Obviously if you don't investigate anything, then there will be few cases. Mr Jagels, just because you don't see it, then its not a crime? Do some research before you make a statement like that - please!
BY VANESSA GREGORY
Nearly a quarter of Bakersfield homes listed for sale in September were "distressed," meaning they were offered by sellers acting under duress, according to a preliminary copy of The Crabtree Report, authored and released Tuesday by local appraiser Gary Crabtree.
Distressed properties include bank-owned homes, "short sales" where lenders agree to accept less than is due on a mortgage in exchange for skirting foreclosure and homes owned by relocation companies. Properties owned by relocation companies comprised a small portion of the distressed listings, Crabtree said. One in 4.2 residential sales listings in greater Bakersfield met the distressed criteria last month, according to the report.
"That figure is pretty stunning," said John Burns, an Irvine-based new construction consultant with clients in Bakersfield. "It tells you that it's a buyer's market, and you're going to have some distressed sellers here pretty reluctantly lowering prices."
BY GRETCHEN WENNER
Irvine-based SunCal Companies told The Californian Tuesday it is ending its involvement with the proposed Mission Lakes development.
SunCal owns 515 acres of the project, more than a third of its footprint, which spreads northwest from 7th Standard's intersection with the Calloway Canal.
The company last week defaulted on a $74 million loan against the property.