9X ROI vs. 50X ROI: Two Burlingame Homes, Two Investment Levels, Both Crushed the Market
When most Realtors® recommend doing the basics and getting your home on the market as quickly as possible, one Burlingame seller took a different approach. They invested $107,895 into preparing their Burlingame Terrace home before listing. The result? The home sold for $2.7 million—$1.1 million over the asking price of $1,595,000—with nine offers. That's a nine times return on investment.
But before you think you need to spend a fortune, another Burlingame seller invested just $16,000 into their Easton Addition home and saw a $50 return for every dollar spent. This same property had sat on the market with zero offers just months before. What's the actual formula? Here's exactly what preparation work pays off, what's a waste of your money, and how strategic investment paired with strong negotiation can net you hundreds of thousands more when selling your San Mateo County home.
Why Strategic Preparation Matters in San Mateo County's Market
Last year in Burlingame, less than 10% of homes sold under $2 million, with a huge supply gap in the mid-$2 million to $5 million range. When your home hits the market in this environment, preparation isn't just about looking pretty. It's about strategic decisions that create competition and maximize your net proceeds.
I've been doing this for 21 years, and the data from my Burlingame sales shows that strategic preparation paired with strong negotiation really does move the needle. In 2025, my average price per square foot runs about 11% higher than the other top 10 agents in the area. The reason? Opening up the buyer pool. By investing in the home, you bring in buyers who want move-in ready condition, not just those looking for fixer-uppers. More interested buyers gives your agent much more to work with from a negotiation standpoint.
The $108,000 Investment: Breaking Down Every Dollar
This two-bedroom home in the Burlingame Terrace neighborhood on Capuchino had been in my client's family for a long time. The investment they made was atypical for most clients at this price point, which was in the mid-$1 million range. Here's exactly where the money went:
Interior Improvements: $45,247
Complete interior paint: $12,000. Fresh paint throughout made the home feel updated without being overly styled.
Hardwood floor refinishing: $21,334. These were beautiful original oak hardwood floors with arched doorways and wainscoting. They reminded me of my mom and dad's home growing up in Burlingame. We refinished them rather than replaced them, preserving their character while eliminating the creaky floors.
Electrical updates: $6,763. Working with a licensed electrician, we fixed outlets that weren't working, switches that didn't turn lights on, and labeled the electrical panel properly.
Professional staging: $5,150. Fantastic staging that helped buyers envision themselves in the space.
The Critical HVAC Investment: $31,554
This was uncommon, but strategic. The HVAC system was nearly original. It worked, but wasn't in great shape. My client could have spent in the low $20,000s without choosing a heat pump. But by investing slightly more in the heat pump, they could market the home as having air conditioning—heat pumps provide both heating and cooling.
Heat pumps use about two-thirds less energy than a conventional furnace, and you can actually get rebates of up to several thousand dollars on those systems. That $31,554 investment included replacing all the duct work, giving the buyer one less thing to worry about later.
This smart investment opened up the buyer pool significantly.
Solving Foundation Fears: $13,800
The home inspection revealed foundation issues. Foundation is the F-word in home buying—you don't want to talk about it, but you have to address it.
Having represented hundreds of buyers, foundation concerns are always a yellow or red flag. My seller engaged a structural engineer, a retired general contractor with 40 years of experience and a civil engineer with structural steel specialty. He developed a plan to improve the foundation. It was a voluntary upgrade, but we didn't want it to remain an unknown for buyers.
My client invested $13,800 with a contractor to complete the voluntary upgrade work under the home, eliminating a potential deal-breaker.
Exterior and Miscellaneous Improvements: $17,434
Landscaping: $7,519 with an amazing landscaper
Exterior touch-up and pressure washing: $2,900. We didn't paint the whole exterior, but did lighter touch-ups where needed.
Window and deep cleaning: $1,280
Rodent abatement: $1,935. We encouraged our clients to address this issue before listing.
Pre-listing home inspection and pest inspection: $1,875. This was done before they spent all this money, so we knew what we were dealing with.
Minor plumbing improvements: $537
Miscellaneous items: $3,800
Total investment: $107,895
What Happened Next: The Numbers
We listed the home at $1,595,000 and sold it for $2.7 million—$1,100,000 over asking with nine offers.
This result isn't common. Few homes sell this far over asking. My grandfather was a professional poker player and senior World Series of Poker Champion back in the late '90s in Vegas. He would always say, it's better to be lucky than good. But we put substantial thought into these strategic improvements. No one pays that kind of money just because they want to. It's because that's the environment created from a negotiation perspective—that's what it takes to secure a well-prepared home.
Net gain for our clients: $990,000
The Competition Reality: What Similar Homes Sold For
Here's what happened to similar properties that were not prepared this way. These homes sold during the same time period within a month or two:
Sanchez Avenue (a few doors down): Original condition, great flow to yard. Asked $1.6M, sold for $2.1M (30% over asking). No significant prep work. Result: $600,000 less than our prepared home.
Capuchino Avenue (couple blocks away): Two-bedroom, one bath, 1,220 sq ft—basically identical square footage. Originally asked $2.3M in April, dropped to $2,148,000 in June, then $1,998,000 in July. Sold at $1,998,000. Same square footage as ours, which sold at $2.7M—$700,000 more.
Near Paloma Park: Two-bedroom, two-bath, 1,600 sq ft. Asked $1,849,000, sold $151,000 over at $2M. Larger home than ours, but still $700,000 less.
Lyon Hoag neighborhood (premium location): Two-bedroom, one bath, 1,340 sq ft on larger lot near Washington Park. Asked $1.8M, one offer. Original condition, all original systems, likely asbestos duct work, probably knob and tube electrical. Great location with attached garage, but someone's going to invest quite a bit replacing plumbing, HVAC, and electrical. I can only imagine what the outcome might have been if the sellers had invested in the home prior to selling.
The Pattern: Preparation Creates Competition
The pattern is clear. Properties without prep sold at or slightly above asking, or required price adjustments. Our property, where the owner made a significant commitment, sold for $1.1 million over asking with nine competing offers.
Very similar neighborhood, similar location, similar time of the year. Ultimately it's about creating competition and maximizing the return for the seller.
I've seen time and time again where this approach coupled with a really good negotiation strategy can really reward turnkey homes in a dramatic way.
A Second Chance Story: From Zero Offers to Eight Offers with $16,000
This home in the Easton Addition neighborhood (Burlingame's second most expensive and very popular) first came on the market last spring with a different agent at $3,750,000. Tree-lined street, basically a horseshoe with no through traffic. One of the best homes on one of the best blocks in the neighborhood.
The seller had lived there for about 30 years. Very good physical condition, great floor plan. In my view, 80% of buyers in this price range would be interested just for its location. But it sat on the market with no offers. One of the sellers was a designer and they loved their home exactly how it was—photographed with personal items and designer pieces. Sometimes buyers just need to see the home as a blank canvas. That's the approach we took when I got involved later in the summer.
The $16,000 Transformation
The clients had already moved out and purchased another property. My recommendation was straightforward: the home was in great shape structurally, but needed a different presentation approach.
We engaged a professional photographer with quality lighting and changed light bulbs throughout to create a fresher look. Our client made strategic cosmetic updates:
Fresh painting throughout
New light fixtures (including a Visual Comfort fixture for about $1,500 that significantly enhanced the space)
Different presentation on the furniture and staging
Our client even worked with their neighbor to refresh the front lawn for better curb appeal. Your first open house happens on the internet—that's where all buyers are looking. Their first impression of your home is online, before they ever walk in the door. How your home is presented online is critical.
Total investment: $16,000
The Results: $50 Return on Every Dollar
We relisted the home at $3,150,000—about a half million less than the previous asking price from a few months earlier.
The property sold at $3.9 million—an outstanding outcome. That was almost $800,000 over asking. More importantly, it was $35,000 over where it had been listed before with zero interest.
The home received eight offers, several of them cash.
For every dollar our client invested, they received $50 back. The S&P 500 returned about 17% in 2025. This investment returned 5,000%!
The marketing strategy focused on opening up the buyer pool through neutral presentation. We removed personal items from the living room and brought in neutral staging. Kitchen countertops were cleared completely. The dining room and family room became more open and inviting without personal style elements. Bedrooms received clean, hotel-like presentation.
The Formula Revealed: Opening Up the Buyer Pool
This approach applies across San Mateo County—Burlingame, San Mateo, Belmont, San Carlos, Daly City, South San Francisco. The concept: open up the buyer pool and generate more interest. More interested buyers gives your agent significantly more leverage from a negotiation standpoint.
Buyers are willing to pay a premium for properties positioned correctly from day one. Most buyers don't need a $40,000 appliance package. But they want move-in condition: good floor plan, good street, properly maintained systems. When sellers address issues in advance and document everything properly, there's tremendous value for the buyer. The seller captures that value in the final sale price.
First Impressions Win: Why Online Presentation Matters
Homes frequently come on the market with minimal to no preparation. Buyer clients make judgments based on photos, price, and Street View before reaching out. Your first open house happens on the internet—that's where all buyers begin. Their first impression of your home forms online, before they ever walk in the door.
Good marketing benefits both seller and buyer. If buyers can get a good sense of what the home is like in advance through quality photos, 3D tours, and floor plans, they're more excited to see it. Only about 60% of homes sold over asking price last year, despite what everyone says about it being a hot market. About 40% of homes aren't selling over asking. Sellers might not even know they could have got more if they'd invested in a few key things that didn't cost much and only took a few weeks to do.
Strategic Choices Only: What Actually Pays Off
It's not just about spending money. It's about spending it on the right things. There's specific improvements that can get you a nine times return and others that won't get you anything.
Smart Investments That Pay Off
Remove window treatments: In 80-90% of our listings, we remove window treatments unless they're beautiful, custom, and new. Old or dated treatments are expensive to clean, and from a photography perspective, their absence allows significantly more light into the space, creating a fresh appearance.
HVAC replacement: This strategic decision could have been disclosed as-is, but replacing the entire system when it's brand new eliminates one major concern for buyers. Heat pumps use about two-thirds less energy than conventional furnaces.
Refinish floors rather than replace: Original oak hardwood was refinished throughout the main level. The lower level received LVT (luxury vinyl tile) due to higher traffic patterns.
New carpeting in bedrooms: Carpeting doesn't cost that much and gives a fresh feel.
Professional photography with quality lighting: Strategic light bulb replacements throughout the space create a fresher appearance in photos.
Foundation engineering and upgrades: Getting an engineering opinion and making upgrades eliminates unknowns that create buyer hesitation. Foundation concerns shouldn't remain mysteries during the sale process.
Neutral staging and removing personal items: Buyers shouldn't feel like they're walking into someone else's home. Showrooms work because they lack personality—buyers can envision themselves in the space without distractions from previous owners' style choices.
What Not to Fix Before Listing
Single pane windows: Single pane windows are energy inefficient and allow traffic and airport noise. However, proper installation requires removing windows, reflashing perimeters, applying new stucco or siding, and obtaining permits—a complex process we typically don't recommend for pre-listing preparation.
Floor plan changes: Challenging floor plans should be addressed through pricing rather than renovation. Price the home to reflect layout limitations.
Roof replacement (unless wood shake): Replace wood shake roofs if possible—buyers otherwise must use California Fair Plan insurance, which only covers fire damage, not water damage or other standard homeowners coverage. Standard composition roofs, even if 20 years old, typically don't require replacement before listing.
The Real Market Data Behind Strategic Preparation
Two Burlingame homes. Two different investment levels. Both saw incredible returns because the preparation was strategic, not excessive.
First home: $107,895 invested → $1.1M over asking → nine offers → 9X ROI
Second home: $16,000 invested → $800,000 over asking (and $35,000 over the previous zero-offer listing) → eight offers → 50X ROI
Meanwhile, similar homes in the same neighborhoods at the same time sold for hundreds of thousands less—or required multiple price reductions. The pattern is clear: properties without strategic preparation sell closer to asking or below, often after price adjustments. Properties with the right preparation create competition. Competition maximizes your return.
This isn't about spending the most money. It's about spending on what opens up your buyer pool—what makes more people see themselves in your home, what removes the unknowns that create hesitation, what positions your property to stand out when 40% of homes don't even sell over asking. Every home is different. Every situation is unique. But the principle remains: strategic preparation paired with strong negotiation creates results that generic advice can't match.
If you're thinking about selling your San Mateo County home and want to understand what preparation makes sense for your specific situation, let’s connect. I'd be happy to walk through your property and show you exactly where strategic investment pays off and where it doesn't.
This article is copyrighted by Raziel Ungar and may not be reproduced or copied without express written permission.
