Please find below the Reno R.E.O.-Reno Bank Owned Homes- Reno Foreclosed Homes in the Reno /Sparks area for this week. The Reno, Sparks Bank Owned Home listings have been decreasing in most areas or remaining stable in just a few others over the past few weeks.  The good (Reno foreclosed/foreclosure homes) have and are getting picked through and the fixers/trashed have been sitting but now are starting to budge as the good ones (Reno foreclosure homes) evaporate rapidly.  Possibly some fixer opportunity on some of them but only for experienced re-modelers.  You need to have them ready to flip by July 15 at the latest to catch the summer rush.  The total Reno Bank Owned Homes-Reno foreclosure homes for this week is 244, down from 287 only a couple weeks ago. 

First time Buyers and California investors continue to duke it out daily via multiple offers sometimes 10 or more in hours when a prefered home/area (under 250K)  hits the mls.  It is 2004 all over again in respects to multiple offers.  You need to have signed offers ready to fax/email out and offer about 2-8% higher in many cases.  Some investors are getting out with some nice 30% + returns who caught this rally early. 

Shop wisely, there are still some hidden traps out there however!  My model has gone from a buy to strong buy (<250K) in about 65% of the areas in Reno.  I still have a hold on a few areas unless it can be bought at 50% off bank prices.  We continue to ramp up to handle the onslaught of Buyer’s and can help you anytime.  We answer and return e mails in a timely manner and know how to deal with the Bank owned foreclosure agents who have hundreds of listings.  This is not my first rodeo, I did a lot of this back in the 80s but on a smaller scale of course.

 

If you have any questions about any properties, please contact me at (775) 750-5256 or ronbellrealtor@hotmail.com

 

 

Sun Valley/ North Reno Area:

Click Here To View Sun Valley & North Reno Listings

 

North Valleys Area:

Click Here To View North Valley’s Listings

 

Northwest, Somersett & Verdi:

Click Here To View Northwest Reno, Somersett & Verdi Listings

 

Southeast Reno, Double Diamond & Damonte Area:

Click Here To View Southeast Reno, Double Diamond & Damonte Listings

 

Sparks to Mustang Ranch, I-80 Area:

Click Here To View Sparks To Mustang Ranch, I-80 Area Listings

 

Sparks Suburban & Spanish Springs Area:

Click Here To View Sparks Suburban & Spanish Springs Area Listings

 

Washoe Valley, Foothills & Virginia City Area:

Click Here To View Washoe Valley, Foothills & Virginia City Listings

 

Southwest & West Reno:

Click Here To View Southwest & West Reno Listings

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