From Micro-Neighborhoods to Million-Dollar Views: Decoding Bernal Heights Real Estate
Meet Tracy Hsieh: Your Bernal Heights Real Estate Expert
In the ever-evolving San Francisco real estate market, finding an agent who truly understands both the business and the neighborhood is invaluable. Tracy Hsieh, a seasoned real estate professional with Compass, brings 12 years of experience, in-depth construction knowledge, and a deep understanding of Bernal Heights to every transaction. Recently, Bernal Heights’ Mike Doherty sat down with Tracy to discuss her journey, the current market, and what makes Bernal Heights such a special place to call home.
Background and Journey to Bernal Heights
Tell us a little about your background.
This is my 12th year in real estate. I should start by saying that my story begins with the fact that I’m very proud to be the daughter of immigrants who came to California in the 1970s with nothing but a dream of building a better life. By observing how hard they worked, I built the foundation for my business, which is based on integrity and strong fiduciary advocacy for my clients. My first clients were my parents. I’ve also focused on adapting to this volatile market, leveraging our deep market understanding to incorporate new tools into the business.
And volatile, meaning post-pandemic or just a tough market in general?
I entered the real estate industry during the last recession, and it has been volatile ever since. We have an in-house economist, and we discussed this topic yesterday. He said there hasn’t been a “normal” year, probably for the last seven years. It’s very difficult to derive data for future forecasting because we lack historical data, as in the case of a pandemic. We’re seeing significant seasonality in our market and observing how developments at the federal level are affecting our highly localized market.
My husband and I came here for school. We were not from San Francisco – I’m from LA, and my husband is from Vancouver, Canada. We came to school, met, found jobs, got married, and now we have a kid. We initially rented in North Beach.
Sounds like a checklist.
It’s funny, I hear the same story over and over again from new people coming into Bernal. It’s a very similar checklist. And what’s even funnier is when I talk to Bernal folks who’ve been here for 15, 20, 30 years – it’s the same story. Either they grew up here or came here because their partner did, got married, had kids, found work, and just fell in love with Bernal.
We rented a place in the middle of the city and then moved here. We decided we wanted to find a place that felt more like the communities we grew up in – a small town in a big city with great walkability. That’s Cortland, of course, plus a lot of green space. All the parks we have here are fantastic. We did what I think many couples do: get a dog first to test the waters and see if we wanted to be parents.
And then you just gave birth earlier this year. That’s new.
Very new. It’s amazing how, for something as precious as this, your body, mind, and spirit can stretch much further than you think.
It feels new, even though there are technically many instructional books and pieces of advice. It still feels like we’re unsure what to do and how to do it correctly. How can we help her become independent while also being fully present in her life? It’s a modern approach to parenting, and we’re still figuring it out.
Moving to San Francisco
Were you in real estate at the time, or was that something that happened once you were here?
No, I came here for my undergraduate studies and then moved back home briefly to join my parents’ business. My dad’s in the construction business, specializing in steel fabrication. I got started because they were exploring real estate investing as a means of wealth building. Since English is not their first language, they find it very difficult to understand the complex process. They enlisted me to help them.
We were buying vacant land and building properties on it. So, I got my start in general contracting. That’s what I tell clients I’m very good at – the construction aspect and understanding the wealth-building perspective. I’m a real estate agent, but I was first a real estate investor, focusing more on development, and then segued into general retail sales. I’ve been working as a licensed agent for 13 to 14 years now. This is the only career I know of, which is unusual for real estate agents, whose average age is around 49-50.
They come to it later.
Yeah, after two or three or four professions. This is my first and longest career to date.
The Real Estate Industry and Business Approach
Compass is my main brokerage. They are my broker, and I’m an agent under them. I was previously with Keller Williams for a very long time, both in Southern California and in the area where I currently reside. I’ve been with Compass for the last two years.
What do you like about Compass?
Every agent runs their own business – we’re 1099s. However, I moved to Compass because they’re a truly tech-driven company. They’ve made significant investments in technology. My clients have enjoyed the Compass app, which allows them to view all properties syndicated from the MLS. Additionally, Compass offers a feature called “Make me Move,” also known as Compass Exclusive. If a seller wants to test the off-market path before going public, Compass is a great platform for that.
I think it speaks to how our clients, especially in the Bay Area, are responding – they’re tech-forward, very tech-savvy. They want information extremely quickly. They want much more information than consumers were used to receiving before. The biggest shift is that, 20-30 years ago, you had to go through a real estate agent to access properties. Now, everything is at your fingertips. We’ve shifted from being the gatekeepers of real estate to becoming true consultants.
Client Needs and Bernal Heights Market
When you say they’re looking for data, what specific information are they seeking? Are they looking for schools or walkability?
It depends on the client and their current life-cycle stage. The majority of clients I deal with are couples, dog owners, or parents. One key factor is being in a safe, walkable area. Schools in San Francisco – where you buy is not where your kids go to school, because we have a weighted lottery system, so that plays a lesser factor. However, if you have a particular private school in mind, location still matters.
I have this conversation almost every other day now – people say they’ve been renting in Hayes Valley, Marina, or wherever, and they’re ready to make the next move. They’re looking for a dog- and family-friendly house that’s walkable and has access to the South Bay, since they or their partner works there. We’ll go through this exercise of priorities, and the answers are generally: Noe Valley, Bernal Heights, Glen Park, and parts of Potrero with easy freeway access. For many people in this particular chapter of their life, Bernal seems to be answering that call.
It seems that there has been a significant increase in home sales activity recently. Is that correct?
Year over year, we’re still about 20% down from what we were experiencing from 2013 to 2019, pre-pandemic. That’s just sheer inventory. We used to sell maybe 5,500 homes on average; now we’re closer to 3,800-4,200. This applies to all neighborhoods and property types. It’s because we’re locked into low interest rates, which are now doubling or tripling in some cases, making borrowing significantly more expensive. As a result, sellers are reluctant to move.
The price per square foot has gone up significantly. When I first started in Bernal, the average price for a three-bedroom, two-bath house was around $1.4 to $ 1.6 million. After the pandemic, when interest rates were very low, we saw the value increase to $1.9 million in a very short period. It’s now leveled off closer to $1.6-1.7 million for a three-bedroom, two-bath. However, location matters – in certain hotspots of Bernal, you really can’t buy a three-bedroom, two-bath house without spending $1.9 to $2.3 million or more.
Is that as you go up the hill?
It depends. I have a detailed map of the micro-neighborhoods within Bernal. Proximity to Cortland is very important, as it’s located just three blocks up from Cortland, near the middle. We’re seeing that bleed into the first two blocks south of Cortland, again in the middle. I would also say the northeast corner, where you get almost unimpeded views of downtown. There’s so much of what you get in pricier neighborhoods like Noe and Potrero – beautiful, breathtaking views of Sutro, some parts of the Golden Gate Bridge, all the way to the water. We’re seeing an average of $2 million to $2.7 million, depending on the location.
With these micro-zones, is there a really big difference between different sides of the hill?
Yes, it all comes down to buyer perceptions and what they’ve heard from their friends. The northwest corner is also extremely popular. It’s evening out, though. We were deciding whether to pay an extra 25% to be north of Cortland or find something south and hire a fixer to do it to our liking. We’re in the southeast corner of Bernal, and we love it. What I thought would happen happened – the value is slowly creeping down from north to south.
Community Involvement and Open Houses
We typically receive around 30% of all traffic visiting open houses from neighbors, usually direct neighbors. They want to see what was done and are particularly interested in knowing the value of their house. The next question I always get is, “I’ve been here for 20 years, what’s been going on in the market?”
What Makes You Different
There’s no shortage of real estate agents. What makes you different? Why would I pick you?
That’s a very valid question. One thing I do differently is that we’re very process-driven. Clients should expect very detailed processes and understand each step. My clients are very smart – I never take that for granted.
Are most of your clients tech people?
I would say that half are in tech, but many are in healthcare or other professions. Each one is very smart and knows what they’re doing. I’ve evolved my business to better align with theirs. We’re teammates, rather than me dictating what needs to happen. We go through all the options, I tell them what I recommend, provide three alternatives, and we discuss them to pick the one that works best for them.
Do they come to you for handyman referrals and similar services?
That’s a huge part of our service. We’re very tech-forward and have a massive resource of trusted vendors. Additionally, what makes this particularly special is that I am hyper-local to Bernal. I know Bernal well. I do things at my open houses that others don’t. I have this massive map of Bernal because not everybody moving into Bernal knows it well enough. To build value, I want to show people why Bernal is so amazing – with its diverse restaurants, various activities, and what truly matters in life – and how Bernal can complement those aspects. Just knowing the neighbors makes a difference.
We cover a vast area. That’s why we have micro-neighborhoods.
Why Bernal Heights Works
What I love about Bernal is our topography – the rolling hills and the vantage points you get from some of these houses.
The views are what make Bernal special. The northeast part has steep climbs but awesome views. The views from the south side are truly fantastic. I should just become a spokesperson – I love Bernal, come to Bernal!
All things considered, this is a relatively affordable area for what you want. If you’re looking for a single-family home with walkability, you don’t get that in Pacific Heights, where the average house is around $3 million. We have Cortland, which offers us the opportunity to dine at restaurants and go out at night. We have easy access to downtown, the city center, and Silicon Valley – hop on 280 or 101. And we’re not as expensive as Noe Valley and the north part of Potrero. For all those reasons, Bernal makes a lot of sense.
Ready to Make Bernal Heights Your Home?
Tracy Hsieh’s unique combination of construction expertise, investment savvy, and deep neighborhood knowledge makes her an invaluable partner in your real estate journey. Whether you’re a first-time buyer drawn to Bernal’s walkable charm, a growing family seeking the perfect home, or an investor looking to build wealth through real estate, Tracy’s process-driven approach and hyper-local expertise can help you achieve your goals.
As a multilingual agent fluent in English, Mandarin, and German, Tracy brings a global perspective to the local market while maintaining the personal touch that makes all the difference in real estate transactions. Her passion for Bernal Heights is evident in every interaction, and her commitment to integrity and strong fiduciary advocacy ensures that your interests always take precedence.
Ready to explore what Bernal Heights has to offer? Contact Tracy Hsieh at Compass today to schedule your consultation and discover why many families choose this vibrant neighborhood as their home.
Follow her on Instagram @TracyHseih or https://www.compass.com/agents/tracy-hsieh/.
Calendar – Bernal Heights and Beyond
Tracy Hsieh | Real Estate Expert at Compass
Mike Doherty serves as Chief Experience Officer at Greening Projects, a nonprofit organization dedicated to transforming underutilized urban spaces into vibrant green areas
