Washoe County foreclosure-related recordings – June 2012

Below please find the latest Washoe County Foreclosure Statistics provided by our friends at Ticor Title. [Click on the image to enlarge.]

Commentary from June’s report…

Notice of Default (NOD) filings increased a little from May and of course the numbers are still affected by the New Law (AB284) that was effective October 1, 2011. There were some Bank Notices of Default filings but most of the Notice of Defaults were again private beneficiary and local banks/credit unions. As predicted, the slow of Notice of Defaults are also affecting the Notice of Sales (NOS) which decreased significantly in June and may continue to decrease even more in months ahead. Trustee Deeds remained the same compared to May and this again could be contributed AB284 and the Banks working with homeowners in regards to short sales. The new single family residential REO (Bank Owned) listings increased slightly from 62 in May to 97 in June. As mentioned before, inventory in Nevada is down considerably and the real estate community is very concerned about the lack of inventory available in the coming months for the potential buyer. We hope that the Banks will release more inventory and the seller’s who are on the fence, take this opportunity and put their homes on the market.

Related post: Washoe County foreclosure-related recordings – May 2012