As we wrote in January:
So there’s no deeded parking and Nob Hill, but it is a rather cute little two-bedroom at 12 Auburn that’s just returned to the market after a one-month hiatus, only it’s now listed as a short sale for “$699,000” having been purchased for $700,000 in May 2005.
The property had been listed for as much as $898,000 just four months ago prior to three prices reductions and then being withdrawn from the MLS at the end of December.
The sale of 12 Auburn closed escrow today with a reported contract price of $678,400, three percent ($21,600) under its 2005 price. Don’t feel too sorry for the seller, however, as the property was refinanced in 2007 with a first mortgage for $712,500 and a second for $142,000, a total of $854,500 in debt for which the property would have had to appraise.
And yes, the short-seller, who was also the agent, was in default with JPMorgan Chase at the time of the sale.
∙ 12 Auburn Comes Up Short On Nob Hill [SocketSite]