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The Chronicle analyzed home value data from real estate listings company Zillow to see what ZIP codes across California had the fastest average growth in typical home values from January 2020 to January 2022. We took only ZIP codes with populations of 500 or more into account, based on U.S. census data.

The results show the ongoing trend during the pandemic of people fleeing city centers to generally more affordable areas with perks including more square footage, bigger lots and outdoor attractions. We also found that areas traditionally known as vacation destinations became bigger draws during the pandemic for buyers who want to work remotely in a scenic setting, or are looking for a second home.

The High Desert

Southern California’s High Desert was overwhelmingly represented in the top 10. Landers, a small, unique community that features the Integratron dome built by ufologist George Van Tassel, took the top spot: Home values there soared 84% in the past two years. The typical home value in January 2020 was $160,133, and jumped to $294,850 in January 2022.

In second place was nearby Joshua Tree, known for its eponymous national park, which saw home values grow 69% during the pandemic from $244,942 to $414,172. In third place was Twentynine Palms, just east of Joshua Tree, where home values rose 63% from $152,148 to $248,453.

Lynee LaVoie, a realtor with Cherie Miller and Associates in Yucca Valley, said interest in buying High Desert properties started before the pandemic, but “got crazier” after it hit. She said 90% of her business is people looking for a vacation home.

“A lot of people working from home…who were renting in the L.A. area and Orange County can’t afford to buy a primary residence for themselves,” she said, noting that the pandemic drove people to look for more space and get away from other people. “We are really an ideal location for a lot of city dwellers.”

San Joaquin County

In Northern California, San Joaquin County showed up several times near the top of the highest home value growth list. The 95391 ZIP code includes a planned community called Mountain House just outside Tracy, which saw 58% home value growth during the pandemic. Average home values went from $656,011 in 2020 to $1,036,579 in 2022.

Like many other areas that became popular relocation spots during the pandemic, Mountain House was a draw for Bay Area residents who could work from home and wanted more bang for their buck. Andrew Jacobsen, a real estate broker in Mountain House, said interest was driven by its proximity to the Bay Area and good schools.

“There are bigger houses, newer houses for considerably less,” he said. “People are moving here mostly from Fremont, San Jose and Cupertino, and selling their houses in that area.”

According to Jacobsen, Mountain House is a “big family community” where a majority of residents are employed in the tech sector and work remotely. He said the oldest house was built in 2003, and homes range from 1,400 to 4,400 square feet. While Tracy is very close, Jacobsen said, upcoming development in the area includes a Safeway that should make the community “self-sufficient” very soon.

The Bay Area

In the Bay Area, Sea Ranch in coastal Sonoma County had a 58% increase in typical home values, and home values on Bethel Island in Contra Costa County jumped 52% during the pandemic. They were included in a previous data analysis from The Chronicle showing increasing home values during 2021.

Both communities have access to water: Sea Ranch offers unique architecture and dozens of trails, while Bethel Island is a tiny waterfront community just east of Antioch. The real estate boom there has factored into an eviction battle at Anchor Marina, a boat launch and campground not legally permitted for housing

Only those two Bay Area ZIP codes are in the top 100. Kreamer thinks that’s because prices are already so high here.

“The Bay Area seemed to be hitting a price ceiling in 2019 before the pandemic hit, and it heated back up,” Kreamer said. “I hesitate to say that there isn’t much room to go higher because we’re breaking home price records every month these days. But it is the most expensive market in the country, and also the most unaffordable in terms of housing costs compared with income.”

South Lake Tahoe

South Lake Tahoe has been a hot market for a while now, especially during the pandemic. Brooke Hernandez, a Compass realtor in the South Lake Tahoe area, said things started to pick up in June 2020 and have been pretty nonstop ever since.

“For one property to have 29 offers on it is a common thing in the Bay Area, but for our area it’s not,” she said. “That is driving prices upward. Lack of inventory is another thing.”

She said that as of Thursday morning, 30 homes were available in South Lake Tahoe. In a typical pre-pandemic year at this time, there would be about 300 homes on the market.

The devastating Caldor Fire, which burned more than 200,000 acres last fall, put a freeze on home buying for a couple months and led some potential home buyers to cancel contracts. But Hernandez said it picked right back up again when things settled.

A lot of buyers are second homeowners from the Bay Area, El Dorado Hills and Sacramento who can travel to the area and work remotely, Hernandez said. But like the High Desert, many locals are getting pushed out of the market as home prices have soared.

Kreamer said vacation spots in rural areas have far fewer transactions than larger areas, so a few sales can “take a big swing one way or another,” making it hard generalize about them.

“Vacation areas are definitely hotter during the pandemic, and it’s probably a blend of remote workers moving there full time and people buying second homes,” Kreamer said. “Vacation areas – whether it’s in the mountains or along the coast – have always been hot, and are hotter than ever.”

Kellie Hwang is a San Francisco Chronicle staff writer. Email: kellie.hwang@sfchronicle.com Twitter: @KellieHwang

Hanks grew up in Oakland and has fond memories of his time at Skyline High. When he first found fame in 1986, he returned to the school to give a graduation speech, telling the students, “I live in the best city in the best part of the world. I went to the best high school in the best city in the world.” The actor also threw some shade at the East Bay’s private and higher profile schools in the speech, adding, “I’m not talking about Piedmont High or Oakland Tech, and I’m not talking about Bishop O’Dowd. I’m talking about Skyline High!”

The actor recently shared his high school graduation photo on Twitter, writing, “Big Day for Skyline High School in Oakland, CA! Glad to be a part of it! Hanx, ‘74.”

NBC Sports reporter Kerith Burke asked the actor on Twitter Monday if he did indeed learn how to act in the little Montclair Village home; Hanks had not replied at time of publication. 

1931 Magellan Drive is currently on the market for $979,000. The Red Oak Realty listing is available here.

Article source: https://www.sfgate.com/realestate/article/Bay-Area-home-frequented-by-Tom-Hanks-for-sale-16965029.php

Unfortunately, the asking price — though nostalgic in its own way since it represents one of the least expensive single-family homes in the area on the market right now — is probably a vestige of yesteryear as well.

Comparable property analysis puts the selling price of this home at more than $1 million dollars, though it’s hard to say if those comps take into account the fixer aspect of 3281 Sterling Ave. The listing invites buyers to “bring your hammer.”

But fixers aren’t the hard sells they once were — not in this market. Tim Allen, who is co-listing the home with Ed Massey, told SFGATE that “this home will most likely sell to an investor and is a property that someone like Chip and Joanna Gaines from ‘Fixer Upper’ would love. If that’s the case, we expect the home to sell for more than the asking price since an investor will see a lot of potential profit once the home is renovated.”

In the past year, Alameda County’s median sale price for single-family homes has jumped to $1.513 million, up almost 19% year-over-year, according to Property Shark. 

Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert.

Article source: https://www.sfgate.com/realestate/article/time-has-stopped-in-Alameda-home-16938312.php

SAN FRANCISCO, Calif. (KRON) – A new report appears to show that homebuyers are still looking to leave the Bay Area in search of more affordable places to live.  

According to real estate brokerage company Redfin, homebuyers continue to leave expensive places like San Francisco, New York, and Washington DC and are looking to buy homes in more affordable Metro areas with better weather.  

After analyzing the millions of search results on the Redfin website, the company determined that Las Vegas, Phoenix, Miami, and Sacramento are among the most popular destinations.

Taylor Marr is the Deputy Chief Economist at Redfin. He says that the shift from expensive coastal Metros to more affordable areas has been going on for a while, but the pandemic really heated up the real estate market and it has stayed hot because it takes time for homebuyers to figure things out.  

“A lot of families that were homeschooling or remote learning or didn’t know what their long-term plans were had to figure things out with work. Maybe people are still switching jobs over the last year or moving into a job that is more remote-friendly that allows them to move to a cheaper area and keep the high pay and we see a lot of that happening,” Marr said.

Looking forward, Marr is reluctant to make any predictions but believes the trend will continue because working from home has become more widely accepted.

“There’s a permanent critical juncture. A shift of more flexible work of more dispersed. I think there’s technology adoption that happened during the pandemic move to cheaper areas will sustain,” Marr said.

Article source: https://www.kron4.com/news/real-estate/new-report-shows-homeowners-continue-to-leave-the-bay-area/

The company hasn’t determined a date for a mandatory return in any of its U.S. locations, a spokesperson said. The majority of employees will eventually be required to be in the office at least a few days a week, but some workers can apply to be fully remote.

The return of office amenities could help the tech company attract new hires in a competitive labor market and lure more workers back to the office. The company’s massive real estate holdings could also set a trend for smaller companies and have a major impact on local tax revenue. Google is the biggest office tenant in the Bay Area, occupying over 30 million square feet, according to real estate brokerage data.

CNBC first reported the policy changes.

“Throughout the pandemic, we’ve prioritized the health and safety of our workforce while providing greater choice and flexibility. We’re giving employees who welcome the chance to come into the office the option to do that wherever we safely can, while allowing those who aren’t ready to keep working from home. Based on current conditions in the Bay Area, we’re pleased that our employees who choose to come in now have the ability to access more on-site spaces and services to work and connect with colleagues,” a Google spokesperson said.

Separately, the company no longer requires vaccination as a condition of U.S. employment, after a judge blocked President Biden’s order requiring government contractors to mandate vaccines, which would have included Google. The policy change only affects workers who are fully remote, since vaccines are still required for all office workers.