Problem loans for residential and land development have placed Granite Community Bank, a small lender in Granite Bay, at risk for failure and seizure by the government, according to regulatory filings and banking analysts. The bank lost more than $5.5…
On Friday, the Sac Bee published Data Quick’s November data for the Sacramento-area single family home market. The most notable data point was the first year over year price increase for existing single family homes in Sacramento County since May 2006. …
Source: “FHA Loans Soar In Sacramento Area”, The Sacramento Bee, October 3 Does anybody doubt that the FHA and Ginnie Mae, which guarantees FHA mortgage backed securities, will need a government bailout just like Fannie and Freddie?
It’s very analagous to what happened with the residential market. Money was cheap, growth was rapid, and we built a lot more product than we needed. – Mark Friedman, a prominent Sacramento commercial developer Good article on the coming commercial…
Click here for larger graphic The overall volume of home sales in the 8-county Sacramento region dropped about 16% from the year ago period while prices were firm month to month. The median sales prices of a home in Sacramento…
According to the Sac Bee, five Sacramento-area T.G.I. Friday’s were closed over the weekend. A sign at the Howe Avenue location in Sacramento on Sunday apologized for “the inconvenience this is causing our valued customers”. The five Sacramento-area T.G.I. Friday’s apparently…
[My clients are] the real Sullivan Group. – Sheila Carroll, a Sacramento attorney representing the Lehmann-Halverstadt Group There is a little dispute going on among a Roseville Investment Advisor called The Sullivan Group. Some members decided to leave Morgan Stanley…
There is a consensus out there that we are at the bottom or pretty darn close. – James Radler, a Roseville based land broker wtih Park Place Land Advisors of Irvine, CA They’re trying to position themselves without anybody knowing….
Source: “Sacramento’s wave of lost jobs hits some harder than others”, The Sacramento Bee, July 14, A1