West Region

Seattle area faces bleak real estate forecast

Nov 8th, 2008 | By RT Staff | Category: West Region

There was no denying the Seattle-area’s real estate funk at Williams Marketing’s annual forecast breakfast Friday.
Kicking off the event, Williams President Leslie Williams noted that area real estate professionals were feeling good a year ago about how the market was holding up much better than others.
“Now Seattle’s getting their butt kicked, too,” she said.
Seattle has [...]



Feds probe foreclosure scams

Oct 27th, 2008 | By RT Staff | Category: West Region

The Justice Department is gearing up to probe potential scams targeting distressed homeowners in San Joaquin Valley.
Last week, Rep. Dennis Cardoza, D-Modesto, urged Attorney General Michael Mukasey to investigate mortgage-reduction schemes now being marketed through the Valley. For an upfront fee, homeowners are being told, their monthly mortgage payments can be renegotiated.
At best, the homeowners [...]



Foreclosures: What Each Presidential Candidate Will Do About It

Oct 27th, 2008 | By RT Staff | Category: West Region

One in every 400 homes in Colorado is in foreclosure according to Team Cox Realtors.
It’s an issue every voter is looking into to see which presidential candidate is best for them.
A group of Republican Presidential Candidate John McCain supporters met in Colorado Springs on Sunday to discuss how McCain’s plan will help keep Americans in [...]



San Fernando Valley foreclosures soar, prices slide

Oct 27th, 2008 | By RT Staff | Category: West Region

Foreclosures in the San Fernando Valley ballooned to a record level in the third quarter, pounding down prices but driving a huge jump in September sales, according to a report released today.
Foreclosures soared 203 percent from July through September compared to a year earlier, as 2,589 local families lost their homes in the market collapse, [...]



Denver commercial real estate in top 10 to watch

Oct 23rd, 2008 | By RT Staff | Category: West Region

Denver’s commercial real estate market ranks among the nation’s 10 most promising, despite a gloomy national forecast, according to an annual report released Tuesday by the Urban Land Institute and PricewaterhouseCoopers.
Overall, 2009 is expected to be the worst year for the commercial real estate industry since the 1991-92 industry slowdown, according to the “Emerging Trends [...]



San Diego housing downturn could be approaching bottom

Oct 21st, 2008 | By RT Staff | Category: West Region

An unusual September jump in home sales, together with the biggest monthly drop yet in prices, could be early signs that San Diego County housing is approaching the bottom of a three-year-old downturn, industry experts and observers said yesterday.
MDA DataQuick reported that the median price for all homes dropped $22,000 from August to stand at [...]



Washington State appraiser shares view on housing market

Oct 20th, 2008 | By RT Staff | Category: West Region

Jim Allotta is in a tough industry. His business, Allotta Appraisal Services, has faced some challenges in the past year including a declining housing market and predatory lenders who try to dictate appraisers’ work.
The previously booming housing market brought appraisers who didn’t know much about the process and told lenders what they wanted to hear.
The [...]



Home pricing slump to linger in Utah

Oct 20th, 2008 | By RT Staff | Category: West Region

The American housing market, where the global economic crisis began, has not hit bottom.
Home prices across much of the country and in Utah are likely to fall through at least late 2009, economists say, and in some markets the trend could last even longer depending on the severity of the anticipated recession.
In hard-hit areas such [...]



Cost of renting an apartment in San Diego remains stable

Oct 16th, 2008 | By RT Staff | Category: West Region

While home prices continue to fall, the cost of renting an apartment remains stable in San Diego County, according to a new survey by the research firm RealFacts Inc.
The average monthly cost of renting within complexes of 100 or more units increased less than 1 percent in the third quarter to $1,405, according to a [...]



Bargain hunters snapping up foreclosed Sonoma County homes

Oct 16th, 2008 | By RT Staff | Category: West Region

Home sales doubled in September as bargain hunters grabbed up Sonoma County homes, putting a dent for the first time in the region’s lower-priced properties, according to a new report.
Two out of three homes sold in September were foreclosure properties unloaded by banks or short-sales by homeowners bailing out on mortgages they could no longer [...]