Up, up and up from June.
NODs increased to 74 from the freakish 14 in June, and still down for the more “normal” 254 in May. NOSs climbed to 154 in July, up from 110 in June and down from the 198 in May. 51 of the NOSs were field by HOAs, the highest number I’ve seen. TDs nearly doubled to the highest level in a year – 119 in July, up from 62 in June and 62 in May. 55 of these TDs (46%) went to third parties, the highest percentage I’ve seen since I started keeping records 5 years ago. The frenzy on the courthouse steps is bidding up prices, and resulting in some very questionable selling prices.
A notable TD was 606 NVA, former home of the Gansta Dairy Queen and a linchpin property for the Tessera project. I’m working on a report on properties in Tessera owned by Northern Nevada Urban Development (who lost 606 as Spanish Springs Investors) and Brown Investments – it isn’t looking good.