September brought Bay Area’s second lowest level in home sales in 19 years. The nine-county region registered the sale of 6,334 new and resale houses and condominiums during last month, which means a 20% drop from September last year, according to MDA DataQuick of San Diego. The lowest total of September was three years ago [...]
Cotchett, Pitre & McCarthy sued a Los Angeles-area law firm for allegedly collecting illegal fees for a "forensic loan audit" from San Francisco Bay Area couple promising to stop the foreclosure of their property -which they lost very quickly. Mercedes and Orlando Erazo filed a lawsuit in San Mateo County Superior Court accusing attorney Francisco [...]
The transition is silent but it is there for the good – this is what the comments made by the economists in the California Association of Realtors, pointing out the statistics in all California home markets, including SF Bay Area with regard to home sales activity, and pricing for the month of August. Overall in [...]
Carmel Partners, a San Francisco-based company has taken over the 320-unit Rincon Center apartment towers as they foreclosed on because the previous owner defaulted on the loan. This wasn’t quite an easy deal, because the previous owner, Rincon ET Realty, and affiliate of Capital Properties sought to block the foreclosure sale three times in court. [...]
Jerry Brown, California attorney general called on the state’s lenders to halt foreclosing on homes until the banks can demonstrate they are complying with state law. This announcement comes after he negotiated with the state’s top loan servicers and Bank of America announcement on October to temporarily halt foreclosures in all 50 states. "All lenders [...]
The new San Francisco Distress Index, which assembles 11 types of monthly economic indicators such as foreclosure rates and food pantry visits, has risen 11% since June last year, the month when, according to the National Bureau of Economic Research the US recession supposedly bottomed out. The Index came to life as a joint project [...]
The big plans of a developer for a Napa County commercial landmarks are gone with the wind – or more precisely with the housing market collapse – so the properties are up for grabs. Kathy Smith made waves during the last few years when she snapped up Pometta’s Deli on Oakville Grade and the original [...]
The Rincon Center complex is facing foreclosure. Residents received a letter these days from Default Resolution Network which informed them that the property was default and they were "in the process of foreclosing on behalf of the lender." "If the lender takes title to the property at the foreclosure sale, the lender intends to honor [...]
San Francisco housing sales were down 10% year-over-year, and the number of pending sales also went down from the previous year. The new report issued by Market Focus seeks for an answer to explain this phenomenon. They say the reason behind can be the concerns surrounding the fragility of the current economic recovery and persistently [...]
Although the extremely fragile national housing is shrouded by uncertainty, California gives glimmers of stability. These signs are given by the rising home prices in every corner of the state. They’ve climbed for nine consecutive months and in July posted a 10.4 percent gain year over year. That puts the state’s median price at $315,000 [...]
