December 23, 2009

Twas The Day Before Christmas And On The Courthouse Steps…

485 Marina Boulevard (and yes, we added the ornaments)

Its 7,531 square foot oversized corner lot along Marina Boulevard makes it hard to miss. And we’ve always been rather keen on the 4,170 square foot four-bedroom home as well.

Purchased for $2,800,000 in 2001 and refinanced in 2002 with a $1,800,000 note, 485 Marina Boulevard was scheduled to hit the courthouse steps on 12/24 with $1,848,366.41 owed on said loan. At least it was the last time we checked.

And although we’d be surprised if it actually goes to auction tomorrow, consider it an early Christmas present if it does and you’re plugged-in and prepared.

We’ll see you next week to wrap up the year.

UPDATE: As expected, it appears as though any auction has indeed been postponed until 2010. And perhaps that first isn’t all that’s owed. Cheers.

First Published: December 23, 2009 11:30 AM

Comments from "Plugged In" Readers

Just the kind of stocking stuffer I've been looking for.

Posted by: sparky-b at December 23, 2009 11:49 AM

Has anyone checked their front door for the missing wreath? A couple of details from various sources. RealtyTrac is showing an auction date of Jan. 25 (and lists the price as $1.8million, which is the amount of the refi in 2002). Yahoo!RealEstate shows the amount owed as $2,689,353. The owners went back to the well (refi or home ATM machine) in 2003 and again in 2004. All of this, courtesy of WaMu...

Posted by: EBGuy at December 23, 2009 12:02 PM

I was inside this home about a year or so ago for some wine tasting. Nice place. Owned by the folks who own Canihan Winery up in Sonoma. Ya never know.

Posted by: Newsboy at December 23, 2009 12:20 PM

Newsboy - what was the noise level like due to the Marina Blvd. traffic? that's one thing I've always wondered about the homes along that street.

Posted by: Fishchum at December 23, 2009 12:23 PM

While EBGuy usually posts reliable information, I think he's wrong in this case. I don't see the loan amounts being different in the refis. I don't know the source for Yahoo, but that amount also seems wrong.

This will not go on the steps.

Posted by: formerly%whatever at December 23, 2009 12:25 PM

"This will not go on the steps."

At all? Care to elaborate?

Posted by: anon at December 23, 2009 12:34 PM

Fishchum - I don't really recall noticing a lot of traffic noise, just remember the view. However, I'm a city person so I'm not highly sensitive to noise.

Posted by: Newsboy at December 23, 2009 12:44 PM

AAAAANNNnnnddddd, in the other corner, a perennial Socketsite favorite, 311 Marina Blvd, appears to be destined for the auction block (again) after receiving a NOTS on October 19. A $2.583million dollar loan on a $3.69million dollar sale price in mid-2007. WaMu, wamu...

Posted by: EBGuy at December 23, 2009 12:51 PM

they had a yappy white dog that drowned out the vehicle noise.

love the big corner lot.

Posted by: marina girl at December 23, 2009 1:05 PM

I *love* the homes along Marina Blvd. but can't get past the bit about it being built on fill. I watched many of these homes being rebuilt/ seismically upgraded following the Loma Prieta quake through the mid-90s. If/when the "big one" occurs, the whole thing could happen again.

Posted by: SausalitoRes at December 23, 2009 1:12 PM

I don't see the loan amounts being different in the refis.
That doesn't make any sense to me, but again, I only have access to the SF Recorders website (thanks for the update "the poster formerly know as whatever"). Can anyone suggest a reason why multiple Deeds of Trust would be filed in subsequent years? The names of all parties appear to be the same. Could these be HELOCs that don't actually show an amount? Or, perhaps, the property is being used as security for a different loan?

Posted by: EBGuy at December 23, 2009 1:18 PM

re: Noise on Marina Blvd - Not bad especially if not near a stop sign or light. It is not like living on Lombard or Franklin.

Re: Sale - Something seems out of sorts with this. The home does not show for sale AT ALL. I have a feeling there is something missing in this picture. If not, then this will be a giant step down in SF valuations imho.

Waiting now for the haiku on this one :)

Posted by: Honestly_Now at December 23, 2009 1:30 PM

Google Streetview.

Wow, that's like the most optimum density and quite beautiful facades. If only the rest of the urbanization was like that.

Corner would make a good walk-up retail space though.

Posted by: Troy at December 23, 2009 1:39 PM

^^^ like a coffee shop or a restaurant on Marina Bld. It's a nice street, but it's dead on that side. Chestnut or Starbucks next to Safeway don't cut it for me. Too far away. The next best thing is Greens at Fort Mason.

Posted by: wow at December 23, 2009 1:49 PM

Other thought is the possible sub-division of the lot at some point. I wonder if there are any deed restrictions on doing that.

Posted by: Honestly_Now at December 23, 2009 1:50 PM

My theory on the multiple trust deeds is that the initial teaser rate period on the loan ran out, so they got a new loan to start over.

To reiterate, there's plenty of equity here, so unless the tsunami literally hits, this won't go on the steps. Move along, nothing to see here.

Posted by: formerly%whatever at December 23, 2009 2:00 PM

The Christmas ornaments made me chuckle. Thanks editor.

Posted by: NoeValleyJim at December 23, 2009 3:31 PM

Deeds of Trust would be filed in subsequent years?

Deeding it between parties and then to a private trust?

Posted by: anonn at December 23, 2009 3:33 PM

Corner lot with view
Perfect for walk-up retail
Taco stand gold mine

Posted by: Kurt Brown at December 24, 2009 11:21 AM

Mery XMAS!

Posted by: Paul Hwang at December 25, 2009 2:42 PM

437020CA 311 MARINA BOULEVARD, San Francisco, CA 94123 $2,849,481.21 Cancelled 1/19/2010 2:00 PM 2:00 PM

Posted by: inclinejj at January 19, 2010 1:17 PM

The NOD on the winemaker's house at 485 Marina Blvd. was canceled on Feb. 10.

Posted by: EBGuy at March 9, 2010 3:59 PM

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