What’s the latest in the Marina and Cow Hollow for real estate? Looking at both neighborhoods, the numbers, as derived from the San Francisco Multiple Listing Service, are reflected in the table below.

A comment on Cow Hollow condo sales prices: In the second quarter of 2009 (2Q09), four of the six condos sold had price ranges between $610,000 and $710,000, skewing the median price downward. Although a significant difference in median sales prices exists between 2009 and 2010, the average sales price increased by only 2 percent – $974,000 in 2Q09 versus $994,000 in 2Q10.



Loans continue to be difficult to obtain. The banks continue to be ultra conservative in providing loans. Many of the transactions in our neighborhood continue to be all-cash, which certainly makes things easier for both the sellers and the buyers.

Mortgage rates have stayed relatively stable over the last few months after the mortgage pundits predicted rates would increase some time during April. The financial debacle in Greece, as well as the rest of the debt issues existing in Europe, have assisted in keeping our interest rates low.

There has been a slight uptick in foreclosures and short sales in the neighborhood, and this situation presents opportunities for those willing to wade through the short sale process, which is usually a hassle. There was a short sale condo in the Marina that recently sold for less than $450 per square foot. This condo sold at a 33 percent discount from its last sale, which occurred three years ago. So there is opportunity out there!

            Jim O’Neil is a Realtor for Prudential California Realty at 2200 Union Street. E-mail: [email protected]