Asking prices for homes for sale around the Bay Area rose substantially in December compared with the same time last year, according to San Francisco real estate website Trulia, ranging from a 16.3 percent spike in tech-fueled Santa Clara County to a 7.6 percent increase in Napa County. The nine-county Bay Area saw an average increase of 13 percent. By comparison, asking prices nationwide rose 5.1 percent in December compared with December 2011, Trulia said.

“Both job growth and tighter inventory gave (sale) prices a lift,” said Jed Kolko, Trulia’s chief economist. “Price increases accelerated throughout 2012, getting bigger as the year went on.”

Analyzing asking prices of homes currently for sale provides a leading indicator of what sales numbers are likely to look like in a few months’ time, Trulia said.

Data on sales throughout much of 2012 have shown the housing market recovering from the extended downturn that started in 2007.

Nationwide, Trulia said, “2012 marked a huge turnaround year for most local housing markets” with prices increasing in 82 of the 100 largest metro areas in December. In December 2011, only 12 markets had price increases.

Las Vegas, Seattle and Phoenix were Trulia’s “top turnaround” markets, followed by Oakland metro (Alameda and Contra Costa counties) and San Jose metro (Santa Clara and San Benito counties).

California cities such as Sacramento and Fresno that were devastated by the housing crisis also saw strong gains in 2012, Trulia said.

“Nine of the top 10 turnaround markets in 2012 were in the West,” Kolko said. “The only one east of the Rockies was Atlanta.”

Asking rents also rose, with Alameda County seeing the biggest spike (13.2 percent) and already pricey San Francisco the least (2.9 percent), Trulia said. The average increase for eight Bay Area counties (Napa did not have enough data) was 7.8 percent. Nationwide, rents grew 5.2 percent.

“We’re seeing rent increases across the region,” Kolko said. “In San Francisco they were smaller because rents are already so much higher there than elsewhere and it has had strong rent increases before this. The slower increase doesn’t make the city affordable.”

While rising home prices illustrate a housing market beginning to recover – and to stimulate economic recovery – they of course are not good news for those house hunting.

“They come with the perennial challenge of affordability in the Bay Area,” Kolko said.

Carolyn Said is a San Francisco Chronicle staff writer. E-mail: csaid@sfchronicle.com

Article source: http://www.sfgate.com/realestate/article/Bay-Area-rents-home-prices-up-sharply-4163037.php

Bay Area home sales are continuing to rise, with the median sale price the highest it has been in nearly four years, according to a real estate report released Friday.

In the nine-county Bay Area, 8,461 homes were sold last month — a 22.9 percent increase from the same time last year, according to a report by the real estate information service DataQuick.

The average figure for July, based on data recorded since 1988, is 9,371 home sales.

The median price for a new home or condo was $421,000, which is a 1% increase from $417,000 in June and a 12.6% jump from July 2011.

July’s median price was the highest recorded since it was $447,000 in August 2008.

The increase appears to be connected to a higher share of sales in the mid-to-upper price ranges, according to DataQuick.

Median sale prices in San Francisco, Alameda, Contra Costa, Santa Clara, Solano, Marin, Napa, San Mateo and Sonoma counties all increased in the past year with Napa County seeing the biggest price increase at a 32.6% jump.

Median prices in that county were at $281,000 in July 2011 and reached $372,500 this July, according to DataQuick.

The highest home prices in the region this summer are in San Francisco with $714,000 listed as the median cost, while the lowest can be found in Solano County at $188,000.

Sasha Lekach, Bay City News

— Bay City News Service

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Article source: http://www.pleasantonweekly.com/news/show_story.php?id=9901

In the nine-county Bay Area, 8,461 homes were sold last month — a 22.9 percent increase from the same time last year, according to a report released Wednesday by the real estate information service DataQuick.

The average figure for July, based on data recorded since 1988, is 9,371 home sales.

The median price for a new home or condo was $421,000, which is a 1 percent increase from $417,000 in June and a 12.6 percent jump from July 2011.

July’s median price was the highest recorded since it was $447,000 in August 2008.

The increase appears to be connected to a higher share of sales in the mid-to-upper price ranges, according to DataQuick.

Median sale prices in San Francisco, Alameda, Contra Costa, Santa Clara, Solano, Marin, Napa, San Mateo and Sonoma counties all increased in the past year with Napa County seeing the biggest price increase at a 32.6 percent jump.

Median prices in that county were at $281,000 in July 2011 and reached $372,500 this July, according to DataQuick.

The highest home prices in the region this summer are in San Francisco with $714,000 listed as the median cost, while the lowest can be found in Solano County at $188,000.

—By Bay City News Service

Article source: http://losgatos.patch.com/articles/bay-area-real-estate-prices-highest-in-nearly-4-years

Bay Area home sales are continuing to rise, with the median sale price the highest it has been in nearly four years, according to a real estate report released Wednesday, Aug. 15.

In the nine-county Bay Area, 8,461 homes were sold last month — a 22.9 percent increase from the same time last year, according to a report by the real estate information service DataQuick.

The average figure for July, based on data recorded since 1988, is 9,371 home sales. The median price for a new home or condo was $421,000, which is a 1 percent increase from $417,000 in June and a 12.6 percent jump from July 2011. July’s median price was the highest recorded since it was $447,000 in August 2008.

The increase appears to be connected to a higher share of sales in the mid-to-upper price ranges, according to DataQuick. Median sale prices in Santa Clara, San Mateo, San Francisco, Alameda, Contra Costa, Solano, Marin, Napa and Sonoma counties all increased in the past year, with Napa County seeing the biggest price increase at a 32.6 percent jump. Median prices in that county were at $281,000 in July 2011 and reached $372,500 this July, according to DataQuick.

The highest home prices in the region this summer are in San Francisco with $714,000 listed as the median cost, while the lowest can be found in Solano County at $188,000.

— Bay City News Service

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Article source: http://mv-voice.com/news/show_story.php?id=5969

In the nine-county Bay Area, 8,461 homes were sold last month — a 22.9 percent increase from the same time last year, according to a report by the real estate information service DataQuick.

The average figure for July, based on data recorded since 1988, is 9,371 home sales.

The median price for a new home or condo was $421,000, which was a 1 percent increase from $417,000 in June and a 12.6 percent jump from July 2011.

July’s median price was the highest recorded since it was $447,000 in August 2008.

The increase appears to be connected to a higher share of sales in the mid-to-upper price ranges, according to DataQuick.

Median sale prices in San Francisco, Alameda, Contra Costa, Santa Clara, Solano, Marin, Napa, San Mateo and Sonoma counties all increased in the past year with Napa County seeing the biggest price increase at a 32.6 percent jump.

Median prices in that county were at $281,000 in July 2011 and reached $372,500 this July, according to DataQuick.

The highest home prices in the region this summer were in San Francisco with $714,000 listed as the median cost, while the lowest could be found in Solano County at $188,000.

Article source: http://www.ktvu.com/news/news/local/bay-area-real-estate-prices-highest-nearly-4-years/nRCTy/

(Source: By Rachel Raskin-Zrihen Times-Herald, Vallejo, Calif.) – Solano County homeowners lost about half their property’s value since the housing bubble burst, which, like elsewhere, seriously impacted the area’s economy, experts say.

Four years after the recession hit in December 2007, five Bay Area counties have lost a collective $386 billion in home value, according to the real estate information gathering firm, DataQuick. Among those, Contra Costa County was hit the hardest, followed by Alameda, Santa Clara, San Mateo and San Francisco. There was a wide variation within counties, with some areas hit harder than others, and Solano County was among the hardest hit.

The median Solano County home price in December, 2001 was $355,000, but had fallen to $185,000 by last month, former Solano Association of Realtors president Todd Willis said. The damage was not as bad, although it was still significant, in Napa County, where the median house sold last month for $335,425 compared to $569,450 in December, 2007, Willis said.

The loss in property values resulted in a corresponding loss in property tax revenues for Solano County.

“Overall revenues for the county, basically since the start of 2007, we’ve lost a cumulative $6.6 billion, or 15 percent, in the value of the assessment roll,” Solano County Assessor/Recorder Marc Tonnesen and Assistant Assessor-Recorder Kathy Eodossa said. “That’s about $66 million in property taxes.”

And that translates into deteriorating roads and other quality of life issues, current Solano

Association of Realtors President Paul Winders said.

Solano and Napa counties are by no means alone in this.

The average home in Contra Costa County lost about $343,000 in value; followed by Alameda County with about $291,000. Santa Clara County homes on average lost 245,000 and San Mateo County $222,000, according to DataQuick.

During the boom, home equity loans helped launch small businesses, paid for kitchen remodels, new boats and trucks, vacations, college tuitions and was a kind of security blanket for those nearing retirement. Those have essentially dried up — new bank-originated home equity lines of credit have plunged in the Bay Area by nearly 90 percent — reducing confidence and crushing many of those same businesses. And making matters worse, while the equity went away, the debt remained, further hobbling those who hung on to their homes.

Vallejo’s Vigil Mechanical owner Cam Vigil said his business floundered at the start of the recession, but some strategic adjustments have pulled it through.

“It was bad for a couple years, but we fought through it and we’re doing fine, now,” Vigil said of his heating and air conditioning company. “We started aggressively going after the commercial clients when the residential dried up. We lowered our prices, and our workers are working for less than they ever have before and we’re working mostly out of the area. But last year was a banner year and 2012, looks good.”

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Taxable sales, an indicator of business health and consumer spending power, were down by double digits in most Bay Area cities between 2007 and 2010, the most recent figures the Board of Equalization has available. There has been a recovery since a 2009 low, but some economists say consumer spending has undergone a permanent change.

“Consumer spending is going to be lower going forward for two reasons,” said Jon Havemen, chief economist with the Bay Area Council’s Economic Institute. “Consumers have waked up to the fact that ‘Wow, I need to save for retirement, and not only do I need to save, but I don’t have all this money in my house.”

No one can be sure what changes the new year will bring.

Benicia’s median home sale price continued falling as of last month, for which Willis could offer no explanation, although in Vallejo they seem to have steadily risen since August, he said. There’s good and bad news in this fact, he said.

“This tells me that Solano County is a very affordable place to buy a home now,” Willis said. “I believe that 88 percent of people who live here can afford a home here. The minimum income to qualify for a mortgage here is $24,180. Payment on that, with taxes and insurance, would be $810.”

The news is less positive for existing homeowners, although Willis said he “gets the sense in my daily work, that fewer homes are available and offers are coming in,” which may signal a reversal of fortunes.

“We’re going to see prices stabilize,” said Ken Rosen, chairman at the Fisher Center for Real Estate and Urban Economics at UC Berkeley. “It’s already happening in pockets like Silicon Valley and San Francisco. If you want to buy a house, it’s probably the best time in California in 30 years.”

MediaNews Group’s Pete Carey contributed to this report. Contact staff writer Rachel Raskin-Zrihen at (707) 553-6824 or rzrihen@timesheraldonline.com.

___

?2012 Times-Herald (Vallejo, Calif.)

Visit Times-Herald (Vallejo, Calif.) at www.timesheraldonline.com

Distributed by MCT Information Services

Article source: http://www.loansafe.org/area-still-feeling-effects-of-real-estate-crash

Brokerage abbreviations: CTBT = Cassidy Turley BT Commercial; CCCNKF = Cornish Carey Commercial Newmark Knight Frank; KC = Keegan Coppin/ONCOR International; NBLS = Northbay Leasing Sales; NBPA = North Bay Property Advisors

LEASES

Napa County

2,832sf at 1530 Railroad Ave. (Inglewood Village Business Park), St. Helena; AHPNSH St. Helena, Linda Simmons of Meridian Commercial; Inglewood Village Partners LLC; Linda Simmons; Nov. 3

Marin County

16,400sf at 23 Pimentel Ct., Novato; warehouse; Prima Fleur Botanicals; Linda Zacarin of The Zacharin Co.; Frank Davis; Brian Eisberg, Brian Gleason, David Walwyn and Mike Lieberman of CCCNKF; Dec. 9

5,885sf at 899 Northgate Dr., #500, San Rafael; office; Lifehouse Agency; Brian Eisberg and David Walwyn of CCCNKF; Besphil Co.; Vesa Becam of KC; Dec. 9

5,256sf at 5420 Nave Dr., Novato; retail; Alicia Reid; Sandra Hess and Jerry Suyderhoud of CCCNKF; KG/Nave Drive LLC; North Bay Property Advisors; Dec. 9

3,537sf at 695 De Long Ave., #101, Novato; office; Rosanna Sansone; na; Imperial Contracting; Theo Banks and Jeffrey Wilmore of KC; Nov. 15

2,920sf at 46 Hamilton Dr., #D, E G, Novato; industrial, extension and expansion; Suzanne Daily; na; Alfaman; Theo Banks and Nathan Ballard of KC; Dec. 8

2,270sf at 10 Commercial Blvd, #102, Novato; office; Hired Hands, Inc.; na; Pierpont Investment Trust; Roger Smith of CCCNKF; Dec. 16

1,820sf at 68 Hamilton Dr., Novato; warehouse; Gama; Michael Golden of CTBT; na; David Losk of NBPA; Nov. 15

1,768sf at 1101 Fifth Ave., #270, San Rafael; office; Monahan Parker; Bill Hart of Bradley Commercial Real Estate; Center for Behavior Education; Matt Storms of KC; Nov. 14

1,738sf at 250 Camino Alto, #110, Mill Valley; office; Dr. Bob Christensen; Alisa Belew, Haden Ongaro and Mark Carrington of CCCNKF; Hodge Capital Co.; Mac Cranford and Doug Daigle of CCCNKF; Dec. 16

1,626sf at 6 Hamilton Landing, #210, Novato; office; Hangar 4 Partners; na; Barker Pacific Group; Brian Eisberg, Haden Ongaro and Mark Carrington of CCCNKF; Dec. 16

1,584sf at 67 Galli Dr., Novato; warehouse; Deep Vac Inc.; Rich Little of NBPA; na; Peter Gettner of HL Commercial; Dec. 1

1,475sf at 359 Bel Marin Keys, #22 24, Novato; office; Netshare, Inc.; na; Damner-Wyler Assoc.; Doug Daigle of CCCNKF; Feb. 16, 2011

1,430sf at 181 Third St., #225, San Rafael; office; Burke; Haden Ongaro, Alisa Belew and Mark Carrington of CCCNKF; Epstein; Haden Ongaro, Alisa Belew and Mark Carrington; Dec. 16

1,371sf at 1099 D St., #206, San Rafael; office; 1099 D Street, LLC; na; Dr. Richard Creaghe, DDS; Theo Banks and Nathan Ballard of KC; Nov. 8

1,305sf at 302 Caledonia St., #3, Sausalito; office; Pacific Precious Metals, LLC; Robert Hancock; Pyramid Properties, LLC; Theo Banks and Vesa Becam of KC; Nov. 1

1,200sf of 128 Carlos Dr., San Rafael; warehouse; Moran; Rich Little of NBPA; na; David Losk of NBPA; Dec. 15

1,154sf at 7250 Redwood Blvd. (Woodside Office Center), #355, Novato; office; Barbara Burke; Theo Banks of KC; CA-Woodside Office Center L.P.; Whitney Strotz of CTBT; Nov. 22

1,139sf at 500 Tamal Plaza, #505, Corte Madera; office; Presidio Brands, Inc.; Theo Banks and Vesa Becam of KC; Nine Forty Five Market Corp.; Theo Banks and Vesa Becam; Nov. 15

1,060sf at 324 Bon Air Center, Greenbrae; retail; Fingers Toes; Vesa Becam of KC; Bon Air Development, LP; Vesa Becam; June 7

994sf at 38 Miller Ave., #6, Mill Valley; office; Robert Luster; na; na; Doug Daigle of CCCNKF; Dec. 9

744sf at 24 Professional Ctr. Pkwy., San Rafael; office; Small and Knoesel; Rich Little of NBPA; na; Martin Perlmutter; Dec. 1

740sf at 4000 Bridgeway, #401, Sausalito; office; Medizone; Alisa Belew and Mac Cranford of CCCNKF; 4000 Bridgeway, LLC; Alica Belew and Mac Cranford; Dec. 15

726sf at 4000 Bridgeway, #405, Sausalito; office; 4Parts Design; Alisa Belew and Mac Cranford of CCCNKF; 4000 Bridgeway, LLC; Alisa Belew and Mac Cranford; Dec. 15

420sf at 424 Las Gallinas, San Rafael; retail; Damien Morozumi; Haden Ongaro, Alica Belew and Mark Carrington of CCCNKF; na; Haden Ongaro, Alica Belew and Mark Carrington; Dec. 15

Sonoma County

6,720sf at 2930 Dutton Ave., Santa Rosa; industrial; Manor Development Co.; Rhonda Deringer; Apollo Respiratory Services; Rhonda Deringer and John Rico of KC; Dec. 7

6,640sf at 600 Martin Ave., #110, Rohnert Park; industrial; BSA Vending; Gil Saydah of KC; Arthur Bros. Investment Co., Inc.; Gil Saydah; na

5,840sf at 2400 County Center Dr., #A, Santa Rosa; office; Southpoint Land Commercial; Rich Henderson of CTBT; B. I. Incorporated; Doug Braik of KC; Dec. 5

4,500sf at 1330 Ross St., Petaluma; warehouse/office; Rivas/Carlos; Bryant Moynihan of Nexus Realty Group; na; David Losk of NBPA; Dec. 1

2,640sf at 421 S. Cloverdale Blvd., #B, C D, Cloverdale; office; Penny Faire, LLC; Russ Mayer and Marshall Kelly of KC; Cobalt Polymers; Russ Mayer and Marshall Kelly; March 15

2,592sf at 424 Payran St., Petaluma; industrial; Anthony Jolene Adiego; Chris Castellucci of KC; Myles Ahead Fitness; Chris Castellucci and Dave Peterson of KC; Nov. 2

2,500sf at 300 W. Robles Ave., Santa Rosa; warehouse; Birdsell; Vicki Greenbaum of NBLS; na; David Losk of NBPA; Dec. 1

2,400sf at 3383 Airway Dr., Santa Rosa; Industrial (shop plus self-storage units); Brian Pecore; Kevin Doran of KC; Gary Rasche Trust; Kevin Doran of KC; Oct. 29

2,285sf at 2312 Bethards Dr., #3B, 4 5, Santa Rosa; office, extension; Daniel Sheenagh Carlson; na; John Dodge; Brian White of KC; (March 1, 2012)

1,858sf at 520 Mendocino Ave., #260, Santa Rosa; office; Climate Protection Campaign; Brian Keegan of KC; Parkway Properties 14, LLC; Dave Peterson and Peter Briceño of KC; Nov. 14

1,620sf at 8492 Hwy. 116, #I, Cotati; retail; Jared Suokup; na; Steve Poplar; Jerry Suyderhoud and Berk Jones of CCCNKF; Dec. 13

1,600sf at 122 Wikiup Dr., Santa Rosa; spa; Anderson Schuster; Bill Faherty of KC; Huong (Wendy) Mai; Vicki Greenbaum of NBLS; Feb. 25

1,568sf at 5625 State Farm Dr., #35, Rohnert Park; industrial; Gregory Matthew Nelson; na; New California Land Co.; Brian White of KC; (Jan. 11, 2012)

1,515sf at 750 Stony Point Rd., #A130, Santa Rosa; retail; Spyridon Strouzas; Vicki Greenbaum of Northbay Leasing Sales; Jorge Vasquez-Garcia; Rhonda Deringer and Marshall Kelly of KC; Oct. 24

1,000sf at 3510 Unocal Pl., #100, Santa Rosa; office; Ameriprise Holdings, Inc.; Doug Braik of KC; 3510 Unocal Place Corporation; Sue Lyon of Sleepy Hollow Property Management; Dec. 1

800sf at 311 D St., Santa Rosa; retail; Jennifer Webley; Mac Cranford of CCCNKF; Martin Bramante; Mac Cranford; Dec. 13

750sf at 35 Executive Ave., Rohnert Park; sound studio; Landis; na; David Losk of NBPA; Dec. 1

SALES

Napa County

3.54ac at 5091 St. Helena Hwy. (Old Ren Hen property), Napa; commercial land; Red Hen Properties, LLC; na; Liberty Bank; Bruce Peters of Portofino Realty Advisors; $2.85 million

0.66ac at 219 Rio Del Mar, American Canyon; residential land; Vincent Fung Tierra Buena Properties, LLC; Ken O’Farrell and Ken Bizzell of KC; American River Bank; Chad Mitchell of Chad Mitchell Associates, Inc.; Dec. 14; na

4,500sf (six units) at 2471 Old Sonoma Rd., Napa; multifamily; East O Investors, LLC; David Tipp of Tipp Realty; Voskanian Trust; Pat Ripple of Robert Butler Co.; Nov. 18; $600,000

Solano County

300,897sf (292 units) at 3700 Lyon Rd. (Rolling Oaks), Fairfield; multifamily; N/A Rolling Oaks-88 LP (Nevins Adams Lewbel Schell); na; Continental American Properties and Wafra Investment Advisory Group; William Huberty, Clint Sholl and Malcomb McComb of CB Richard Ellis; $52 million

Sonoma County

52.88ac at 711 Vacherie Way, Healdsburg; vineyard estate; Cunningham-Perini Family Vineyard; na; L.J and D.M. Becnel Trust; na; $8.37 million

33.3ac at 6450 Plum Ranch Rd., Santa Rosa; vineyard estate (Brigden Vineyard); Kari Teran; na; Brigden Family Trust; na; $2.63 million

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Topics: North Bay | Categories: Business Register, Commercial Real Estate, Leases and Sales

Article source: http://www.northbaybusinessjournal.com/46323/leases-and-sales-week-of-january-2-2012/

A total of 263 notices of default were filed for Napa County
homes or condos in the third quarter, compared to 222 in the same
period the year before. It was the largest percentage increase in
nine Bay Area counties. 

However, the number of Napa County homes or condos completing
foreclosure dropped 13 percent, from 131 to 114, quarter over
quarter. 

“Napa County is not going down the tubes,” Susan Archer,
president of the North Bay Association of Realtors (NORBAR),
said. 

Archer attributed the notice of default increase to a backlog of
distressed homes that banks are still processing. 

Typically, a notice of default is filed after a homeowner is 90
days delinquent. But some homeowners might have stopped making
payments six to nine months ago — or more — and only just recently
received a notice, she said. 

Banks haven’t been able to process all the distressed properties
effectively, Archer explained. “Now they’re moving forward, causing
numbers to increase. 

“The (notice of default) jump is probably primarily from Bank of
America getting through of all these issues they’ve inherited from
Countrywide,” said Joe Brasil with Coldwell Banker Brokers of the
Valley. Bank of America purchased subprime mortgage lender
Countrywide Financial in 2008. 

“They’ve done a significant release in the last quarter,” he
noted.

According to DataQuick, the most active beneficiaries statewide
in the foreclosure process last quarter were Bank of America
(14,325), Bank of New York (11,052), and Wells Fargo (9,740).

“I also think notices of default don’t really reflect what’s
happening in the marketplace,” Brasil said. Distressed homeowners
may stave off foreclosure using some kind of work-out plan with the
bank or short sale, for example. Or, “They can pull themselves out
of foreclosure entirely.” 

“People used to want to call it ‘shadow inventory,’ but I think
banks have too much on their plate to process,” Julie Larsen of
Pacific Union International said. “Short sales are difficult,”
requiring multiple contacts with banks, lenders and other financial
institutions. 

Another reason banks are taking longer to process foreclosures
is that it takes time to evaluate the reasons for each individual
home foreclosure, she said. Some people have lost jobs and can’t
afford the mortgage payment. Others can make the payments but are
underwater and simply want to walk away from the home and start
over. 

“The banks (are) trying to muddle through that,” Larsen
said. 

Statewide, after dropping to a three-year low in the second
quarter of this year, the number of California homeowners being
pulled into the foreclosure process snapped back to prior levels
over the last three months, DataQuick reported.

A total of 71,275 notices of default were recorded at county
recorders’ offices during the third quarter. That was up 25.9
percent from 56,633 for the prior three months, and down 14.4
percent from 83,261 in third-quarter 2010, according to
DataQuick.

Last quarter’s NODs, which mark the first step in the formal
foreclosure process, jumped back to levels seen earlier this year
and late last year. Notices peaked in first quarter of 2009 at
135,431.

“Figuring out what’s actually going on when it comes to
foreclosures can be a logistical nightmare,” said John Walsh,
DataQuick president. “In each case there are at least six or seven
different legal entities contending with each other, each with a
different agenda and timeline: The original lender, the homeowner,
the current owner or owners of the loan, the servicing institution,
the outfit doing the actual foreclosing, and the county recorder’s
office.

“The way it looks right now, it’s reasonable to expect default
filings to run at a somewhat higher level than we saw earlier this
year,” Walsh added. “Obviously, some lenders and loan servicers
have begun to plow through their backlogs of delinquent loans more
aggressively.”

Of the state’s larger counties, mortgages were least likely to
go into default in Marin, San Francisco and San Mateo counties. The
probability was highest in Sacramento, Madera and Stanislaus
counties.

Trustees Deeds recorded statewide, or the actual loss of a home
to foreclosure, totaled 38,895 during the third quarter. That was
down 8.4 percent from the prior quarter, and down 14.3 percent year
over year. The all-time peak was 79,511 in third-quarter 2008. The
state’s all-time low was 637 in the second quarter of 2005,
DataQuick reported.

There are 8.7 million houses and condos in the state.

Foreclosure resales accounted for 34.2 percent of all California
resale activity last quarter. Short sales — transactions where the
sale price fell short of what was owed on the property — made up an
estimated 17.8 percent of statewide resale activity last
quarter.

At formal foreclosure auctions held statewide last quarter, an
estimated 29.7 percent of the foreclosed properties were bought by
investors or others who don’t appear to be lender or government
entities. That was up from an estimated 28.3 percent the previous
quarter and up from 22.7 percent a year earlier, according to
DataQuick.

Article source: http://napavalleyregister.com/business/notices-of-default-up-foreclosures-down-in-third-quarter/article_aaf39192-fe0c-11e0-b39d-001cc4c03286.html