Truckee REO Properties
[SinglePic not found] Here is a link to current listings in the Truckee area that have gone through the foreclosure process. These properties are REOs (Real Estate Owned) and they are in possession of the bank. Click on the link to see more details about the properties.
Current Active Short Sales in Truckee
Although Truckee has not been hit too hard with short sales, there are still a few in the area. A short sale is a property that is being sold for less than is owed. The lender agrees to accept less than is owed for the sale. Short sales are often a better route for both the seller and the lender. Click on the link for a list of current active short sales in Truckee.
Foreclosures & REOs in Truckee
Although the Tahoe Truckee area has not been hit too hard with the number of foreclosures, there are some properties in town that are bank owned. The following links are a few of the homes that pull up under “bank-owned” in our MLS. REO means Real Estate Owned and this means the house has already been foreclosed on and is now in possession of the bank.
Glenshire REO
Tahoe Donner REO
Winter Creek REO
Prosser Lakeview Estates REO
Old Greenwood REO
“Mortgaged America” Article
This is an interesting article I found from the American History magazine October 2008 issue. It compares the condition of our country with its mortgages today compared to during the Great Depression. This article shows that homeowners faced with loss of their property today is 1.4% and states that this number “pales in comparison” to the 10% during the Depression. This article also explains that the other potential crisis is the amount of personal equity in homes and the fact that about half of homeowners in the U.S. owe more on their mortgages than their property is currently worth.
