Washoe County Notices of Default, Notices of Sale and Trustees Deed filings for October have been compiled and released by our friends at Ticor Title. October NODs and NOSs fell off significantly from last month – by over 20%.
Not sure if the following is significant, but October marks the first time that the number NODs and NOSs were equivalent. For as far back as the data shows monthly NODs have always exceeded NOSs.
Trustees Deeds continue to climb, hitting a level not seen since July 2009.
Click on the chart below to access the data.
skeptical
Foreclosure fraud scandal and subsequent moratorium. No mystery here. Expect a return to previous numbers when banks perceive a green light to move forward.
Sully
This chart does appear to be showing the NOD’s declining. However you can stop a river from flowing downhill by building a dam. At some point the river will back up and flow over the top.
I wonder if 50 years from now a freshly minted economist going for his PhD will write a dissertation on the Great Recession. In it will be about all the things that were done wrong. Maybe in 60 years he/she will become the FED chairman and decide that neither the Great Depression nor the Great Recession was done right. This time around just end the FED and let the banks fail.
Oh well, It’s my dream so I can do what I want in it. 🙂
skeptical
Also noteworthy is the fact that TD’s are up significantly (almost double) year on year. This is real supply hitting the market. Real people getting kicked out of houses.
Happy Thanksgiving.
MikeZ
The last two months, Sept and Oct show some improvement in the fact that NOD and NOS are now apporoximately equal, versus NOD running 100, 200, 300+ more than NOS every month.
NOD = NOS indicates the volume of distressed inventory isn’t getting worse. I’d like to see NOS >> NOD, that would be a strong sign that a recovery is underway.
MikeZ
ps: Happy Thanksgiving, all.
skeptical
Wolfpack beats Boise St. in Reno! WoooooHoooooo!
Maybe the worst is behind us. Reno has had enough bad news. Time to savor the moment. Well done Wolfpack!
bob_c
yea, lebron never used any college football eligibilty and just think
of the economic impact when he enrolls next year
Sully
If anyone is still interested in real estate, Fannie Mae has published their latest survey. At the bottom you can click “here” and download the .pdf file with charts.
http://www.mortgagenewsdaily.com/11242010_housing_fannie_mae.asp
Rory
You are darn right Skeptical! Maybe Nevada’s improbable comeback win is a sign of better days to come? At least, that’s how I plan to take it.
GO PACK!
KAEPERNICK FOR MAYOR!