The San Francisco Bay Area has joined the line of the states with dropping foreclosure filings. Although the reason behind the drop can be the holiday foreclosure seizure, it is still encouraging. RealtyTrac released its monthly report and annual look-back recently, covering the nine-county Bay Area housing market. According to the press release, RealtyTrac believes [...]
Elliston Vineyards, a 121-year-old complex has now a new owner: a joint venture of Asia investors. After paying down $1.75 million in cash, the four investors are reportedly ready to plunk down more money to renovate the complex and keep it operating as a winery and event center. “They like the property, they feel the [...]
The case of Jack and Donna Pfister pictures what is happening these days in the Bay Area housing market. The couple got good news about their bid topping all others on a foreclosure in Vacaville, so they started making preparations for moving in. But several days after the good news, the were told the bank [...]
One of the priciest foreclosures in the country is located in Laguna Beach and it is available for an astonishing price of $18 million. This includes a nearly $2 million discount, and it is located at 31401 Mar Vista Avenue. The luxury real estate has 4 bedrooms, 4 bathrooms, 11,333 square-feet of living space and [...]
Properties priced $500,000 or above accounted 35.3% of Bay Area homes sales, the latest report from DataQuick notes. This is a more than 2% decline from June, when properties in that price range accounted 37.7% of all home sales. The All time low for the current cycle was in January 2009, when just 22.7% of [...]
The political show influenced the Bay Area housing market: after strong month-to-month sales gain the area for previous months, July was unusually weak. Home sales were down especially for homes above $500,000 but edged higher than July of 2010. According to DataQuick’s recent report, a total of 6,887 new and resale houses and condominiums changed [...]
The number of Bay Area homeowners who are underwater is up 22.8% compared to a year ago, Zillow’s recent report highlighted. “Negative equity is growing because you still have foreclosures happening so the housing values are still declining,” said Svenja Gudell, senior economist for Zillow. “As home values decline, negative equity will increase.” Alameda County [...]
Fewer Bay Area homeowners received notice of default in July than a year ago, but the improvement is not a sign that the housing crisis is slowing. This drop is due to an increase in short sales and loan modifications, said Daren Blomquist, manager of communications and marketing for RealtyTrac. “It’s because foreclosure-prevention programs are [...]
A 82-unit condominium complex has defaulted on its $35 million loan, which means that a possible foreclosure is at the horizon. In addition to the bank’s lawsuit, another 19 subcontractors who worked on the property have filed complaints against San Rafael-based Monahan Pacific Corp., the project’s developer. These subcontractors demand $2.8 million in unpaid fees. [...]
Nelson Oliva, former Hercules City Manager sank into financial crisis, so he put his Hercules home for sale. The six-bedroom, five-bathroom house, built in 2003 on Nautical Cove in the Victoria by the Bay neighborhood, is listed at $549,999. The listed property is in pre-foreclosure. “The bank is holding off on foreclosure while it considers [...]
