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Honey, no. $100mm+ was in Palm Beach, nearly a decade ago.
In any case, that once in a blue moon ultra luxury home in Silicon Valley home sold to... Yuri Milner. One of the top hitting SILCON VALLEY executives.
Which proves once more that the Bay Area has absolutely 0 global appeal to people who have no ties to the tech industry. Find me one example of a random billionaire who has purchase a home in San Francisco just because they think its a great place. Good luck with that. The most expensive home to sell in the Bay Area last year was only $15mm. And there were only 3 homes in the entire Bay Area that sold for over $10mm. That's snockingly low. I wouldn't be surprised if even Dallas saw more than that. Hahahahah
Bay Area does not have a consistent volume of home sales as the places that matter:
You can try searching for more once in a blue moon flukes but facts still remain that the Bay Area has a practically nonexistent ultra-luxury market. That's a fact.
Yea and good luck getting rid of that. He has got to be the only person in the world who would purchase a home in the Bay Area for $50MM, let alone $100MM. The most expensive home sold in the Bay Area before that was only $28mm., LOL.
If that home were in New York or London or Palm Beach or Beverly Hills, billionaires would be lining around the block for that.
There are homes that far exceed $100mm in those areas, and they have consistently increased in value. Because they have resale value, unlike an ultra luxury Bay Area which has 0 comps, since there isn't a market for that there.
Which proves once more that the Bay Area has absolutely 0 global appeal to people who have no ties to the tech industry. Find me one example of a random billionaire who has purchase a home in San Francisco just because they think its a great place. Good luck with that.
Notice that you started this thread by describing the "super rich", the UNHWI. And now because you are losing the argument, you have changed your qualification to billionaires. A UNHWI is typically considered to be north of $100M, not billionaires. You sneakily tried to narrow the scope, nice try though but no dice.
Billionaires are too limiting. So I'm going to hold you to your original premise of the super rich. You want to know some random rich guy who bought a place in SF as a second home just because he loves the city? Try these people:
You can try searching for more once in a blue moon flukes but facts still remain that the Bay Area has a practically nonexistent ultra-luxury market. That's a fact.
LOL. I love people who pull crap out their rear end and say, "It's a fact!"
.
Honey, no. $100mm+ was in Palm Beach, nearly a decade ago.
In any case, that once in a blue moon ultra luxury home in Silicon Valley home sold to... Yuri Milner. One of the top hitting SILCON VALLEY executives.
Which proves once more that the Bay Area has absolutely 0 global appeal to people who have no ties to the tech industry. Find me one example of a random billionaire who has purchase a home in San Francisco just because they think its a great place. Good luck with that. The most expensive home to sell in the Bay Area last year was only $15mm. And there were only 3 homes in the entire Bay Area that sold for over $10mm. That's snockingly low. I wouldn't be surprised if even Dallas saw more than that. Hahahahah
Bay Area does not have a consistent volume of home sales as the places that matter:
You can try searching for more once in a blue moon flukes but facts still remain that the Bay Area has a practically nonexistent ultra-luxury market. That's a fact.
No need to be jealous. The Wall Street Journal says the first $100 Million single family home sale in the US was in Los Altos Hills.
Hmmm...I think some people need to stf.u Housing Units Valued at $1,000,000+, 2013
San Francisco CSA 255,526...15.5% of all homes.
Miami CSA 39,091...2.7% of all homes.
all this bragging but the only foreign route to Miami shown is to a politically unstable, poor, developing nation whose unsavory elite go to spend their blood money...
I'll went and manually searched for each and every "ultra luxury" home sale in the Bay Area. $20mm is considered "ultra luxury" there, of course. Not in the other cities.
The San Francisco Bay Area:
In 2014, there were only 4 homes that sold above $20mm:
336 Iris Way, Palo Alto $22,000,,000 sold on 12/12/14,
131 Britton Ave Atherton $20,00,000 sold on 11/20/2014
15 Hidden Valley Ln Woodside $25,00,000 on 09/02/2014
201 Manzanita Way Woodside $25,000,000 sold on 03/26/2014
In 2013, there were no homes in the Bay Area sold for above $20mm.
In2012, there were only four homes that sold for above 20mm.
267 Camilo Al Lago Atherton CA, $27,000,000 sold on 11/12/2012
70 Barry Lane Atherton, CA $21,750,000 Sold on 08/08/2012
267 Camilo Al Lago Atherton CA, $27,000,000 sold on 11/12/2012
There had never been a single home sale for above $30mm, until trigger-happy techie Yuri Milner swept in and overpaid on a house that isn't even worth 50% of what it's worth now.
LOL. In comparison, New York has sold 5x as many 20mm home sales in the three freaking months of calendar year 2015, than the Bay Area has seen in three years. Miami Beach has sold that many $20mm homes in 6 months. London, clearly is par with New York, as is the other luxury locales I taught you about a page back. The real real estate market would probably describe their situation as a great depression if they only sold 3 20MM+ homes on average per year.
Ugh. Dire. And the Bay Area folks in here are stil trying to pretend the Bay Area is any sort of luxury destination.
Honey, no. $100mm+ was in Palm Beach, nearly a decade ago.
In any case, that once in a blue moon ultra luxury home in Silicon Valley home sold to... Yuri Milner. One of the top hitting SILCON VALLEY executives.
Which proves once more that the Bay Area has absolutely 0 global appeal to people who have no ties to the tech industry. Find me one example of a random billionaire who has purchase a home in San Francisco just because they think its a great place. Good luck with that. The most expensive home to sell in the Bay Area last year was only $15mm. And there were only 3 homes in the entire Bay Area that sold for over $10mm. That's snockingly low. I wouldn't be surprised if even Dallas saw more than that. Hahahahah
Bay Area does not have a consistent volume of home sales as the places that matter:
You can try searching for more once in a blue moon flukes but facts still remain that the Bay Area has a practically nonexistent ultra-luxury market. That's a fact.
Can you stop posting this garbage map? The fact that planes are going to Austin/Houston and not Paris means the map doesn't tell much at all and Paris has global appeal.
hmm...guess your lack of expertise on a market you dont much about is shining thru.
.... in 2007! The sales indicators don't go back to a decade lol.
Now that we've had to dig way deep into the archives to find another nice sale, doesn't that that confirm what I said? That the Bay Area's ultra luxury market is paltry? And large sales are exceedingly rare, and happen once every decade or so? Want to know why? It's just not fabulous enough to have a steady stream of luxury home sales.
It doesn't appeal to the people on this map:
(Hence San Francisco ranking #19 on most important cities to the global rich while Miami ranked #6 )
Last edited by J R; 03-31-2015 at 02:12 PM..
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