Several of the big mortgage players are entering in the role of Santa Claus again this year, by saying they will not evict borrowers in default during the two weeks surrounding Christmas. Freddie Mac and Fannie Mae, the two government-controlled mortgage giants are freezing foreclosure evictions on mortgage loans they own or back from December [...]
New and resale houses and condos registered a 4% drop during November, making a total of 31,403 units sold. This means a 12.4% decline in unit sales from 35,860 from November a year prior. California sales for the month of November have varied from a low of 25,578 in 2007 to a high of 60,326 [...]
California’s economy seems to be on good footing with new state government reforms and a revived housing market along the coast. Okay, first it need to finish its slow slog through a sluggish recovery, an economic forecast released today shows. According to the quarterly Anderson Forecast from UCLA allowing budgets to be passed with a [...]
Irving Cohen and two associates managed to fraudulently delay foreclosures on more than 1400 properties in California, resulting losses of nearly $725 million in interest payments that extend back as far as three years. Now the state of California and federal authorities are taking them to task for the admittedly effective foreclosure stalling tactics they [...]
Although home sales were in slow gear during October, median price of existing homes in Coachella Valley rose 7.9% – the California Desert Association of Realtors reported. “The improving market is not a ‘bounce back’ but rather a steady march to a sustainable recovery,” said Greg Berkemer, executive vice president of the California Desert Association [...]
Home sales fall 17% in October across the Coachella Valley compared with the same period a year ago, helping to push the valley-wide median price down 9% to $181,500 the MDA DataQuick reports. Single family home sales are up during October from 529 registered in September to 534 in the tracked month. DataQuick reported that [...]
Investors from Monterey County lost in foreclosure auction the Soquel Plaza they bought four years ago for $3.15 million. The interesting thing related to this foreclosure sale is the Plaza went back to its former owner, Dick Erlin, a 82 years old Santa Cruz resident. He provided financing and now he got it back for [...]
