Washoe County foreclosures down 70 percent

Covering a report released yesterday by RealtyTrac, the Reno Gazette-Journal reports that for Washoe County:

  • 3rd-quarter foreclosures are down 70%
  • September foreclosures are down nearly 10 percent compared to August
  • September 2012 foreclosures are down nearly 75 percent compared to September 2011

The RealtyTrac report references state-specific legislation enacted within the past year as affecting the number of foreclosure-related filings. In Nevada’s case, that legislation would be Assembly Bill 284 (AB284). Regular readers of this blog will recall that AB284 went into effect on October 1 last year.

See the RGJ story here: County foreclosures continue to decline
See the RealtyTrac report here: Foreclosure Activity Drops to 5-Year Low in September

Below are the states with the largest annual decreases in foreclosure activity in the third quarter: 

  1. Nevada: 71 percent decrease
  2. Oregon: 63 percent
  3. Utah: 60 percent
  4. Virginia: 34 percent
  5. California: 29 percent
  6. Michigan: 28 percent
  7. Arizona: 23 percent
  8. Colorado: 21 percent
  9. Georgia: 20 percent

source: RealtyTrac

Interestingly, Nevada, Oregon, and California (all on the list above) have recently adopted laws increasing or enforcing lender requirements for foreclosing.

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About Guy Johnson

I am a licensed Nevada REALTOR® (lic.# S.0075262.LLC) living and working in fabulous Reno, Nevada. I cover Reno, Sparks, Incline Village, Carson City, and beyond. Give me a call at 775-722-4011 and I will be happy to assist you with your real estate needs. I'm your Guy!
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2 Responses to Washoe County foreclosures down 70 percent

  1. Pingback: Washoe County foreclosure-related recordings – September 2012 | Reno Real Estate Blog

  2. Very interesting statistics, indeed. I know Utah was facing some steep foreclosure problems especially in the Salt Lake City metro area. It’s good to see these states rebounding. Of course there is still need for realtors Springfield IL and other places across the country, but it’s good to see improvement in these statistics. Thanks for sharing this!

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