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 [...]
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 [...]
Vallejo might see the end of the foreclosure crisis, as the San Francisco Bay housing market registered a stabilization among home prices. It has been a rough few years in Vallejo, one of the ten American cities with the highest foreclosure rates since the housing bubble burst. The city is bankrupt and has slashed services [...]
California home sales were up in January, making three consecutive monthly increases and posting their highest level since May last year, while the statewide median price declined to its lowest level since June 2009, says the January report issued by the California Association of Realtors. The report highlights the closed sales of existing, family detached [...]
SEC (Securities and Exchange Commission charged two San Francisco promoters and a Minneapolis-based attorney with defrauding investors in a real estate lending fund by concealing the financial collapse of the fund’s sole partner. According to SEC Todd A. Duckson, a Minnesota attorney and Michael W. Bozora and Timothy R. Redpath who reside in Marin County, [...]
According to the First Republic Prestige Home Index luxury home prices in San Francisco, San Diego and Los Angeles declined from year ago levels. The expert are afraid the current quarter will look even worse. The San Francisco’ bank quarterly survey reveals that the value of Bay Area’s luxury homes fell 1.3% in Q2 from [...]
Mortgage giant Fannie Mae is testing a program to pre-approve short sales in Phoenix and Orlando, two of the areas hardest hit by foreclosures. The goal is to expedite the often difficult short-sale process by Fannie Mae agreeing on a sales price for a home on the brink of foreclosure and the loss it will [...]
It is a common practice that Realtors are facilitating the short sale transactions with the lenders. It is also well known that this is a quite time consuming effort and can easily de-focus the agents and brokers from their core business. In the mean time it is less obvious that the realtors have a fundamentally voulanrable role [...]
Studies and forecasts show that short sales expected to be 20-40% of the real estate transactions in the upcoming year. Who will be facilitating most of these sales? No question the REALTORS. The legality and the logistics of this transactions are often becoming a jungle not only for agents and brokers, but also to the employees of the lenders, not [...]
