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, $200,000 - $300,000

All Listings $100,000 - $200,000 $200,000 - $300,000
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Photo of Listing #180014845

1825 Hawthorne, Reno, NV - $274,900

Residential, Site/stick Built
  • 3 Beds
  • 2 Baths
  • 1,208 SQFT
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All Dolled Up And Ready To Go! This Lovely Home Has It All Extra Large Lot Mature Trees And Single Level Living. The Homes Features Include Spacious Rooms Wood Burning Fire Place, Attached Garage, Cooks Kitchen, And Covered Patio For Your Year Rou...

Greathouse Real Estate
Photo of Listing #180016835

2050 Gridley, Reno, NV - $244,000

Residential, Site/stick Built
  • 3 Beds
  • 2 Baths
  • 1,210 SQFT
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Really Nice Home, Well Maintained , Fully Landscaped With Water System, Fully Fenced. Good Location For Schools. Great Patio With Built In Barbeque. Close To Unr, Tmcc, Downtown And Northwest Park And Pool. Recent Inspection Indicated There Is Som...

Trans-Action Realty 500
Photo of Listing #190000895

1250 Eastlake, Reno, NV - $225,000

Residential, Site/stick Built
  • 3 Beds
  • 2 Baths
  • 1,000 SQFT
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This Potential Home Has Great Bones To It. There Is A Fireplace In The Living Room, 3 Bedrooms, 1.5 Bathrooms And The Home Sits On Over An Acre Of Land. The House Will Need Some Tlc, But It Is In A Great Area And Is The Potential To Be A Perfect H...

Reno/Tahoe Realty Group, LLC
Photo of Listing #190001191

1200 Riverside Drive, Reno, NV - $219,900

Residential, Condo/townhouse
  • 1 Bed
  • 1 Bath
  • 1,304 SQFT
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The Riverside Complex Is The Premier High Rise Condo Living Community In Reno. Locate Along The Picturesque Truckee River With Spectacular Views And Access To Walking Trails. The Floor Plan Is Open And Spacious With Floor To Ceiling Windows That A...

Dickson Realty - Damonte Ranch

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 March 25th, 2019 at 5:11pm PDT.