By now you’ve probably heard that Facebook is expected to have the biggest initial public offering ever for an Internet company — minting about 500 to 1,000 new millionaires in the process.
According to the San Jose Mercury News, real estate folks from the Valley and San Francisco are gearing up for a surge:
“Although a real estate boom is far from guaranteed — some agents believe the boost to the market will be limited and will trickle out over time as employees gradually gain the right to sell their stock — high-end mortgage bankers are staffing up, too, expecting business to surge.”
The article continues:
“Still, Carole Rodoni, a real estate agent and economist, expects a price explosion in places popular with the young social Internet crowd, such as Pacific Heights, Noe Valley and south of Market area in San Francisco, and Hillsborough, Atherton and Palo Alto.”
And let’s not forget that the Mission is also a playground for Facebook techies.
