Had thought it was a bit high at the time, but feedback was that bank were adamant on the list price and had rejected several offers that were less.   Due to lack of inventory, I went ahead and made the offer thinking that I would try to renegotiate upon approval.

As luck would have it, the approval process took over 3 months, the market has gone crazy, so my $620k is now a good deal!!

House needs updating - new kitchen, bathrooms, refinishing of hardwood floors, paint, some new carpet, fixtures and new garage door, then back on market for $795k

Work in Progress Fairfield

Getting ready to go on market this weekend - had a few days delay in painting the outside due to high winds here!

Lots of people driving by and giving the crew phone numbers to contact them before it goes on MLS.  Extreme shortage of inventory here.

Thankfully, we have another short sale accepted not too far from this one which we will be moving onto next.