Insights from a Millennial into the SF condo market

By
Real Estate Agent with Compass CA DRE# 01215160

Kendall Realty AssociatesTeaming up in business with another generation broadens ones perspective. When that team member is my granddaughter, just imagine how much fun we have and the excitement that results from our teamwork!

Today's post about what Millennial buyers are looking for  in San Francisco condos comes from Rachael. Read on for a fresh view point.

I've always found it interesting in what "does it" for buyers. Everyone has specific wants and needs, and every home has its pros and cons. With the market where it is, and current interest rates, I though I'd take a look.

In one of the "case studies" I asked my friend, a male in his mid-late 30s, single, working in financing on Market Street what his top 3 non-negotiables were (aside from his price range, which is obviously a large factor." He responded with:

  • washer & dryer in unit
  • parking
  • a view

It makes sense, but I found it interesting that he felt that he needed to have a view. Turns out, with my finds in the city at least, it's not all that uncommon to find views high on the criteria list for buyers. When I asked another group of my friends what their top wants and needs would be, they responded with:

  • security
  • parking
  • washer and dryer
  • garbage disposal and dishwasher
  • hardwood floors
  • newer furnishings
  • sound control
  • good light
  • and of course -- views!

They all agreed they'd be comfortable with an HOA fee between $300-$600/month, including utilities.

If you are a millennial buyer, or have talked with some, what are your top 3 non-negotiables in potential properties? I'm interested to know!

 

Rachael Kendall

1699 Van Ness Avenue

San Francisco, CA 94109

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Brian England 12/19/2019 10:00 AM
Topic:
Home Buying
Location:
California San Francisco County San Francisco
Groups:
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Agents who want REFERRALS!
Local Expert
San Francisco Bay Area Real Estate
Condo Benefits
Tags:
condos
san francisco
wish list
millennial buyers
millennial view point

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Rainmaker
2,232,051
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Lottie Kendall - What a wonderful bond you have formed with your beautiful granddaughter. That photograph is very special and the two of you look so pretty together. Rachel represents so many Millennials with their hopes and dreams. She will do great in business and having you for a role model will be fun and exciting. The two of you make a dynamic duo and I wish you both happiness and success. Plus, may she get to enjoy many great views and gain new insights from all the people she meets. Her life has just begun and isn't that wonderful!!!

Dec 20, 2019 05:31 PM #24
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

How nice is this? Love to see teaming up with family in business situations. I'm guessing you'll be learning a lot from each other, but she's lucky to have your experience and expertise. 

Dec 21, 2019 11:45 AM #25
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Lottie- first of all, what a beautiful granddaughter you have! Next...I love the idea of you two working together. You each are learning from each other. And I hope that if she hasn't already, Rachel will be blogging here!  

Dec 21, 2019 04:33 PM #26
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

                                            Thank you, Lottie. 

Dec 21, 2019 06:35 PM #27
Rainmaker
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Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hi Kathy Streib - Rachael is  a great team member and has taken on a number of tasks that free my time for rain making and other activities. Thanks for the feature in your weekly round-up.

 

Dec 22, 2019 07:57 AM #28
Rainmaker
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Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hello Debb Janes EcoBroker and Bernie Stea JD - family is such an integral part of life, working with a family member can be super. Rachael and I like our team work.

Dec 22, 2019 07:58 AM #29
Rainmaker
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Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Patricia Feager, MBA, CRS, GRI,MRP - your kindness never fails. I like the  thought of Rachael and I being a "dynamic duo." I can feel the energy rising!

 

Dec 22, 2019 07:59 AM #30
Rainmaker
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Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Lottie Kendall - Great post, Lottie!  Happy Birthday!  I am sure you are very busy and you should be.  Make those memories!!

It is very interesting to get a different insight into the millennial way of thinking.  It is very rare indeed that I would be dealing with Millenials so I appreciate this post. 

Dec 22, 2019 11:30 AM #31
Rainmaker
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Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hi Sheri - thanks for the birthday wishes. Boy, did Patricia Feager, MBA, CRS, GRI,MRP surprise me!

San Francisco is home to many millennials, so Rachael's in-the-trenches observations come from first-hand experience.

Dec 22, 2019 12:18 PM #32
Rainmaker
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Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Lottie Kendall - 2020 is going to be the Year of the Kendall's! With Rachael on board, it's going to be a real Happy New Year! I feel it in my bones. She's going to be the best asset to your business. Nobody spreads the word quicker, faster, and better than Millenials and their use of more advanced technology. 

Your 2019 Birthday is just the beginning of many, many more celebrations of joy!!! Happy Birthday to YOU!!!

Dec 22, 2019 12:24 PM #33
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Seems there is another real estate guru in the family.  Interesting about the "need" for a view.  

And lest I forget...HAPPY BIRTHDAY!

Dec 22, 2019 01:37 PM #34
Rainmaker
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Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Thank you, Chris Ann Cleland - wanting a view surprised both Rachael and me; it's helpful for us to know. If I don't get the chance to wish you a Merry Christmas later, I'm doing so now. Here's to more successess and happiness in 2020.

Dec 22, 2019 01:58 PM #35
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
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Lottie I just read Patricia Feager, MBA, CRS, GRI,MRP blog.  Even though I am a little late HAPPY BIRTHDAY!!! 

Dec 23, 2019 07:47 AM #36
Rainmaker
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Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

It's never too late to make a person feel good, George Souto, and your wishes make me feel special. Thank you! 

Dec 23, 2019 07:55 AM #37
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Lottie:

What a pleasure it must be working with Rachel. And bravo to her for jumping in to share her perspective. I hope she will continue doing so. And no doubt you will both learn alot from each other by working together!

Jeff

Dec 23, 2019 05:19 PM #38
Rainmaker
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Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Good morning Jeff Dowler, CRS , and a happy Christmas Eve to you! Thank you, and so many others, for welcoming Rachael so warmly. We do enjoy our collaboration.

Dec 24, 2019 07:37 AM #39
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Kris Collis, Associate Broker
Smart Way America Realty - East Stroudsburg, PA
Professional Results you Expect 702-574-8102

Lottie, great partnership with interesting insight into her local market.  "Sound control" sounds unique to this SF condo market.  Not a common theme here in the mountains :))

Dec 24, 2019 04:00 PM #40
Rainmaker
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Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hi Kris Collis, Associate Broker - many of Rachael's millennial friends are looking at condos in the heart of San Francisco, so sound control makes sense here. Newer concrete and steel buildings reduce sounds from other units far better than the beautiful Victorian or Edwardian wood-frame buildings. Thanks for stopping by and commenting.

Dec 27, 2019 07:01 PM #41
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

As a Boomer I would say that view is still major. In Oklahoma City that isn't a biggie but in SF or at our other home in Jupiter Florida view is in the top three.

Jan 17, 2020 06:46 AM #42
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Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Good morning, Joe Pryor - for a long time I didn't recognize how important a great view is to me. Now that we have a north bay view in San Francisco, I do!

Jan 17, 2020 07:40 AM #43
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