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Old 03-25-2015, 03:23 PM
 
Location: Zurich, Switzerland/ Piedmont, CA
31,580 posts, read 53,131,516 times
Reputation: 14502

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Quote:
Originally Posted by J R View Post
Keep at subject. We aren't talking about middle-class homes, we're talking about UHNWI level homes. San Francisco only has 9 homes priced above $10mm lol. Such a paltry number, but not really surprising because San Francisco isn't a place that appeals to fabulous people.

SF has a lot of local demand from it's robust middle-class but is there any interest from the 198,000 UHWNI worldwide? Between this and the Knight Frank survey, it's looking like a negative.
Haha $1,000,000 is 3 times greater than the median home price in Miami and only like 50 are in the $10M+ price range, which means that the vast majority of the tens of thousands of third world oligarchs SDP Miami is bragging that are buying in Miami are buying into the $1M and under market. No?

So essentially, your bragging about a few homes and Im answering with an entire Metro Area.

Central Bay Area Counties( Pop 6.4 Million)
by Median Home Price, February 2015

San Mateo County $1,200,000
San Francisco City $1,154,760
Marin County $1,023,440
Santa Clara County $915,130
Contra Costa County $738,090
Alameda County $697,160

Wow.
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Old 03-25-2015, 03:26 PM
J R J R started this thread
 
Location: Sunny Isles Beach, FL
49 posts, read 36,469 times
Reputation: 33
Quote:
Originally Posted by 18Montclair View Post
Haha $1,000,000 is 3 times greater than the median home price in Miami and only like 50 are in the $10M+ price range, which means that the vast majority of the tens of thousands of third world oligarchs SDP Miami is bragging that are buying in Miami are buying into the $1M and under market. No?

So essentially, your bragging about a few homes and Im answering with an entire Metro Area.

Central Bay Area Counties( Pop 6.4 Million)
by Median Home Price, February 2015

San Mateo County $1,200,000
San Francisco City $1,154,760
Marin County $1,023,440
Santa Clara County $915,130
Contra Costa County $738,090
Alameda County $697,160

Wow.

Trying so hard to change the subject, dear.

Go on and brag more about those middle-class home prices, but what does this have to do with ultra luxury real estate or the world's super rich?

Homes Priced $10MM+

Miami: 239
San Francisco: 9

Doesn't it upset you that the 190,000 UHWNI worldwide shun San Francisco for other cities? It would make me feel sad. It would hurt my ego that I choose to live in the place shunned by the fabulous elite of the world ugh. Why don't they care for San Francisco?

Hahahahhaha
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Old 03-25-2015, 03:37 PM
 
1,353 posts, read 1,136,954 times
Reputation: 790
I just want to point out another huge difference between a Miami and a San Francisco. In Miami, high end home sales are highly publicized and as has already been pointed out, the rich there WANT to be seen and talked about. Virtually every listing is on MLS. There are entire tv shows about it.

This is pretty much opposite of the case in the entire Bay Area where most buyers are concealed through LLCs, nobody ever wants to be talked about based on where they live (people want to be known for what they are doing, and if that happens to make them a lot of money, that's an afterthought). And many listings are never on MLS or are "off market" transactions.

For instance, a 5,400 sf condo in a classic 1924 doorman building in Pacific Heights just sold, quietly, for $30M (that's $5500psf by the way). It was never listed. Nobody knows who the buyer is and frankly, while the sale was publicized after the fact on some real estate blogs, nobody was dying to know who it was. It was simply "noted" as under contract for that price by a "source close to the deal".

This is standard procedure for Bay Area real estate. Keep in mind the Bay Area is one of the few places in the world where houses have been listed or sold for north of $100M (as is South FL). Also, Napa/Sonoma and Carmel are some of the most notable and desirable areas in the world for the global elite.

This thread has really gone down hill. We all "get it" about Miami. We all knew that before this thread. You don't "get it" about other places. Which is why you're down in Miami, content to be completely oblivious to the rest of the real world (like so many others down there, I might add).
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Old 03-25-2015, 03:43 PM
 
Location: Miami Beach, FL/Tokyo, Japan
1,699 posts, read 1,481,590 times
Reputation: 699
Quote:
Originally Posted by anonelitist View Post
We all "get it" about Miami. We all knew that before this thread.
Actually I don't think people like Montclair and probably even you did get how much the difference was. Btw right now the highest listing for a home on the market in Miami is 60 million, Los Angeles 40 million, San Francisco at 40 million, San Jose at 5 million.

You yourself said the UHNWI would prefer to invest in the Bay over Miami, what happened? Whose buying these homes
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Old 03-25-2015, 04:04 PM
J R J R started this thread
 
Location: Sunny Isles Beach, FL
49 posts, read 36,469 times
Reputation: 33
Quote:
Originally Posted by anonelitist View Post
I just want to point out another huge difference between a Miami and a San Francisco. In Miami, high end home sales are highly publicized and as has already been pointed out, the rich there WANT to be seen and talked about. Virtually every listing is on MLS. There are entire tv shows about it.

This is pretty much opposite of the case in the entire Bay Area where most buyers are concealed through LLCs, nobody ever wants to be talked about based on where they live (people want to be known for what they are doing, and if that happens to make them a lot of money, that's an afterthought). And many listings are never on MLS or are "off market" transactions.

For instance, a 5,400 sf condo in a classic 1924 doorman building in Pacific Heights just sold, quietly, for $30M (that's $5500psf by the way). It was never listed. Nobody knows who the buyer is and frankly, while the sale was publicized after the fact on some real estate blogs, nobody was dying to know who it was. It was simply "noted" as under contract for that price by a "source close to the deal".

This is standard procedure for Bay Area real estate. Keep in mind the Bay Area is one of the few places in the world where houses have been listed or sold for north of $100M (as is South FL). Also, Napa/Sonoma and Carmel are some of the most notable and desirable areas in the world for the global elite.

This thread has really gone down hill. We all "get it" about Miami. We all knew that before this thread. You don't "get it" about other places. Which is why you're down in Miami, content to be completely oblivious to the rest of the real world (like so many others down there, I might add).
Nice try but no.

All sales, hidden by LLCs or not, are public info and are filed by each county. Names are hidden but the sales are not. San Francisco only has 9 $10MM + homes because most homes sold of that magnitude these days are also driven by super-rich outsiders and these people simply don't care about San Francisco. Too dull and not fabulous and not enough amentites to please those looking for the best.

You love your city but you know damn well if you were a UHWNI from somewhere in Europe or elsewhere, San Francisco would not be on your radar either. You would do as the rest - NYC, Miami Beach, London, Paris, South of France, Aspen, Beverly Hills. San Francisco ranked 19th on that Knight Survey survey for a reason. Tremendous interest from Bay Area residents but no global appeal.
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Old 03-25-2015, 04:05 PM
 
Location: Glendale, CA
1,296 posts, read 2,019,643 times
Reputation: 1368
Quote:
Originally Posted by SDPMiami View Post
Actually I don't think people like Montclair and probably even you did get how much the difference was. Btw right now the highest listing for a home on the market in Miami is 60 million, Los Angeles 40 million, San Francisco at 40 million, San Jose at 5 million.

You yourself said the UHNWI would prefer to invest in the Bay over Miami, what happened? Whose buying these homes
Mmmm... it's a little higher than $40 million:

https://www.redfin.com/CA/Beverly-Hi.../home/23100948

Try $195 million.

BTW interesting data in the OP, but where did it come from? I didn't see a source.
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Old 03-25-2015, 04:21 PM
J R J R started this thread
 
Location: Sunny Isles Beach, FL
49 posts, read 36,469 times
Reputation: 33
Quote:
Originally Posted by DynamoLA View Post
Mmmm... it's a little higher than $40 million:

https://www.redfin.com/CA/Beverly-Hi.../home/23100948

Try $195 million.

BTW interesting data in the OP, but where did it come from? I didn't see a source.
Looked at the MLS for every city, then Trulia and Zillow. Took me a while.

Working on compiling recorded sales and so far it's holding very consistent with these listing numbers.
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Old 03-25-2015, 04:21 PM
 
Location: Zurich, Switzerland/ Piedmont, CA
31,580 posts, read 53,131,516 times
Reputation: 14502
Interesting. UHNWIs flock to Miami because most of the houses are dirt cheap. Remember folks, middle class areas in the US look like high end rich areas compared to the developing countries most of Miami's foreign buyers come from.

This all makes sense, since only 200 or so homes are $10M+, that's only 200 UHNWIs-that's a pretty small number versus the bravado we read from SDP Miami. lol

Anyhow, no wonder all the third world despots choose Miami. Its a bargain.

Central Bay Area Counties( Pop 6.4 Million)
by Median Home Price, February 2015

San Mateo County $1,200,000
San Francisco City $1,154,760
Marin County $1,023,440
Santa Clara County $915,130
Contra Costa County $738,090
Alameda County $697,160

South Florida Metro Area $265,160

Florida Realtors: South Florida home and condo sales rise in February 2015 - South Florida Business Journal
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Old 03-25-2015, 04:25 PM
J R J R started this thread
 
Location: Sunny Isles Beach, FL
49 posts, read 36,469 times
Reputation: 33
Quote:
Originally Posted by 18Montclair View Post
Interesting. UHNWIs flock to Miami because most of the houses are dirt cheap. Remember folks, middle class areas in the US look like high end rich areas compared to the developing countries most of Miami's foreign buyers come from.

This all makes sense, since only 200 or so homes are $10M+, that's only 200 UHNWIs-that's a pretty small number versus the bravado we read from SDP Miami. lol

Anyhow, no wonder all the third world despots choose Miami. Its a bargain.

Central Bay Area Counties( Pop 6.4 Million)
by Median Home Price, February 2015

San Mateo County $1,200,000
San Francisco City $1,154,760
Marin County $1,023,440
Santa Clara County $915,130
Contra Costa County $738,090
Alameda County $697,160

South Florida Metro Area $265,160

Florida Realtors: South Florida home and condo sales rise in February 2015 - South Florida Business Journal

Honey, the cheapest of the top 20 sales in Miami Beach last year alone is more than the most expensive home to sell in San Francisco in the last 12 months. The average price of the luxury segment is paltry compared to the places in the listed locales. It actually looks very middle class. Why?

You still haven't given U.S. your analysis on why there are hardly any luxury home sales in SF. They come to Miami because San Francisco isn't good enough for them. Simple as that
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Old 03-25-2015, 05:03 PM
 
Location: Zurich, Switzerland/ Piedmont, CA
31,580 posts, read 53,131,516 times
Reputation: 14502
Quote:
Originally Posted by J R View Post
Honey, the cheapest of the top 20 sales in Miami Beach last year alone is more than the most expensive home to sell in San Francisco in the last 12 months.
Hahahaha yes cookie, third world cocaine dealers and dictatorial oil barons are gauche and pay top dollar for a gauche house in a gauche city, and so bienvenido a Miami, break out the leopard print.

On the other hand, what is more impressive, 200 houses that cost $10M+ OR having 5,460 residents worth $30M+?

Last edited by 18Montclair; 03-25-2015 at 05:16 PM..
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