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 [...]
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 [...]
