Realtors don’t get many days off. I find myself working in some capacity every single day. A couple of weeks ago, on Easter, I wanted to have a nice relaxing day. The sun was shining, and I planned a day of exercise, brunch, and laying in the sun. Even on the holiday, I checked the new property listings. I do this every morning, and I almost skipped that day’s listings, since I remember thinking that surely nothing new would hit the market that I needed to see.

But I spent a few minutes looking at new listings anyway, and I found a real gem. In Lair Hill, close to downtown and OHSU, a great little Victorian came back on the market. It looked to have a ton of the original 1885 charm, and it sat in a superb location with views of South Waterfront. Listed at $175,000, it was a short sale that had been “pending” for months, and at the very end, the buyer had to back out of the purchase. The house was scheduled for foreclosure in two weeks, so the seller needed a cash offer right away.

Enter the Kloss / Franz family of investors. They just sold their last rehab project and had started looking for a new one. They had already missed out on one house (they wrote an all-cash offer, $40,000 over asking price, and didn’t get it!) and so they were prepared for a long search in the competitive fixer market. When I told them about the house in Lair Hill, they were eager to check it out.

After seeing in person that the house was a real gem, they wanted to write an offer. The sellers already had two cash offers in hand, so we had to rush to get one in. I wrote it up and made my usual plea to the listing agent of why they should take my clients’ offer, and it worked; they accepted my clients’ offer.

With the foreclosure date looming, we had to rush through inspections, and run to the closing table. Today, ten days after the offer was accepted, the sale closed. Now I can’t wait to see this Victorian beauty restored to its former glory!

Tim Pitts
503-317-4312
tim@livingroomrealtors.com