According to latest data high-end home sales are down in Bay Area. There are two reasons: difficulty in obtaining jumbo financing and low inventory levels of high-end homes, largely because many sellers are waiting for prices to rise. At the same time, foreclosure and short sales inventory increased in the past few months. "The inventory [...]
An increased level of mortgage delinquencies can keep the housing market down for several reasons. And this is what we see right now in Bay Area and the whole country. Short sales and foreclosure put downward pressure on house prices and this leads to problems when a family wants to obtain a loan. This is [...]
The median price of a Bay Area home dropped for the second straight month in November, due to fewer sales of higher-end homes. November’s median price of $380,000 was down 0.8% from October, and 1.8% from November 2009, according to a report released by MDA DataQuick. Contra Costa County registered the second biggest year-to-year drop [...]
California State is one among most-hit by the foreclosure crisis. It has been finding a dubious place in the top 10 list, ever since the mortgage crisis rendered thousands of homeowners forfeit their equity to the foreclosure tragedy. The federal government, in association with the State’s administration, is implementing various help-programs in the past. The [...]
We have been seeing constant news items regarding price reductions, ever since the housing markets were plagued by the foreclosure crisis. Home values have plummeted continuously for months, during the thick period of mortgage crisis – starting from 2007. The flood of foreclosure properties into the markets – as distress sale where the only objective [...]
Looking into the credentials of Silicon Valley – nicknamed as such by the enormous growth of silicon-chip companies – it is rated a high-tech center in the United States, behind only New York Metropolitan and Washington Metropolitan. It is part of the SF Bay Area region, encompassing entire Santa Clara County and other cities like [...]
Unfortunately the holiday season doesn’t mean foreclosure freeze. East Bay has enriched its inventory of foreclosures with seven buildings as lenders have seized three big office projects. The properties that were repossessed in recent weeks include an office buildings and adjacent parking lot at 1111 Jackson St. in downtown Oakland; an office building at 2015 [...]
It is no secret that the ongoing housing crisis throughout the nation, especially California is the reason behind plummeting home sales. A lot of additional reasons put together are adduced for the crisis-ridden conditions of the markets – weak economy to thinning household income to unemployment – and the list goes on and on. California [...]
Corazon Palma is a 75-year old San Jose resident, who has won the first battle against illegal foreclosure proceedings. She reclaimed her home through a court decision against Washington Mutual and Bank of America and won the court decision, because her home was illegally foreclosed. According to the court documents Palma modified her mortgage with [...]
Foreclosure rates in the Vallejo-Fairfield area fell in September compared with the same period a year prior an industry data collection company reported. However, this is a too small drop to celebrate an industry recovery. According to newly released data from CoreLogic, the rate of foreclosures among mortgage delinquencies in Solano County was 3.96% in [...]
