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Agents from the Federal Bureau of Investigation reportedly planted hidden microphones in and around the San Francisco Bay Area as part of an effort to catch several real estate investors suspected of bid rigging at local foreclosure auctions, according San Francisco’s CBS KPIX 5 and the Daily Caller.

Both reports state that between March 2010 and January 2011, the FBI allegedly placed hidden microphones inside light fixtures, at a bus stop and in other locations around an Oakland courthouse without a warrant to obtain more evidence of fixing foreclosure auctions.

From the Daily Caller report:

One specific place targeted by FBI agents was the Oakland courthouse. They embedded microphones in a bus stop outside the courthouse, hoping to hear incriminating evidence of real estate fraud. Agents also placed mics in the light fixtures just outside the building near the steps. Inside the courthouse, agents put a bugged backpack near one of the statues.

The FBI allegedly planted the hidden mics “under rocks” and “in trees,” according to Jeff Harp, who is a former FBI agent and a KPIX 5 security analyst.
The FBI agents allegedly hid the microphones in the hope that they’d overhear conversations about the alleged bid rigging scheme, and they apparently succeeded in that endeavor because the feds are trying to use surreptitiously obtained recordings as evidence to convict the investors.

But one of the accused investor’s lawyers is trying to get the recordings tossed out because they were obtained without a warrant.

From CBS KPIX 5:

The lawyer for one of the accused real estate investors who will ask the judge to throw out the recordings, told KPIX 5 News that, “Speaking in a public place does not mean that the individual has no reasonable expectation of privacy…private communication in a public place qualifies as a protected ‘oral communication’… and therefore may not be intercepted without judicial authorization.”

Article source: http://www.housingwire.com/articles/37041-fbi-accused-of-planting-hidden-microphones-around-bay-area-to-nab-real-estate-investors

Record highs, once again.

The median price paid for Bay Area homes — single family, condominiums and townhouses — hit a new peak for the nine-county region in April: $686,000, surpassing the prior peak of $665,000 set in June and July of 2007.

The new regional high — up 5.5 percent from March 2016 and up 4 percent from the year before — was only part of the story. According to CoreLogic, the real estate information service, Santa Clara, Alameda and San Francisco counties also set record sale prices: $860,500 in Santa Clara (up 3.7 percent from March 2016), $685,500 in Alameda (up 6.7 percent) and $1,300,000 in San Francisco (up 13 percent).

The $520,000 median price in Contra Costa County was up 3.2 percent month-over-month, while San Mateo County’s $990,000 median represented a 5 percent month-over-month boost.

Across the nine counties, 7,518 homes were sold in April, up 7.7 percent from March, but down 7.3 percent from the year before. April’s year-over-year decline in sales was just the second time in the last 12 months that sales have fallen on a year-over-year basis.

“It’s no surprise that in a month when the San Francisco Bay Area’s median home sale price hit a record high the region also logged a year-over-year decline in sales, which remained well below the long-term average,” said Andrew LePage, research analyst for CoreLogic, which has charted the numbers since 1988. “Low mortgage rates, job growth and other drivers have stoked demand, but the supply of homes for sale — especially in the low-to-middle price ranges — hasn’t kept pace, leaving many would-be buyers struggling with a thin and increasingly expensive inventory.”

Contact Richard Scheinin at 408-920-5069, read his stories at www.mercurynews.com/richard-scheinin and follow him at www.twitter.com/RealEstateRag

Article source: http://www.mercurynews.com/business/ci_29908398/record-high-bay-area-homes-april

Real estate markets are moving toward a “new normal” in the San Francisco Bay area. This is according to the local “feet on the street” stories I hear from top Bay Area Realtors.

Interested in the San Francisco market? Check out these listings

I recently attended a forum for top Bay Area Realtors. The agents were some of the area’s finest covering the area from Lake Tahoe to the east, Santa Rosa to the north, and Carmel to the south, with Silicon Valley to the west. While we cover different regions and have dramatically different markets, we are seeing similar trends.

Our view — despite what you may have heard — is that the Bay Area housing bubble is not bursting. It is changing to what appears to be a “new normal.” Let’s look at the big picture to understand what we believe are the trends driving the current market and how we think they will continue to impact the market in 2016.

1: This is a high-stress market and it will continue

Buying or selling a home is usually prompted by a life event: death, divorce, marriage, relocation, job change and increase or decrease in family. These life events often bring stress and buying or selling a house adds to this stress. Add in the drama of a notably contentious presidential campaign, toss in the uncertainty of the financial markets and then add the pressure of the fast-paced expensive Bay Area market where decisions and offers need to be made quickly.

Check out
more Location Scouts reports on housing-market conditions across the U.S.

Unfortunately, all this is here to stay for a while. Yes, any normal person would be hard-pressed not to feel like they were in a tornado.

2: Low inventory of good homes will continue to drive pricing. However, buyer demand is becoming tempered and more deliberate

Yet another reminder that markets invariably change. While our group of top agents acknowledged the low inventory, they also recognized that buyers were becoming much more selective and deliberate. They look, they think and if they don’t “feel it” they move on. “Who cares if there is an offer date?” “Another day and another home will appear.” “Maybe the home won’t sell and we can buy it for less.” If they don’t see the value they pass.

As a client of mine once said during a previous hot market, “This market is so crazy even a burning house will sell.” Not so any more. Many agents believe sellers are seeing the last days when homes with deficiencies will sell quickly for top dollar. Great homes in great locations, priced fairly and marketed properly are selling. However, we are now beginning to see situations where even these homes only have one offer and sometimes, unfortunately, none.

3: Now more than ever you must play to win

While we don’t believe another downturn is on the horizon, having a Realtor with strategies to address even the slightest of market corrections is critical to success whether you are a buyer or seller. A San Francisco agent in our group told a story of a home with 12 disclosure packets out to potential buyers. When the offer date came his buyer did not make an offer. What happened? The buyer thought the home would sell outside his price range. Sadly for him, the home sold below what he was prepared to spend. The moral to the story is “nothing ventured nothing gained.” We are entering into a shifting market. Don’t be afraid to make an offer.

Finally: The bottom line is we are moving to a ‘new normal’

The “feet on the street” believe that the outlook for the rest of the year remains positive, but moderating, with a continuing but more purposeful demand for Bay area housing.

Article source: http://www.marketwatch.com/story/san-francisco-bay-area-housing-bubble-not-bursting-but-moderating-2016-05-17

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Two men were arrested in the killing of a 34-year-old real estate agent and San Francisco resident, who was gunned down in October on a San Jose street after leaving a bar where he celebrated a career achievement, police said Monday.

The suspects, Nathan Nai Fong Saechao, 19, of Oakland and Manh Do Van Tran, 29, of Hayward, were arrested on suspicion of killing Michael Arcega, said Sgt. Enrique Garcia, a San Jose police spokesman.

Saechao was arrested in Oakland on Thursday and Tran was taken into custody on Sunday in San Jose. Both were booked into Santa Clara County Jail on suspicion of murder.

Arcega was shot Oct. 24 on the 1500 block of Monterey Road in San Jose and died at the scene, police said. A motive for the slaying was not revealed.

Arcega, who grew up in Hawaii, was a real estate agent at Keller Williams in San Carlos. He had just signed his first real estate listing and had gone out to celebrate. He was shot dead just before 2 a.m. after leaving a Monterey Road bar.

Article source: http://www.sfgate.com/crime/article/2-arrested-in-slaying-of-Bay-Area-real-estate-7513499.php

Vanguard Properties Welcomes Bay Area Real Estate Veteran, Michael Fanelli, as New Sales Director for Healdsburg, CA Office

SAN FRANCISCO , CALIFORNIA (PRWEB) May 14, 2016

The continual growth of Vanguard Properties, the well-known San Francisco Real Estate firm headed by CEO James Nunemacher for almost 30 years, has never been more evident. Today the firm announced the appointment of Michael Fanelli to now act as Sales Director for the team of established Realtors at Vanguard’s Healdsburg office. With more than 20 years of real estate experience, Michael’s cutting-edge, multi-faceted marketing programs and negotiating know-how have resulted in the successful closing of nearly 400 career transactions. In his new role, Michael’s responsibilities shall include training, mentoring and the imparting of his deep industry knowledge as he artfully guides Vanguard agents in today’s marketplace.

“I couldn’t be more delighted than to be aligned with THE most forward-thinking, design driven, technologically advanced, and customer satisfaction-focused real estate brokerage in Northern California,” declared Michael Fanelli. “My aim as Sales Director is to ensure that our real estate professionals are the best trained marketers and savviest negotiators so as to consistently provide the highest standard of care while representing our buyer and seller clients’ needs.”

He has won countless national industry awards and is perennially ranked within the top one percent of all real estate professionals nationwide. Recognized as an expert in the field, Michael is a frequent lecturer on business success strategies and is a guest commentator on KGO radio, offering insights on the Greater San Francisco and Bay Area real estate topics and issues.

A member of San Francisco’s prestigious Olympic Club, Michael is a two-time winner of the San Francisco Pacific Rim Marathon, is a former head coach of the USA National Track Field team, and has been inducted into the San Francisco State University Athletics Hall of Fame.

Grace Lucero, one of Sonoma County’s top producers, will be taking on the role of Director of Investment Sales for Sonoma County and also working closely with the San Francisco Headquarters’ management on developments.

The office is located at 421 Healdsburg Avenue, directly next door to the famed Cousteaux Bakery and two blocks from Healdsburg’s renowned town plaza. The office is in the center of all the shops, restaurants and tasting rooms nearby including the fabulous SHED, the Healdsburg gathering space that is equal parts wine, beer and fermentation bar, restaurant and a high end home supply store.

Vanguard Properties is confident that the cross pollination of their 4 offices in Sonoma County, 4 offices in San Francisco and two offices in Marin County serve San Francisco buyers and sellers looking for property in Wine Country but also promote Healdsburg sellers in getting the “right” exposure in the San Francisco and Marin marketplace.

Vanguard is known for its unique, fresh and exciting approach to marketing homes and many real estate agents in Healdsburg and the surrounding areas are very interested in what Vanguard has to offer in marketing versus their competitors. “Our company takes a different approach to marketing Real Estate and supporting our agents. We work in collaboration to assist our agents and clients to achieve success,” said CEO James Nunemacher.

For the original version on PRWeb visit: http://www.prweb.com/releases/2016/05/prweb13413599.htm

Article source: http://www.pressreleaserocket.net/vanguard-properties-welcomes-bay-area-real-estate-veteran-michael-fanelli-as-new-sales-director-for-healdsburg-ca-office/447336/