Nevada Pre-Foreclosures and REOs

Because you all seem to like charts so much (and also because charts are a bit easier to post using this new platform), I’d like to share a couple more I received recently.  The first shows REO’s for the state of Nevada broken out by county.  The second shows Pre-foreclosures for the state, again broken out by county.  Both charts also display a neat color-coded map of the U.S., which places Nevada at the highest in the country for “per household” REOs and Pre-foreclosures.  (Data is YTD – December 2007).

For those new to these terms:
Pre-Foreclosure – refers to the period between when a lender has filed a foreclosure suit against the borrower and when the property is finally foreclosed upon.
REO – “Real Estate Owned”. Property which is owned by the lender after an unsuccessful sale at a foreclosure auction.  [see Wikipedia’s definition for more on this topic.]

Nevada Pre-Foreclosures - December 2007 YTD   Nevada REOs - December 2007 YTD

click on the images above to enlarge

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About Guy Johnson

I am a licensed Nevada REALTOR® living and working in Reno, Nevada. Give me a call at 775-722-4011. My team and I will be happy to assist you with your real estate needs.
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9 Responses to Nevada Pre-Foreclosures and REOs

  1. Avatar GreenNV says:

    For the second day in a row, I’ve got serious issues about the quality of(and motivation behind) Ticor’s data, gleaned from Foreclosures.com. I track Trustee’s Deeds (TD) in Washoe on a monthly basis from the County Recorder’s Office data. While Ticor and I are in the same ballpark on the monthly numbers for the beginning and end of the year, their numbers for March – August are WACK. TD’s per the Recorder:

    January – 7
    February – 14
    March – 28
    April – 34
    May – 37
    June – 44
    July – 67
    August – 54
    September – 72
    October – 87
    November – 80
    December – 100
    January 2008 to date – 83!

    Ticor has TD’s steady or declining from a Summer peak. We’re at the bottom! Yeah! In fact, TD’s are rising at a steady, linear pace.

  2. Avatar SkrapGuy says:

    Well said GreenNV. Ticor’s data is sometimes just plain mystical. I’m still waiting for identification of the $9.3 million SFR sale in 89436 that Ticor reported.
    You know, there must be so many multi-million doallar SFR sales in 89436 that this particular one just got lost in the shuffle.

  3. Pingback: Foreclosure

  4. Avatar bassgirl says:

    The RGJ puts these rediculous articles in the paper saying Nevada is #1 in foreclosures. I think Ticor is trying to show that Clark County is the largest in foreclosures instead of Washoe County getting glumped together with Vegas. As we all know, Reno is very different than Vegas. Also, the papers never reflect the per capita issue, they just write we are #1. I think Ticor is just trying to show the differences of Northern Nevada and Southern Nevada as well as our smaller population compared to California or Florida.

  5. Avatar Grand Wazoo says:

    Is it my imagination or did the post regarding 8 On Center just disappear?

  6. Avatar Reno Ignoramus says:

    Grand Wazoo you are not hallucinating. I am quite certain that I posted a comment about the 8 on Center and SoDo4. I am also quite certain that Guy had replied to my comment about whether the listing was a resale or not.

  7. Avatar Dru DuBay says:

    Well I may work for a competing Title but I don’t see a reason to rag on Ticor, after all they have zero involvement with generating these numbers no matter how true or false they are. We actually generate our own weekly foreclosure list at our office by searching county records. Out list is for Washoe county only but as accurate as it could be, had a pretty large number last week.

    Dru

  8. Avatar Reno Ignoramus says:

    Speaking of REO, check out MLS # 70021579. 1803 Laurel Ridge Dr, in Somersett, of course.

    Toll Bros. McMansion. Owned by Bank of New York. 5782 sq. ft. Asking $799,900. That’s $138 a sq. ft.

    Yesterday I commented in the disappearing post about SoDo4 that $476 a sq. ft. seemed a bit rich. And now I discover that we have Toll Bros. McMansions available for $138 sq. ft.

    So what’s the better deal? 336 sq. ft. at $476 a sq. ft. or 5782 sq. ft. at $138 a sq. ft.??

  9. Avatar MIke Van H says:

    Regarding SoDo4, I never got a chance to see the the disappearing comments, but I live right down the street from these projects and think it’s great what HabeRae Investments is doing. They already sold two of those little brick SoDo4 homes. They will be cute when they are restored.

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