January 2, 2013
A New Year And Listing For 2154 44th Avenue: Now Bank-Owned
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