Reno/Sparks Foreclosure Stats for September 2013

september statsThank you to Ticor Title for the updated Washoe County foreclosure statistics.

You can view the report by clicking on the picture to the right.

Below are some comments.

Whoa Nelly!!! There was a spike in the Notice of Default filings. Almost exactly opposite to the drop before AB284 in September 2011. Of course, this is caused by the implementation of SB321 on October 1, 2013. The banks were trying to get as many filings into the foreclosure mill as they could before they were handcuffed by SB321.

At best, these filings will the hit market as REOs in 9-16 months . Though they could cause an increase in short sales. Probably not enough to affect the market overall.

Expect, the October numbers to drop into the low teens (only 5 recorded as of 10/8/2013).

If you’re looking for an agent to help you buy or sell in Reno or Sparks contact me at (775) 750-1437 or Ricky@Resnv.com

 

 

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