Pacific Union Grows!--Vacancy Rates Tight!
Well, the latest is in two subject areas this week. First, as you, our valued clients bring us your wants and needs, both for personal residence and for either investment or vacation properties, we have continued to grow! Originally just a Bay Area firm, we now have a pair of offices in the Lake Tahoe area to help all of you in acquiring a great vacation home at or near the lake. Just think: skiing some of the best trails in the world in the winter or playing tennis, hiking or fishing some equally great locations in the summer. It's all at Tahoe and we can help you get there! This links in with our ongoing position as the top real estate firm in the Bay Area, including a half dozen right here in Marin.
As for vacancy rates, this is a very important factor in driving prices. If you are thinking of purchasing an investment property, or expanding your real estate portfolio, this is an excellent time to do so. Not only can it help you with tax savings, it can also help push your personal worth upward. One of thew things doing this is the tightness in available properties for rent.
The Bay Area has one of the nation’s tightest housing markets, with vacancy rates of just 1.1 percent for single-family homes and 3.5 percent for rental units — offering a strong impetus for homebuilders to step up construction in the area and give a further boost to the local economy.
A recent report from the U.S. Census Bureau showed vacancy rates in the San Francisco-Oakland-Fremont metropolitan area far below the national averages of 1.9 percent for single-family homes and 8.7 percent for rental housing in the fourth quarter of 2012. Among rental housing, the vacancy rate was down from 6.1 percent in the fourth quarter of 2011. This all bodes well for investors in rental property. Have questions? Give us a call. We'd be happy to answer them! Peter: (415) 279-6466; Jane: (415) 531-4091.