A Marin County company, developer of a Petaluma apartment project, defaulted on its $11.5 million loan and now is fighting Sonoma Valley Bank in court to prevent the foreclosure on six apartment buildings used as collateral. Bijan Madjlessi filed a lawsuit in federal court this month that seeks to avoid foreclosure of the Petaluma buildings [...]
April home sales reached their lowest mark for Sonoma County in 36 months. Sales dropped 9% from last year to 349 single-family homes according to The Press Democrat’s monthly housing report. While sales dropped , the county’s median home price rose almost 5%, reaching $329,460. The drop recorded last month is due to short sales, [...]
Although the bank foreclosed on her home, Tanya Dennis a former East Bay school principal took it back. Wells Fargo foreclosed on Tanya’s home after two years of hard negotiations. But Tanya came up with a solution: she called a locksmith, who helped her to break into her South Berkeley home of 27 years. The [...]
Foreclosure activity in Silicon Valley continued its downward trend in April, which seems encouraging. But the bad news is that this is only the surface: the housing recovery is far-far away. The first step of the foreclosure process registered a 25% decline from March and 29.4% from a year ago in Santa Clara County, while [...]
The percentage of underwater homeowners rose sharply in San Mateo County in the first three months of this year. San Mateo homes in negative equity reached 17.5% in Q1 of 2011 as compared to 11% last year, according to Zillow’s report. But this isn’t happening only in San Mateo, it is a trend driven by [...]
Bay Area foreclosures dropped sharply during last months according to a new report released yesterday. But experts warn: this shouldn’t be taken as a sign of an improving market. Compared with the same month a year ago, foreclosure activity plunged in Alameda County by 27.7 percent, in Contra Costa County by 19.9 percent, in Solano [...]
The expensive Santa Cruz County registered a record drop of 40% in median home prices since the housing bubble. And if you add foreclosures on the list, you’ll have a clearer image of the market. However, this doesn’t actually mean that it became affordable for many. The median price for single-family homes in Santa Cruz [...]
Although logic, as well as statistics have placed San Francisco as a renter’s city, something is in the air. Being a renter’s city doesn’t mean that people don’t buy here. It just buying a flat – for most of the people – is either flat or impossible. The extremely high housing costs, even for small [...]
Marin County registered the biggest increase of foreclosures during the first three months of this year. Foreclosures jumped a significant 28.1% since the same period last year, DataQuick reported last week. However, Marin County is the only area in the nine-county Bay Area with rising foreclosures. The figures came as a surprise to many Marin [...]
