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Property Q&A in Belvedere Tiburon : Real Estate Advice

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Activity 2
Thu Dec 27, 2012
Mary Kay and Kathy Yamamoto answered:
Liz is right!! We looked through the whole street of properties on Teaberry, and there was only one with a notice of default filed. It was a very small amount, and the property at 17 Teaberry sold on 12/17/12 for $1,585,000.

Properties in this area of Marin are typically multi million dollar properties. It is definitely a good area.

Mary Kay and Kathy
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Fri Apr 24, 2009
Mary Kay and Kathy Yamamoto answered:
Terry,
The property that you are inquiring about is 8 Midden Lane. It sold in April 2005 for $2,452,000. There was a loan of $1,697,500 recorded against the property on the same date as the purchase. There was another loan of $325,000 recorded on August 2005, which I would assume was a 2nd, and another loan of $50,000 by a private party lender recorded on April 2008. In March 2009, it shows a trustee's deed in the amount of $659,078 from the holder of the presumed 2nd to two individuals. It would be my guess that the first loan is still recorded against the property and that the sale was on behalf of the second holder or that the property was deeded to the individual investors who held the 2nd, but I don't know that for a fact.
There is no active listing of any property on Midden Lane at this time.
If you would like us to investigate this further, please let us know!! We can order a property profile from a tiltle company. We also work with lenders listing REOs, so we do have experience in this area of the market.

Mary Kay and Kathy
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