The UpTake: The real estate market in the San Francisco Bay area is scorching hot. And Beau Eckstein is poised to profit. It doesn’t hurt that he’s landed a gig on HGTV, too.
Bay Area real estate investor Beau Eckstein is in the cast of a new reality series that made its debut this month on HGTV, Flip it to Win it, which pits six teams of investors against each other as they try to make the most profit by flipping homes that have been foreclosed.
At auctions, the teams buy Bay Area homes, then renovate and sell them for a profit.
He talked to the San Francisco Business Times about what we can expect from the show, how it reflects the current Bay Area housing market and what he’s excited to see in housing trends ahead. The following is excerpted from that conversation. For a full version, go to the San Francisco Business Times.
Does the show reflect any trends in the Bay Area housing market?
Absolutely, the market is hot. With all the Silicon Valley dot-comers and lots of acquisitions, it’s a crazy time.The San Francisco market has absolutely exploded and there are tons of projects in the works which is having the effect of pushing out buyers to Berkeley and Oakland. Transportation systems are being set up to accommodate everybody to work in Silicon Valley .And, the Silicon Valley area is “blowing up” because of Google and Facebook and everything going on down there and all of the acquisitions. So, all in all yes, the competition for real estate is crazy, and it’s booming.
What sort of things are you seeing in your work in housing around the Bay Area?
Competition, builders and developers starting to acquire land. We are going into a huge construction boom. Also, investors, buyers, including first-time buyers and relocation buyers.