Our recent sale of 1814 Northshore Dr. at Marina Bay's Anchor Cove community once again achieved a record sales price. We listed the property for $645,000 and received 3 solid offers. The winning offer came in at $672,000 and the sale was promptly closed in about 3 week's time. I had previously sold this very same home to the current sellers back in 2014 for $465,000. So needless to say this is a prime example of wealth created through the process of home ownership. Within a 4 year period this specific property appreciated a staggering 43%! And this does not even take into account the utility that the owners enjoyed simply by having this home to live in and being able to call Marina Bay home.
Although prices do not always appreciate this drastically the lesson remains the same. Owning real estate in the Bay Area is almost always a wise investment, especially in the long run. I have clients asking me all of the time about when the market will crash again and that they will try and time their purchase for when this happens. The short answer is that the signs are not pointing to any future crash, and even if the market was to slow down in the future does it really make sense to sit on the sidelines and hope for a future discount of maybe 5% or 8%? Everybody's situation is different, but if you are in need of a place to live then why rent when you could own?
For more details about this home see: www.1814Northshore.com
Bay Area Modern Real Estate