SAN FRANCISCO (KPIX 5) — The Bay Area’s white hot real estate market the star of its own TV show.
Bravo’s newest real estate reality show is ‘Million Dollar Listing San Francisco,’ with desperate buyers, over-the-top brokers, and plenty of drama.
These days the Bay Area’s one percent is dropping some serious cash for prime properties. A $4.5 million dollar duplex in the Marina will be just one of the many pricey pads featured on the show.
The show stars three young Bay Area brokers, Roh Habibi, Justin Fichelson and Andrew Greenwell, who will try and outsell each other in one of the most expensive real estate markets in the world.
“Hot would be an understatement,” says broker Habibi. “It’s sizzling. It’s fire.”
That’s because there’s a new generation of young millionaires and billionaires.
“You have 22-year-olds wearing hoodies and t-shirts and shorts, and they’re living here in the Mission District, and starting companies like Instagram and Twitter,” said Fichelson.
“I see a lot of it coming from technology,” agrees Habibi. “That new money that most of it – if not all of it is coming from technology.”
“I mean it’s absolutely insane,” says Greenwell. “For the first time in history, real estate prices are driven by obscure things like tech shuttle routes.”
San Francisco prices have shot up more than 30% in the last 2 years.
Low inventory and high demand for luxury space makes competition steep, and guarantees at least as much drama in this Million Dollar Listing show as any of the others — maybe more.
All three agents said they applied for the show to boost their careers. Million Dollar Listing has millions of loyal viewers around the world.
That’s publicity money can’t buy.
The new show starts Wednesday, on Bravo.