Drake, Patron Bird Dog of Sierra Canyon.  Protecting the good citizens from Evil HOAs since 2011.

–  New purchase to short sale in 4 months.  I’m sure 15085 Broili has a back story and I am in no way being critical of the owner, who purchased the home for $350,000 on 31 October 2011 with a $359,800 VA loan and just listed for $359,900 as a short sale.  I AM being critical of government loan programs offering 97-103% financing in a declining market.

–  I don’t think I have seen a commercial building sell at a Trustee’s Sale until this week.  The 5128 SF building at 9437 Double Diamond sold for $420,400 on the courthouse steps, after selling for $1,100,000 in January 2009.  Interestingly, the buyer was Arif McAllester LLC, both long term members of what I called the Investors Club when I started tracking TDs almost 4 years ago.

–  You Can”t Buy a House Here – I was checking out the MLS earlier this week for a story, and realized that there are ZERO single family residences listed for sale in the West of Wells neighborhood, aka the Bungalow District.  WOW is slated to merge into the newly proposed Midtown District centered on South Virginia Street between California and Regency.

–  inclinejj and I have a ritual of sharing the week’s Trustee’s Sales data gleaned from the title company sites.  I check LPS and Priority Post (links in the Resources tab) which seems to pick up about 60% of the Washoe sales.  There were 103 this week:  52 were Postponed, 20 were Canceled, 13 went REO, and 18 sold to 3rd Parties.  I have never seen 3rd Party sales outnumber REO sales.  Since it takes 7 to 30 days for these sales to show up on the Recorder’s site, it is an interesting snapshot of what we will be seeing in the next few weeks.

Here are the properties I track that sold this week at Trustee’s Sales to 3rd Parties.  The format is Amount Owing / Opening Bid / Sale Price.  In general, the bigger the difference between the Opening and Sales price, the more bidders were involved.  It is interesting how many of these propertied got bid up.

7553 Gold Mine                               293/97/121

8713 Sunset Breeze                         170/52/61

2215 Novara                                     664/199/242      $648,649 new 1/7/08

110 Lofty View                                 87/28/28

2418 Darby Rose                             289/118/132

6351 Woods Creek                          247/136/141

7055 Peppermint                             191/57/62

264 Thoma                                        386/172/201      7 1/1 apartments

11546 Chesapeake                          263/59/59

17765 Sapphire Canyon                 430/107/118

1671 Fargo                                        131/80/90

614 Sheffield                                    245/69/91

17910 Blue Creek                            305/90/109

10025 Grosse Point                         261/83/103

9090 Alsandair                                 97/78/94

6931 Sacred                                      228/99/132

1124 Waverly                                   399/180/203

1165 Hunter Lake                            271/122/122

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