How I Found It
It all started as a goal of mine for 2022. My most important goal in 2022 was to buy commercial building. I wanted it to be in Old Town and I wanted it to be on one of two streets; either C Street or 4th Street so that I can stay in the Old Town section of Galt. So I printed out of list of every owner on those two streets and started dialing for dollars. I was told no quite a few times. But…when I called this cute little place at 628 C Street, they told me, “as a matter of fact we are interested in selling.” We are putting it on the market next week. OMG!!!!! I had to put my plan in place immediately. I called the listing agent and immediately put an offer in.
Let’s buy our own building!
I called the listing agent to write up an offer for me. Even though I am a broker myself, I thought it best to go through her and just be a client. After some big negotiations, we got an accepted offer. We opened escrow immediately. Now we had to start our due diligence, inspections etc. I was so excited! But…couldn’t talk about it to anyone because it’s a bad omen in real estate to talk about the deal before it’s closed. We were bursting at the seams to share the news! It was terrible to keep all of that to ourselves.
During our escrow, the world started to change. The real estate market started to shift. The rates started to go up, including my rate. The market started to change, but I knew that the market would only continue to go up. It’s a good time to buy real estate. Was I nervous? Yes! I was scared to death, but I knew this was a solid investment for my future.
Are You Going to Keep it Purple
I can’t count how many times I became misty-eyed on my new front patio as I enjoyed Galt’s annual fourth of July parade. I’ve only had keys in hand a few days now, and what a poignant time to finally enjoy it, on a holiday that means so much to me, with a town that means as much. No one seeing me there could have ever guessed how difficult and emotional acquiring this property has been. In our last blog post I mentioned it’s a bad omen to speak of real estate before the deal is closed, but now that it has (as of June 30th…WOO HOO!), good luck shutting me up. But as you’ll soon see, it’s well deserved. This has been such a stressful and emotional roller coaster ride.
So now that I can talk about it, here is the overview: There were two side-by-side commercial mixed-use parcels listed for sale in the heart of Old Town Galt. And we got both! You may know of them already: one parcel is the pinkish-purplish house next to Dry Creek Liquor on C Street just west of Lincoln Avenue. It was formerly Headquarters Salon, a salon that has been in Galt for several decades. This home was built in 1938 and it has a single-family cottage in the back. The second parcel is a 10,000 square foot parking lot to the west. You may have parked there while banking at Wells Fargo. As the title suggests, the most asked question we get is, “are you going to keep it purple?”
While we have been excitedly brainstorming plans for this place, and with a 142-day-escrow (unheard of length of time for an escrow!) we’ve sure had lots of time to conjure up many visions. But sorry to break it to you that not one of them involves purple. Stay tuned to find out why the heck we were in escrow for 142 days!!