With all the new construction going on in The City, everyone has an opinion, including me!
Potrero Hill is the first neighborhood where I owned property when I moved back to San Francisco from the East Coast. This was in the late 90's and at the time I worked at KOFY Television, home of Jim Gabbert's Dance Party. The TV station was in a heavily industrial area right below the 101 freeway near Cesar Chavez so on my lunch hour I would wander around the neighborhood looking for new construction homes that I could afford. Finally I was able to purchase a 3 bedroom townhouse just one block below the public housing projects at 25th and Mississippi in Potrero Hill. I lived happily there for 6 years and then sold it for double what I had paid for it and then bought a big loft in SOMA where I live now.
Last week when my office mates and I went on a bus tour of the latest new construction developments, it crossed my mind that there are new opportunities for people to purchase a property that has the potential to appreciate over the coming years and provide an appealing place to live. But everyone has an opinion. So here's mine on one of the many new developments.
The Potrero is a new complex at the bottom of Potrero Hill. All the units are complete and people have already moved in. The location is ideal, just above the new Whole Foods and within walking distance of all the cool restaurants, bars and stores on 18th Street. The units themselves are well priced and the finishes are nice. But the upside of this property, in my opinion, is the resale and investment potential. Potrero Hill as a neighborhood has become more and more popular and is often called the new Noe Valley. With the massive building of the UCSF complex, more and more renters and buyers are being drawn to the area. If I was a first time home buyer and wanted a nice new place to live in a up and coming neighborhood, I would definitely consider The Potrero. It is likely to hold its value and if you decide you want to hold the property once you move on, there certainly doesn't seem to be a short supply of renters looking for a place to live especially if they commute to the south bay.
Remember, it doesn't cost the buyer a dime to be represented by a licensed real estate agent and an independent agent has your best interests in mind. The sales person at a new construction sale office has the job of selling you one of their units. Be fully informed when you purchase new construction, For more information on The Potrero or any of the other new construction in San Francisco, contact a SOMA Specialist thru this website and we will be happy to share our professional opinions with you too!
