San Jose REO Home Sold – South 33rd.

by vbrasil on May 4, 2009

154 S 33RD ST., SAN JOSE
san jose reo
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Status: Sold

ML Number: 80903799

Parcel Number: 481-16-013

ZIP: 95116

Area: 4 Alum Rock

City: San Jose

City Limits: False


Thomas Br Map: pg. 834 (F4)

Cross Street: E San Fernando

Unincorporated: False

Beds: 2

Baths: 2

Stories: 1

Class: Single Family Residential

Type: Detached Single Family

List Price: $237,900

Original Price: $244,900

List Date: 1/23/2009

DOM: 53

CDOM: 53

Lot Size (Acres): 0.123

Lot Size: 5360.00 SF

SqFt (source): 924 (Assessor)

Age: 84

Year Built: 1925

Zoning: R18

School District: San Jose Unified


This was quite an interesting home.  Much like other homes in the area there have been a number of modifications with out permits.  This is very problematic when using an FHA loan for the purchase of the property.  In this case the buyer was attempting to use the City of San Jose First Time Home Buyer Program the Welcome Home Program.  Unfortunately the Welcome Home Program has tough requirements regarding properties and a number of low priced REO’s may not qualify.
We were fortunate enough to negotiate a low price of $237,000 with 3% back for buyers Non Reoccuring Closing Costs.  After we had property inspections and there was about $7,000 of Section one we negotiated another $7,000 off the purchase price.  We closed in a month and a half for $230,000.

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