The foreclosure front has been extremely slow in our area. There could be a couple of reasons for that and before we go in too deep please remember that Incline Village and Crystal Bay were never real REO or Bank Owned Homes Markets. They did not account for a large percentage of the sales in our area, but we were not immune to them. Many people who buy and sell in our markets are very fortunate. Most of the distressed home market were people who bought at the height of the market when the market was soooooo good and sadly must sell now to make ends meet. These were vacation homes, condos etc. We have had several luxury homes that were distressed in our market too. Right now 456 Ponderosa in Incline Village is one of them. This home started on the market at over $12Million. It boasts over 12 acres and 10,000 soft of living space. WOW! Other factors that are affecting the numbers of REO/Bank Owned Homes on the market are… 1) Banks are finally starting to understand that they will actually save money by helping and participating in short sales, so short sales are now becoming easier to deal with (NOT EASY, but easier) and 2) AB284 has changed the way that banks can foreclosure and forces them to provide a paperwork trail of all transactions leading to their purchase, etc. This has slowed down the foreclosure world in our area tremendously.
Here is the latest update on foreclosures, short sales and other distressed properties in our area. For a complete list of Notice of Defaults and history of these properties click here!
SOLD (Removed from list)
880 Golfers Pass #3, APN 129-340-03, Rec. 1/24/12, Federal Nat’l Mortgage Assoc., 800 Nations Way, Jacksonville, FL 32256 – Sold for $239,000
810 Alder – Incline Manor #62, APN 132-030-62, TS#11-33466-BA-NV, Rec. 2/16/12, FNMA, 135 N. Robles, Ste. 300, Pasadena, CA 91101
NEW NOTICES OF SALE:
866 Northwood – Northwood Est. #30, APN 124-340-30, TS#10-02-2520-NV, NOD Rec. 9/20/11- TRUSTEES SALE POSTPONED UNTIL WED. 5/30/12 AT 11AM
801 Tahoe Blvd. #3, APN 132-270-03, Rec. 12/13/11 - TRUSTEES SALE POSTPONED UNTIL TUES. 3/13/12 AT 11AM
872 Tanager – Pinebrook #28, APN 132-570-11, TS#11-41375-WF-NV, NOD Rec. 8/8/11 - TRUSTEES SALE SCHEDULED ON WED. 3/21/12 AT 11AM
989 Tahoe Blvd – Tahoe Racquet Club #67, APN 127-362-27, TS#3958 & 11-40656-WF-NV, NOD Rec. 8/12/09 & 4/25/11 – TRUSTEES SALE POSTPONED UNTIL THURS. 4/26/12 AT 11AM
771 Randall, APN 125-253-07, TS#10-32338-WA-NV, NOD Rec. 3/30/11– TRUSTEES SALE POSTPONED UNTIL WED. 4/11/12 AT11AM
903 Jennifer, APN 125-361-04, TS#11-40199-WF-NV, NOD Rec. 2/2/11 – TRUSTEES SALE POSTPONED UNTIL FRI. 4/6/12 AT 11AM
635 Alpine View Dr., APN 131-212-12, TS#10-33357-WA-NV, NOD Rec. 12/22/10 – TRUSTEES SALE SCHEDULED ON MON. 3/26/12 AT 11AM
801 Northwood – Incline Manor #10, APN 132-030-10, TS#NV09002968-10-1, NOD Rec. 6/9/10 – TRUSTEE’S SALE POSTPONED UNTIL THURS. 3/8/12 AT 11AM
501 Lakeshore – Lakeshore Terrace #6, APN 122-510-06, TS#128540NV, NOD Rec. 10/1/08 & 11/14/08 – TRUSTEES SALE SCHEDULED ON TUES. 3/13/12 AT 11AM