Big Spenders Still Spend Big January 31st, 2011

[via FoundSF]

The Wall Street Journal today reports that in the Bay Area, sales of homes priced over $2,000,000 were up 20% in 2010 over 2009. In fact, they mention that sales might be even higher because some high priced home are sold in private sales, where the data does not become publicly available for much longer. 
One such house is 2600 Pacific, shown in the video from WSJ,designed by William Wurster and built in 1936 for Mortimer Fleishhacker Jr. Our pal Mort was a timberman who’s a past President of the San Francisco Planning Commission, so you can blame him both for creating massive house envy and many, many planning commission blog posts.

2600 Pacific sold for a whopping $15,500,000 last month, for a mind-boggling $2,096 per square foot, almost double the neighborhood average. And this is Pac Heights we’re talking about. Sheesh.
As far as big spenders come in the present day, the WSJ goes on to say that, “The strength of high-end Bay Area home sales last yearunderlines the region’s recovery …, many technology companies have come roaring back, start-ups have started popping up all over Silicon Valley and San Francisco, and hiring wars have broken out.” If you’re in the middle of a hiring war, kudos to you, and let us know where to meet you for champagne wishes and caviar dreams. We can sure think of a few fancy addresses for you to blow your first paycheck on.
· Big Spenders Buoy Housing [WSJ]
· Mortimer Fleishhacker Jr. Lived Here [FoundSF]
· 2600 Pacific Ave [Redfin]