$1,118,000: 2001 Sacramento, San Francisco
Pacific Heights condo, San Francisco
2001 Sacramento St., #6, Pacific Heights, San Francisco
Days to remodel complete: 12
Days on market: 3
Carrying costs saved: $46,000
Days to close: 15
Return on investment: 310% (actual vs. projected sales price, without improvements)
The first day on market, Craig phoned all the agents in the Pacific Heights neighborhood who were representing similarly priced 3-bedroom units. That day, one agent toured with his client. Two days later, Craig negotiated an attractive contract for the estate.
The unit across the hall finally sold on its 259th day on the market, after 4 price reductions, and for $23,000 less than this condo.
Craig was hired to handle this trust administration sale by the attorney representing the estate.
An identical unit across the hall had been on the market for 211 days, without a single offer. Its price had been reduced twice.
Craig concentrated on three areas, advising the estate to expect at least a 300% return on cash invested to freshen up this very tired unit:
- restore the unit back to a 3 bedroom (the deceased had repurposed one of them)
- replace the wheelchair-height kitchen bar with a standard-height Carrera marble top to create an eat-in kitchen
- replace all gold fixtures with silver to provide a cleaner look and attract younger buyers