Buy my house, please
The Bay Citizen has a story today about a fellow from Stanford’s Hoover Institute that is having trouble selling his mini-mansion on the corner of Funston and Lake Street.
It’s a 1913 Edwardian that set him back $2.85 million in early 2007, and into which he put $400k for upgrades. It’s beginning list price was $3.15 million, now it’s down to $2.6 (view listing). They even invited dignitaries like Supervisor Eric Mar over to check out the house and help spread the word (“It was an unusual ask to come to a beautiful mansion like this,” said Mar.)
My guess on why it’s not selling? It’s 1/4 block from the ever-busy Park Presidio Boulevard. At that price I’d expect quieter surroundings and more of a front yard like in Sea Cliff or West Clay Park. The owner’s take on why it’s not selling? You can read his scholarly treatise here.
Read the full story at baycitizen.org
Segway tours approved for Golden Gate Park
Wheeeeee! As we mentioned in March, the Rec & Parks Commission was considering proposals for a segway tour operator in Golden Gate Park. The Examiner reports today that at its regular meeting Thursday, they unanimously decided to allow San Francisco Electric Tour Co. to operate its segway tours from behind the Music Concourse.
Final step – they have to get their lease approved, which is expected to bring in about $79,000 in the first year and about $115,200 by year five to Rec & Parks bottom line.
Read the full story at sfexaminer.com
Sarah B.
Personally, I find the house rather blah. Not anywhere worth the money IMO — I want to be wowed for that amount. Better colors and restaging? The tiled deck uses funky colors too. I don’t think it was a good remodel. The yard is too open to the passing public. It’s lovely though not large, but the fence needs to be higher. Passerbys can look into the house from either side of the door. I don’t know how secure that is either. Just not a very private piece of property. The location itself doesn’t bother me.
I agree, Sarah. It’s not a location I would ever choose. I would not want to be that close to Park Presidio. Also, there’s just not that many people that want almost 4,000 square feet – especially when it’s not in a super exclusive location. It’s current price per square foot (~$660) is comparable to other homes in the area north of Lake street. But it’s just an odd location. But also, if you look at the listings, you’ll see other $2M+ homes north of Lake that have sat on the market for months or even years.
Basically, there’s not that many people who will pay $2-3M for a house to begin with and in an economy like this, even fewer of them willing to make a bet on anything but firesale prices.