How are Tech IPOs affecting Bay Area Housing?

How upcoming tech IPOs could affect the Bay Area housing market.

Last week, San Francisco-based ride-hailing startup Lyft finally filed to go public – the first of what is expected to be a number of area startups (such as Uber, Slack and Pinterest) that could be making the leap from the private market this year. To understand what this means for those living and working in the Bay Area, I talked to a couple of people in the real estate industry to get their thoughts. The short answer: The IPOs will almost certainly impact inventory and pricing.

Read more on NAI Northern California’s Newsletter

Tina Qi joins NAI Northern California as Investment Advisor in San Francisco

Expert in residential real estate joins the team in San Francisco

NAI Northern California is pleased to announce that Tina Qi has joined as Investment Advisor in San Francisco to focus on residential real estate. Tina brings over nine years of experience, working side by side with developers in getting their residential projects ready for sale. Tina handles everything from DRE Public Reports to working with attorneys and the city government in drafting legal documents necessary for CC&R and Bylaws, and ultimately selling the finished products. In the past few years, she has been increasing her business in land acquisitions and commercial transactions.

 

Is Bay Area housing still a sizzling hot housing market?

Even cool, Bay Area housing market is still hot.

The San Jose housing market has cooled more than any other in the country — and it’s still the hottest in the nation, according to a recent Zillow survey. The bidding wars and quick cash sales have abated, and home sellers are cutting prices more often and waiting longer to close deals than a year ago. But middle-income families still struggle to afford the median-priced home of $1.2 million in the San Jose metro area. A typical family needs to put about $600,000 down to fit that mortgage comfortably in their budget.

Read more on NAI Northern California’s Newsletter

 

 

John Caronna joins NAI Northern California as Vice President in Oakland

Multifamily real estate specialist joins the team in Oakland

NAI Northern California is pleased to announce that John Caronna has joined as Vice President in Oakland to focus on multifamily real estate. John’s combined experience as a multi-unit real estate specialist, property owner and manager makes the transactions stress free for his clients.

How are there over 100,000 vacant homes in the San Francisco metro area?

An estimated 100,025 homes are sitting empty in the San Francisco metro area.

Compared to other cities, San Francisco metro area’s vacancy rate is actually low at 5.6 percent. Of the 1.784 million households counted in the census region, roughly 1.684 million are occupied. LendingTree concludes a region like San Francisco – which includes Oakland, Hayward and surrounding areas is what’s considered a sellers’ market, meaning people selling their homes will easily find buyers, while future homeowners will struggle to buy. Anyone who has tried to buy a home in the city in the last decade knows this to be true.

Read more on SF Gate

Jonathan Kelly joins NAI Northern California as Senior Investment Advisor in San Francisco

Specialist in residential real estate and technology industries joins the team in San Francisco

NAI Northern California is pleased to announce that Jonathan Kelly has joined as Senior Investment Advisor in San Francisco to focus on multifamily investment properties. Jonathan uses his entrepreneurial mindset to develop creative products and solutions for his clients, and spends his free time analyzing market conditions and evaluating potential properties.

 

NAI Northern California’s Tim Warren named East Bay/Oakland Top Sales Broker by CoStar Power Broker Awards

Tim Warren recognized with CoStar Power Broker Award as a Top Sales Broker for the East Bay/Oakland

The CoStar Power Broker Award winners for 2018 were recently announced, and one of NAI Northern California’s top producers, Tim Warren, was named a Top Sales Broker for his work in the East Bay/Oakland market.

As a commercial real estate services company, NAI Northern California was also recognized as a Top Sales Firm in both San Francisco and the East Bay/Oakland markets.

Check out all the CoStar Power Broker Award winners here.

 

James Kilpatrick on Commercial Property Executive : NAI Northern California Grows San Jose Office

President James Kilpatrick quoted on Commercial Property Executive about NAI Northern California’s new leadership hire in San Jose:

“We have had great success working with a multitude of real estate investors on transactions for multifamily, retail, office, industrial, and mixed-use asset types from San Mateo to Palo Alto, Calif., to downtown San Jose and Gilroy, Calif. … Bringing a great leader like Tod Rudee on board is all about doubling down our efforts in Silicon Valley by building a first-class team of institutional brokerage professionals,” said James Kilpatrick, president of NAI Northern California, in prepared remarks.

Read the full article on Commercial Property Executive

 

What are the Golden State Warriors’ latest plans for Downtown Oakland?

Warriors won’t practice in Oakland next season but will leave downtown facility in hands of youth programs.

The Golden State Warriors announced Monday they won’t stick around to practice in their downtown Oakland basketball facility next season as they make their move to the under-construction Chase Center in San Francisco’s Mission Bay neighborhood a complete one. But that doesn’t mean the Warriors are totally abandoning the city that’s been their physical home — if not their namesake — for almost half a century.

Read more on East Bay Times