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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 $100,000 - $200,000 $200,000 - $300,000
$300,000 - $400,000 $400,000 - $500,000
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215 Quarterhorse Cir, Reno, NV - $200,000

Residential, Site/stick Built
  • 3 Beds
  • 2 Baths
  • 2,426 SQFT
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This Home Has Tons Of Privacy And Is The Perfect Getaway From City Living. Sitting On A Little Over 10 Acres, Take Advantage Of The Peaceful Desertous Landscape. This Home Has A Unique Layout, With A Finished Basement Featuring A Bar Area And Fire...

Reno/Tahoe Realty Group, LLC

4578 Matich Dr., Reno, NV - $179,900

Residential, Condo/townhouse
  • 1 Bed
  • 2 Bath
  • 750 SQFT
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Beautifully Remodeled! This Lovely 1 Bed, 1.5 Bath Townhome Is A Corner Unit Adjacent To The Common Area With A Great View Of The Trees And Creek. The Home Has All New Appliances And Countertops, Fresh Paint, A New Sconce Light, New Ceiling Fans A...

Reno/Tahoe Realty Group, LLC
Photo of Listing #190009669

7680 Bluestone Drive, Reno, NV - $122,900

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

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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 August 20th, 2019 at 2:26am PDT.