A perennial favorite which plugged-in people have been keeping an eye on since we first featured it back in 2006, yesterday 311 Marina Boulevard sold to a third party on San Francisco’s courthouse steps for $1,845,000 cash versus an opening bid of $1,700,000.
As plugged-in people know, the prime Marina district home had been purchased for $2,350,000 in 2004 and then refinanced a number of times since, most recently in 2007 with a first mortgage for $2,583,000 and a second for $500,000.
The transfer of the property that was recorded in 2007 with a sale price of “$3,690,000” appears to have been between family members. And at the beginning of this month, the balance due on the first mortgage had grown to $2,928,035 including fees.
Don’t forget those invitations to the housewarming (and the America’s Cup).
∙ PropertyShark Launches San Francisco Foreclosure Listings [SocketSite]
∙ Scheduled Auctions Flat As Pre-Foreclosure Activity Ticks Down [SocketSite]
∙ The Scope Of Development For San Francisco’s First America’s Cup [SocketSite]
Looks like Round 1 went to Chase. Will there be Round 2?
Great video walk through here. Classic and worth a watch. Hey, it has a stainless dishwasher. What a total disaster this place is here. I really can’t believe they received $1.845 cash on this house. Check out the name link.
I love how the video ends with a shot of the front door (or was I supposed to watch it in reverse?)
What a horrible video. Gave me motion sickness watching it. I couldn’t finish watching it. Too bad, it sounds like it was classic.
The time machine:
Before it sells, your realtor says “This home has great potential. I know a guy who has a crew who works for 35 cents an hour and for $250.86, this place will be a showplace!” (Translation: the higher you bid, the bigger my commission!)
After it sells, your realtor says “Did you SEE that place? It was a wreck! Ten million dollars couldn’t have saved it.” (Translation:Please oh please don’t let this be a comp!)
Before it sells, your realtor says “This home has great potential. I know a guy who has a crew who works for 35 cents an hour and for $250.86, this place will be a showplace!” (Translation: the higher you bid, the bigger my commission!)
You missed like four notes there.
Have you seen 45 Capra Way? Probate sale listed at $1.05M or something. Someone came and made an offer of $1.7M! Still needs court confirmation. I’m very curious on the tactic and value if anyone has insight, when such a property like 311 Marina goes for $1.85M.
Good news! I live down the block and was getting tired of seeing the weeds grow out front of this place. These clowns held on pretty long. I heard the house is awful, but we’re headed in the right direction now.