If Chicagoans discuss the Cubs and Portlanders chat about the rain, Bay Area residents belabor house prices. It’s always on our minds—rising mortgages, increased rent prices, and an ever-growing influx of new neighbors make housing our number one concern. Some even joke that newcomers to the Bay should stay for a couple of years and then move along to make space for others to cycle through. We know house prices are high, and growing steadily higher.
As 2016 drew to a close, single-family residences in the Bay saw an all-time high in price (according to the Case-Shiller Index). What’s more interesting, in my opinion, is that homes in the bottom third of the market increased the most, surpassing the rest to reach a level almost 5 times what it was in the late 80s. Homeowners, this means that your “lower-end” property is becoming more valuable than ever. If you’re looking to sell and need a way to increase your profit—or if you’re just looking for a way to increase your home value without the pressure of selling—you may want to consider going in for a closet makeover.