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Matt Hilzendrager's Blog

By Matt Hilzendrager | Agent in San Francisco, CA

Bernal Heights, the hottest new neighborhood in the U.S.?!

According to SFgate.com and RedFin.com, the Bernal Heights neighborhood of San Francisco ranks as #1 best place to buy, live and sell not only in the Bay Area, but the entire U.S.A.!
But go figure? District 9A as referred to us Realtors, have been stunned by the steep appreciation of real estate values and seeing our buyer clients fight to get into a moderate sized Bernal home. Offers in the double digits (with a few in the triple) have seen properties selling upward from $100k to $250k OVER asking price. Insanity you say? Hard to tell. But when a commodity is hot people will pay more to get what they want, It's a fact. I sold a home to my clients Ani and David on Nevada Street about 7+ years ago for $639k. 3 years ago they were considering selling and the value was estimated at "below" what they originally paid. Today, their home equity price has probably doubled in value. The average sales price in Bernal as of December 2013 was $982,500 with a 24.6% increase from 2012 to 2013. Suprisingly the word "Average" is key here folks. Buying power now is just shy of $1 million. Holy smokes. And neighboring Noe Valley? Oh a measley $2 million.
Just right behind Bernal Heights coat tails is the community of Eagle Rock in Los Angeles, CA. But who cares? No.2 is only second best to No.1-Go Bernal!

See and read for yourself:
http://blog.sfgate.com/ontheblock/2014/01/16/bernal-heights-voted-americas-hottest-neighborhood-for-2014/

 
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