Property Q&A in Berryessa>Question Details

denise.chan, Home Owner in San Jose, CA

This is a 4 bedroom, 3 bath approximately 3100 Sq. Ft Home completed being remodeled in 2008. What would be the value of this house.?

Asked by denise.chan, San Jose, CA Sun Feb 24, 2013

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This question was asked from this property: http://www.trulia.com/homes/California/San_Jose/sold/7587938…

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3
Denise,

I would need to see the home to give you a fair market value opinion. Their is no cost to you for me to provide this information. If you are interested, drop me a note off line.
Web Reference: http://www.terrivellios.com
1 vote Thank Flag Link Tue Feb 26, 2013
Hi Denise,

A quick search didn't turn up any sales records for the home so I would guess that you owned it before it was remodeled. The county assessor office shows a much smaller home. If the remodeling was done with permits a couple roughly comparable recent sales show prices from $550k to $640k.

Signed off inspections would be quite important if you wish to sell your home.

Recent San Jose real estate sales are posted at http://julianalee.com/san-jose/san-jose-home-sales.htm

Real estate statistics for Berryessa are posted at http://julianalee.com/san-jose/berryessa-statistics.htm

Juliana Lee
Cell 650-857-1000
Top 3 agent nationwide at Keller Williams Realty

Over 30 years experience
Over 1,000 home sales completed in Santa Clara and San Mateo Counties
Web Reference: http://julianalee.com
0 votes Thank Flag Link Sun Feb 24, 2013
Thank you for your question, Denise:

The records that I see on this home show that the original house was 1,800 square feet with 3 bedrooms and 2 baths, built in 1971 on a 6,000 square foot lot. The records do not reflect the additional construction.

If the remodeling was done with permits in 2008, I expect that the records should have been updated by now.

The most common reason for the records to not show the additional square footage is that the contractor failed to get the final inspections for the building permits. Essentially until those permits are finaled, there are no permits on that additional construction. It is the same as if the contractor had never applied for permits in the first place.

I recommend that you check with the San Jose Building Department to confirm whether or not the contractor who added the square footage received the final inspections on the building permits.

If the contractor has not received the final inspections on those building permits, I recommend that you contact the contractor immediately and demand that he get the final inspections done and get the final Building Permits at his expense or you will take legal action against him.

Those building permits are worth a lot of money to you, but only if they are finaled.

It is not uncommon for contractors to fail to get the final building permits. sometimes they do not even apply for a permit, or they run into problems during the construction, cannot pass the building inspection, and just complete the construction and demand payment from the homeowner without calling the inspectors back.

The homeowner is often unaware that the permits are not finaled until the homeowner tries to sell the house. .

I have seen a number of cases where the homeowner had paid the contractor for the construction, only to discover years later that the contractor never completed the process of getting the final signatures on the building permits.

In one case I had to have my Attorney contact the contractor to have him come back at his expense to complete the process to get the final building permits. the contractor wanted to charge my client extra to come back and complete the permit process. My Attorney said absolutely not under any circumstances would that contractor be permitted to charge my client anything more to get those permits.

Without final building permits the additional construction adds very little value, if any to the house.

Assuming that you have final permits on the construction, a 3,100 square foot house with 4 bedrooms and 3 baths in that neighborhood would have a Fair Market Value in the vicinity of $900,000.

However without the final building permits the Fair Market Value is several hundred thousand dollars less.

If the contractor did not get the final signatures on those permits, then demand that he get them at his expense or you will take legal action against him.

Do not let the contractor try to charge you any extra money to get those permits for any reason. If the contractor attempts to collect any money from you for those permits or permit fees, contact your Attorney and have your Attorney contact the contractor.

For more information you may contact me at my cell phone: (408)509-6218

Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
DRE#00901872
0 votes Thank Flag Link Sun Feb 24, 2013
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