First the foreclosure update for April.  462 NODs were filed, down from 544 in March and 470 in February.  This is the lowest number of  new default filings since February 2008.  514 NOSs were filed, down from 611 in March and 561 in February.  this is the lowest number of filings since February 2010.  There were 350 Trustee’s Deeds recorded, down from 390 in March and up from the 243 in February.  I can’t help but think that things are looking up.

A whopping 61 of the 351 Trustee’s Deeds (17.4%) went to private parties.  This is unprecedented – the investors are trolling the market.  NRES accounted for 23 of these, and Dickson Group 4 – bringing their total up to 10.

NRES is on a buying tear.  My recollection from November is that they had about 20 properties in inventory and their actions since would bring inventory to about 40 now.  Here is a summary of their transactions:

November 2010:  Bought 7, sold 8.

December 2010:  Bought 10, sold 12.

January 2011:  Bought 16, sold 3.

February 2011:  Bought 12, sold 15.

March 2011:  Bought 26, sold 20.

April 2011:  Bought 23, sold 16.

If you feel like geeking out, here are the TDs that were bought by 3rd parties this month:

APN Address $K Owning $K Sold Notes
550-521-09 9267 Running Dog 210 53  
510-322-08 5706 Spanish Bay 328 134 NRES
204-112-34 2768 Montego 411 172  
84-120-24 2200 E I-80 3,900 1,950 VFY
232-446-10 1608 Sawtooth 321 156  
142-321-79 17000 Wedge #211 216 106  
522-473-06 7410 Ambush 298 103  
502-521-06 8275 Opal Glen 402 169 NRES
532-053-06 2343 Garnett Star 298 139 NRES
202-202-02 1409 Mount Grant 376 154 DK
140-392-37 10116 Cascade Falls 323 142  
536-451-17 18287 Skycrest 295 125 NRES
140-572-09 10635 Cedar Bend 368 183 NRES
14-194-19 503 Modoc 157 77  
574-104-05 1622 Satellite 288 128  
524-032-08 3030 Segre 303 155  
36-052-01 703 York 175 77  
534-162-07 7420 Northcreek 287 85  
15-342-19 197 Grove 134 25  
127-120-05 837 Southwood 173 173 NRES
28-231-32 136 York 82 62 NRES
160-582-06 9982 Rio Poco 439 212  
143-061-03 11230 Parma 348 180  
160-911-07 900 South Meadows 4112 223 67  
129-281-01 886 Rosewood 1,145 702 NRES IV
530-572-02 18 Silver Spring 266 122 NRES
510-265-04 5858 Rainier Park 293 150  
28-213-41 310 Galleron 227 64 NRES
9-613-04 3111 Bramble 158 177 NRES
41-571-07 4648 Bradford 314 157 NRES
37-342-20 1101 Bayshore 207 170 NRES
530-393-02 1106 Starling 344 158 NRES
140-542-05 2795 Camella Park 318 181 DK
21-431-01 4750 Sierra Madre 280 105 NRES
516-051-01 1245 Bodega 304 125 DK
9-481-16 3121 Oakshire 65 119  
510-574-08 4801 Bougainvillea 265 84  
550-373-07 9195 Rising Sun 123 93  
550-161-11 9725 Silver Desert 273 88  
532-072-02 2310 Lanstar 341 155 NRES
530-664-10 2278 Albatross 261 102 NRES
27-413-33 1825 Greenbrae 161 71  
152-132-19 2962 Eagle Rock 569 387  
13-116-06 485 Taylor 271 95  
534-382-02 53 Marilyn Mae 346 189  
550-201-08 9770 Brightridge 234 82  
86-620-15 13820 Mount Babcock 193 33  
2-291-02 1325 Coleman 214 75 DK
24-091-09 695 Starlight 93 112  
1-182-12 3812 Bexley 241 130  
516-141-03 5389 Desert Peach 318 120  
520-244-14 6029 Cielo 359 1161  
140-772-01 475 Parade 480 217  
30-361-12 1844 Camelback 251 95  
82-384-04 760 Montgomery 221 26  
3-801-20 480 Preston Burr 217 62 NRES
132-290-10 806 Oriole 327 96 NRES
142-321-30 17000 Wedge 262 99 NRES
86-563-05 13042 Exnite 330 102  
30-672-01 2255 Frisco 321 150 NRES
         

The Siena reopened with a resounding thud this month.  Downtown Makeover has a post with a lot of pictures and an interesting string of comments.  The most recent Yelp review was, shall we sat, not too positive.  I’ve walked through the place twice now, and tend to agree with the reviews.  The jury is still out, and I wish the new ownership the best of luck.

Interested in the Old Siena saga?  The first of what could be numerous trials over the Personal Guarantees issued to the RE Reno Siena investors (later called just a “feel good” document) is about to hit trial.  The Bar-K Investors blog continues to hound the perpetrators of this scam investment..  Would it be out of the question to expect Walter, Barney, Kelly and Bruce to have a koom-bah-yah moment and all  flood the BK courts with filings ahead of this case?  What Bar-K hasn’t erased of the investors contributions in sketchy and/or incompetent real estate investments they sure seem hell bent to spend on attorney fees.  Three quarters of a billion dollars.  All gone.  Amazing.

CommRow ran into roadblocks when the sale of the Fitz garage was finally heard by the Redevelopment Agency.  Massacre according to REreno.  DTM is slightly more gracious.  If the city accepts the deal on the table, they eat $3.5M.  Then out of the blue, a competing offer for the garage came up.  Fernando did not endear himself to anyone by basically threatening the council to approve the deal or CommRow was off the table.  And his estimate of $400,000 in damage and vandalism to the garage since he stopped paying rent and maintaining the garage failed to garner any sympathy.  The 11 May council meeting should be a doozy.

Pinnacle (PNK) has put all the land around Boomtown up for sale.  There are a couple of stray parcels no one really ever knew about.  Interesting to note that the large parcel just north of Cabela’s is NOT included in the offering, though the proposed truck stop site to the west is.  Is something up?

Is retail making a comeback?  TCA properties continues to push forward with their approvals for a 315,000 SF center at Robb and I-80, though it got postponed once again.  For reference, Ridgeview Center with Kohl’s, Safeway, and PetSmart is about 265,000 SF.  A site permit was issued for new retail at 704 S Virginia Street, the former site of the proposed Thoma Lofts.  A $1.5 tenant improvement permit was issued for the space next to Whole Foods.  A $20,000 signage permit was issued for the long empty Dollar Store on Keystone between 4th and 5th, indicating that there is action there.

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