– Belvedere – A unit was just listed “Back on Market” today. 7 units went NOS today, all serviced by Reconstruct, all part of the backlog of pre-foreclosure properties in the pipeline but on hold due to the lien problems. 2 more units bought by what appears to be the original developer as TDs: 7-462-08 for $19,801, and 7-464-11 for $7000 (based on a HOA lien of $6033 against FHA).
– King’s Inn – a new NOS was filed today, after yesterday’s scheduled Trustee’s Sale was once again cancelled. NOSs are only good for 1 year, and this one timed out. I sure hope the Trustee in this sale is working on T&M, or else they are losing their shirt.
– CommRow – Reno City Council approved the new bond deal with DEPFA that allows the sale of the land under the Fitz Garage today, apparently under duress of threatened law suits if they didn’t. Nando took off out of the meeting immediately after like he had eaten bad sushi. Watch the meeting!
– Reno has a live web cam trained on the arch. It is also really fun to track who (if anyone) is climbing the wall at CommRow.
– Washoe Foreclosure Web Site – WOW, and thanks to reader Perry for the tip that this exists. It is really easy to click through and see how the foreclosures turned out. I can track the data back to mid 2009, but not sure exactly what the start date on the data is. My take-away is just how many properties that I tracked in the foreclosure process ( Verdi, Somersett, Old Southwest) never went TD, just disappeared, went short, or went deed in lieu. DILFs are something that no one is tracking.
– 1760 and 1560 Manzanita hit the market for $1.8M and $2.8M. Sure, it’s complicated with other properties involved, but can anyone tell me were the $17M Deed of Trust came from?
– In a weird coincidence, one of the NOSs at the Belvedere is a party that recorded a purchase of a property at a TD today. CW has got the cash to buy and flip, and I can’t really fault the decision to walk on the Belvedere “investment”. Still, if I can track these sort of transactions, why can’t the banks/servicers/agencies/IRS?