rise above water
as area prices rise
With home prices steadily rising, thousands of Sacramento homeowners came back above water in the second quarter of 2013, according to online real estate market tracker Zillow.
In a report issued Thursday, Zillow said 31.5 percent of Sacramento-area homes were mortgaged for more than they were worth in the second quarter. That compares to nearly 42percent at the end of 2012.
Zillow predicts that an additional 41,781 local households will regain positive equity in the next 12 months.
Negative equity is receding nationwide, but some markets are still significantly more distressed than Sacramentos. In Las Vegas, for instance, 48.4 percent of homes are in a negative equity situation. In Atlanta, the number is 44 percent.
Many households that have regained equity still dont have enough considered 20 percent to afford selling their house and buying a new one. Zillow said 50.2percent of households in the Sacramento area lack that cushion.
Mary Lynne Vellinga
California grape shipments on hot streak in August
California growers shipped record quantities of grapes in August, with weekly totals of more than 4 million boxes three weeks in a row, according to the Fresno-based California Table Grape Commission.
The crop is moving at what could be a record-setting pace, saidKathleen Nave, president of the commission.
According to USDA data, more than 28 million boxes of California table grapes had been shipped through Aug. 23, 2013. The 2013 year-to-date total is 10percent ahead of last year, when volume also set a record.
Rancho Cordovas ThermoGenesis Corp. reports quarterly loss
Rancho Cordova-based medical equipment firm ThermoGenesis Corp., reported a net loss of $2.4 million, or 14cents per share, in its fourth quarter ended June 30.
The company lost $700,000, or 4 cents a share, in the year-ago period.
The companys net loss for its fiscal year ended June 30 was $3.1million, or 19 cents a share, compared with a loss of $5 million, or 30 cents per share, in the prior year. Net revenue for the year was $18million, down from $19million in 2012.
Just last month, ThermoGenesis announced that it had a merger agreement withLos Angeles-based TotipotentRx Corp., a privately held firm that specializes in developing cell-based therapies in the field of regenerative medicine. Officials said the combined company, based in Rancho Cordova, will be named Cesca Therapeutics.