We spotted this listing at 130 Granville in West Portal while doing the tour de San Francisco (real estate) for sfnewsletter, and thought we’d dedicate a post to it here (being that we’re fans of mid-century modern).
A mid-century home (built in 1955), and the only active listing in West Portal at the moment, it must have been butchered by a poor remodel given the amount of time it is spending on the market…+/- 70 days. The fact there are no pictures of the interior, and they’re claiming “custom built”, could be the giveaway. Sign of the times, or just bad pricing?
West Portal is an extremely desirable part of town. What gives?
Don’t forget to check out the last recorded sale at $350,000 in 2006. Ahhh…maybe it’s the other sure killer of a sale…greed! As a wise man once said, “In markets, bulls make money, bears make money. Pigs get slaughtered.”
–130 Granville [Redfin listing detail]
–mid-century modern [theFrontSteps]
According to Property Shark the $350k was just a refi. Probably used to finance the remodel. The property has been in the same family’s hands since at least 2002. Sounds like they saw the writing on the wall, decided to dress it up and get out while the getting is good.
Comps in the immediate vicinity (i.e. within a 100 yards, give or take) don’t seem to support that price. 195 Granville way (2148 sq feet) sold for $905k a year ago. 257 Kensington (2241 Sq. feet) sold for $1M a year ago. That’s around $450/sq. ft on average. Hoever property shark shows the median $ per square foot to be $704 for 94127, so it looks like they banked on their remodel (in which case it’s an odd decision to not show pictures of the interior) and went with the higher number, overestimated the market, and now they are sitting on a stale fish.
Yeah Missionite. Since mid August when everyone started saying the market changed — true or not, that’s when all and sundry became convinced of it — the average sales $$psqft is $707. That’s for 10 sales ranging from 878K to $1.5M. Granville shows 1404 sq ft, but it’s probably a little bigger as they talk about unwarranted rooms. Regardless it’s likely out ahead of the median by at least 100 a foot. It’s also on the outskirts of the neighborhood. West of Clarendon will perform better. (Not to mention the worrrying lack of photos.)
I live up the street from this house. It’s all original from 1955, pink Tiolets/sinks and all. The kitchen has knotty-pine cabinets with original sinks and counters. The house has some nice views and a large amount of storage space on the second level. It’s got good bones and is freshly painted. Anyone who buys this house is going to want to renovate the kitchen and bathrooms and at 1.295.000 is high for a house that needs a lot of updating, even for West Portal.
[Editor’s note: Thanks for the inside track. Sounds ripe for turning into a gem of a mid-century modern home.]