The University of California, Berkeley is a primary force in the Bay Area, pouring more than half a billion dollars annually into the local economy. According to the university, it generates $1.1 billion in personal income in the Bay Area, buys more than $533 million in goods and services, and does business with 2,400 vendors, 40 percent of whom are owners of small businesses. No wonder so many residents of Berkeley and Oakland feel their well-being is tied to the university.

There is also plenty to do in the San Francisco Bay Area, but Berkeley proper offers the Berkeley Marina with its wonderful views, a botanical garden, museums, theater, and lots of hangouts for students.

Realtors say it is a "hot" urban and cultural center, making it attractive for residents.

"We have seen a small change in the past 3 weeks," says Realtor Linda Maier, "More properties are coming on the market. We are still seeing multiple offers, however some less desirable properties are staying on the market longer and a few have been reduced."

But Realtors believe the market is only in a temporary holding pattern as economic uncertainty overtakes the country.

"We have panoramic views of the bay and San Francisco, as well as sunshine and a mild climate. The University is the driving force in this dynamic community and keeps demand high even when things are slow in surrounding towns."

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Published: July 18, 2002

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