~1M housing in SF

SF
21

There arent many townhomes in soma/dogpatch/potrero. But there are quite a few lofts, which younger folks like.

https://www.redfin.com/CA/Unknown/2030-3rd-St-94107/unit-11/home/12397176?utm_source=myredfin&utm_medium=email&utm_campaign=android_share&utm_nooverride=1&utm_content=link

This seems like a good choice though the photos are terrible. Why do staging at all if youre gonna put photos like that?

22

Lofts are terrible unless you like having an audience during sex. Maybe younger folks are into that?? :thinking:

2 Likes
23

It’s fine if they are celibates.

24

I suspect most lofts owner regret their purchase afterwards. You can’t raise kids there. You can’t have inlaws visit, which I admit maybe an advantage. The space is just not that functional.

25

In most ~1000 sqft places (loft or not), in laws visiting can be challenging. We’ve had our folks visiting, and being in downtown, we could get a hotel room across the street from us and they didn’t mind.

I agree raising kids can be tough if the kid starts to want his/her own room. But I don’t think those loft buyers have a kid in mind at all. And many lofts have a smaller room on the first floor with a loft space upstairs - those could work. But yeah, it’s not a good space design for 2+ people.

26

Loft is something a young person can buy as a first home and then convert into a rental later as family grows.

27

Well, this Crocker Amazon home finally closed at 1.1M. Close enough???

https://www.redfin.com/CA/Unknown/1071-Prague-St-94112/home/1496549

28

Uh, scratch Bayview from the list…

29

Wow, I worked in bayview for a week of training before moving to Seattle. I took Caltrain and walked to where the training was. It honestly seemed like a relatively safe area that was gentrifying at a good pace.

30

Buy when (and where) there’s blood on street.

31

That was back in 2011.

32

If they are techies they should easily qualify for at least a $1M mortgage with dual income…

33

Mortgage, yes. It’s always the down payment that’s tough to make (+ ~12months of cash reserve). :slight_smile:

34

How about the 5% or 10% down?

35

It shouldn’t be that hard for them to come up with $150K each for down payment if they are techies in late 20s-early 30s with no kids. What have they been spending their money on?

36
  1. Student loans
  2. Uber/Lyft
  3. Avocado toast
1 Like
37

Do they work for startups, so they aren’t liquid?

38

Yes. This is what I mentioned above. Lots of folks in this situation.

39

If they want their first house bad enough they can make the savings happen regardless of the illiquidity. I work at startups as well but I understand not everyone has the same level of perseverance.

2 Likes
40

This one sold for less than 1M. :smile:

https://www.redfin.com/CA/San-Francisco/1887-Oakdale-Ave-94124/home/144317906