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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, $100,000 - $200,000

All Listings Under $100,000 $100,000 - $200,000
$200,000 - $300,000 $300,000 - $400,000 $400,000 - $500,000
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428 Smithridge Park, Reno, NV - $199,900

Residential, Condo/townhouse
  • 2 Beds
  • 2 Baths
  • 1,220 SQFT
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A Lovely 2 Bed, 1.5 Baths Townhouse With A Beautiful Fireplace As The Focal Point Of The Living Room. The Kitchen Has New Counter Tops And New Appliances (not Including The Refrigerator) With Fresh Paint Throughout. Two Stories With The Bedrooms U...

Reno/Tahoe Realty Group, LLC

694 Bud Lake Ln, Reno, NV - $190,500

Residential, Manufactured/modular
  • 3 Beds
  • 2 Baths
  • 1,473 SQFT
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This Is A Great Home With Lots Of Potential In A Quaint Neighborhood! There Is A Sun Room Upon Front Door Entrance That Lets Into The Living Room Area. The Kitchen Is Large And Spacious With An Island In The Middle And A Nice Sized Pantry. There A...

Reno/Tahoe Realty Group, LLC

1422 E 9th Street, Reno, NV - $174,900

Residential, Condo/townhouse
  • 2 Beds
  • 3 Baths
  • 1,472 SQFT
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Super Cute Townhouse With Fresh 2 Toned Paint, New Carpeting & Vinyl, New Appliances, New Light Fixtures, 2 Full Baths And The Ability To Convert Living Space Into A 3rd Bedroom. Location Is Convenient To Multiple Large Employments Facilities Whic...

Dickson Realty - Damonte Ranch

7680 Bluestone Drive, Reno, NV - $144,900

Residential, Condo/townhouse
  • 1 Bed
  • 1 Bath
  • 665 SQFT
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Highly Sought-after Wood Chase Condo. This 1 Bedroom, 1 Bath Townhome Is Located On The Bottom Floor Which Provides Easy Access. The Hoa Features Many Amenities, Club House/rec Room, Gym, Pool, Spa/hot Tub, Partial Utilities, Common Area Maintena...

RE/MAX Realty Affiliates CC
Photo of Listing #180016923

5041 Catalina Dr, Reno, NV - $142,900

Residential, Condo/townhouse
  • 2 Beds
  • 1 Baths
  • 882 SQFT
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This Is A Lovely 2 Bed, 1 Bath Townhouse That Uses Two Stories To Your Advantage. The Living Room And The Kitchen Are On The First Floor With A Beautiful Brick Accent Wall, And The Bedrooms/bath Are On The Second Floor. This Is A Great Townhouse, ...

Reno/Tahoe Realty Group, LLC

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 January 21st, 2019 at 5:41am PST.