311 Marina Boulevard
A perennial favorite which plugged-in people have been keeping an eye on since we first featured it back in 2006, yesterday 311 Marina Boulevard sold to a third party on San Francisco’s courthouse steps for $1,845,000 cash versus an opening bid of $1,700,000.
As plugged-in people know, the prime Marina district home had been purchased for $2,350,000 in 2004 and then refinanced a number of times since, most recently in 2007 with a first mortgage for $2,583,000 and a second for $500,000.
The transfer of the property that was recorded in 2007 with a sale price of “$3,690,000″ appears to have been between family members. And at the beginning of this month, the balance due on the first mortgage had grown to $2,928,035 including fees.
Don’t forget those invitations to the housewarming (and the America’s Cup).
PropertyShark Launches San Francisco Foreclosure Listings [SocketSite]
Scheduled Auctions Flat As Pre-Foreclosure Activity Ticks Down [SocketSite]
The Scope Of Development For San Francisco’s First America’s Cup [SocketSite]

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Comments from “Plugged-In” Readers

  1. Posted by EBGuy

    Looks like Round 1 went to Chase. Will there be Round 2?

  2. Posted by eddy

    Great video walk through here. Classic and worth a watch. Hey, it has a stainless dishwasher. What a total disaster this place is here. I really can’t believe they received $1.845 cash on this house. Check out the name link.

  3. Posted by Dan Clark

    I love how the video ends with a shot of the front door (or was I supposed to watch it in reverse?)

  4. Posted by Lori

    What a horrible video. Gave me motion sickness watching it. I couldn’t finish watching it. Too bad, it sounds like it was classic.

  5. Posted by tipster

    The time machine:
    Before it sells, your realtor says “This home has great potential. I know a guy who has a crew who works for 35 cents an hour and for $250.86, this place will be a showplace!” (Translation: the higher you bid, the bigger my commission!)
    After it sells, your realtor says “Did you SEE that place? It was a wreck! Ten million dollars couldn’t have saved it.” (Translation:Please oh please don’t let this be a comp!)

  6. Posted by [anon.ed]

    Before it sells, your realtor says “This home has great potential. I know a guy who has a crew who works for 35 cents an hour and for $250.86, this place will be a showplace!” (Translation: the higher you bid, the bigger my commission!)

    You missed like four notes there.

  7. Posted by ryan

    Have you seen 45 Capra Way? Probate sale listed at $1.05M or something. Someone came and made an offer of $1.7M! Still needs court confirmation. I’m very curious on the tactic and value if anyone has insight, when such a property like 311 Marina goes for $1.85M.

  8. Posted by anon

    Good news! I live down the block and was getting tired of seeing the weeds grow out front of this place. These clowns held on pretty long. I heard the house is awful, but we’re headed in the right direction now.

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