Feeding the Facebook millionaire frenzy, SFGate follows this story in the
NY Times about the
California real estate market bracing for higher home prices with a story titled "
Yes, Yes, Noe Valley." And yes, yes, it's a love letter to Noe. The article is full of observations like: "
In a still-moribund real estate market, Noe Valley stands out as a neighborhood buoyed by positive fiscal forces," citing "
its fortuitous location for Peninsula, South Bay and downtown commutes" as well as the fact that the "
private bus routes sponsored by tech firms are a draw." Lots of local name-dropping, and stories of multi-million-dollar homes going for over asking with a zillion all-cash offers. Some of the photo examples (like 725 Elizabeth, above) are from properties that sold (or didn't) in 2010 and earlier - but whatever. You get the idea. Noe Valley real estate is red hot.
Snark aside, the money quote came from Carol Yenne, 36-year Noe resident and owner of the children's store Small Frys: "
When we bought our (Noe Valley) house in 1975, it cost nothing compared to nowadays. But my mother back in Montana cried because we could have bought 10 acres and a ranch house there for the same price, and here we got a 25-foot-by-100-foot lot with an old, crummy house."
[SF Gate: Yes, yes, Noe Valley, say eager S.F. home buyers]
[NY Times: California Housing Market Braces for Facebook Millionaires]
