Although 2011 began with a high inventory of foreclosures, Marin County foreclosures slowly declined in the second quarter and mortgage defaults also dropped, according to figures released this week by Bradley Real Estate. “This may be the point where we look back and say it’s starting to go in another direction,” Robert Bradley, president of [...]
June brought a minor boost for California’s housing market, but activity was still slower that a year prior, according to DataQuick. A total of 38,975 homes were sold in the state last month, which means 9.7% rise from 35,536 recorded in May. The nine-county Bay Area homebuyers purchased 7,998 new and resale condos in June, [...]
It looks like we witness a new era in foreclosures: the era of lenders foreclosing on banks. This is based on a situation that happened recently in Sacramento: Intra-Pacific Commercial Inc foreclosed on a property in South Sacramento from Westamerica Bank. Westamerica Bank became the owner of the land through a series of events, including [...]
The number of of notices of house repossession showed a significant increase and residential real estate experts in the San Francisco Bay Area are worried about more mortgage trouble that could fluid the market in the area. According to market data, the number of delinquent borrowers who received notices of house repossession reached the 20,000 [...]
Nick Nardolillo faces several bad news these days. Fremont Bank has filed a lawsuit seeking to foreclose on the Livermore winery, where Nardolillo has been living for more than 10 years. This could happen just because of the housing crash that hit the market in 2008. The problem is that Nardolillo and his winery partners [...]
Short sales and foreclosures will account a significant percentage of the real estate market, Michelle Lenahan, director of customer service and training for Foreclosure Radar concluded in a press release. Examining trends in foreclosure and bank owned properties in the San Francisco bay, Lenahan said new that delinquencies are down and the foreclosure rate is [...]
In Santa Cruz County 138 single-family homes sold in May, which is a 10% rise from 2008, when the housing market crashed, but it is a 14% decline from a year ago. The median sales price was $435,000 and 59% of sales were less than $500,000. Distressed properties accounted 41% of all sales. This includes [...]
Foreclosure activity slowed in the nine-county Bay Area during May as banks continued to halt their foreclosure process. RealtyTrac released its latest report where it states that about 1,860 Bay Area homeowners received a notice of default, down 13% from April and down 20% from a year prior. Another 876 homes were repossessed by lenders [...]
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, [...]
