Recent studies show that Bay Area homes lost more than 33% of a trillion dollars in value since the financial crisis hit the country four years ago. The numbers calculated by DataQuick are shocking: the loss in home vale in five Bay Area counties from 2007 to 2011 was $387 billion, which is a 33% [...]
More than half of all homes with a mortgage in Solano County are underwater and this is good news, according to Mercury News. An industry study released this week shows 51.1% of Vallejo-Fairfield Metropolitan Statistical Area residential properties with a mortgage in negative equity. Although this is way above the national average, it is still [...]
A Fremont woman convicted of a foreclosure scam that targeted immigrant homeowners was sentenced to 5 years in prison Wednesday, Kamala Harris, California State Attorney General said. The name of the woman is Angeline Lisa Lizzarango, she is 69 years old and she was convicted of felony fraud and theft in connection with 11 scams [...]
Napa County recorded 263 notices of default the third quarter, compared to 222 in the same period the year prior, according to DataQuick’s recent report. The 18.5% jump makes the highest percentage increase in the nine Bay Area counties. On the other side, the number of Napa County homes or condos completing foreclosure dropped 13%, from 131 [...]
Elliston Vineyards, a 121-year-old complex has now a new owner: a joint venture of Asia investors. After paying down $1.75 million in cash, the four investors are reportedly ready to plunk down more money to renovate the complex and keep it operating as a winery and event center. “They like the property, they feel the [...]
The case of Jack and Donna Pfister pictures what is happening these days in the Bay Area housing market. The couple got good news about their bid topping all others on a foreclosure in Vacaville, so they started making preparations for moving in. But several days after the good news, the were told the bank [...]
One of the priciest foreclosures in the country is located in Laguna Beach and it is available for an astonishing price of $18 million. This includes a nearly $2 million discount, and it is located at 31401 Mar Vista Avenue. The luxury real estate has 4 bedrooms, 4 bathrooms, 11,333 square-feet of living space and [...]
Properties priced $500,000 or above accounted 35.3% of Bay Area homes sales, the latest report from DataQuick notes. This is a more than 2% decline from June, when properties in that price range accounted 37.7% of all home sales. The All time low for the current cycle was in January 2009, when just 22.7% of [...]
The political show influenced the Bay Area housing market: after strong month-to-month sales gain the area for previous months, July was unusually weak. Home sales were down especially for homes above $500,000 but edged higher than July of 2010. According to DataQuick’s recent report, a total of 6,887 new and resale houses and condominiums changed [...]
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 [...]
