Posted On: Friday, June 15, 2012 - 11:00am | Posted By: Kevin Koerner
Topics: Market Statistics | Tags: bidding war, bus stop, diverse, diversity, facebook, Google, inner city, Inner Mission, millionaire, millionaire next door, Mission, Mission Bay, mission dolores, neighborhood, real estate, san francisco, shuttle, techie, technology, transitional, trend, Wall Street Journal, wsj, wsj on-line, Zephyr, Zynga | Neighborhood: Inner Mission, San Francisco: Profile and Properties for Sale, Mission Bay, San Francisco: Profile and Properties for Sale, Mission Dolores, San Francisco: Profile and Properties for Sale
Did you ever think the day would come when having a bus stop right outside your door was good for your property value? Tech-company employees and entrepreneurs are the driving force behind the surge in San Francisco home values in 2012, and the properties they tend to choose are surprising.
In stark contrast to the conspicuous trophy-houses of Pacific Heights, purchased by the dot-commers of the past, modern-day technophytes favor the humbler homes of inner-city hoods, even those not known for their high safety ratings. With their eyes wide open, these earthbound techies are opting for dicier digs, perfectly willing to take a chance on a transitional area, such as the Mission District. Particularly attractive addresses, like those located next to a Google or Facebook corporate shuttle-bus stop, are the objects of full-on bidding wars.
Sources: Wall Street Journal (content), Zephyr Real Estate (video)