Owner: California Real Estate News URL:http://californiareal-estate.blogspot.com/ Join Date: Tue, 15 Jan 2008 13:59:07 -0600 Rating:0 Site Description: California Real Estate and Property News Site statistics:Click here
HRJ Capital Closes Its Third Real Estate Fund of Funds 2008-03-03 10:54:00 SAN FRANCISCO--(BUSINESS WIRE)--HRJ Capital announced today the closing of HRJ Global Real Estate
Fund III, its third real estate fund of funds, at USD 155 million in commitments from a diverse group of investors including endowments, foundations, corporate plans, family offices, investment advisors and select high net worth individuals from the U.S., Europe and Asia.HRJ GRE III has made commitments to a diversified portfolio of U.S. and international real estate funds managed by 10 managers across the Global Opportunistic, U.S. Value-Enhanced and Non-U.S. Value-Enhanced real estate investment sectors.
Read more:Funds
Inland real estate industry holds its breath 2008-02-25 05:02:00 Homeowners and buyers in Inland
Southern California will learn next month if they will benefit from new federal guidelines designed to spur house sales and to help people refinance to avert foreclosure.Ironically, this area's fast-falling median home prices could work against the value of the bailout effort long sought by the mortgage and real estate industries.
Read more:holds
, industry
High-end home sales soar in Bay Area 2008-02-20 04:11:00 The Bay Area
's rich are still snapping up high-end properties for record sums. On Friday, a mystery shopper agreed to buy the unfinished penthouse at the Millennium Tower for $11 million. That's $2,288.81 for each of the San Francisco property's 4,800 square feet, a range rarely exceeded even when the space is built out - that is to say, when it actually includes walls and finishes.The buyer, who wasn't identified per the building owner's policy, put down $1 million to begin the escrow process.
The Real Estate Is Now In The Buyer's Hands In California 2008-02-16 11:52:00 he San Francisco Chronicle reports from California
. “Bay Area home sales nosedived to a 20-year low and median prices dropped nearly 10 percent last month. A total of 3,586 new and resale houses and condos traded hands in the nine-county Bay Area in January, down 41.9 percent from a year ago and 29.2 percent from December, according to DataQuick."It’s the first time regional sales have dipped below 4,000 in the 20 years that the La Jolla research firm has tracked the region and the 36th straight month of declines.”
Read more:Buyer
, Estate
, Hands
A major stimulus for the housing industry 2008-02-11 17:15:00 The California Association of Mortgage Brokers called on legislators to pass the bill. While many real estate professionals hope the $168 billion economic stimulus package passed by Congress on Thursday will give the industry
a much-needed boost, others are not as optimistic."This package will help the East Bay," said Ed Jeffry, president of the National Association of Responsible Loan Officers, and a Brentwood loan consultant. "It will stabilize the market. The FHA is the most secure loan in the marketplace from a consumer and bank standpoint."
Auction of Over 200 San Francisco Area Foreclosed Homes 2008-02-05 18:52:00 Hudson & Marshall will auction over 200 bank-owned homes in the San Francisco
area on February 16th at 11:00am and February 17th at 1:00pm at the Hilton Oakland Airport. Winning bidders will be required to make a cash or personal check deposit of 5% of the total sales price and contracts close within 30 days.All properties are sold "as is" and buyers are encouraged to view homes prior to auction during the open house scheduled for February 9-10 from 1:00pm-3:00pm or by contacting listing agents for an appointment.
Read more:Auction
, Homes
, San Francisco
Calif. real estate licenses suffer first drop since '99 2008-02-02 03:39:00 California real estate licenses dropped last month from the year before for the first time since March 1999, ending a 7 ½ upswing in which licensees increased by 81 percent.The California Department of Real Estate reported that the state had 548,959 licensees last month.
Read more:Calif
, suffer
California Foreclosure Defaults Jump 45.4% 2008-01-28 00:13:00 ForeclosureRadar (www.foreclosureradar.com), the only web site that tracks every California
foreclosure with daily updates on foreclosure auctions, issued its monthly California Foreclosure Report today which tracks foreclosure statistics throughout the state.The report from foreclosureradar.com noted a substantial month-to-month 45.4 percent jump in the notices of default (NOD), the initial notice that a homeowner receives once they fail to pay their mortgage.
Read more:Defaults
, Foreclosure
How we cashed in before the housing crash 2008-01-22 04:00:00 Condo prices in the ZIP Code where we owned ours peaked a few months after we got out in 2005, at the median price of $480,000 (almost exactly what we got for our place).But at the time, a lot of people thought we had sold too early. To stay on course, I adopted a personal anthem. It was a Public Enemy song that hit big in 1988 during the previous real estate run-up: "Don't Believe the Hype."
Read more:crash
Marin Modern Real Estate Opens Office in San Rafael California 2008-01-18 09:34:00 Marin Modern
Real Estate
, an independent residential real estate brokerage and leading authority on modern and mid-century modern homes in Marin and San Francisco County, announced the opening of a new office in San Rafael
, California
.Founded by a top-producing REALTOR formerly with Keller Williams Realty, Marin Modern Real Estate
assists buyers and sellers of residential properties in the San Francisco Bay Area. Since the company's inception, Marin Modern Real Estate has garnered both local and national recognition for their in-depth knowledge and experience marketing and selling modern and mid-century modern residential architecture throughout the Bay Area.
Central Valley has two of nation’s weakest real estate markets for 2008 2008-01-15 01:42:00 Two of the nation
’s five weakest residential real estate markets this year are in the CentralValley
, according to Veros Real Estate Solutions, a Santa Ana-based company that sells enterprise risk management and collateral valuation services.Home prices in the Modesto market are predicted to decline 15 percent and the Sacramento/Roseville market is expected to have a 12 percent drop, Veros says.
In California, a Generational Tale of Real Estate Boom and Bankruptcy 2008-03-10 03:47:00 YUBA CITY, Calif. — When George P. Dunmore started his business in Sacramento in the early 1950s, World War II was over and the building boom was on. Over the next several decades his company, Dunmore Construction, along with other respected builders, took the tabula rasa that was California
’s Central Valley and etched it with entire neighborhoods filled with well-built ranch houses on trim lawns.A bankruptcy court in Sacramento is left with the task of untangling a web of transactions, affidavits, property transfers, loans and liens that have come to symbolize the real estate crisis not just for Dunmore Homes, but for an entire industry.
Read more:Estate
, Real Estate
Southern California home prices are now 19% below their peak last year 2008-03-15 13:16:00 Property records show that foreclosures are growing as a proportion of the home sales market. About one-third of SouthernCalifornia
homes sold in February had been foreclosed since January 2007, up from 3.5% of sales a year earlier, according to La Jolla-based research firm DataQuick Information Systems.DataQuick said the median price for a Southern California
home last month was $408,000, down 17.6% from a year earlier and 19.2%, on average, from peaks reached last year. The median price is the price at which half of all homes sold for more and half for less.
Overseas thirst to own property in the Golden State 2008-03-22 15:12:00 Foreigners purchase all types and sizes of properties; however, high-end estates, larger homes and condominiums in upscale areas are especially prized. These buyers also prefer properties that are bright, clean, ready to occupy and on large lots, experts say.Locally, real estate brokers report an influx of buyers from Europe, the Middle East, Asia and Latin America. Specific countries include Brazil, China, France, Germany, Italy, the Netherlands, the Philippines, Russia and Spain, as well as Canada and Mexico.
Read more:Golden
, property
, State
, thirst
Housing woes feed surge in foreclosure advice 2008-03-30 03:36:00 As some real estate agents struggle and mortgage brokers close up shop, one real estate industry is booming: foreclosure advice.You Walk Away, a Carlsbad company that guides homeowners through foreclosure, plans to quintuple its staff to meet demand. HomeFreeMe, a similar company, just launched in San Diego. And a smattering of copycats has popped up ---- Walk Away Smart in Los Angeles and Walk Away Plan in Arizona.
Read more:Housing
Nevada, California and Florida have the highest foreclosure filing rates in the nation 2008-04-07 12:33:00 Foreclosure filings in February are up 60 percent from a year ago. That’s 223,651 homes that received foreclosure filings last month. Nevada
, California
and Florida
have the highest
foreclosure filing rates in the nation
. In the past year, 1,000 Florida homes have been auctioned. Five hundred homes will be auctioned off in Florida next week in one of the largest auctions in history, which will last for six days. Even Miami Dolphins quarterback Dan Marino attempted to auction off his Florida home last month, and Michael Jackson’s Neverland Ranch is in default and scheduled for auction this May.The Senate came to a tentative deal on Wednesday to help homeowners facing foreclosure and buyers who are buying foreclosures. In the biggest gift in U.S. history, the Senate has agreed to give a
State Senate OKs bill to fund real estate fraud units 2008-05-10 15:03:00 Alarmed that real estate fraud
is contributing to California's mortgage foreclosure crisis, the state Senate
voted Thursday to allow counties to increase fees for filing property purchase documents to beef up fraud investigation units
.The bill was supported by Los Angeles County Sheriff Lee Baca and Dist. Atty. Steve Cooley, who are seeing an explosion in the number of fraud cases tied to foreclosures."Real estate fraud, due to the nature of the market, increases in elder abuse and identify theft schemes, is definitely on the rise," Cooley said. "Our case load is at an all-time high."
Read more:State
Jepson Winery For Sale 2008-06-25 17:36:00 Small Califonria winery Jepson Winery
north of Hopland in Mendocino County is back on the market. The Press-Deomocrat reports that the listing comes less than three years after the winery was acquired by an investment group that planned to create high-end estates on the 1,200-acre property. Facing a softening real estate market and tough building restrictions, the investment group opted to sell r
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