Breaking: California Governor Gavin Newsom appears to be putting his Fair Oaks home on the market.
The property at 7640 Tobia Way, Fair Oaks, CA 95628 — owned by Newsom and Jennifer Siebel — has surfaced in listing records. Public property records confirm Newsom as the owner, with a tax billing address at 3201 Fillmore St, San Francisco.
The Property
- Address: 7640 Tobia Way, Fair Oaks, CA 95628
- Size: 12,663 square feet
- Bedrooms: 6
- Bathrooms: 10
- Lot: 0.53 acres
- Built: 1985
- Last sold: $3,700,000 (December 2018)
Why This Matters
When the Governor of California sells a home, it tells you something about the market. Fair Oaks is in Sacramento County — not the Bay Area or LA. A $3.7M+ estate in the Sacramento suburbs is a significant property, and its listing will draw attention to the broader Sacramento real estate market.
Sacramento has been one of California fastest-growing markets, with buyers priced out of the Bay Area moving inland. This listing will only add to that spotlight.
The Commission Math
On a property likely listing above $3.7M (its 2018 purchase price), a traditional 2.5% listing commission would be $92,500 or more.
With ShopProp flat fee of $7,995 (homes over $2M), the seller would keep $84,505+ that would otherwise go to a traditional listing agent. Same full-service representation — professional marketing, negotiation, managing broker oversight — at a fraction of the cost.
Even for a Governor, $84,505 is real money.
Real ShopProp Closing in Sacramento
As featured in
NPR · USA Today · New York Post · Brookings Institution · Mercury News · MarketWatch · Reddit r/BayAreaRealEstate
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First reported by u/ShopProp on r/bayarea. Property records via public tax assessor data.