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 [...]
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 [...]
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 [...]
Foreclosure can be the result of irresponsible money handling or the result of a financial crisis. A recent report published by TransUnion shows that many homeowners who defaulted on their mortgages during the years of the economic breakdown subsequently proved to be responsible consumers. “Certain consumers who defaulted on a mortgage in the recent recession [...]
The median sales price for a single-family home in Santa Cruz County was $445,000 in April, which was bad news for those looking for values to recover, offering prices comparable to those 11 years ago. This drop makes April the fourth month that the median was less than half a million. There were 139 sales, [...]
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 [...]
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 [...]
