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Posts Tagged ‘bank owned homes reno’

Reno Foreclosures Down, Rents Down, Reno Home Prices Up, Reno Real Estate In a meltup…

A complete melt-up of Reno home prices just in the last few months as AB249 which effectively benched most lender’s from foreclosing¬†has slowed Reno foreclosures to a crawl. We saw a sharp drop from around 600 Reno foreclosures in September to single digits by fall.

Yes… I am concerned about a buildup of shadow inventory on top of the existing shadow inventory.

Investor’s have made a killing in the sub $125,000. SFR range. Reno home prices are up 50 to 100% in less than a year in this price point ¬†and appreciated around 10% a month this last quarter alone¬†in the Reno homes for sale market. I am¬†waving a¬†caution flag¬†for investor’s looking to flip in this price range however¬†as the train may have left the station. It is hard to get them to appraise so that many times an Investor has to buy for cash or add cash to make up the difference of the low appraisal. It is¬†concerning¬†to see this many Investor’s dogpiling into town frankly!

Long term Investor’s and primary Reno home buyer’s are still cool to buy in my opinion as it is still cheaper to buy than rent which of course results in a positive cash flow for most investor’s.¬†Be careful not to get caught in the hype though and use a Reno Realtor and Reno Loan Officer that returns e mails and calls¬†or you are toast getting a fast moving deal.¬†

However; watch out for continued rental declines as the pool of tenant’s has shrunk with people not¬†needing a rental home¬†after losing their home in foreclosure, renter’s becoming buyer’s (cheaper to own than rent) declining¬† jobs and population etc.¬†People that would normally be thrown into the rental pool (after losing their home)¬†can now live for free with no mortgage, taxes HOA dues etc. thanks to AB249. Additionally,¬† many Investor’s rent their homes without paying their mortgage now¬†which means they can reduce rents.

So here’s the deal; the foreclosures in Reno are at such lows that you need to contact me to keep on top of it and I will set you up for auto e mails and you may have to jump on them sometimes the same day and be prepared for yes; multiple offers. Keep in mind Reno Investor’s can be sidelined for around 30 days on many of the bank owned homes in Reno though. You need to watch the back on the market plays as many first time buyer’s can’t come up with the appraisal deficit to buy with only 3.5% down.

So… hope this makes sense and helps, this is Ron Bell, Realtor in Reno, Coldwell Banker Select Group, I can be reached at ronbellrealtor@hotmail.com 775-750-5256.

Oh yeah, not to date myself but I do answer and return calls and e mails :).

Reno Foreclosure List Updated

Below is the Hot Sheet for Foreclosures and Bank Owned Homes in Reno/Sparks.

If you would like to search bank owned homes yourself click: www.renoforeclosures.listingbook.com , sign in and then a login will be emailed to you.  When logged in, click Quick Search and scroll down to select Bank Owned Homes.

This Hot List is FREE, with no catches, Reno, NV Nevada, Sparks, NV Nevada bank owned homes, Reno, NV Nevada foreclosure homes. (The Owner Financing/Lease Option Homes are the next posting)

These are Reno, Sparks Bank owned homes currently in MLS now as of posting. The below content is short and sweet, so if you would like additional pictures or information feel free to email me at ronbellrealtor@hotmail.com or use the search MLS tab at the top of this blog site.

You can follow me on Twitter for Reno foreclosures and Reno bank owned homes at http://twitter.com/renoforeclosure. Blog is www.renohomevoices.com.  We of course don’t charge, capture your info, drip marketing/calls etc. so I would appreciate you using me as your Realtor, I answer calls and e mails promptly and I am extremely experienced (in real estate).

Thanks,

Ron Bell Coldwell Banker Select Reno Nv.

775-750-5256

Price

Address

Area

Total Living Space

Bedrooms #

$50,000.00

11545  Lemmon Drive

Reno-Lemmon Valley

1152

3

$57,800.00

11970  Andes Street

Reno-Stead

1498

3

$59,000.00

1370  Chris Ln.

Reno-Southeast

768

2

$69,800.00

11830  Sitka Street

Reno-Lemmon Valley

1151

3

$69,900.00

649  Stanford Way

Sparks

1164

2

$75,000.00

11625  DEODAR Way

Reno-Lemmon Valley

1508

3

$78,900.00

1606  Laiolo Dr

Reno-Southeast

1040

3

$79,900.00

1388  Butler

Reno-North

1056

3

$84,100.00

15021  Cuprite Street

Reno-Stead

1587

4

$89,900.00

89  E Gault Way

Sparks

1176

3

$89,900.00

185  E Quail Street

Sparks

1300

4

$92,900.00

9735  Meadow Star Drive

Reno-Stead

1276

3

$99,000.00

4531  Aster Drive

Reno-Southeast

1052

3

$99,400.00

2047  K Street

Sparks

936

2

$99,900.00

1912  Greenbrae Drive

Sparks

1760

3

$113,900.00

17160  Posy Lake Court

Reno-Cold Springs

1624

3

$114,900.00

9423  Autumn Leaf Drive

Reno-Stead

1642

4

$115,000.00

1100  4th Street

Sparks

2348

3

$116,900.00

20970  White Rock Drive

Reno-Cold Springs

1468

3

$119,000.00

845  Pyramid Way

Sparks

1551

3

$119,000.00

9795  brightridge Drive

Reno-Stead

1745

3

$119,900.00

7786  Crystal Shores Drive

Reno-Stead

1461

3

$119,900.00

1598  Keystone Avenue

Reno-Old Northwest

1255

3

$120,900.00

12250  Jeppson

Reno-Old South Suburban

988

3

$124,000.00

9626  Canyon Meadows Dr.

Reno-Stead

1642

3

$125,000.00

21140  Mt Lewis Court

Reno-Cold Springs

1287

2

$125,000.00

16200  Fetlock Drive

Reno-Rancho Haven

1320

3

$126,500.00

310  Blue Skies Drive

Sparks-Suburban

1430

3

$128,920.00

6935  Freedom Drive

Sparks-Suburban

1167

2

$129,900.00

780  Glen Vista Drive

Sparks-East

1984

4

$129,900.00

8529  Red Baron Blvd.

Reno-Stead

1515

3

$129,900.00

17660  LITTLE PEAK

Reno-Cold Springs

1624

3

$129,900.00

665  Lyyski Drive

Sparks

1701

3

$130,000.00

35  Desert Spring Circle

Spanish Springs-West

1301

2

$131,900.00

210  SELLS Street

Sparks

1374

3

$134,170.00

7640  Robert Banks

Spanish Springs-West

902

2

$135,000.00

9470  Stoney Creek Way

Reno-Stead

1783

4

$135,000.00

9473  Navajo Ridge Drive

Reno-Stead

2639

4

$138,500.00

497  Gamble

Sparks-East

1692

3

$139,900.00

3657  Hillsdale Court

Sparks-East

1642

3

$139,900.00

4205  Perro Lane

Reno-Donner Springs

1080

2

$139,900.00

10710  Osage Road

Reno-Silver Knolls

1260

3

$141,600.00

2718  Powder

Reno-Old Northwest

1652

3

$144,900.00

8040  Monterey Shores

Reno-Stead

2016

4

$146,900.00

207  White Rose Dr.

Spanish Springs-West

1748

3

$148,000.00

7490  Rembrandt Dr

Sun Valley

1568

4

$148,500.00

25  Rosetta Stone Court

Spanish Springs-West

1590

3

$148,913.00

17884  Valecito Court

Reno-Cold Springs

2320

4

$154,900.00

18318  DUSTIN Court

Reno-Cold Springs

1632

3

$154,900.00

70  Shady View Court

Sparks-Suburban

1542

3

$155,000.00

18264  Oakbrook

Reno-Cold Springs

1792

4

$155,900.00

2850  Judith Lane

Reno-Old Northwest

1344

3

$156,500.00

4290  Lakeside Drive

Reno-Southwest

1475

3

$158,500.00

1672  Spicewood Circle

Reno-Northwest Foothills

1522

3

$158,900.00

360  Ember

Spanish Springs-West

1306

3

$159,900.00

2075  Ives Avenue

Reno-Old Northwest

1210

3

$162,000.00

1580  Prospect Road

Virginia City Highlands

2294

3

$162,600.00

3575  Bryan Street

Reno-Old Northwest

1612

3

$163,350.00

1606  Springhill Drive

Reno-Northwest Foothills

1851

3

$167,500.00

3416  Ridgecrest Drive

Reno-North

1829

4

$167,900.00

2393  Lawry Drive

Spanish Springs-South

1708

3

$169,900.00

2751  Fargo Way

Sparks-East

1800

4

$174,164.00

683  Marracco Drive

Sparks-East

2227

4

$174,200.00

4039  Antinori Drive

Spanish Springs-South

2056

3

$174,900.00

725  Da Vinci Court

Sun Valley

2273

5

$175,000.00

715  Strauss Ct.

Sun Valley

2320

4

$175,900.00

1689  Clover Hill Trail

Reno-Northwest Foothills

2034

3

$179,900.00

5576  Santa Rosa Court

Sparks-Suburban

1428

3

$180,900.00

385  E LINCOLN Way

Sparks

2524

5

$184,900.00

7130  Ishi Point

Reno-Northwest Suburban

1803

3

$185,900.00

4712  Parkpoint

Reno-Hidden Valley

1774

3

$187,500.00

4360  Acadia Way

Reno-Donner Springs

2128

3

$188,500.00

4597  Canyon Ridge Lane

Reno-Northwest Suburban

2161

4

$190,000.00

8015  Fire Opal Lane

Reno-Golden Valley

2358

5

$192,000.00

7119  Discovery Lane

Reno-Golden Valley

1985

4

$194,900.00

9255  Moonset Court

Reno-Stead

2699

4

$194,900.00

4305  Toro Court

Reno-Donner Springs

1926

4

$194,900.00

240  Western Road

Reno-North Valley

2101

4

$209,900.00

7020  Verite Drive

Spanish Springs-South

1898

3

$212,900.00

2015  Applegate

Virginia City Highlands

2408

4

$215,000.00

6574  Fireburst Drive

Spanish Springs-South

2330

4

$219,900.00

305  Renaissance Court

Reno-Northwest Suburban

2341

4

$219,900.00

2108  Hazelcrest Drive

Reno-South Meadows

1430

3

$219,900.00

2741  Albazano Drive

Spanish Springs-South

2779

3

$224,900.00

4131  Black Hills Drive

Spanish Springs-South

2324

4

$229,900.00

12080  Mahogany Circle

Reno-Old South Suburban

2496

4

$234,800.00

3141  Banestone Road

Spanish Springs-South

2418

3

$235,900.00

7788  Shalestone Way

Reno-Northwest Foothills

2611

4

$239,900.00

5140  Idlebury

Reno-Northwest Suburban

2272

4

$244,900.00

1480  Corleone Drive

Sparks-Foothills

2001

2

$247,690.00

9560  Cordoba Boulevard

Spanish Springs-East

2292

3

$249,000.00

5060  Ambrose Drive

Reno-West Southwest

1984

3

$249,900.00

10100  Timberwolf Drive

Reno-West Suburban

1452

3

$250,000.00

1768  Braidwood Drive

Sparks-Suburban

2015

4

$254,900.00

3145  Ten Mile Drive

Spanish Springs-South

2203

3

$257,500.00

5460  MONTEGO CT

Reno-Northwest Suburban

2420

5

$260,000.00

6337  N Copper Creek Court

Reno-Southwest

1819

3

$261,500.00

835  N University Park Loop

Reno-North

2305

4

$269,000.00

10810  Santa Fe Road

Reno-Silver Knolls

1904

3

$269,900.00

15615  Fawn Lane

Reno-Southwest Suburban

1758

3

$279,900.00

15500  Cherrywood Dr.

Reno-Southwest Suburban

1697

3

$289,900.00

3181  Ten Mile Drive

Spanish Springs-South

2651

5

$299,900.00

3073  Bramble Drive

Reno-Old Southwest

2309

4

$299,900.00

3725  Thistledown Court

Reno-North

3026

4

$299,900.00

21010  Ames Lane

Pleasant Valley

2128

5

$319,900.00

274  Eucalyptus Court

Reno-West Suburban

2868

4

$328,000.00

15  Sunridge Court West

Reno-Southwest Suburban

3312

3

$330,000.00

855  Serenity Place

Palomino Valley

2472

3

$335,000.00

10675  Solano Court

Reno-South Meadows

3128

4

$335,000.00

3420  Cheechako

Reno-West Southwest

2600

3

$347,900.00

10835  Dancing Aspen Drive

Reno-South Meadows

3374

5

$379,900.00

9465  Cordoba Blvd.

Spanish Springs-East

2990

3

$404,900.00

4850  E Creek Ridge Trail

Reno-West Southwest

3396

5

$410,000.00

1780  Laurel Ridge Ct.

Reno-Northwest Foothills

3050

3

$429,900.00

3355  Bacon Rind

Palomino Valley

2517

4

$445,900.00

12620  Silver Wolf

Reno-South Suburban

3104

4

$465,000.00

1760  Laurel Ridge Ct.

Reno-Northwest Foothills

3350

4

$599,900.00

10300  Rainmaker Court

Reno-South Suburban

3484

4

$619,000.00

12050  Thomas Creek Road

Reno-Old South Suburban

3370

4

$649,900.00

2685  Lakeridge Shores W

Reno-Southwest

5420

4

$999,000.00

1158  Eagle Vista Court

Reno-South Suburban

5359

4

$1,150,000.00

4430  MOUNTAINGATE DR

Reno-West Southwest

6206

5

$1,150,000.00

3432  Nambe

Reno-South Suburban

6485

3