There’s been sort of a strange milestone crossed in Foster City today. It’s the fact that the townhouse at 32 Binnacle has been officially on the market for 500 days. It’s a short sale and for you uninitiated folks out there it’s not possible for anything to be more poorly named! A short sale it is not. A REALLY long sale maybe…but certainly not short. This place came on the market way back on September 19, 2011. It’s an absolutely astonishing thing that the bank hasn’t foreclosed on it yet. Of course there’s several other liens on it as well and as I understand it the actual foreclosure proceeding has been set for the first week in March. We’ll see if that happens.
Of course there’s been offers on this unit, the buyers got sick of waiting and moved on. I guess it’s just the 500 day thing that’s so incredible to me. Currently there’s no offers being worked on here…so maybe it’s an opportunity for you to get it before the bank takes it back? Of course, if they haven’t bothered to make this work before now, why would they jump on it in the next 30 days?