Purchased for $2,500,000 in 2006, the renovated “Mediterranean Revival jewel” at 3737 Broderick Street, “just steps from the Marina Green and the St. Francis and Golden Gate Yacht Clubs,” returned to the market four months ago listed for $2,649,500, a list price which was dropped to $2,292,000 as a “bank approved” short-sale in January.
With a sale pending per the MLS, the four-bedroom Marina property is currently scheduled to hit the courthouse steps tomorrow being $279,777 past due on the $2,000,000 first mortgage employed in 2006 when 3737 Broderick was purchased with 10 percent ($250,500) down.
Once again, the race to the courthouse steps is on.
∙ Listing: 3737 Broderick (4/2.5) 2,652 sqft – $2,292,000 (short sale) [Redfin]
∙ A Savvy Buyer Loses The Race To The Courthouse Steps [SocketSite]
Good find.
Ugh. More ham fisted push-button HDR photos. I’m looking forward for this fad to pass.
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Looks like the bank held out until the market decline completely consumed the owner’s deposit.
i for one am happy to see this short sale. my husband and i were looking to purchase this house in the spring of 2006. our budget was $2M and this house was over as it was listed at $2.2M. as we were discussing the purchase with the seller (an agent who was flipping it from the deceased’s family) this arrogant man (current seller) came in and announced he was buying the house and sat down and starting filling out the purchase papers for $2.5M. needless to say the agent was flabbergasted but showed us the door. we were upset at ‘losing out’ but rationalized the house needed work as well. Really happy ending for that arrogant [blank.]
A quick propertyshark / Google / Yelp search will tell you all you need to know…
UPDATE: Renovated Marina Jewel Falls Short But Avoids The Courthouse Steps