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% drop.

The hardest hit county was Contra Costa, while Alameda ranked second, followed by Santa Clara, San Mateo and San Francisco

The DataQuick report cited by Contra Costa Times show that from 2007 to 2011, homes in Oakland lost an average of $350,000, Concord $289,000; San Jose $267,000 and San Francisco $205,000.

Now, with the new crediting standard, fewer buyers receive green light from banks for new mortgage loans. New home equity lines of credit originated by banks have dropped in Santa Clara, San Mateo, Alameda, Contra Costa and San Francisco counties by nearly 90%, from $6.1 billion issued in the second quarter of 2007 to $674 million in the third quarter of this year, DataQuick’s recently published report highlights.The East Bay has seen a 37% decline in the number of specialty contractors since 2007; the Silicon Valley has seen a 28% drop.

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 lower than the 52.9% reported in the previous quarter.

One number remained unchanged though, the number of residential properties near negative equity. This was the same in the second quarter and the third quarter: 4.9%. This means about 56% of Solano County homeowners are underwater or nearly so, with less than 5% equity, the Mercury News informs.

“So many were short sold or foreclosed and therefore fell off the statistics, and a lot of new owners and investors bought at the new, lower price and may now have some equity,” Pal Winders, Solano Association of Realtors President said. ”It’s a good sign and means the market is adjusting.”

“Although slightly down, negative equity remains very high and renders many borrowers vulnerable when negative economic shocks occur, such as job loss or illness,” CoreLogic chief economist Mark Fleming said in a statement. ”The nearly $700 billion mortgage debt overhang has touched many corners of the market, and this overhang is holding back the recovery of the housing market and broader economy.”

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 committed at her Fremont business, Avemos Financial Group, the California AG said in a statement.

Furthermore, she was ordered to pay $31,000 to nine victims and a restitution hearing for two other cases is scheduled for Feburary.

“Lizarrago and her business associate, Michael Douglas Young, a 68-year-old Los Gatos man, received thousands of dollars from struggling homeowners after promising services that would save their homes,” prosecutors said. But the help never came, neither the refund.

According to the authorities, Lizzarago promised customers she would prevent banks from foreclosing on their homes and renegotiate their monthly loans. In case of unsuccessful negotiations, she promised a total refund, but none of the promises was kept, do their client’s house went into foreclosures.

Lizarrago, who has a prior felony conviction for grand theft, was on bail at the time from Madera County, where she was charged by authorities in an alleged real estate scam.

DataQuick monthly report analyzing the state’s larger counties shows Marin as the least likely to go into default, besides San Francisco and San Mateo counties. On the other side of the coin, the Sacramento, Madera and Stanislaus counties are likely to go into default. Trustees Deeds recorded statewide totaled 38,895 during the third quarter. This show a slight, 8.4% drop from the second quarter, and a 14.3% drop on year-over-year basis. The all-time peak was 79,511 in third-quarter 2008. The state’s all-time low was 637 in the second quarter of 2005.

There are 8.7 million houses and condos in the state.

Foreclosures accounted for 34.2% of the state’s resale activity during the third quarter while short sales accounted an estimated 17.8%.

During the July to September period investors purchased an estimated 29.7% of the foreclosed properties. This shows a significant 28.3% rise from the previous quarter and up from 22.7% a year earlier, DataQuick underscores.

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 land is valuable and that the building has historical value,” Wang said.
Donna Flavetta, the longtime primary owner of the 8.5-acre property until it was seized through a foreclosure in August 2010, is expected to continue to operate the business as a tenant. Lender CMR Mortgage sold the complex to the new owners.
“This is good for the winery,” Flavetta said. “Things are still in the early stages. But the plan, at this point is to upgrade the winery.”
Burdened by heavy debt because of mortgages on the property, Flavetta put the six-building site up for sale in 2008, with Triska handling the marketing. The asking price at that time was $5 million, with a $4.3 million mortgage against the property. By mid-2010, the asking price was down to $3.25 million. Recent attempts to auction off the property for about $2 million failed.

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 a 11.77-acre lot and multiple levels. Considering the garages, patios and terraces, the usable square footage is reaches 18,000 square feet, which males the property the second largest home fore sale in Laguna.
At the time of it construction in 2009 the property was in escrow for $28 million. But the deal fell through so, when the construction completed in 2010, it went back to its lender.
The listing description looks like this “Villa Mar Vista, a sublime junction of privacy, acreage, generous interiors, tasteful design, plentiful outdoor spaces and vast coastal vistas firmly secures this new-construction compound as the finest estate in prestigious Laguna Beach. Every opportunity for coastline and Catalina Island views is taken and enhanced by craftsman windows and French doors that flow into the fruit and native plant laced gardens and terraces for years round indulgence in the celebrated coastal climate. Amenities include an infinity edge pool, spa, all en suite bedrooms, garaging for 20 cars, theatre room and an atrium foyer. The 11.77-acre parcel abuts another 40 acres of open space for the ultimate in privacy, views and artful living.”