California foreclosures are still high but trending down, according to DataQuick stats. This shows nearly 1,200 Stanislaus homes, about 1,400 in San Joaquin and 585 in Merced repossessed by lenders this April, May and June. This is a significant drop compared to the number of homes lost in the spring of 2009 or 2010 and [...]
Although foreclosure activity is down in East bay for June, it doesn’t mean that the housing market is recovering, it’s rather the effect of the new requirements imposed on lenders. It started with the robo-signing scandal last fall and in April federal regulators announced a consent decree with major lenders that among other things ends [...]
Santa Clara County Superior Court stopped the sale of the troubled Sunnyvale Town Center 30 days ago. But according to sources the proposed 36-acre foreclosed mixed-use development project will go up for public auction Aug. 15. The previous sales attempt was stalled after the court-appointed receiver tried to sell the real estate without an open-auction [...]
According to the latest reports issued by real estate tracking companies, fewer homes in Silicon Valley are entering into the foreclosure process. Although this sounds good, it may not necessarily be a good thing. This is happening because lenders are stalling their foreclosures since the robo-signing scandal hit the surface last fall. The actual numbers [...]
San Francisco-Bay area recorded 14.5% rise last month in home sales compared to May, but still remains 4.5% below year-ago levels, according to DataQuick. The report issued Thursday by the real estate research firm says the median sales price are up 1.5% from May, hitting $377,750, but still under the $410,000 median established last year. [...]
Kamal Sharma’s situation reflects what is happening in reality in the nine-county Bay Area. Sharma almost lost his home in a foreclosure auction because of a lender, although he didn’t owe a dime to it. In the chaotic Californian market this case – and many other similar cases – show that lenders continue their own [...]
A Chabad House in the heart of San Francisco was recently saved from foreclosure, by “loving members from the community who came together to save the day.” Rabbi Ahron Hecht of the 15-year-old Richmond Torah Center gave the happy news to the board of directors: $49,000 had been donated before a mid-June deadline. The amount [...]
Bay Area housing market recorded a light month-to-month gain in sales and median prices, while new-home sales were down last month. However, distressed properties, cash buyers and investors remained far above the national average, a DataQuick reported. A total of 6,988 new and resale houses and condos sold in the Bay Area last in May. [...]
Although the surface show that foreclosures are trending down in the state of California, foreclosure activity has actually been up in San Francisco. The biggest gains in activity were outside of the oft maligned “District 10” which wasn’t present in the San Francisco foreclosure activity for well over two years. In January the percentage of [...]
