Kentfield Foreclosures and Short Sales

Currently there aren’t many Kentfield foreclosures and short sales. This surprises me as a Certified Distressed Property Expert and a follower of the real estate market.

Of the thirty homes available in Kentfield, many of them in Kent Woodlands, and of all the homes only four are distressed properties. Two are short sales and two foreclosures.

Thirty homes available, 20% in escrow. That’s a healthy market for Kentfield. With an average sales price of $2.382M these home range from the small two bedroom home at 20 Wolfe Canyon (this one’d be a great purchase as an alternative to a condo) to the wonderful, sun-drenched estate on just shy of 2 acres at $6.2M (after a quick reduction of $400,000). Yummy … if you want to see this five bedroom home with great potential as a family compound, contact me or Michele Barton (415) 258-4116.

First, the foreclosures. Aurora Loan Service Corporation took over ownership on 148 Hillside in quick time. The notice of default was recorded on January 28, the notice of trustee sale on May 2 and the recording date was June 2 with a sales price of $1,174,740. This home came on the market and is now available for $819,500.

116 Murray, a custom home now owned by Chase Bank, has a similar story in timing.  Notice of default was on October 20, the notice of trustee sale on January 24 and the property recorded to Chase on February 18 at $935,000 … more than $500,000 less than it sold for in ’04. When it came on the market at $899,000 it flew out the door in 6 days.

Next, the two Kentfield short sales. 136 Upland Road, which sold for $1.625M in ’04 came on the market and flew out when priced at $1.2M. Why the low price? This home has a notice of default by Wells Fargo that was recorded on April 4.

My favorite story is 404 Woodland, a great three bedroom, two bath home with lots of potential. This property on slightly over ½ acre, listed by Ken Licht, came on the market at $1.599M, went immediately into escrow with four offers, then fell out, went into escrow, fell out …. now listed at $1.669M it is in escrow and may the fourth time be the charm.

Two other Kentfield homes of note are in Del Mesa, a sunny location with a great reputation. 10 Madrone is a five bedroom three bath home on the market for $2.495M, listed with my friend Dave Egan (this property was on the market two years ago for $2.7M and did not sell). View it on line, then contact me and let’s go see. 12 Madrone is a home that didn’t sell for $2M half a decade ago and now, basking in radiance and beauty it is being offered at $8.75M.

Thus you see, while there are some great buys in Kentfield foreclosures and short sales, there are other great properties available for the prudent shopper. Ready, set, let’s go!