Seller will finance w/ NO qual.
Here’s a little something to consider while another weekend is coming! Thanks very much to Burbed reader nomadic for this luscious listing in Los Altos Hills.
11195 HOOPER Ln
Los Altos Hills, CA 94024
$4,099,000
BEDS: 4
BATHS: 4
SQ. FT.: 4,700
$/SQ. FT.: $872
LOT SIZE: 1.86 Acres
PROPERTY TYPE: Detached Single Family
STYLE: Contemporary
STORIES: 2
YEAR BUILT: 1957
COMMUNITY: Los Altos Hills
COUNTY: Santa Clara
MLS#: 81217362
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 57 daysSeller will finance w/ NO qual. LOCATION, LOCATION, LOCATION: Private, Secure, Quiet, Serene, with City and Bay Views, and proximity to town are UNIQUE and RARE in this wooded ~2 Acres property. Update or rebuild the existing Comtemp. Style home in this Executive Estate. Detached cottage w/ Full Kitchen is ideal for backyard living/entertain w/ no direct visuals to any neighbors.
And you thought the market was hot, hot, HOT? Then what’s with this seller financing deal, w/ NO qual. That’s probably short for “quality.” Plus you can “update or rebuild” which means the “existing Contemp. Style home” isn’t exactly turnkey. More like turkey.
There’s a virtual tour, if you really want to see how a 1957 house can be Contemp. Style. Maybe that stands for the “contempt” the sellers must have, as they’ve been trying to get out from under this place since 2007. Here’s the listing history, courtesy of Zillow.
Price History
Wrap that up with a ZEstimate range of $2.68 to $4.09 M and maybe some Facebook millionaire will take it off their hands by 2015.
July 6th, 2012 at 7:43 am
> Seller will finance w/ NO qual.
Could it mean the seller has no qualification?
July 6th, 2012 at 8:07 am
“Update or rebuild”
Another way to say, “The value is in the land.”
July 6th, 2012 at 8:19 am
>> Seller will finance w/ NO qual.
Maybe the seller owns the bank.
The bathrooms look pretty awesome. You don’t get those in Palo Alto.
July 6th, 2012 at 9:21 am
That “no qual” thing opens so many possibilities. Buy with nothing down and “rent” until you feel like moving. Tear it down and then decide it’s too expensive to rebuild (and walk away). Other evil ideas?
July 6th, 2012 at 9:52 am
I am genuinely curious what the house looked like back in 1996. Details like the endless sea of granite in the one bathroom point to a fairly major redo of the interior sometime during the McMansion era; the taxable value for “additions” comes to $435,122, which buys a lot of pergraniteel.
More interesting to know is how much is actually owed on this place for them to have been chasing the market down this long. If their total investment is “only” around $1.3 million they were very foolish to have turned down the $4 million dollar-ish offers they were almost certainly getting back in 2007. Bubble hadn’t really even softened yet here then, let alone popped. I smell a distinct whiff of HELOC abuse, although that could just be blind greed. (Easy to confuse the two.)
July 6th, 2012 at 11:12 am
“they were very foolish to have turned down the $4 million dollar-ish offers they were almost certainly getting back in 2007.”
But then there would be no over-bidding, and without all that over-bidding, how would the kids’ education be paid?
July 6th, 2012 at 11:28 am
When I was little my Grandparents lived in Los Altos Hills – they sold in the late 90′s when they decided to retire with a nest egg. If only they could have waited 10 years…they could have sold, waited for several more years, then rebought it for me so I could live my dream of having an Executive Estate!
July 6th, 2012 at 1:09 pm
Ugh, granite countertops. Everyone knows you use quartz or something harder if you don’t want to replace it if you drop a pot on the counter.
July 6th, 2012 at 5:27 pm
Granite is made of quartz… ?
July 6th, 2012 at 6:20 pm
> Other evil ideas?
George Lucas should buy it and turn it in low-income housing.
Speaking of Lucas, he donated land in San Anselmo for a public park.
July 6th, 2012 at 9:03 pm
“By definition, granite is an igneous rock with at least 20% quartz by volume.”
July 6th, 2012 at 9:22 pm
Never understood the attraction of LAH. The scenery is not particularly beautiful. Seems like your average undeveloped area that you can find in any number places. Certainly fails the gallon of milk test.