The Department of Justice announced that eight Bay Area investors have agreed to plead guilty for their roles in two separate conspiracies to rig bids and commit mail fraud at public real estate auctions. According to the charges, the investors participated in a conspiracy to rig bids by agreeing to refrain from bidding against one [...]
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 [...]
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 foreclosure crisis doesn’t looks like reaching its end soon, as banks foreclosed hundreds of troubled homeowners in March. And the big problem is that the whole foreclosure process takes almost a year to complete. This is the longest time since the housing crisis began. ForeclosureRadar published its report about the foreclosure activity saying that [...]
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 [...]
