When your house is in a bad shape, getting a generic yes or no on whether you can build an addition to an existing building from architects or realtors is not enough. It might be too small to accommodate a full-size family or you might want to calculate the actual return if you purchased it as an investment. This is the time when you need solid data driven analysis. In order to obtain a digestible analysis, you need to understand zoning regulations, have access to the data on existing building’s setbacks as well as restrictions due to adjacent buildings. This is not easy to do, unless you are a professional developer or you’re willing to pay an architect anywhere between $1,500 - $2,500 for a zoning analysis. Properties in such scenarios have a narrow market and as a consequence, they don’t reach a high sale price.
Fortunately, this was not the case for 2229 Webster St. property. The house was in obvious need for an upgrade, its size was small for a full-size family and getting categorized as historical resource building was discouraging to the regular home buyer. It appeared to be a typical investor/flipper type of property which is on the market to make money off the buyers.
Lisa Miller and Steve Houd, a well-known Realtor team in San Francisco, were determined to get the best possible price, especially since this property was the sole retirement plan for their client.
The pressure was high, the targeted price was ambitious, more so, because the property went on the market during the holiday season. Lisa and Steve wanted to give their best shot to this property and decided to select the City Structure Open House Pro Plan.
With this plan, they not only received the regular marketing material but also compelling data driven visuals and an in-person architectural designer at their open houses. The report revealed that the new owner could add 1,137 sqft of living space and an ADU. This finding was a game changer for them.
Guess what, despite the holiday season, Lisa and Steve reached an unexpectedly high sale price! By making the listing’s potential comprehensive for less savvy buyers and augmenting the property's potential through real numbers, they expanded their outreach to a broader audience, greatly increasing their chances of success. Meanwhile, City Structure bagged its first return customer ;)
2229 Webster Street, San Francisco
This is a case study about how to get 18 offers on your listing and close at 25% over asking price, that too during the holiday season!