On ABC7 KGO News
Statistics released from the Census Bureau show that the Bay Area is losing high-income earners and professional folks in their late 20s and 30s to other parts of the country. Indeed, our own client pool is seeing this trend too where folks who would otherwise upgrade from their San Francisco condo to their San Francisco single-family home choose to head “home” to be closer with extended family members on the east coast or Midwest. This leaving-an-expensive-urban-metro-area to be in a small or medium-sized city is even more acute here because San Francisco is filled with so many transplants. See Kevin talk about this on a story that ran in the first part of October on ABC7 KGO San Francisco (about 1 minute in).
For More Media Snippets
MIMBYs instead YIMBYs and NIMBYs Maybe? Kevin and Jonathan Get Asked About Declines in New Construction Starts (Spring 2023)
While acute market forces are curtailing new construction starts now, development here was already an uphill battle. Development timelines take years, so any non-NIMBY-related delays in adding new homes will keep housing prices high that much longer. But even for people who can afford to buy in the Bay Area, there’s a shortage of accessible destination homes for folks who are downsizing or ones who can no longer do the stairs in their 3-story Victorian.
Rather than try to compete with the 49ers’ post-season run as very relevant contenders to be Super Bowl champions, many agents will treat this bit of hometown civic pride like a holiday and accommodate sports fans who are also trying to buy a small part of that hometown.
Talking about new census data saying that San Francisco is losing a key demographic of home buyers due to affordability and more on ABC7 News, KGO San Francisco.
Conflicting news reports about the real estate ‘market’ are concerning because they gloss over the fact that the housing market is very nuanced as each property is unique. Folks can lose sight that buying a home not only serves the very basic purpose of shelter but is also the main way folks can build wealth.
2021 was a banner year for San Francisco’s housing market. See how houses, condos and TICs sold and how demand met increased inventory with prices still going up with Kevin Ho and Jonathan McNarry, Vanguard Properties, San Francisco.
We’re regular contributors to the San Francisco Chronicle Sunday Real Estate Section. Our comments on how staging is never really an option. …
Home staging will show people how they can change their lives by living differently and better than they do now. We cannot underscore how important this really is; forgoing staging runs the risk of costing far more than a staging fee with a reduced sale price.
Even during a Pandemic, people need to buy and sell houses and properties. See why it’s been such a busy market in San Francisco with Kevin Ho and Jonathan McNarry of Vanguard Properties, the largest, locally owned and operated boutique brokerage in the Bay Area.