Did you know that your empty, or possibly forgotten / run down home in the Richmond District is worth MILLIONS of dollars? This applies to all of San Francisco to be honest. I’m not kidding.

You see, I could sit here and write multiple paragraphs and countless words about the real estate market in San Francisco, specifically the real estate market in the Richmond and Sunset Districts and tell you the median price, average days on market, months supply of inventory and all that stuff that either sails right over your head, or goes in one eyeball and right out the other. What you probably want to hear, and know, is that your home is worth a TON of money, and there are countless buyers out there who will pay top dollar to get it. So why aren’t you selling!?

I live in the Richmond. I ride my bike around the Richmond, Sunset, Golden Gate Park. I walk our streets. I visit our shops, restaurants, and parks. I’m continually baffled by the sheer volume of homes that sit empty, forgotten, and left to rot. (Out my back door I literally have at least 3 homes that are empty.) If that’s your home, or someone you know, they should be putting it on the market and passing it on. We have a supply problem here in the Richmond / Sunset, and that supply problem is money in your pocket.

– 826 40th Ave (Sold $1,400,000)

Case in point: I just sold 826 40th Ave for some clients. They had been approached by “We Buy Bay Area Houses” guys, and they offered them $750,000. Not knowing the value of their home, the sellers almost took that deal. Seemed pretty good right? Cash. Quick close. No marketing. No prep. Luckily for them, they got in touch with me.

As soon as I walked in their home I told them it was worth at least $1.2M, even needing a new roof, new kitchen, new bathroom, new floors, new stairs, new electrical, new plumbing, and basically everything. Downstairs had been remodeled without permits, and the home my clients called their “beloved fixer” was suddenly worth hundreds of thousands of dollars more than they had ever imagined.

Fast forward to getting on the market at $995,000 with practically zero preparation (no painting, no staging, no hauling, nothing except doing inspections and getting our disclosure package in order…), having multiple open houses with literally hundreds of people coming through even in driving rain, setting an offer day, receiving 25 offers in writing (there were still more verbal offers I simply said were wasting their time as they weren’t already over $1.2M), countering 8 of the all cash offers, and ultimately settling on one cash deal for $1,400,000, with a 7 day close, and sellers to remain in the property for 29 extra days after close absolutely FREE, to get themselves sorted and move out. That’s $650,000 more than they would have made selling off market to the guys that put ads on TV, and they are able to move out of San Francisco and buy a brand new home where they’re going for cash. No mortgage. Winning!

So talk to a Realtor about selling your home before talking to anyone else, do not accept pre-emptive offers unless they’re just THAT good, and know that there was only one winner on this property, so there are at least 24 (way more actually) buyers out there looking for something similar, so why not list and sell that vacant or run down property you’re sitting on? It could literally be worth millions.

Take that tropical vacation. Buy that Porsche. Fund that retirement or college account. Get out of dodge. Find that greener pasture. What the heck are you waiting for!?

p.s. Your lived in and loved home is also worth millions, so if you too are pondering a move, just do it!