It was two days ago that “ex SF-er” commented: “Rumor alert: Countrywide may be laying off 6,000 to 10,000 employees.” And it was but less than two hours ago that Countrywide announced possible workforce cuts of between 10,000 and 12,000 people over the next three months. The culprit, a... Read More »

“U.S. commercial paper outstanding fell for a third week, dropping 3.1 percent as more investors refuse to buy debt secured by mortgage assets.” “Commercial paper outstanding has fallen by $244.1 billion in the past three weeks as more than 20 companies and funds including Cheyne Finance and Thornburg Mortgage... Read More »

According to a trusted plugged-in tipster, The Montgomery (74 New Montgomery) has switched sales teams (out with Pacific Marketing Associates, in with The Mark Company) two months after their grand opening and first release of condos. If so, it’s likely some insight into the pace of sales (and perhaps... Read More »

“FBR Research said on Wednesday that $150 billion to $250 billion of permanent capital is needed to normalize pricing in the depressed market for mortgage-backed securities. However, in a note to clients, the research arm of securities firm Friedman, Billings, Ramsey & Co Inc said the process would take... Read More »

“Capital One Financial Corp., a credit card and banking company, slashed its earnings forecast on Monday and said it plans to eliminate 1,900 jobs, following its decision to stop arranging mortgages through brokers….The credit card and banking company said it expects to continue to make home loans in its... Read More »

“Westbay Builders has purchased a 25,380-square-foot industrial property at 72 Townsend St. for $9.2 million and plans on developing a nine-story, 74-unit condo building on the site….The project is fully approved and will incorporate a historic one-story warehouse built in 1874 for grain storage. “ (Flynn Properties scores with... Read More »

After almost a month on the market the list price on 4128 24th Street has been reduced $500,000 (14.3%). Yes, this was the former home of Droubi Real Estate. Yes, it’s a Droubi Team listing. And yes, we’re biting our tongues. ∙ Listing: 4128 24th Street (4/2) – $2,995,000... Read More »

No real story other than the symbolic end of an era. (And no, not as in Victorian.) ∙ Listing: 4128 24th Street (4/2) – $3,495,000 ∙ The Droubi Noe Valley Victorian (4128 24th): Coming Soon ∙ Local Brokerage Consolidation: Droubi Acquired By Coldwell Banker Read More »

As a few plugged-in readers pointed out when we first noted the Coldwell Banker acquisition of Droubi Real Estate, the elegant Noe Valley Victorian (4128 24th Street) that served as home to the Droubi team (in one permutation or another) over the past 25 years is “coming soon.” List... Read More »

As an industry tipster notes, after a few weeks of simply redirecting folks to the Coldwell Banker website, the Droubi brand (and website) is back (albeit with a few fewer agents): “Working together as the Droubi Team out of their private office on 24th Street, BJ and Lamisse Droubi,... Read More »