Weekend Events and The Weekly Real Estate Update

March '16 - It's Friday

Happy Friday! The San Francisco Marathon takes place this Sunday, beginning on The Embarcadero and Mission Street at 5:30am. Even if you are not taking place in the marathon, it is an exciting day out for the family, with plenty of spectators cheering on the runners along the route.

If you are looking to be entertained all weekend long, it’s your lucky day as SF Weekly’s Best Comedy Troupe Sylvan Productions present The Bestival. Bestival consists of 15 shows, over 3 days with over 40 comedians performing across San Francisco. More information on this event can be found here.

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On the “Homes for Sale in San Francisco” front, here’s our report for this week, 7/24/16 – 7/30/16:

We love passing along these studies about various generations and their interests and levels of homeownership. This one focuses on Baby Boomers and it’s a national study. Baby Boomers, those born at the end of World War II through 1964, refuse to grow up. Rather than retiring, they’re launching second and third careers.

According to a Mortgage Daily News report, when it comes to housing those over age 55 make up a quarter of the population but control roughly two-thirds of single-family home equity. Despite the dip in home prices starting ten years ago, today’s 65-year old who bought an average house 35 years ago has seen the home increase in value 3.7 times. If that homeowner refinanced a reasonable number of times and took advantage of the homeowner tax deduction then the rate of return on this investment is hard to beat.

Survey respondents said they want to age in place. Yet many of these homeowners say they plan to move again and almost three-quarters of those say they will buy rather than rent. That suggests roughly 18 million homeowners over age 55 may be shopping for another house in the next few years.

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