SF house price spike is third highest in nation

Southern California-based data company CoreLogic released its quarterly National Home Price Index Tuesday and found that San Francisco’s home price bounce since 2017 was the third highest in country.

Over the past two months, sources like the California Association of Realtors and Paragon Real Estate Group peg the median asking price of a San Francisco home at a record $1.6 million, nearly double what it was just five years ago.

So, it’s not surprising that CoreLogic’s Case-Shiller Index indicates an ongoing typhoon of housing expenses too, although the way that the Case-Shiller process calculates value does make for a few extra telling conclusions. Among them:

  • The index’s 20-city composite score, which “measures the value of residential real estate in 20 major U.S. metropolitan areas,” was up 6.8 percent year over year in the first quarter. In San Francisco, however, it was 11.3 percent.
  • That 11.3 percent appreciation is number three in the nation, behind only Seattle (at 13 percent) and Las Vegas (12.4 percent). SF’s overall index score of 261.8, however, is higher than both of those cities, coming in second only to LA’s highest-in-the-nation score of 278.27. The national score was just 198.94.
  • For what it’s worth, SF also had one of the highest price spikes month over month in the index, up 2.1 percent. That’s second behind only Seattle’s 2.8 percent. Month to month comparisons are necessarily more volatile, so their ups and downs are not always that consequential, although the fact that those two cities in particular top the list is hard to ignore in the face of longer term trends.
  • Possibly the most important part: Investment site Investopedia notes that the Case-Shiller method measures “the prices of single-family, detached residences” by “[comparing] the sale prices of the same properties over time.” This means that the index excludes almost all of the most recent construction in the city—condos and first-time sellers almost exclusively—and that the price jump reflects what’s happening with longtime SF metro area stock. This is why LA’s overall score beats out the Bay Area’s despite having a lower median price in most other measures.

You can read the full results of the quarter report here.

Article source: https://sf.curbed.com/2018/5/30/17409024/case-shiller-index-first-quarter-2018-san-francisco-housing

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The Luxury Bay Area Neighborhood That’s Giving San Francisco a Run for Its Money

In Walden, his 1854 text on living the simple life, Henry David Thoreau advised readers to “go confidently in the direction of your dreams.” For a new generation of San Francisco’s elite, that direction is two hours south, toward a 600-acre community that promises to promote Thor­eau’s ideals—starting at around $5 million per lot.

Walden Monterey, as the development is called, is being billed as a luxury “agrihood”—a housing collective focused on sustainability and communal farming—on the Monterey Peninsula. It aims to provide Silicon Valley’s tech titans with the sort of space (an average of 20 acres per parcel) that homes in traditional retreats like Napa or Carmel don’t have, along with back-to-nature amenities—a sunrise yoga platform, a treehouse, a Zen meditation garden—that comprise the woke mogul’s version of country club ­living.

@larsonshores Moss House designed for #waldenmonterey – The house is based on the structure of Spanish Moss which is prevalent throughout this 20 acre site. Like moss, the house grows in a chainlike fashion down the hillside. Asymmetrical rooflines are a reflection of the irregular topography and allows the participant to experience many points of view.

A post shared by Walden Monterey (@waldenmonterey) on Dec 6, 2017 at 12:35pm PST

“The difference between the buyer at this property and the kind at Pebble Beach,” developer Nick Jekogian says, “is that one wants a home on a golf course and one wants a home in nature with like-minded people.”

The difference between the buyer at this property and the kind at Pebble Beach, is that one wants a home on a golf course and one wants a home in nature with like-minded people.

Similar spots exist already; Miralon, a sort of crunchy Club Med set on an olive farm in Palm Springs, and Kohanaiki, the Big Island of Hawaii’s latest private beach community, are examples of high-end, farm-to-table living. Still, Walden Monterey has the unique advantage of being easily accessible to one of the country’s most important business centers. “There are very few properties where you can be that close to nature after a two-hour drive” from a major city, Jekogian says. “On Friday afternoon you jump in your Tesla and head down to disconnect.”

At least, you do once you’re done building. In the coming months, a select handful of architects will begin work on what will eventually be 22 homes. The houses to be built on the property will have zero net impact on the environment—even the front gates will be solar-powered. Also, builders must use renewable energy sources, and tree removal is forbidden. Over the past year prospective buyers and builders visiting the area to scout locations were invited to stay in yurts on the grounds.

“Hillside Home” by @fougeronarch – The long thin volume of this three bedroom home conforms to the steep hillside contours of the land, adapting its shape and structure in response. on the north and west, clear expanses of glass reveal coastline views. #waldenmonterey #architecture #homes #sustainablelifestyle #monterey

A post shared by Walden Monterey (@waldenmonterey) on Nov 29, 2017 at 3:05pm PST

So far five plots have been sold, and the developer is juggling a wait list of more than 100 hopeful buyers. Walden officials are hesitant to name names, but executives from area rainmakers such as Google are said to make up a healthy portion of those showing interest. And why wouldn’t they? “Much of the early interest comes from people involved in businesses that have been at the forefront of both innovation and social engagement,” Jekogian says.

Bay Area real estate agent Joel Goodrich echoes this idea. “This location is appealing because it’s close [to San Francisco], yet it feels remote,” he says. “These people aren’t looking for a playground. They’re more low-key.” Or they will be as long as there’s WiFi in the meditation garden. ­

This story appears in the June/July 2018 issue of Town Country. Subscribe Today

Article source: https://www.townandcountrymag.com/leisure/real-estate/a20874072/walden-monterey-neighborhood/

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IOTAS Technology Begins to Learn Behaviors

IOTAS Technology Begins to Learn Behaviors

| By Lisa Brown

Slated for completion in early 2019, The Palmer will offer 46 units, all of which will be integrated with IOTAS smart home technology, which can control various home functions from a smart device.

Article source: http://www.globest.com/2018/05/28/iotas-technology-begins-to-learn-behaviors/

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SF in the mountains: People who left the Bay Area for Denver have few regrets


  • 46c98 920x920 SF in the mountains: People who left the Bay Area for Denver have few regrets

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Tamara Pitts, 31

Profession: Customer success at a communication technology company

Year moved to Denver: 2017

Monthly rent: $1,500 for a one-bedroom apartment

Why she moved: ”I had been in San Francisco for six years. I was at that point where I was ready something new. I’d always lived in California and wanted to try something different while I don’t have a family.”

less

Tamara Pitts, 31

Profession: Customer success at a communication technology company

Year moved to Denver: 2017

Monthly rent: $1,500 for a one-bedroom apartment

Why she moved: ”I had been in San Francisco

… more
Photo: Courtesy Tamara Pitts


Michael Mierzejewski, 30

Profession: Owner of small marketing firm

Year moved to Denver: 2018

Monthly rent: $1,600 for a one-bedroom apartment

Why he moved: Mierzejewski moved to Denver to jumpstart his marketing business and invest in real estate.

less

Michael Mierzejewski, 30

Profession: Owner of small marketing firm

Year moved to Denver: 2018

Monthly rent: $1,600 for a one-bedroom apartment

Why he moved: Mierzejewski moved to Denver to jumpstart his

… more
Photo: Courtesy Michael Mierzejewski


Jamey Abeles, 22

Profession: Full-time student at the University of Denver (DU)

Year moved to Denver: 2014

Monthly rent: $680 for duplex shared with five people

Why she moved: “I’ve always loved Colorado, and when I visited DU, I felt so comfortable in Denver, and after exploring the surrounding areas (Pearl Street, Broadway, downtown, and Cherry Creek) as well as seeing how outdoorsy people are, that’s when I made my decision!”

less

Jamey Abeles, 22

Profession: Full-time student at the University of Denver (DU)

Year moved to Denver: 2014

Monthly rent: $680 for duplex shared with five people

Why she moved: “I’ve always loved Colorado,

… more
Photo: Courtesy Jamey Abeles


Erin Joy, 35

Profession: Independent healthcare consultant

Year moved to Denver: 2015

Monthly rent: N/A; Joy left Denver in 2016

Why she moved: A job, change of pace

Erin Joy, 35

Profession: Independent healthcare consultant

Year moved to Denver: 2015

Monthly rent: N/A; Joy left Denver in 2016

Why she moved: A job, change of pace

Photo: Courtesy Erin Joy



Jackson Foote, 24

Profession: Engineer

Year moved to Denver: 2017

Monthly rent: $775 for a room in a Victorian house, with two roommates

Why he moved: ”I moved to Denver after college instead of the Bay Area because it was a much cheaper option [and] I knew people I could roommate with.”

less

Jackson Foote, 24

Profession: Engineer

Year moved to Denver: 2017

Monthly rent: $775 for a room in a Victorian house, with two roommates

Why he moved: ”I moved to Denver after college instead of the Bay

… more
Photo: Courtesy Jackson Foote


Kathryn Mauck, 28

Profession: Project manager in customer support operations

Year moved to Denver: 2017

Monthly rent: $2,000 for for a 3-bedroom home, split with boyfriend

Why she moved: “I wanted to live in a place where there were so many options for things to do [on] any given day that not everyone crowded to the same few places.”

less

Kathryn Mauck, 28

Profession: Project manager in customer support operations

Year moved to Denver: 2017

Monthly rent: $2,000 for for a 3-bedroom home, split with boyfriend

Why she moved: “I wanted to live

… more
Photo: Courtesy Kathryn Mauck


Lauren Begleiter, 26

Profession: Construction manager

Year moved to Denver: 2017

Monthly rent: $1,400 for for a one-bedroom apartment

Why she moved: “I love San Francisco, but I was getting a little stir crazy, ready for something new.”

less

Lauren Begleiter, 26

Profession: Construction manager

Year moved to Denver: 2017

Monthly rent: $1,400 for for a one-bedroom apartment

Why she moved: “I love San Francisco, but I was getting a little stir

… more
Photo: Courtesy Lauren Begleiter


Jennifer Hartman, 25

Profession: Production assistant at a print shop

Year moved to Denver: 2017

Monthly rent: $1,400 for a one-bedroom apartment, split with boyfriend

Why she moved: “We just couldn’t stay afloat in California any more. We wanted to get married and start planning a future and that seemed impossible in California.”

less

Jennifer Hartman, 25

Profession: Production assistant at a print shop

Year moved to Denver: 2017

Monthly rent: $1,400 for a one-bedroom apartment, split with boyfriend

Why she moved: “We just couldn’t

… more
Photo: Courtesy Jennifer Hartman



Philip Ost, 28

Profession: Construction manager

Year moved to Denver: 2017

Monthly rent: $2,000 for for a 3-bedroom home, split with girlfriend

Why he moved: Denver is cheaper, friendlier, slower and offers great outdoor activities.

less

Philip Ost, 28

Profession: Construction manager

Year moved to Denver: 2017

Monthly rent: $2,000 for for a 3-bedroom home, split with girlfriend

Why he moved: Denver is cheaper, friendlier, slower and offers

… more
Photo: Courtesy Philip Ost


Rebecca Stifter, 23

Profession: Law student

Year moved to Denver: 2016

Monthly rent: $1,660 for a duplex, split with partner

Why she moved: “I love being one hour away from the mountains to trail run and camp in the summer and snowboard in the winter.”

less

Rebecca Stifter, 23

Profession: Law student

Year moved to Denver: 2016

Monthly rent: $1,660 for a duplex, split with partner

Why she moved: “I love being one hour away from the mountains to trail run and

… more
Photo: Courtesy Rebecca Stifter


A recent LinkedIn study looked at data on where people move when they leave San Francisco and the Bay Area. Click through to see the most common spots for Bay Area folks to land.

A recent LinkedIn study looked at data on where people move when they leave San Francisco and the Bay Area. Click through to see the most common spots for Bay Area folks to land.















Tamara Pitts, 31

Profession: Customer success at a communication technology company

Year moved to Denver: 2016

Monthly rent: $1,500 for a one-bedroom apartment

Why she moved: “I had been in San Francisco for six years. I was at that point where I was ready something new. I’d always lived in California and wanted to try something different while I don’t have a family.”

less

Tamara Pitts, 31

Profession: Customer success at a communication technology company

Year moved to Denver: 2016

Monthly rent: $1,500 for a one-bedroom apartment

Why she moved: “I had been in San Francisco

… more
Photo: Courtesy Tamara Pitts




Denver is like a slice of San Francisco tucked into the mountains, says Lauren Begleiter.

She moved to the booming Colorado city in October, and hasn’t experienced much culture shock.

“The biggest surprise was that I had to drive everywhere. That affects everyone’s lifestyles,” she said. “You go out for just one drink so you can still drive home.”

The drinking culture is one of the reasons Begleiter left San Francisco. “Everything I did revolved around it,” she said of her nearly five years in the city. At 26, she’s “getting to a point where I can’t do that anymore.”

Begleiter sees herself entering a new moment in her life, in which she’s hiking, skiing and doing more of the “outdoorsy stuff.”

Denver is a city well-suited to such a lifestyle change. Ringed by mountains and blessed with ample sunshine, it’s equipped for sports by foot, bike, ski and snowshoe. Combine accessibility to nature with a burgeoning local tech industry and a manageable cost of living, and it becomes clear why “everyone in San Francisco knows someone who knows someone who moved to Denver,” Begleiter said.

“REI is in the center of the city,” according to 31-year-old Tamara Pitts, who moved to Denver in 2016 after five years in San Francisco.

Pitts’ office has a group chat devoted to after-work hike plans and “almost everyone” she knows owns a four-wheel-drive SUV — the better to reach the mountains with.

“San Francisco got me into the outdoors — sort of,” she said. “But they take it up a whole notch here.”

It’s easy to find a biking buddy or a group for a ski weekend because the city is full of young people, many of whom recently moved there, drawn by the promise of ample jobs and housing and a slower pace of life compared to the coastal metropolises.

It sometimes feels like a “boomtown,” said 35-year-old Erin Joy, like “you’re in on something that’s growing from the ground up.”

Here’s a look at the kind of homes you can buy in San Francisco, Lake Tahoe, San Diego, Los Angeles, Sacramento and Oakland for under $1 million.


Media: Dakota Giglio / SFGATE



Denver is one of the fastest-growing large cities in the nation. According to U.S. Census data, the city’s population grew by more than 100,000 since 2010 — an influx facilitated by a high quality of life (at a relatively affordable cost) and a local government eager to attract startups and new talent.

Denver recently placed No. 10 in a Business.org ranking of the nation’s top tech metros (San Francisco ranked No. 1). Venture capitalists infused more than $1.1 billion into Colorado startups in 2017 alone — a banner year for the blossoming state economy.

If the state’s intentions to position itself as a tech capital weren’t clear enough, a coalition of tech companies and governmental agencies recently launched a $500,000 ad campaign to entice Bay Area techies to move to Colorado.

“Innovation at elevation,” proclaimed a mockup for a BART station advertisement.

There’s certainly a vibrant tech scene, but it’s not quite like the Bay Area, said Mike Mierzejewski, who moved to Denver from Oakland last year.

The majority of companies in Denver feel small, up-and-coming, especially compared to the tech behemoths that reside over San Francisco and Silicon Valley, Mierzejewski said.

“It’s a work-a-lot culture” in San Francisco, he said. That facilitates strong bonds between coworkers — when work is life, how else does one meet friends? — but also competition.

“In San Francisco, I remember the startup world feeling so competitive and inaccessible,” said 23-year-old Rebecca Stifter. The law student moved to Denver in 2016 after two decades in the Bay Area. She plans to work with social enterprise startups after graduation.

You may be thinking of leaving the Bay Area in search of a more affordable to live… but think of all the things you’ll miss!


Media: San Francisco Chronicle



Denver entrepreneurs, Stifter noticed, seem “extremely open to collaboration, sharing their business stories and helping other founders be successful.”

“It is that vibe that comes with it being a smaller city with less resources,” she said. “People want to see other people be successful so they are willing to extend themselves.”

Most Bay Area ex-pats agree it’s easier to live in Denver, where the median home price hovers just above $400,000, and a standard two-bedroom apartment can be rented for about $1,700 a month. It’s not cheap, per se, but you get more bang for your buck compared to San Francisco.






Mierzejewski lives in a spacious one-bedroom apartment in the trendy LoHi neighborhood downtown that “feels like you’re in a loft in SoMa.” He can walk to his office, to bars and restaurants and to the Broncos and Rockies stadiums. The complex has a pool, hot tub, fitness center, fireplaces and a clubhouse.

“In the Bay Area, that’s going to cost you at least $3,000,” he said. “Here, my rent is $1,600 — no roommates.”

Like San Francisco, Denver has experienced its share of growing pains. The refrains sound similar to those heard in the Bay Area. An excerpt from a recent Denver Post article seems clipped from The San Francisco Chronicle:

“The strain of Denver’s boom has been reflected in soaring housing costs, complaints about intensifying traffic, protests against gentrification and backlashes against development. Those pressures are likely to worsen as more people move to Denver, even if in smaller numbers.”

Still, the cost of buying a house in Denver is about half that of San Francisco. When you’re a former Bay Area resident, shellshocked by the high cost of entry into real estate, it’s easy to get swept up by the “hysteria of the growing market” in Denver, said Joy, an independent healthcare consultant.

Joy wanted to get in on the “hot market” so she bought a townhouse for $420,000 and moved in. Shortly thereafter, she quit her job and realized she did not want to live in Denver any longer.

“I’m a bit of a restless soul,” she said.

But there was the issue of the newly acquired house.

That was solved quickly. With so many people moving to Denver, it was easy to find renters. Now, Joy benefits from the growing real estate market from afar. She moved back to San Francisco in 2016 and currently lives in New York City.

“I specifically bought a place I felt would be relatively easy to rent out,” she said. “I banked on that and made an impulse move.”

Michelle Robertson is an SFGATE staff writer. Email her at mrobertson@sfchronicle.com or find her on Twitter at @mrobertsonsf.

Article source: https://www.sfgate.com/expensive-san-francisco/article/Denver-A-boom-town-for-those-leaving-the-Bay-Area-12895378.php

Posted in SF Bay Area News | Tagged | Leave a comment

SF in the mountains: People who left the Bay Area for Denver have few regrets


  • e4426 920x920 SF in the mountains: People who left the Bay Area for Denver have few regrets

Caption

Close

Tamara Pitts, 31

Profession: Customer success at a communication technology company

Year moved to Denver: 2017

Monthly rent: $1,500 for a one-bedroom apartment

Why she moved: ”I had been in San Francisco for six years. I was at that point where I was ready something new. I’d always lived in California and wanted to try something different while I don’t have a family.”

less

Tamara Pitts, 31

Profession: Customer success at a communication technology company

Year moved to Denver: 2017

Monthly rent: $1,500 for a one-bedroom apartment

Why she moved: ”I had been in San Francisco

… more
Photo: Courtesy Tamara Pitts


Michael Mierzejewski, 30

Profession: Owner of small marketing firm

Year moved to Denver: 2018

Monthly rent: $1,600 for a one-bedroom apartment

Why he moved: Mierzejewski moved to Denver to jumpstart his marketing business and invest in real estate.

less

Michael Mierzejewski, 30

Profession: Owner of small marketing firm

Year moved to Denver: 2018

Monthly rent: $1,600 for a one-bedroom apartment

Why he moved: Mierzejewski moved to Denver to jumpstart his

… more
Photo: Courtesy Michael Mierzejewski


Jamey Abeles, 22

Profession: Full-time student at the University of Denver (DU)

Year moved to Denver: 2014

Monthly rent: $680 for duplex shared with five people

Why she moved: “I’ve always loved Colorado, and when I visited DU, I felt so comfortable in Denver, and after exploring the surrounding areas (Pearl Street, Broadway, downtown, and Cherry Creek) as well as seeing how outdoorsy people are, that’s when I made my decision!”

less

Jamey Abeles, 22

Profession: Full-time student at the University of Denver (DU)

Year moved to Denver: 2014

Monthly rent: $680 for duplex shared with five people

Why she moved: “I’ve always loved Colorado,

… more
Photo: Courtesy Jamey Abeles


Erin Joy, 35

Profession: Independent healthcare consultant

Year moved to Denver: 2015

Monthly rent: N/A; Joy left Denver in 2016

Why she moved: A job, change of pace

Erin Joy, 35

Profession: Independent healthcare consultant

Year moved to Denver: 2015

Monthly rent: N/A; Joy left Denver in 2016

Why she moved: A job, change of pace

Photo: Courtesy Erin Joy



Jackson Foote, 24

Profession: Engineer

Year moved to Denver: 2017

Monthly rent: $775 for a room in a Victorian house, with two roommates

Why he moved: ”I moved to Denver after college instead of the Bay Area because it was a much cheaper option [and] I knew people I could roommate with.”

less

Jackson Foote, 24

Profession: Engineer

Year moved to Denver: 2017

Monthly rent: $775 for a room in a Victorian house, with two roommates

Why he moved: ”I moved to Denver after college instead of the Bay

… more
Photo: Courtesy Jackson Foote


Kathryn Mauck, 28

Profession: Project manager in customer support operations

Year moved to Denver: 2017

Monthly rent: $2,000 for for a 3-bedroom home, split with boyfriend

Why she moved: “I wanted to live in a place where there were so many options for things to do [on] any given day that not everyone crowded to the same few places.”

less

Kathryn Mauck, 28

Profession: Project manager in customer support operations

Year moved to Denver: 2017

Monthly rent: $2,000 for for a 3-bedroom home, split with boyfriend

Why she moved: “I wanted to live

… more
Photo: Courtesy Kathryn Mauck


Lauren Begleiter, 26

Profession: Construction manager

Year moved to Denver: 2017

Monthly rent: $1,400 for for a one-bedroom apartment

Why she moved: “I love San Francisco, but I was getting a little stir crazy, ready for something new.”

less

Lauren Begleiter, 26

Profession: Construction manager

Year moved to Denver: 2017

Monthly rent: $1,400 for for a one-bedroom apartment

Why she moved: “I love San Francisco, but I was getting a little stir

… more
Photo: Courtesy Lauren Begleiter


Jennifer Hartman, 25

Profession: Production assistant at a print shop

Year moved to Denver: 2017

Monthly rent: $1,400 for a one-bedroom apartment, split with boyfriend

Why she moved: “We just couldn’t stay afloat in California any more. We wanted to get married and start planning a future and that seemed impossible in California.”

less

Jennifer Hartman, 25

Profession: Production assistant at a print shop

Year moved to Denver: 2017

Monthly rent: $1,400 for a one-bedroom apartment, split with boyfriend

Why she moved: “We just couldn’t

… more
Photo: Courtesy Jennifer Hartman



Philip Ost, 28

Profession: Construction manager

Year moved to Denver: 2017

Monthly rent: $2,000 for for a 3-bedroom home, split with girlfriend

Why he moved: Denver is cheaper, friendlier, slower and offers great outdoor activities.

less

Philip Ost, 28

Profession: Construction manager

Year moved to Denver: 2017

Monthly rent: $2,000 for for a 3-bedroom home, split with girlfriend

Why he moved: Denver is cheaper, friendlier, slower and offers

… more
Photo: Courtesy Philip Ost


Rebecca Stifter, 23

Profession: Law student

Year moved to Denver: 2016

Monthly rent: $1,660 for a duplex, split with partner

Why she moved: “I love being one hour away from the mountains to trail run and camp in the summer and snowboard in the winter.”

less

Rebecca Stifter, 23

Profession: Law student

Year moved to Denver: 2016

Monthly rent: $1,660 for a duplex, split with partner

Why she moved: “I love being one hour away from the mountains to trail run and

… more
Photo: Courtesy Rebecca Stifter


A recent LinkedIn study looked at data on where people move when they leave San Francisco and the Bay Area. Click through to see the most common spots for Bay Area folks to land.

A recent LinkedIn study looked at data on where people move when they leave San Francisco and the Bay Area. Click through to see the most common spots for Bay Area folks to land.















Tamara Pitts, 31

Profession: Customer success at a communication technology company

Year moved to Denver: 2016

Monthly rent: $1,500 for a one-bedroom apartment

Why she moved: “I had been in San Francisco for six years. I was at that point where I was ready something new. I’d always lived in California and wanted to try something different while I don’t have a family.”

less

Tamara Pitts, 31

Profession: Customer success at a communication technology company

Year moved to Denver: 2016

Monthly rent: $1,500 for a one-bedroom apartment

Why she moved: “I had been in San Francisco

… more
Photo: Courtesy Tamara Pitts




Denver is like a slice of San Francisco tucked into the mountains, says Lauren Begleiter.

She moved to the booming Colorado city in October, and hasn’t experienced much culture shock.

“The biggest surprise was that I had to drive everywhere. That affects everyone’s lifestyles,” she said. “You go out for just one drink so you can still drive home.”

The drinking culture is one of the reasons Begleiter left San Francisco. “Everything I did revolved around it,” she said of her nearly five years in the city. At 26, she’s “getting to a point where I can’t do that anymore.”

Begleiter sees herself entering a new moment in her life, in which she’s hiking, skiing and doing more of the “outdoorsy stuff.”

Denver is a city well-suited to such a lifestyle change. Ringed by mountains and blessed with ample sunshine, it’s equipped for sports by foot, bike, ski and snowshoe. Combine accessibility to nature with a burgeoning local tech industry and a manageable cost of living, and it becomes clear why “everyone in San Francisco knows someone who knows someone who moved to Denver,” Begleiter said.

“REI is in the center of the city,” according to 31-year-old Tamara Pitts, who moved to Denver in 2016 after five years in San Francisco.

Pitts’ office has a group chat devoted to after-work hike plans and “almost everyone” she knows owns a four-wheel-drive SUV — the better to reach the mountains with.

“San Francisco got me into the outdoors — sort of,” she said. “But they take it up a whole notch here.”

It’s easy to find a biking buddy or a group for a ski weekend because the city is full of young people, many of whom recently moved there, drawn by the promise of ample jobs and housing and a slower pace of life compared to the coastal metropolises.

It sometimes feels like a “boomtown,” said 35-year-old Erin Joy, like “you’re in on something that’s growing from the ground up.”

Here’s a look at the kind of homes you can buy in San Francisco, Lake Tahoe, San Diego, Los Angeles, Sacramento and Oakland for under $1 million.


Media: Dakota Giglio / SFGATE



Denver is one of the fastest-growing large cities in the nation. According to U.S. Census data, the city’s population grew by more than 100,000 since 2010 — an influx facilitated by a high quality of life (at a relatively affordable cost) and a local government eager to attract startups and new talent.

Denver recently placed No. 10 in a Business.org ranking of the nation’s top tech metros (San Francisco ranked No. 1). Venture capitalists infused more than $1.1 billion into Colorado startups in 2017 alone — a banner year for the blossoming state economy.

If the state’s intentions to position itself as a tech capital weren’t clear enough, a coalition of tech companies and governmental agencies recently launched a $500,000 ad campaign to entice Bay Area techies to move to Colorado.

“Innovation at elevation,” proclaimed a mockup for a BART station advertisement.

There’s certainly a vibrant tech scene, but it’s not quite like the Bay Area, said Mike Mierzejewski, who moved to Denver from Oakland last year.

The majority of companies in Denver feel small, up-and-coming, especially compared to the tech behemoths that reside over San Francisco and Silicon Valley, Mierzejewski said.

“It’s a work-a-lot culture” in San Francisco, he said. That facilitates strong bonds between coworkers — when work is life, how else does one meet friends? — but also competition.

“In San Francisco, I remember the startup world feeling so competitive and inaccessible,” said 23-year-old Rebecca Stifter. The law student moved to Denver in 2016 after two decades in the Bay Area. She plans to work with social enterprise startups after graduation.

You may be thinking of leaving the Bay Area in search of a more affordable to live… but think of all the things you’ll miss!


Media: San Francisco Chronicle



Denver entrepreneurs, Stifter noticed, seem “extremely open to collaboration, sharing their business stories and helping other founders be successful.”

“It is that vibe that comes with it being a smaller city with less resources,” she said. “People want to see other people be successful so they are willing to extend themselves.”

Most Bay Area ex-pats agree it’s easier to live in Denver, where the median home price hovers just above $400,000, and a standard two-bedroom apartment can be rented for about $1,700 a month. It’s not cheap, per se, but you get more bang for your buck compared to San Francisco.






Mierzejewski lives in a spacious one-bedroom apartment in the trendy LoHi neighborhood downtown that “feels like you’re in a loft in SoMa.” He can walk to his office, to bars and restaurants and to the Broncos and Rockies stadiums. The complex has a pool, hot tub, fitness center, fireplaces and a clubhouse.

“In the Bay Area, that’s going to cost you at least $3,000,” he said. “Here, my rent is $1,600 — no roommates.”

Like San Francisco, Denver has experienced its share of growing pains. The refrains sound similar to those heard in the Bay Area. An excerpt from a recent Denver Post article seems clipped from The San Francisco Chronicle:

“The strain of Denver’s boom has been reflected in soaring housing costs, complaints about intensifying traffic, protests against gentrification and backlashes against development. Those pressures are likely to worsen as more people move to Denver, even if in smaller numbers.”

Still, the cost of buying a house in Denver is about half that of San Francisco. When you’re a former Bay Area resident, shellshocked by the high cost of entry into real estate, it’s easy to get swept up by the “hysteria of the growing market” in Denver, said Joy, an independent healthcare consultant.

Joy wanted to get in on the “hot market” so she bought a townhouse for $420,000 and moved in. Shortly thereafter, she quit her job and realized she did not want to live in Denver any longer.

“I’m a bit of a restless soul,” she said.

But there was the issue of the newly acquired house.

That was solved quickly. With so many people moving to Denver, it was easy to find renters. Now, Joy benefits from the growing real estate market from afar. She moved back to San Francisco in 2016 and currently lives in New York City.

“I specifically bought a place I felt would be relatively easy to rent out,” she said. “I banked on that and made an impulse move.”

Michelle Robertson is an SFGATE staff writer. Email her at mrobertson@sfchronicle.com or find her on Twitter at @mrobertsonsf.

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