Home prices across the state will continue to drop next year, even as sales, spurred by the low prices on foreclosed properties, will keep rising in 2009, according to a California Assn. of Realtors forecast slated to be released today.
Doubts about the stability of the nation’s financial markets are likely to linger through the middle [...]

In September, there were a total of 8,280 resale homes recorded sold. Foreclosure activity represented 44 percent (3,655 transactions), while there were 4,625 traditional market transactions. Foreclosed transactions represent home owners losing their property to successful individual bidders or the lender of record.
In August 2008, the spilt was 3,295 foreclosed homes and 4,210 traditional transactions, [...]

It drew hundreds of spectators and willing buyers, but it turns out, a recent real-estate auction was a bust. The bank turned down offers from the highest bidders, even though the properties were foreclosures.
There is no reason to believe it was a scam, but there is some evidence that perhaps the banks got really nervous [...]

San Francisco may be 3,000 miles from Wall Street, but the crisis that has engulfed the country’s biggest financial institutions is putting even more pressure on the Bay Area’s real estate market, making it increasingly difficult for home buyers to get credit.
Cheap credit played a dramatic role in fueling the housing boom of the late [...]

LOS ANGELES – Oct. 8, 2008 – The financial squeeze on Americans got tighter over the last decade as housing expenses – everything from mortgage payments and rent, to utilities and insurance – far outpaced the growth in incomes, a new study shows.
Overall, yearly housing costs rose by an average of $5,314, or nearly 65 [...]

Attorney General Terry Goddard announced a multi-state settlement with Countrywide Financial Corp. Monday, relating to the company’s alleged use of deceptive practices in their mortgage lending business.
According to the settlement, Bank of America, which acquired Countrywide Financial on July 1, 2008, agreed to develop a loan modification program for up to 397,000 borrowers nationwide. The [...]

More than 120,000 struggling California homeowners could see their monthly mortgage payments lowered after Bank of America Corp. agreed to provide $3.5 billion in loan and foreclosure relief to settle lawsuits it inherited with its takeover of Countrywide Financial Corp.
The pact stems from cases filed earlier this year by California and other states, alleging Countrywide, [...]

Foreclosure auctions nationwide are attracting throngs of bargain hungry buyers with great deals. From investor property to move in ready homes, there are a wide variety of foreclosures available in today’s slumped housing market. Nearly 400 bank-owned foreclosures will be auctioned by Hudson & Marshall throughout cities in Southern California on October 7th-12th. Buyers will [...]

Tracy Dearman has plenty of long-term perspective on the current real estate downturn. She runs a small San Francisco brokerage that was started by her grandmother on Haight Street more than 50 years ago. “We have seen many cycles in the real estate market, but nothing quite like this,” said Dearman, 46. “Our sales and [...]

Nationally, homes are sitting on the market for an average of 10 months, and home sales and prices continue to drop while the number of foreclosures is still on the rise. But realtors say the Anchorage market it still fairly healthy, especially for homes in the average price range.
As of Sunday, on Alaska Multiple Listings, [...]