Is San Francisco Hipper Than Ever?
With all of the recent and soon-to-come IPOs, The Wall Street Journal posted an article speculating what changes are coming for the San Francisco and Marin real estate markets. Hint: Different than that last IPO boom-time. While the previous generation of techies opted for traditional “fancy” neighborhoods such as Pacific Heights, or tony Peninsula suburbs like Atherton, the current tech titans are opting for more modest abodes in “up-and-coming” neighborhoods.
It’s is definitely a cultural shift. The new generation of tech executives don’t want to be tied down by an expensive mortgage, many prefer public transportation to cars, and they want to be a part of the city and its culture. Neighborhoods in the South San Francisco are seeing the most action because of the network of tech shuttle buses traversing the area. A location close to an Apple/Google/Facebook shuttle bus line often increases a property’s sales price substantially! Finding a property with a close proximity to bus lines, flat streets for bicycle riding, food trucks and dive bars– is an example of a neighborhood that may benefit from this new IPO buzz.