Remember from my July 18, 2009 post “Napa Valley Real Estate, a Tale of Two Times Two Markets“ was the number of distressed sales (in foreclosure, a short sale or a bank owned property, REO) increasing for homes priced $800,000 to $2,000,000, especially up valley. By up valley I mean the Cities of St. Helena, […]
Yountville Weekly Real Estate Update 2/27/2011
Stats for last 7 days new listing 0, price reduced 0, sale pending 1, sold 0 Median prices, average days on market current for sale 26 med price $697,000; avg days on market 194 current sale pendings 3 med price $599,950; avg days on market 131 sold in last 6 months 6 med price $675,000; avg days on market 184 Facts, numbers, square footage from BAREIS and/or Napa County Realist tax records, accuracy is not guaranteed […]
Negative equity rises to 27 percent in Q4 2010
Home values nationwide declined 2.6 percent in the fourth quarter of 2010, the largest quarterly decline since the first quarter of 2009, according to Zillow’s Home Value Index. Year-to-year, the Index declined 5.9 percent. Home values have fallen 27 percent since they peaked in June 2006, according to Zillow’s report. Accelerating home value declines, as […]
Shadow inventory estimated to take four or more years to clear
Although the volume of distressed non-agency residential mortgage properties in the U.S. continues to decline, the pace of moving distressed properties through the foreclosure process continues to slow, according to Standard & Poor’s Ratings Services. S&P currently estimates that the principal balance of these distressed homes amounts to about $450 billion, representing nearly one-third of […]
Home buyer tax credit repayment begins for 2008 buyers
Most home buyers who claimed the federal tax credit of up to $7,500 for buying their first home in 2008 are required to start repaying the credit in 15 annual installments, beginning with their 2010 tax returns. The credit—some form of which was offered for qualified home purchases in 2008, 2009, and 2010—has different repayment […]
California home sales rose, median price fell in January 2011
California home sales rose in January, marking three consecutive monthly increases and posting their highest level since May 2010, while the statewide median price declined to its lowest level since June 2009, according to data C.A.R. “With lower home prices and rates edging up from their historic lows of late last year, prospective home buyers […]
No Place is Immune from the Difficult Economic Times We Are In, Even the Napa Valley as State Regulators Close Charter Oak Bank
Living in the Napa Valley, one can easily become lost in its charm and lose track of all the events that are taking place elsewhere in the United Sates and the world, for it is a true enclave we live in here. As I sit in my office and look outside at the vineyards surrounding Domaine […]
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