Home sales dip in Santa Cruz during October as more homes entered the foreclosure pipeline. A total of 110 single-family homes sold, down 36% from a year prior, according to Gary Gangnes of Reak Options Realty, a real estate market tracking company. Median home price was $501,250 which is the lowest since the beginning of [...]
According to The Standard & Poor’s/Case-Shiller 20 City home price index just released, overall home prices are weakening across the housing markets in the country. The price index fell by 0.2 percent during the month of August compared to July; and 15 cities showed monthly price declines. California has 3 of the cities – San [...]
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 [...]
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 [...]
With short sales becoming ever more popular as an alternative to foreclosures, an alarming trend dampens the irrefutable success the process offers all parties. Of course the short sale process requires the approval of the lender. Large portion of the short sales have been severely hampered by lenders failing to respond timely to the short [...]
With the Eureka Short Sale Program the homeowner’s details are withheld from the market while the conditions of the settlements are being negotiated. Subsequently the property will never be marketed as distressed sale; it will be presented to the market based on its features, not on the vulnerabilities of the parties involved. So the Eureka [...]
While Eureka is able to negotiate an agreement with the timely approval of the lender then simultaneously utilize its immense marketing capabilities to off load the property is a tremendous value to a homeowners flailing in financial uncertainty. Since the property is not marketed as short sale it gives an instant boost in marketability. Real [...]
All categories of foreclosure, (freshly instituted foreclosures, foreclosures in progress, and completed foreclosures) experienced solid gains of almost 20% from Q4 in 2009. Clearly the legal system is being tested to the very boundaries of its capacity. With fundamental assistance from the Home Affordable Modification Program (HAMP) loan modifications have increased slightly by approximately 5%. [...]
