Posts Tagged ‘San Francisco Chronicle’

PostHeaderIcon BANK OWNED (Foreclosures) in the Lake Tahoe / Truckee Region

 Foreclosures in the Truckee-Lake Tahoe Region

Real estate owned (REO) properties seem to be diminishing in the Truckee and North Lake Tahoe (California) areas.  Although new REO listings continued to increase through 2009 with a high of 45 coming on the market during the last quarter, the current listing inventory since the start of 2010 is down by approximately one-third.

According to an article in the San Francisco Chronicle, the government is scheduled to begin a program April 5 encouraging owners and banks to sell some of the homes they have not been able to “successfully modify” as “short sales” (selling for less than what is owed on the property).  If they are successful, it would potentially mean not foreclosing on those properties.  In practice, however, since many banks don’t have the capacity to pursue more of these labor-intensive sales, time will tell whether yet another government backed program will be successful.

To get more information about the current market in Tahoe or new BANK OWNED property coming to the market.  Send me an e-mail or call anytime to Greg@TahoeHomeHunter.com or go to www.TahoeHomeHunter.com.  My cell number is (530) 448-9830.

Happy House Hunting in Tahoe!

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