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July 15, 2011

Cash Buyer Saves the Day for Corona Cottage


The last-minute, “foreclosure-is-extended” activity at the short sale cottage over at 3066 Market at Hattie in Corona Heights led to positive results for everyone involved.  The small fixer property hit the market in April for $710,000 and subsequently had its share of price reductions.

Time was ticking, though, and foreclosure was imminent. After being withdrawn from the MLS toward the end of June, the seller brought the home back on the market at $499,000, and the listing agents informed everyone that the only hope for a sale was that a cash buyer would step in and close by July 7th.

It happened! 3066 Market closed earlier this week for $485,500. Not a bad deal at all, and one to note if you’re in the market for a single-family home for under $500,000 in San Francisco (a rarity).

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