Real estate is all about location, location, location. I see from you're zip you're in the Cow Hollow/Marina neighborhood. Believe me there is far more demand for a beautifully prepped and staged home in the Marina for under 3 mil, along with other prime areas of this town. (Pac Hts, Russian and Nob Hills, Noe Valley, Lake District, Sea Cliff etc... The media reports on doom and gloom and they can't get a handle on positive news. (Doesn't sell media advertising!) People in the hardest hit - over built - areas experience. (In Las Vegas, Phoenix and LA markets can't believe we're seeing multiple offers over asking price for some of these homes as they draw from their own experience.
Believe me, it really jogs and boggles their minds! But really - How can you compare a 4 Br 3 Ba home in a suburb of Las Vegas or Los Angeles to one that's a block from the Marina Green or sits above Union Street?
Even Carol Lloyd of the SF Chronicle SFGate.com fame wrote a great article about the Tale of Two Cities in San Francisco. We really do have two "San Francisco's", actually many more than two!
So be my guest and take a look at 168 - 170 21st Avenue in the beautiful Lake District. You'll see there is a margin there to flip it into a property like 162 23rd Avenue two blocks away! }:-) And even more upside if two owners buy and hold for 2-3 years to go condo. I can't tell you what the future will bring as my crystal ball has fog rolling through it like everyone elses, but the prospect for people continuing to move to the world's most favorite City is still great and we can't increase the supply of land and we certainly can't build enough housing for everyone who wants or desires to live here fast enough.
All my best,
Michael Ackerman, Zephyr Real Estate, 415-695-2715, ABZ@ZephyrSF.com