Sales of previously occupied home were down in February and buyers who purchased one, got huge discounts, according to the National Association of Realtors. Home prices were influenced by the rise of foreclosures and weak sales, reaching the lowest level of in nearly nine years. The nation’s median sales price fell 5.2% to $156,000 the [...]
Just weeks after acquiring the new ownership, a luxury resort group which hold the iconic Claremont Hotel & Spa in the Berkeley Hills, filed for bankruptcy protection. Tuesday’s bankruptcy filing included four other luxury hotels around the country that the group CNL-AB seized from Morgan Stanley during a foreclosure auction last week. The luxury hotels [...]
California courthouse steps get filed with investors and other interested buyers every weekday across the state. Now the FBI investigates whether some real estate speculators are illegally rigging bids for these sales. “Last week, the FBI conducted interviews and executed search warrants through the entire Bay Area as part of a long-term investigation of anti-competitive [...]
"There is a backlog of inventory of homes that are in the process of being foreclosed, or are already foreclosed and are yet to be listed. There is a lot of inventory that has yet to hit the market," said Faramarz Moeen-Ziai, a mortgage banker with San Ramon-based Bank of Commerce Mortgage. "Total properties receiving [...]
The California Association of Realtors reported that home sales rose in November, though sales were down in the last month of the year. The median price of an existing single-family detached home sold in California fell below the $300,000 mark for the first time since February. The information coming from more than 90 local associations [...]
The number of bay Area homes that were in some stage of foreclosure was declined almost 5% in 2010, a better showing compared with the national market. Looking back to 2010 and analyzing these numbers we can say that this is an encouraging sign in this 4 year old foreclosure crisis, but high unemployment rate [...]
As 2010 end the number of foreclosure filings – including default notices, notice of trustee sales and bank repossessions – fell 21% nationally since October. There were a total of 262,339 foreclosure filings nationally. This means a 14% decrease from a year ago. Commenting on the recently published numbers RealtyTrac Daren Blomquist, marketing manager of [...]
Looking back to 2010, we can see how the county’s median price hovered between $340,000 and $370,000. The median price remained far below the record of $619,000 set in August 2005, but higher than the market bottom of $305,000, registered in February 2009. According to Eduardo Martinez, senior economist with Moody’s Analytics in West Chester, [...]
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 [...]
