Fall is well underway, the kids are firmly ensconced in school and the holidays are just ahead of us with all that entails including descending relatives, fine linens and pumpkin pies. (I'm already tired!) This is typically the time of year when REALTORS start winding down their business and looking ahead to the spring market - right?
Unless you've been living on Mars, you know that this year has been anything but typical. You'll need to dismiss old patterns and outdated models. Today is a whole new day!
Piedmont currently has 26 listings on the market, which is unseasonably high for the fourth quarter. While it's true that there is a bit of a build-up of unsold inventory, the majority of these listings have come to the market since September and represent extremely motivated Sellers. Moreover, committed Buyers are returning to the market now that the presidential race has been decided and optimism is within reach.
If the traffic at my last few Sunday Opens is any indication of returning market interest, I believe we can realistically expect increased demand in the next several months - especially as people begin to make tough economic choices and many families reassess private versus public school education, where the average yearly tuition has now reached $28,600 (after tax dollars). Yikes!
Just for fun, I researched a few local private schools in Oakland, Marin and San Francisco and here is what one year of private education in these following institutions will set you back. (Are you sitting?) Brace yourselves:
Sacred Heart/ Convent -$21,600
Katherine Delmar Burke - $23,300
Town School for Boys - $23,510
Marin Country Day School $24,095
College Preparatory - $28,600
University High $29,7000
Branson - $30,315
Urban High School $30,750! (Winner, winner, chicken dinner.)
Now multiply those figures by two or three children and factor in 13 years of education and the average family with two children can expect to spend a whopping $743,600 in today's dollars on private school education before their kids reach college.
Wow! That's not chump change. We're talking turkey here.
Compared to the cost of buying a home and the tax advantages that go along with home ownership, you stand to realize a significant gain by purchasing a home. Have I caught your attention? (I thought so.)
You can see how a move to Piedmont makes good economic sense (and cents) for many families who prioritize education (as it did for my family five years ago). For San Francisco families who have enjoyed strong appreciation on their current homes, Piedmont, with its coveted public K-12 education, may well provide the education, the security, the peace of mind and the community they desire without breaking the bank (as it did for my family five years ago).
Now that we've established why every family should move to Piedmont, send this e-column to a few of your SF friends and encourage them to give me a call. Winter offers the perfect opportunity to prepare one's home for a successful spring sale!
Better yet - let me design and orchestrate a plan of action to bring them a successful result!
Julie Gardner, has been writing The Perspective for 18 years and has published more than 670 essays on life and real estate.