Purchased for $1,225,000 in August 2006 and financed with a mortgage for $980,000, in 2007 a second was drawn for $97,206, perhaps to help pay for the “swank” remodel for which we couldn’t find any permits online.
One the market and listed for $1,295,000 since last September, last month a notice of default was filed for the first mortgage which was already $58,806 past due at the time.
While the list price for the property hasn’t changed, it’s now positioned as a “short sale.” And while the listing doesn’t note a chef’s kitchen, if a plugged-in tipster is correct, it is a restaurateur’s as the buyers in 2006 were operating Maya which closed late last year.
Watch your step on those stairs. And no, we don’t believe they’re to code.
The short sale of 286 Maywood Drive closed escrow yesterday with a reported contract price of $1,095,000, 10.6 percent ($130,000) under its pre-remodeled purchase price in 2006.
Chef’s Restaurateur’s Kitchen And Misstep(s) [SocketSite]
∙ A Plugged-In Reader’s Disasterlicious Comment/Caption Of The Month [SocketSite]