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 [...]
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 [...]
Californian homes falling into foreclosure have started declining, moreover they managed to reach their four-year-low in Q2, as a result of a more stable housing market as well as policy changes in the mortgage industry, DataQuick reported. The numbers are the following: a total of 56,633 homeowners received notices of default during the April-to-June period, [...]
If you are looking for that specific zone that received three times more foreclosure notices than the whole US, Sacramento is the one. At least according to a mid-year report from RealtyTrac, released Thursday. More than 2.5% of households in the Sacramento region received a foreclosure filing in the first half of this year. That [...]
While Realtors talk about a slight boost in California home sales, the number of transactions is still 11% lower than a year ago, a tracking firm reported. The numbers published by DataQuick are: a total of 38,975 homes sold last month, meaning a 9.7% rise from 35,536 in May. “June likely benefited from a combination [...]
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 [...]
