San Francisco Fixer-Upper Listed with Paragon Real Estate Group Sells for 61% Over Asking and Breaks Record for Outer Sunset Neighborhood Home Sale
Small fixer upper with marketing plan inspired by a seven-year-old receives nine offers in less than a week and closes more than $600,000 over its asking price.
SAN FRANCISCO, July 5, 2018 /PRNewswire-PRWeb/ -- A small Sunset District bungalow on a modest block with an unusual marketing plan closed today for $1,610,000, 61% over its asking price of $999,000. The price per square foot for the home was $1,563. Average selling prices for the neighborhood since the beginning of the year are $1,043/square foot with a median price of $1,390.000.
The 2BR/1BA fixer at 1466 46th Avenue built in 1927 featured 1071 square feet on the main floor with an older kitchen and bath in need of a major overhaul. Downstairs, two scrappy unwarranted rooms offered potential but were still in need of substantial repair. Median home prices for the neighborhood run $1,390,000 overall and even less for the smaller homes.
Listing agents Cece Blase and Meredith Martin think the kismet of the selling price is due in some part to good timing and a set of architectural plans for an addition downstairs.
But it may also be about the marketing. Inspired by Oliver Reynolds, the owner's young son, Blase and Martin wrote a story about the home from the seven-year-old's perspective that begins, "Once upon a time I lived in a bungalow by the sea." The tale continues with Oliver's moments in the home that include playing with toy boats in an old-fashioned bath tub, learning whiffle ball in the back yard and falling asleep to the sound of ocean waves.
The "Oliver" approach was reinforced with props inside property such as a photo montage of the home's young occupant, a chest of his favorite toys, and signs indicating where he did his homework, played video games and went to sleep.
"So many real estate ads are really just a bunch of photos plus a description of the home's floor plan and features," says Cece Blase, the home's listing agent. "A picture says a thousand words anyway, so we tried an out-of-the box approach this time and showed the home through Oliver's eyes."
The home received nine offers and went to an all-cash buyer who loves music and surfing. He plans to turn the downstairs rooms into a recording studio and take advantage of the waves at Ocean Beach three blocks away. The Sellers look forward to buying a new home in the Portland area and stashing away any extra money into Oliver's college fund.
"This market is hot for single family homes right now," says Blase, "But this is one of those rare instances where a marketing plan with an emotional hook just may have brought more buyers to the table."
Cece Blase and Meredith Martin are agents with Paragon Real Estate Group in San Francisco. They have a combined 50+ years of experience in San Francisco real estate sales and rank among the City's top 5% in sales. Their success is rooted in a consistent practice of fun, integrity, honesty and commitment to our clients' best interests.
SOURCE Paragon Real Estate Group
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