Real estate trackers from FiServ and Moody’s Economy see California home prices falling 9.9% in the year ending in June 2011. This might be the fourth biggest drop nationwide. Looking at the number we can see that FiServ/Economy forecast California prices up 11.5% in the year ending (last) June, which was the best number nationwide. [...]
There were 3,882 notices of default filed against homeowners in Santa Clara County during October. In addition, 3.689 homes that were scheduled for sale or had the sale cancelled and 2,529 sold back to the bank as a trustee sale. In another county of the Bay Area, San Mateo, there were 1,183 notices of default [...]
The real estate market of the Golden State, which includes the 9-County San Francisco Bay Area as part and parcel of it, is grim as of now – no question. Irving-based Realtytrac reports that California alone accounted for 21 percent of the nation’s total foreclosure activity in the quarter ended September 2010. It recorded the [...]
The foreclosure freeze issued by faulty foreclosure documents pushed Santa Clara County foreclosures down in October, according to the ForeclosureRadar report. However, this doesn’t mean that the inventory is gone, but at this rate it could take an additional three to five years of work through all delinquencies,said Sean O’Toole, CEO of ForeclosureRadar. "We’ve seen [...]
Taking a quick look at the market, we can see – with the help of the latest report released by RealtyTrac – that notices of default were down during the foreclosure freeze. Some 2,597 homeowners who missed several payments received a notice last month, which is 9.8% down from September, but a 7.2% increase from [...]
The number of foreclosed properties in the Bay Area repossessed by lenders declined 20% in October from September, as the region was affected by the foreclosure moratorium enacted in September by major lenders. However, this drop is only temporary, and now that most of these lenders have lifted the freeze, which was initiated over reports [...]
Santa Clara County of the SF Bay Area is one example we can look into for the current activity level in the housing markets in and around San Francisco. California is retaining its fourth place consistently for the last several months in the top 10 list of states, heavily hit by the foreclosure crisis. But [...]
Solano County foreclosure rates declined but mortgage delinquencies are up.This historical and unusual situation has multiple possible explanation and unknown possible outcomes. "It means people have stopped paying their mortgages but the banks haven’t foreclosed on the properties. I have no idea what this may mean in the long run," said Solano Association of Realtors [...]
The Obama HAMP was created to help a couple of million troubled homeowners in the US. Well, there are around 5.5 million borrowers who are not current on their mortgage and nearly 10% is in the process of foreclosure or are more than three months delinquents and heading to foreclosure. This is what have been [...]
If you look at the market reports of September 2010, you will be surprised to note that many housing markets, barring a few exceptions, are turning out similar results of fewer home sales; uptick median home prices. And the 9-County SF Bay Area is no exception. Why home sales are down after showing up during [...]
