Welcome To The Party, Daly City!

Fog City, come on down!!!

Oh, there goes my fav, Fremont, mentioned again… but then again what do I know, I know nothin, absolutely nothin about real estate investing…

I don’t know about last week. But I was in the market for Daly City from March to May and competition were fierce. I don’t think Fremont or South Bay market were that crazy during that time. I have to say prices moved almost if not over 10% from December (when I decided to get a property in Daly City) to May (where I am in contract). But luckily I managed to secure one with only 3% premium only. I was only looking 750K - 900K range with only in 94015 zip code.

Daly City is a gem especially the West Lake area.

Daly City is not bad. I live there for many years and there’s a lot of things i like about it.
The city is doing a great job managing the city.
low utilty fee, all roads repave pretty constantly, most area are safe especially westlake, the cops in daly city are super great ,respond arrive at your place within 5-10 minutes even noise complaint. super convinient. close to SF/millbrae, decent public transportation bart&bus. Not hard to rent out, lot of 2 story homes has great potential, and they have the best dog park in bay area(fort funston)
only thing i don’t like is the fog in summer and school district not so great.

There was an article (I will try to find it) awhile ago touting Daly City as the next hot area. It sounds like we may be there. And it makes sense, the proximity to SF, the opportunity to get a fully detached home with decent/good street parking. With the fully detached ones, I believe the opportunity to do inlaw units is fairly easy so that may be attractive to folks wanting additional income. Yes, the fog in the summer in some parts (up by Skyline) can be a killer. The advantage of DC is that you don’t have to pay any bridge toll to get to the city which is great and BART is also available if you need it.

one more thing to add. Summer fog sucks, but winter ocean view is amazing.

What do you think of St. Francis area? Probably not as desirable as West Lake, but seems convenient. West Lake is too expensive these days.

But SF parking rates will kill you. That and MTC is researching a “congestion charge” like London has with the planned first implementation being SF.

In the end, you’ll pay. One way or the other.

Daly City Bart Station is the best station to commute to SF downtown if you have tried it. Many of my South Bay early bird coworkers park here. 2 minutes per train and you always have seats both way even during peak hour (as 2 lines start from Daly City). Reliable 15 minutes to SF downtown with seat is the commute I never able to give up.
I even installed solar here at my home at Daly City despite the fog and it works out great for me.

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I think it’s a general pattern. The super prime area’s price has risen so high so fast that people are looking for bargains elsewhere. I am seeing my old neighborhood in Evergreen suddenly getting hot this year.

The RE market has shifted to a new phase.

Welcome back, Fearless Leader! We didn’t burn down the place…

Not yet I say…

No one in their right mind is suggesting parking in downtown SF. My SF office building has a daily rate of $40 and you better leave by a certain hour or by locked in for another $40 the next day…

No, what I am suspecting is that Daly City folks who work in the city are driving their cars to the Sunset/outer Mission and taking the Muni in. They just need to watch out for street cleaning days. That would be an alternative to BARTing in and cheapest way to do it. Ooops, secret’s out…

Given the facts on display here, I suggest a RE venture for all of us.

Let’s build and operate a parking structure in the Sunset/outer Mission and charge just slightly less than the City proper?

Think of the money we could make! :relaxed:

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Wow, expensive for Daly City no??? starting at 1.2M???