Rising rents and increased demand for rental apartments has fueled the theory that from young Millenials to downsizing Baby Boomers, the recent housing crash has changed the way Americans want to live, shifted attitudes toward home ownership and created a strong new desire for big-city living. Rising gas prices have also pushed more home buyers closer to city centers.

(Read More: Why Women are Driving the Demand for Rental Apartments)

While 23 percent of survey respondents categorically reject the idea of living in a city center, others could be swayed if, again, offered the right amenities. These include walking/jogging trails, nearby parks and an outdoor swimming pool. That bodes well for planned, gated communities.

The age of the McMansion may be over, as money spent on space is reallocated to energy efficiency and home technology. Builders today will look to do more with less space, and buyers who can now afford to be picky about amenities, certainly will be.

Article source: http://www.cnbc.com/id/100491599

San Francisco, CA (PRWEB) April 30, 2012

Vi Pavlicevich of CLIMB Real Estate Group sees a bright future for San Francisco’s Mission Bay. Searching for the perfect place to raise her young family, Vi turned to Madrone and Mission Bay as a quieter alternative to the bustle of downtown, with the added bonus of convenient transportation to stay in touch with the urban lifestyle she adores.

Starting a family requires several things: super human energy, nearly endless patience, and if you’re lucky a loyal support network to help along the way. It’s also an experience that’s best shared with family and close friends. As a Bay Area native, Vi Pavlicevich knew that San Francisco was the only place her young family belonged, the only question left was where to settle down. After surviving three Chicago winters, returning home and setting up roots in the right neighborhood was key. In such a dynamic and fast paced city, making the best financial investment on a home would also be important, setting the family up for fiscal well being or potential struggles down the line. With a keen eye for a bargain and a family in her priorities, San Francisco’s Mission Bay leaped out as the clear destination.

Vi was raised in the Bay Area originally, but moved with her high school sweetheart, later to be her husband, to Chicago for his job in 2008, right at the onset of the financial crisis. As Vi explains, “The cost of living was very affordable. We were able to purchase a 48th story home in a 50 story building, and pay around $400,000 for a home that would have been easily over a million in San Francisco.” Chicago’s lagging real estate market meant prices for homes were at an all time low, with home prices at 60-70% of their previous sales prices. As an interested investor, Vi took advantage on this unique opportunity to heavily involve herself with the growing market for distressed property resale. By taking a proactive approach in locating and predicting future mortgage values on a huge array of homes, she became a seasoned veteran in foreclosure and short sell properties.

Having succeeded in her multiple investments in Chicago, Vi returned to her home city in 2011, looking for a comparable neighborhood; a place where she could buy a home and watch her investment increase in value. Her time in Chicago had taught her first hand: “buying a home is not only choosing the place you are going to live, it is an important financial investment.” Selecting a home that will increase in value over its life is an essential part of the home buying process.

With a passion for urban lifestyle, Vi looked for a luxury highrise that would fit her needs. A lacking inventory in new construction meant that the choices were limited, with developments like One Rincon Hill, One Hawthorne, and the Infinity in her sights. However, one development stood out from the rest. With its high end finishes, convenient location, waterfront views, and very affordable cost per square foot, Bosa’s Madrone made the most sense for Vi and her husband, Ariel. Ariel, who works at a hedge fund in the financial district, felt that “buying in Madrone has a clear investment purpose. At $550 per square foot, Madrone is a true bargain, compared to the average of around $850 per square foot to other downtown highrises.” Predicting fast growth in the Mission Bay neighborhood, Vi and her husband anticipated an upside to their investment in 3-5 years.

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/04/30/prweb9459490.DTL