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.
|All Listings||Under $100,000||$100,000 - $200,000|
|$200,000 - $300,000||$300,000 - $400,000||$400,000 - $500,000|
17000 Wedge Parkway, Reno, NV - $349,900
All Dolled Up And Ready To Go This Spacious Corner Lot Unit With Views Is Located In Reno’s Premier South Suburban Location, In The Fallen Leaf Community. The 1348 Corner Floor Plan Has So Much To Offer, Including New Interior Paint, New Carpet, ...Greathouse Real Estate
350 Broadway Boulevard, Reno, NV - $254,900
Opportunity Knocks With This Affordable 2 Bedroom 1 Bath Home With An Detached 1 Car Garage Close To Midtown Reno. Highlights Include Hardwood Floors, Living Room With Cozy Fireplace, Spacious Kitchen, Unfinish Basement, And Large Patio.RE/MAX Realty Affiliates CC
3483 Terrace Knoll Ct, Reno, NV - $197,500
2 Bedroom 1 Bath Town Home With Fenced In Court Yard.the Living Area With Ceiling Fan And Large Window To The Fenced Court Yard. Home Features A Separate Dining Area With Built In. Very Functional Galley Style Kitchen With Lots Of Counter Space. T...Realty Professionals
2000 Silverada Blvd., Reno, NV - $178,900
Welcome Home!!! This Great Two Bed, 1 Bath Townhouse Is In A Beautiful Gated Community With Parking Directly In Front Of The Unit. Close To Local Amenities And Shopping. The Interior Was Newly Renovated With Fresh Paint, New Flooring And New Appli...Reno/Tahoe Realty Group, LLC
567 W 4th St, Reno, NV - $65,000
Cozy Condo Unit Located On The 10th Floor! This Secured Building Is Near The Heart Of Downtown, Providing Storage Space On Site, A Gym On The Second Floor, A Pool, Common Laundry, And Designated Parking. Just Minutes Away From The Entertainment, F...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 24th, 2020 at 8:42pm PST.