Although several major lenders have temporary halted foreclosures, the number of households threatened with losing their homes rose 30 percent in February from last year’s levels. RealtyTrac reported Thursday. Nationwide, nearly 291,000 homes received at least one foreclosure-related notice last month, up 6 percent from January, according to the Irvine, Calif-based company. While foreclosures are [...]
According to several news sources, the most expensive residential listing in California and the United States is the home of Candy Spelling, widow of legendary TV producer Aaron Spelling. It’s the largest house in Los Angeles County. A few statistics: Size 56,500 square feet, slightly bigger than the White House Three Stories [...]
According to an article in the San Francisco Chronicle today, home prices in the Bay Area have dropped dramatically since its peak in spring 2007. Spring 2007, median Bay Area home sale price $720,000 February 2009, median Bay area home sale price $295,000 The large drop in home prices is the result of more than [...]
In order to delay foreclosures and give homeowners more time to deal with their lenders, California has passed a bill to delay the foreclosure proceedings another 90 days beyond the filing of a notice of default. The primary method of foreclosure in California involves what is known as non-judicial foreclosure. This means that court action [...]
I wrote in an earlier blog about the Chinese buying property in the United States because of the bargain prices of our real estate. Along with the Chinese the Russians are also buying American real estate. During the crash in the real estate market in the 1980’s the Japanese came in and bought a tremendous [...]
In order to help the construction industry and sales of newly constructed homes in California, a $10,000 tax credit is now available for reducing California State income tax. The home, either attached or detached, must be a principal residence and have never been occupied. As of March 18, 2009, 1,189 applications have been received. This [...]
While Bullards Bar Lake is not in Nevada County, it is close enough to Nevada City and Grass Valley as to make it a designation for water skiing, house boating and fishing. It’s only 21 miles north of Nevada City off of Highway 49 in the historic gold country. The two closest cities are Nevada [...]
American International Group also well known as AIG, and Countrywide Financial Corporation have sued each other. Countrywide sued AIG’s United Guaranty Indemnity Company for breach of contract in a dispute over insurance losses for subprime mortgage loans now in default. In turn, AIG sued Countrywide last week in a California federal court, contending the lender [...]
Mortgage rates are dropping to near record lows – below 5%. This is in the wake of the Federal Reserve’s decision to buy up Treasury bonds and mortgage securities. Lower rates may help spur home sales, but analysts expect much of the action to come from homeowners seeking to refinance. If you are in the [...]
My house overlooks Scotts Flat Lake and as you can see in the picture above, I get a really beautiful view of the lake . It’s a wonderful experience living above such a body of water, which is constantly changing appearance, either due to wind or other forces of nature. At times I can look out and [...]
