January 2, 2013

A New Year And Listing For 2154 44th Avenue: Now Bank-Owned

2154 44th Avenue

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]

First Published: January 2, 2013 8:00 AM

Comments from "Plugged In" Readers

Is it a Hollywood bungalow if it doesn't have Hollywood weather? I'd take it if it could guarantee a pocket of LA sun in the middle of this freezing SF weather.

Posted by: jenofLA at January 2, 2013 9:46 AM

$624,000 for THAT!? The world has gone mad...

Posted by: Gregg at January 2, 2013 3:53 PM

A gorgeous home. Seriously, this is high comedy.

Posted by: pvc at January 2, 2013 5:23 PM

That neighborhood is prime Asphalt Dunes.

Posted by: EH at January 2, 2013 8:11 PM

so the owner got away with $130k in refinance proceeds plus a couple years of mortgage free living. nice job.

Posted by: fancy rental at January 2, 2013 10:01 PM

I hope the lender that got screwed out of $130K is Chase; they're the biggest A-hole lenders out there. Well played, previous owners!

Posted by: wtf at January 3, 2013 2:47 PM

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