It’s a familiar scenario: a young couple start their lives together in San Francisco and have children – but then move when the kids reach school age. The San Francisco Chronicle recently reported on this phenomenon, with writer Carolyn Said commenting: “[R]eal estate prices in the city have risen so steeply – much more so than in the East Bay – that there’s an extra incentive for longtime San Francisco homeowners to cash out their equity and head across the bay seeking more house for less money.”
But it’s not just more bang for your buck – it’s also the schools. Public schools in the East Bay have a better reputation than those in San Francisco. That’s particularly relevant to John Perry and Rob Picciotto, who were featured in the Chron article. After two decades in the city, the pair moved along with their two kids to Oakland. Additionally, Perry and Picciotto found that they could sell their Bernal heights home and pay cash for a place in Oakland’s Leona Heights neighborhood.
“We don’t have a mortgage any more, which is awesome,” Perry told Said.
Paragon’s own Patrick Carlisle commented in the article that San Francisco is on the leading edge of the appreciation curve, with other places a notch behind. “The majority of our San Francisco neighborhoods have now met or exceeded their previous peak values reached in 2007 or 2008,” he said.
Are you a San Francisco family seeking space in the East Bay? Let’s hear your thoughts.
Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners-- and feeds the dreams of those who wish they could live in Tony Bennett's 'City by the Bay.' Call 415-577-0809 or email firstname.lastname@example.org. www.ceceblase.com