CFAH

325 Berry Street #602
In default since January 2011 when already $34,633 past due on a $727,920 first, and originally scheduled to first hit the courthouse steps last month but postponed, 325 Berry #602 is once again scheduled to hit the steps this afternoon at 2 pm.
Purchased for $910,000 in August of 2007 with 10 percent down, the 1,117 square foot Park Terrace one-bedroom has been listed on the MLS as a short sale for $749,000 and “in contract” for the past 352 days.
As always, we’ll let you know who closes first.
∙ Listing: 325 Berry Street #602 (1/1) 1,117 sqft – $749,000 (short sale) [Redfin]
Park Terrace: From New Condo Smell To Litigation Discount [SocketSite]
A Savvy Buyer Loses The Race To The Courthouse Steps [SocketSite]

Comments from Plugged-In Readers

  1. Posted by Anna

    Are there any rules about updating a listing on the MLS? I have a hard time believing this has been in contract for a year.

  2. Posted by SocketSite

    Are there any rules about updating a listing on the MLS?
    Perhaps it’s changed, but as far as we know, MLS rules require agents to update the status of a listing on the MLS within three business days of any change. That requirement includes the reporting of a sale and associated sale price, even for listings that were “withdrawn” if the closing occurs within a few months of the listing being withdrawn.
    Whether or not the rules are always followed or enforced, however, is another matter.

  3. Posted by EH

    “And if you don’t, we’ll tell you you should. Sternly, if thrice told.”

  4. Posted by Rillion

    Stop or I shall have to say stop again!

  5. Posted by tipster

    No worries, another real estate professional who drank his own kool aid and lost 100% of his investment.
    Anyone know what happened yesterday?

  6. Posted by inclinejj

    Does anyone know which lender has or had the note on this property. I can not find it!
    [Editor’s Note: Chase.]

  7. Posted by lolcat_94123

    lol@”waterfront”
    I checked out that place when they first put it up – they wanted some atronomical price for the 2BRs.
    It’s a wind tunnel down there, with a great view of… the giants parking lots.

  8. Posted by inclinejj

    Still can not find anyone have a copy of the trustee sale notice or the trustee conducting the sale?

  9. Posted by tipster

    inclinejj:
    APN Block: 8707 Lot: 087
    2011 J213533-00 07/18/2011 K440 0216 NOTICE OF TRUSTEE SALE 8707-087
    2011 J213533-00 07/18/2011 K440 0216 NOTICE OF TRUSTEE SALE R CAL-WESTERN RECONVEYANCE CORP

  10. Posted by tipster

    Did anyone ever figure out what happened here?

Comments are closed.

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