A Tale of Elderly Abuse and Fraud

Working in a line of business where it's a necessity to have your cell phone number plastered all over signs, newspapers, and the internet can lead to some pretty interesting phone calls. 

Earlier this month, I received a phone call from a gentleman located in Idaho. He identified himself as a 2nd cousin of an elderly lady who lived in Santa Cruz County. This gentleman, who I'll refer to as Mr. Smith, represented that this lady, who I'll refer to as Mrs. Jones, was like an "Aunt" to him.

Mr. Smith began telling me that he was going to help Mrs. Jones sell her property, valued upwards of $1.1 million dollars, so she could downsize into a smaller home and have some cash on hand to help with medical expenses.

My impression of Mr. Smith was not high after listening to him for a couple minutes. I think Mr. Smith thought of himself as a smooth talker; but what ended up coming out was a convoluted idea of how he thought I should help Mrs. Jones sell her home but never actually meet with her. In the end, of course, Mr. Jones thought he was entitled to 7-10% of the proceeds that could be wired to him directly for his "role" in facilitating the sale.

Nothing felt good about the situation Mr. Smith was describing. I tried explaining to him how our marketing works, the care that we have for our clients and the importance of placing his Aunt's property on the local area MLS.  Mr. Smith was insistent we procure and represent the buyer and sell the property off market for $1.1 million even though "it is worth much more than that." I couldn't explain to Mr. Smith enough how that was a serious disservice to Mrs. Jones.

By now, my internal alarm bells are ringing. Mr. Smith hasn't given me an address and gently evades the topic when I repeatedly ask, but eventually he gives me his Aunt's name.  He ends the phone call with lots of encouragement, saying he's confident I will get the job done because he's chosen me after all.   He plans to email me pictures of the estate so I can get promptly to work and find a buyer.

Angel and I had lengthy conversations about the absurdity of what Mr. Smith was trying to do.

Sell a property without ever actually meeting the seller? Not typical, but OK we've done it before with out-of-state clients.

Sell a property without ever having ANY contact with the seller and wire funds to a third party? I don't think so.

But the ultimate question: What if this is actually a real person and someone is trying to take advantage of her?  Surely, we must do something to alert this Mrs. Jones. The whole situation didn't sit right with me.

Mr. Smith was true to his word and did send me photos of what looked like a lovely gated, estate property with a pool, pool house, and wonderful views. Yes, I'm sure it was worth more than $1.1 million.

I decided to research Mrs. Jones and, sure enough, was able to locate a property that matched Mr. Smith's description.  Angel and I decided the right thing to do was to drive out to this estate and try to make contact with the owner to warn her of what Mr. Smith was trying to do.

Angel and I went out on a Friday morning, pulled up to the home and rang the gate multiple times. After about 10 minutes of no answer, I didn't feel right just leaving so I ventured over to the neighbor's house and asked if they knew Mrs. Jones. The neighbors, of course, were extremely skeptical of me when I explained why I was trying to reach Mrs. Jones.  I was asked to present identification and credentials.  Ultimately, though, I think the neighbors could see that I had nothing but good intentions and called Mrs. Jones.

It turns out Mr. Smith was actually related to Mrs. Jones and had recently visited from Idaho to help care for Mrs. Jones who was having health issues. But everything else Mr. Smith had represented was a lie. He was trying to take advantage of his own relative and commit what amounts to elderly abuse and fraud.

Mrs. Jones was, as to be expected, shocked and hurt by my recount of events. Nobody should ever hear that their own family is trying to steal from them.  The neighbors were appreciative of our efforts and asked if most other Real Estate Agents would have done the same thing. Angel and I explained that we can't speak for the rest of the Real Estate community, but for us, because of the high standard in which we operate our business and the genuine care we have for our clients, it wasn't an option to walk away and hope that nothing bad happened to Mrs. Jones.  We needed to make sure that nothing happened to Mrs. Jones.

It was a great way to start our 2016 out in a positive direction.


Aimee Thayer-Garcia is a Real Estate Broker Associate at Bailey Properties. She is Top-Producing Agent and practices Real Estate full time with her husband, Angel Garcia. Mom of 3.  831-435-9146. ATGarcia@BaileyProperties.com

This is what $10,000,000 looks like in Santa Cruz

4660 Opal Cliff Drive, Offered for $10,690,000

It's been 4 months since Santa Cruz County has had a $10,000,000+ listing on the open market and nearly 9 months since the last closed sale.  When this uber-luxury listing popped up for sale on Opal Cliff Drive, I was excited.  Finally.... maybe Santa Cruz will finally breech it's glass ceiling.

I was really, really, really (to the 10 millionth "really") ready to be inspired, awed, and rendered speechless.

For the younger generations,
this is the adult
equivalent of MTV's "Cribs."

I had grandiose visions of previewing this property and transporting myself into my own real-life episode of "Lifestyles of the Rich and Famous."  For those of you that don't know, this was a TV series hosted by, none other than, Robin Leach in the 80s and early 90s.  One of my favorite shows to watch, I might add.










So what does $10,000,000 get you in Santa Cruz?

Strictly speaking numbers, it will buy a 4100+ square foot, 1939 home with 5 bedrooms, 5 bathrooms, a 3 car garage and bonus room on 1.23 acres spread over 3 parcels.  So the value must be in the amenities and the view, the estate setting, right?

1 Thayer Rd sold for $13,700,000 in December 2014

In the last 5 years, Santa Cruz County has had only ONE sale (on the open MLS) above the $10,000,000 mark. That property was located in Bonny Doon and sold for $13,700,000 in December 2014. It was a 5000+ square foot ranch on 147 acres with a caretaker's cottage, guest cottage, and all of the modern amenities a luxury buyer could want. Multiple barns, a wood shop, surfboard storage, crystal clear pool, views to the Ocean, and a fully restored and updated main residence.







Back to Opal Cliff Drive-
The view was amazing. There's nothing like opening up the sliding door and smelling salt-rich air from the Pacific Ocean. An acre of ocean front property is also unheard of in Santa Cruz. It really is a once in the lifetime opportunity to gobble up a limited piece of prime coastal front property.  The reality is we can always build more homes, but it's not like we can "make" more coastline.







But here's where I feel a professional obligation to set the record straight.  If you're looking for all of the bells and whistles, keep looking.  You won't find a 3-car garage with pristine epoxy coating, so clean you can eat your dinner off the garage floor. The garage looked barely worthy of hosting a Tesla. There's no infinity pool with waterfall spa or a high-tech home-system hub that is so futuristic it requires you to download an app for the app.  The most updated section of the home was probably a mother-in-law wing with it's own kitchenette, fireplace, and sitting room.  Hardwood floors, sure.  Crown moulding, yup.  But overall, there  was no consistency with the updates. A long, inviting and modern hallway would lead to a 1950s wallpapered bedroom with the old windows in metal casing and hand cranks.

Dilapidated Play Structure

No epoxy coating here.

"Bonus Room"

Here's what $10,000,000 looks like in other areas

$9,995,000 Highland Beach, FL

$9,900,000 Rye, NY

$9,995,000 Harwich Port, MA

In the past 12 months there have been 42 luxury property sales ($2,000,000+) in Santa Cruz County. With close to 50% of those being all cash purchases, the real money is coming in from the Silicon Valley. These "new money," affluent, GenXers expect the latest in updates and amenities. They don't want CAT-5 wiring, they want CAT-6.  Energy efficient systems don't mean anything unless they're plugged into the latest and greatest NEST system to be operated remotely from their iWatch.  No Uber or Lift service in the area? Forget it.

These young, high end buyers are of the mindset, "I want it. I want it now, and I'll pay a premium for it."  Trust me, as a Cupertino-raised and educated person I know how these people think. I grew up with them, went to high school with them, I took my SATs with them. In 2011 tech start-up Punchd was acquired by Google for a $10,000,000+ price.  Niket Desai, one of the developers, hailed from the same high school I attended.

My point is the money is here in Santa Cruz County. It's not just one commuter bus leaving from Scotts Valley; there are multiple commuter buses shuttling high-tech employees to Google, Apple, Netflix, and Yahoo!.  The next $10,000,000 buyer is already eating at Penny Ice Creamery, surfing the waves off 38th Ave, and dining at Suda.  It's not the price tag that scares off the new buyer, it's the horrific lack of updates.  Out with the OLD. In with the MODERN. Let's give them a house they want to spend $10,000,000 on.

On a final parting note.....
The drought doesn't discriminate. Even the uber-wealthy have dead grass. 

Aimee Thayer-Garcia is a Real Estate Broker Associate at Bailey Properties. She is Top-Producing Agent and practices Real Estate full time with her husband, Angel Garcia. Mom of 3.  831-435-9146. ATGarcia@BaileyProperties.com