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 [...]
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 [...]
It looks like the spring buying season is on: million-dollar home sales in San Francisco and Silicon Valley were up as the Bay Area’s luxury housing market continued a strong turnaround in the new year, according to a new report issued by Coldwell Banker Residential Brokerage. A total of 215 homes were sold for more [...]
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 [...]
Bay Area home sale transactions were down in the first months compared to December 2010 sales, but rose slightly from a year ago due to slight price declines. A total of 4,966 new and resale condominiums were sold the the nine county area in January, down 30,8% from 7,178 in December, but up 2.3% from [...]
As predicted at the beginning of the year foreclosures are on the rise in Bay Area. The foreclosure lull was due to the paperwork scandal, but as lenders resumed their foreclosure processes, the numbers are on high levels again in Santa Clara and San Mateo counties in January. But this isn’t going to stop here: [...]
Solano County foreclosure activity declined in January, although most of the Bay Area saw a significant increase. Daren Blomquist, director of marketing and communication for RealtyTrac which released a report containing the numbers last week, said Solano County saw a 17% fall in foreclosure posting compared to last year. The percentage of homeowners here who [...]
"There is a backlog of inventory of homes that are in the process of being foreclosed, or are already foreclosed and are yet to be listed. There is a lot of inventory that has yet to hit the market," said Faramarz Moeen-Ziai, a mortgage banker with San Ramon-based Bank of Commerce Mortgage. "Total properties receiving [...]
The California Association of Realtors reported that home sales rose in November, though sales were down in the last month of the year. The median price of an existing single-family detached home sold in California fell below the $300,000 mark for the first time since February. The information coming from more than 90 local associations [...]
The foreclosure freeze issued by faulty foreclosure documents pushed Santa Clara County foreclosures down in October, according to the ForeclosureRadar report. However, this doesn’t mean that the inventory is gone, but at this rate it could take an additional three to five years of work through all delinquencies,said Sean O’Toole, CEO of ForeclosureRadar. "We’ve seen [...]
