Sound Off: How does a commute factor into a deal?

13 Mar

Sound Off: How does a commute factor into a deal?

The San Francisco Bay Area is ranked the 4th most congested metropolitan area in the world and commutes on our freeways are frustrating. My clients who work in Silicon Valley ride shuttle buses avidly, which allows them to work, read the news or take a nap. As a result, home prices have surged near the tech shuttle stops.

Additionally, the trend is to get out of our cars and use alternate transit, including BART, MUNI light rail, buses, and bicycles. This is true for all age groups, but especially among Millennials-people in their 30’s.

Millennials are the biggest driver in the real estate market right now because of their numbers and life events. The 30’s are a logical age to form households, get married, have babies, buy a first home or trade up to a bigger home.

Personally, I love seeing the river of bicyclists pedaling on Market Street and other streets with bike lanes. What an invigorating commute in balmy San Francisco!

I always mention access to transit in my listings and I believe that homes near public transit will continue to increase in demand and value.