Bay Area home sales mostly up, although prices fall

This article is by Pete Carey at MercuryNews.com.  Happy Leap Year everyone! The market for single-family homes revived in most parts of the South and East Bay in January, propelled by first-time and investor buyers snapping up lower-priced homes, according to a report released Thursday. Alameda County had its best January for single-family home sales…

Foreclosures climbed in January

This article comes from CNNMoney.com NEW YORK (CNNMoney) — Foreclosures picked up in January, yet another sign that the nation’s huge glut of delinquent homes may soon start making their way onto the market. The number of homes hit with a notice of default, auction sale, bank repossession or some other foreclosure filing in January…

Multi-generational housing is a temporary fix for economic woes

This article is from First Tuesday Journal Online This article discusses the short-term trend of multi-generational housing development and the long-term implications of such development within the real estate market. Family-style living As the economy continues to slowly rebound, more families are choosing to consolidate multiple generations under one roof. Now, approximately 20% of Americans…

Rentals: the future of real estate in California?

This article comes from First Tuesday Journal Online This article examines the market factors influencing whether Californians rent or buy in the wake of the Great Recession, and forecasts the effects these factors will have on the housing market. The homeownership rate in California dropped to 55.3% in 2011, continuing a declining trend which began…

Mortgage reports shine rays of hope for housing

This article was written by E. Scott Reckard at LAtimes.com The rate of delinquent home loans is falling as high-risk mortgages from the housing boom are replaced by loans written to the strict standards enforced after the bust. A Mortgage Bankers Assn. report Thursday said that after seasonal adjustments 7.58% of all residential mortgages were…

How to spot signs of a foreclosure scam

This article is written by Lily Leung at UTSanDiego.com Fear and uncertainty filled Daniella Baca after she learned that her landlord was facing foreclosure. Those feelings peaked the day the home was sold, when the single mother of two received what seemed like an official letter offering help and then a warning in capital letters:…

Home buying: Most affordable in decades

This article is by Les Christie at CNNMoney.com NEW YORK (CNNMoney) — Buying a home is now more affordable than it has been in the last twenty years. Thanks to continued declines in home prices and rock-bottom mortgage rates, the National Association of Home Builders/Wells Fargo Housing Opportunity Index hit a record level of affordability.…

Bankruptcy: returning the risk to lenders

This article comes from First Tuesday Journal Online This article reviews the 2005 bankruptcy reform, examines statistical evidence of the effects the reform had on mortgage default rates, and discusses the need for a repeal of bankruptcy reform to build a more stable mortgage and real estate market.  Lenders led the bankruptcy onslaught High numbers…

Here’s to 2012: a first tuesday realty forecast

This article comes from First Tuesday Journal Online This article looks back on the big topics reported on the first tuesday journal in 2011 and forecasts the state of California’s real estate market and economy for 2012 and the years ahead. Glancing back, looking onward A new year summons nostalgia, remembrance. Simultaneously, it beckons prospects…