90-Day Delinquencies Fall Again

More evidence that the housing crisis is easing: Fannie Mae said Thursday that delinquencies of 90 days or longer on single-family mortgages declined in July for the fifth-straight month.

The overall delinquency rate fell to 4.82 percent in July, down from 4.99 percent in June. This was a 10-month low.

Source: The Wall Street Journal, Nathan Becker (09/30/2010)

View The States With Highest, Lowest Property Taxes

States With Highest, Lowest Property Taxes
Using U.S. Census data, the nonprofit Tax Foundation has uncovered where the highest property taxes in the country are paid relative to the median value of the homes. Some of the locales may surprise you.

New Jersey came in first — no surprise there — but New Hampshire, which has no state income tax and prides itself on that, had the next-highest real estate taxes as a percentage of home values.

Louisiana had the lowest median taxes compared to property values, another ho-hum finding. But the second-lowest taxes compared to values are in pricey Hawaii.

The national median for real estate taxes is 1.04 percent of a property’s value. Here’s the list of the top 10 states with the highest median real estate taxes as a percentage of median home value as well as the ranking of states with the lowest:

States with the highest taxes:

1. New Jersey (1.89 percent of property value)
2. New Hampshire (1.86 percent)
3. Texas (1.81 percent)
4. (tie) Wisconsin (1.76 percent)
4. (tie) Nebraska (1.76 percent)
6. Illinois (1.73 percent)
7. Connecticut (1.63 percent)
8. Michigan (1.62 percent)
9. Vermont (1.59 percent)
10. North Dakota (1.42 percent)

States with the lowest taxes:

1. Louisiana (0.18 percent)
2. Hawaii (0.26 percent)
3. Alabama (0.33 percent)
4. Delaware (0.43 percent)
5. West Virginia (0.49 percent)
6. South Carolina (0.50 percent)
7. (tie) Arkansas (0.52 percent)
7. (tie) Mississippi (0.52 percent)
9. New Mexico (0.55 percent)
10. Wyoming (0.58 percent)

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Lending Issue Took Over Bank and Freddie Mac Foreclosures in Baltimore

Bank, government and Freddie Mac foreclosures are still big concerns in Baltimore, Maryland. However, such concerns are temporarily put aside as the city prepares for the continuation of its court battle with lender Wells Fargo. The city has been battling the bank in courts for the past two years, with the bank’s lending practices being the primary issue.

Lending Issue Took Over Bank and Freddie Mac Foreclosures in Baltimore According to the city, Wells Fargo is to be blamed for some of the properties that ended up becoming Baltimore distressed homes, particularly those owned by African American residents. The city has accused the bank of discriminating against African American borrowers, asserting that the bank has steered majority of these borrowers into getting predatory mortgages, most of which ended up in foreclosures.

In an effort to help some of the owners of distressed homes in Maryland, the city of Baltimore has been planning to pursue its case and file another complaint against Wells Fargo. The city has until October 22 to launch another legal assault following a judge’s dismissal of the city’s second amended case.

Wells Fargo has reportedly issued a statement following the dismissal of the second case, stating that the economic problems of the city, including the housing market crisis that saw thousands of properties being lost to bank and Freddie Mac foreclosures, should not be blamed on the lender. A spokesperson for the bank has emphasized that the economic downturn experienced by the city is caused by other factors and not just by the small number of mortgage loans issued by the bank.

The bank’s spokesperson further added that the problem of distressed property listing in the city is not merely due to foreclosures conducted by Wells Fargo, but is also the product of unemployment, crime and other socioeconomic issues. Meanwhile, the result of Baltimore’s third attempt will have some implications on the city of Memphis, Tennessee.

This is because Memphis is pursuing an almost similar case against Wells Fargo, with the Tennessee city also accusing the lender of discriminating and misleading African American borrowers. However, the lender is allegedly preparing to use the same argument it used against Baltimore for the Memphis case, asserting that the problem of bank and Freddie Mac foreclosures in both cities cannot be blamed on just one factor.

HR generalist selling in North Oakland, Consider our Oakland properties

Nice homes for sale in Oakland Home. We have two ! Click pictures to find yours

Mary Janaitis has listed for sale the three-bedroom, 1.25.-bath home at 349 42nd St. in North Oakland for $698,000.

Janaitis acquired the property in Jan. 2009. The 1,794-square-foot house was built in 1915. It is located in Temescal subdivision. Deborah Lopez of Paragon Real Estate Group is the listing agent for the home.

Janaitis is a human resources generalist and the founder of MSJ Consulting. She previously served as director of human resources for the Asia Pacific Region of Arthur D. Little, a management consulting firm. She was a program facilitator at NAWBO-SF Bay Area and an interim HR director at Eden Housing Inc.

She received her bachelor’s in English from Cornell University.

According to BlockShopper.com, there have been 463 home sales in North Oakland during the past 12 months, with a median price of $388,000.

Nice two bedroom with large backyard $130,000

Superb live/work loft near Emeryville and I-580, only minutes to downtown Oakland.

Max Weinberg Lists Hollywood Hills Home

Published By : Jill Kipnis on Thursday, Aug 26th, 2010, 3:00 pm

0826Max Max Weinberg Lists Hollywood Hills HomeDrummer Max Weinberg and his wife Rebecca are selling their mid-century home in the Hollywood Hills for $3,399,000, says the Real Estalker.

The house — near Runyon Canyon Park, the celebrity-heavy running and hiking area – was once owned by Stephen Gyllenhaal and Naomi Foner, the now-divorced parents of Jake and Maggie Gyllenhaal. Check out the listing on REALTOR.com®.

Situated behind gates, the house is very intimate with the outdoors, having huge banks of windows and pivoting doors that open to the back yard. There is also a shower outside to go along with the five bedrooms and three baths inside.

Where once the Gyllenhaal-Foner’s had xeriscapic landscaping designed by Jay Griffith, the grounds are now green with lawn under the short-lived Weinberg administration, the Real Estalker points out.

The Weinbergs bought the house in February 2009. They are known to be, the Real Estalker says, “prolific flippers,” having bought and sold many properties for a scant profit.

Weinberg, you’ll remember, was with Bruce Springsteen’s E Street Band from the mid-’70s through parts of the ’90s but he was Conan O’Brien’s band leader on Late Night…. starting in 1993. He followed O’Brien west when he took over The Tonight Show from Jay Leno, only to see O’Brien ousted after a short tenure and Weinberg along with it.

Celebrity Real Estate Quick Hits

Celebrity Real Estate Stories

* Attachmate founder Frank Pritt re-lists his Portabello Estate (photo above) in Corona Del Mar, CA, for $49.5 million — a huge drop from the original list price of $79 million in 2006. [Source: Wall Street Journal’s Private Properties]
* Hollywood couple Scarlett Johansson and Ryan Reynolds bought this modern mid-century home in Los Feliz, CA. [Source: The Real Estalker]
* The “Malibu Party House” sells for $14.9 million to shoe and handbag-design couple Bruce and Kathy Makowsky of Long Island, N.Y. [Source: LA Times Hot Property]
* Actor Liam Neeson’s Central Park West co-op sold for $1.35 million after being on the market for just five days. [Source: Curbed NY]
* MSNBC host Rachel Maddow buys West Village Apartment from REM lead singer Michael Stipe. {Source: Curbed NY]

Mortgage Modification Program Fails – Part 2 from Chris Hayes, Rachel Maddow Shows

Visit msnbc.com for breaking news, world news, and news about the economy

Second watch spotlighting mortgage modification system.

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