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 [...]
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 expensive Santa Cruz County registered a record drop of 40% in median home prices since the housing bubble. And if you add foreclosures on the list, you’ll have a clearer image of the market. However, this doesn’t actually mean that it became affordable for many. The median price for single-family homes in Santa Cruz [...]
