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Reno Foreclosures - Reno Bank Owned Properties

Reno foreclosures are a sign of the economic times. Keep in mind the info on this page was written in 2009 and alot of it does not apply to our current market. But it does explain the difference between a short sale and a foreclosure. If you have other questions call me direct at 775-771-1783.

There is a difference between a foreclosure and a short sale. A short sale is where the owner of a home is trying to negotiate with their mortgage company to accept a lesser pay off than the homeowner owes. About 95% of the time we are able to get an acceptable short sale approval letter from the borrowers bank, that basically says the bank will not come after the homeowner for a deficiency. Or in other words the amount the bank is going to have to write off.

A foreclosure is where the bank has gone through the legal process and has taken possession of the property. Now if you write an offer on one of these properties you are negotiating directly with the bank and they want these properties sold and off of their books. They will typically price the home based on what their Reno Realtor is telling them. This will usually be about 3% under the market and if they get a strong offer will give it very strong consideration.

You will see lists posted in the newspapers and on some websites of notice of defaults. This is the early stages of foreclosure and from this point will usually take about 4 months before the bank takes over the property. Once the bank owns the home there are certain agents in this area that represent these banks and will put the homes on the Reno MLS just like any other property. 

Reno Foreclosures

All Listings $200,000 - $300,000 $300,000 - $400,000
$400,000 - $500,000 $700,000 - $800,000
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14825 Corsica, Reno, NV - $719,900

Residential, Site/stick Built
  • 4 Beds
  • 4 Baths
  • 4,410 SQFT
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Located In The Estates At Mt Rose, Just A Half Hour From Lake Tahoe. This Single Level Home Sits On A 1.7 Acre Lot Which Features An In Ground Pool And Beautiful Views. The Master Suite Features A Walk In Closet, Double Sinks, Shower Stall, And Se...

Reno/Tahoe Realty Group, LLC
Photo of Listing #170010510

10680 Solano Court, Reno, NV - $469,900

Residential, Site/stick Built
  • 4 Beds
  • 4 Baths
  • 3,128 SQFT
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This Home Is A Must See! The Master Suite Sits On The Main Floor Just Off Of The Living Room And Has A High Ceiling, Walk In Closet, Double Sinks, Bathtub, Separate Shower Stall, And Backyard Access. The Rest Of The Bedrooms Are On The Second Stor...

Reno/Tahoe Realty Group, LLC

7069 Heatherwood Dr, Reno, NV - $467,900

Residential, Site/stick Built
  • 5 Beds
  • 3 Baths
  • 2,636 SQFT
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Great Location, Floor Plan, And Views From This Large Nw Reno Home. The Oversized .43 Acre Lot Provides Great Privacy. Wonderful City, Valley And Mountain Views To The North And East. Fantastic Floor Plan Features Formal Living/dining, Separate...

Keller Williams Group One Inc.

2936 Fox Trail Dr, Reno, NV - $433,900

Residential, Site/stick Built
  • 4 Beds
  • 3 Baths
  • 2,771 SQFT
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Lovely Northwest Home With Functional Floor Plan, Spacious Yard And No Hoa! This 4 Bed Room Home Features A 2nd Master On The Main Level And Has A Full Bath Just Out Side The Door, The Home Has A Great Room Off The Kitchen And Formal Room Off The...

Greathouse Real Estate

945 Golden West Rd., Reno, NV - $379,900

Residential, Site/stick Built
  • 5 Beds
  • 3 Baths
  • 2,728 SQFT
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This Move In Ready Home Has New Carpet And Vinyl, New Kitchen Appliances, New Furnace, New Interior And Exterior Paint, And A New Tub In Master Bedroom. Conveniently Located In A Quiet Neighborhood But Still Is Close To Shopping, Commuter Streets...

Rustic Realty

1570 Cricketwood Circle, Reno, NV - $375,000

Residential, Site/stick Built
  • 2 Beds
  • 2 Baths
  • 1,834 SQFT
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Del Webb At Somersett, This Home Is The Popular 1834 Floor Plan With Two Bedrooms And Den. Open Kitchen Concept And Full Of Light.

Greathouse Real Estate

275 Gramercy Lane, Reno, NV - $320,000

Residential, Condo/townhouse
  • 3 Beds
  • 3 Baths
  • 1,432 SQFT
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This Charming Townhouse Reminiscent Of The San Francisco Hills Is Located Only A Minutes Walk Away From The Serene Virginia Lake Recreational Area. The Home Comes Complete With A Spacious Attached Garage And Brand New Carpet, Making This Property ...

Reno/Tahoe Realty Group, LLC

10420 San Fernando Road, Reno, NV - $279,500

Residential, Site/stick Built
  • 3 Beds
  • 2 Baths
  • 1,954 SQFT
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Private Location At The End Of A Cul-de-sac With Valley And Mountain Views. One Full Acre, Zoned For Horses. 1954 Sq Ft Of Living Area, 3 Bedrooms, 2 Full Baths And An Attached Two Car Garage. 300 Sq Ft Finished Basement (inc. In Sq Ft) With Separ...

Allison James Estates & Homes
Photo of Listing #170001340

2220 Lousetown Road, Reno, NV - $252,000

Residential, Site/stick Built
  • 3 Beds
  • 3 Baths
  • 3,551 SQFT
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Located In Virginia City Highlands On 1.340 Acres On The Corner Of Lousetown And Agate. Split Level Floor Plan With 3 Bedrooms, 2.5 Baths Plus Additional Loft Area, Living Room, Family Room, Additional Room With Bar, 3 Car Garage. Large Deck Area,...

Dickson Realty - Caughlin

Paying a fee for lists of foreclosures

There are companies out there looking for your money to send you vague and out of date lists of foreclosures. If you are looking at one of these companies I would Google them and look at the problems that some of their customers have had, don't waste your money or time on these services.

If you are working with another agent please contact them and have them show you the homes you choose, if they do not offer this service you might want to re think your strategy. I have been doing this for 27 years in the Reno area and will help you find a home that makes sense for you.

Call me for an immediate response at 1-775-771-1783

The data relating to real estate for sale on this web site comes in part from the BROKER RECIPROCITY Program of the Northern Nevada Regional MLS. Real estate listings held by brokerage firms other than Dickson Realty are marked with the BROKER RECIPROCITY logo or the BROKER RECIPROCITY thumbnail logo and detailed information about them includes the name of the listing brokerage.

The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.

Listing information last updated on September 23rd, 2017 at 12:42pm PDT.