Purchased for $450,000 in 2002 with ten percent down, in 2007 the Outer Parkside home at 2154 44th Avenue was refinanced with a $624,000 first mortgage for which it would have had to appraise.
First listed as a short sale for $429,000 six months ago, the month after which a notice of default filed, this past December 2154 44th Avenue became one of the over 500 San Francisco homes lost to foreclosure in 2012 with no bidders at $512,412 in cash on the courthouse steps.
Yesterday, the “classic two bedroom one bathroom Hollywood Bungalow on a great street in Outer Parkside” was listed anew as bank owned for $614,000 with possession at close of escrow.
∙ Listing: 2154 44th Avenue (2/1) – $614,000 [Redfin]
∙ Foreclosures In San Francisco Peaked In 2012, Set To Fall In 2013 [SocketSite]