awedree, Home Buyer in San Francisco, CA

Do you recommend buying in SOMA/South Beach? What is the upside potential of home prices there?

Asked by awedree, San Francisco, CA Wed May 15, 2013

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2
Awedree,

They've both done well in terms of appreciation however South Beach has outpaced SoMa for both condos and lofts. In the last two years alone we've seen the competition for units rise as our inventory has remained at historically low levels.

South Beach is more sought after in my opinion and more expensive than their neighbors in SoMa.
Both neighborhoods offer exciting lifestyles and are quite different. My recommendation would be based on a number of factors-your investment term, price etc.

I don't see an easing in prices going forward and believe interest rates will begin to creep higher and that will propel prospective buyers to act more swiftly.

If you'd like statistics for the neighborhoods let me know.

Regards,
Lizete
0 votes Thank Flag Link Thu May 16, 2013
First, although very close to each other SOMA and South Beach are very different neighborhoods. South Beach has more newer buildings and high rises and is much more expensive. SOMA is in the middle of a huge transition for the better, and if you are looking for upside SOMA is the place to go.

I personally bought a loft in SOMA in 2010, and when we sold it for approx $150K profit last year the number of new restaurants and bars and construction projects was shocking and that is continuing to grow.

I know this neighborhood as well as South Beach very well and would be happy to discuss pros and cons of both with you at your convenience.

Best Regards,

Lance R. King
Founder-Managing Broker

King Realty Group
Cell: 415.722.5549
Email: lance@king-realtygroup.com
License # 01384425
0 votes Thank Flag Link Thu May 16, 2013
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