Thursday, February 18, 2016

#California Real Estate

California, a leading state with an extremely high tax burden, is no longer 'the destination' of investment and labor. An increasing number of Californians, including Phil Mickelson, are considering leaving for lower tax destinations. This trend is affecting real estate values across the state.  New Jersey, New York, and Illinois face similar problems.

Headline: Cooling ahead for high-end San Francisco real estate

As technology stocks slide — the Nasdaq is down 15 percent this year — and private tech valuations suffer, real estate brokers say the feverish clamor for high-end homes in San Francisco has quieted.

"Somebody who might have pulled the trigger at $5 million last year now might be a bit more cautious," said Josh McAdam, a top producing real estate agent with Pacific Union in San Francisco. "It's not the same environment."



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