Thanks primarily to the Lesser Depression of California’s jobless recovery which continues to drive foreclosures, 34% of all California home resale activity in the third quarter of 2011 can be attributed to real estate owned property (REO) inventory — down a scant 1% from the second quarter but nearly the same as one year earlier. [...]

40% of all California resale activity in the first quarter of 2011 can be attributed to real estate owned (REO) inventory — 3% lower than the same period in 2010. REO resales varied significantly from county to county, from rates as low as 12% in San Francisco County to as high as 61% in Stanislaus [...]

According to a report by Foreclosure Radar, Notices of Default (NODs) in California totaled 31,120 in August 2010. This is a slight increase from 26,671 in July and a roughly 16% decline from NODs recorded one year ago. In the same month, Notices of Trustee’s Sale (NOTS) in California totaled 30,726. This is a minimal [...]

Notices of Default (NODs) in California totaled 25,148 this July. This is a slight decline from 26,421 in June and a roughly 50% decline from NODs recorded one year ago. [For a chart and more information concerning NOD volume in California, see the July 2010 first tuesday article, NODs and Trustee’s Deeds: Grim signs of [...]

Most California homeowners who bought or refinanced after 2001, the super-heated years of the Millennium Boom, are underwater with negative equities. Their family balance sheets are in the red, insolvent. Since then prices have plummeted: the low tier is near bottom and the high tier is descending rapidly as 2011 approaches. Many negative-equity owners are [...]

This article reviews the obligations of the buyer (high bidder) at a trustee’s sale who takes title to a property occupied by a residential tenant, and the notice requirements imposed on the buyer who seeks to terminate the tenant’s right to possession.

Most homeowners who bought or refinanced after 2001 during the superheated years of the Millennium Boom are in precarious financial straits – their homes being underwater with negative equities and their family balance sheets in the red, insolvent.  Since then the economy has crashed and home values plummeted; the low tier is probably near bottom [...]

Most homeowners who bought or refinanced after 2001 during the superheated years of the Millennium Boom are in precarious financial straits – their homes being underwater with negative equities and their family balance sheets are in the red, insolvent.  Since then the economy has crashed and home values have plummeted; the low tier is probably [...]

Notice of Defaults (NODs) recorded in June 2010 totaled 25,790. This is a mixed result due to: a 7% increase from May 2010 (24,162); and a 45% drop from June one year earlier (47,093). [For more information concerning NOD volume in California, see the May 2010 first tuesday article, Decrease in NODS and NOTS May [...]

A digest of recent court cases affecting real estate.