Trustee Sale Report – Feb 2012: Episode #189

Hello! Welcome to Tod Miller TV. I got the notice of Trustee sale report and I thought I’d have a little fun and go back and see when exactly these NODs were filed, because as you’re probably aware there’s been all this huff about the NODs, notice of Trustee sales, and NODs have stopped, and Notice of Trustee sales is about to follow because you know, it’s a 120 day window. So, I’ve said all along that there’s so many NODs that have been out there for a long time that we still have to get through that this, you know, the fact that since October we’ve had very few NODs filed, that’s not that big of a deal. So what I did was, I pulled the last notice of Trustee sale report which was a 106 pages which meant there were 212 properties on it. And I pulled the first 5 or 6 pages here, and I went in to the recorders. I went back and look when these things actually got filed like when NOD got filed to kinda give us an idea of what’s the log time like from when the/if they stop filing NODs total/totally when would we start running out of properties. So, I just went through here, these are all properties that the notice of Trustee sales were just filed recently, meaning in the last few weeks. All these Notice of Trustee sale dates are early March of 2012. So, we have/that means there’s more inventory coming, alright? There’s hundreds still coming so this stuff we were running out of properties isn’t happening and you’re gonna see why. Okay? ‘Cause remember we’re not supposed to have properties now. We were supposed to be totally out ’cause we’re coming in the spring. Here’s one on Big Horn Creek Street, This Nod is filed in April of 2010. It’s taken 2 years to get through the process. Here’s another one, September of 2011, so that’s a closer one, right? Here’s one on Elle Avenue in Boulder City, this was filed in September of 2011. So, relatively short. Here’s one on Silver Star Street in Henderson. Notice of Trustee sale is gonna be the 2nd of March. But the NOD was filed in July of 2010 so it’s taken almost 2 years to make it to the Trustee sale. Here’s another one in Benevolo Dr in Henderson. The NOD was filed in July of 2011, so it’s taken you know, 8 months or so. Here’s in one in Via Latina St, also in Henderson. It’s going to the Trustee sale the 5th of March. The NOD was filed September of 2009. So it’s taken 2 and a half years from the time the NOD was filed until it hit the street. Here’s another one on Doran Circle. It’s gonna actually the end of this month is when the Trustee sale date is. And this was filed September of this year so that’s more like what we’re use to seeing the closer ones. The very next one down, Evening Canyon Avenue. It’s going to the Trustee sale on the 8th of March. NOD was filed in July of last year, July of 2011. Here’s another one Papreka Way, Papreka. NOD was filed January 27th 2010 it’s taken over 2 year from the time the NOD was filed. And then, the very last one I’ve got was filed, NOD is coming, the notice of Trustee sale’s happening the 6th of March, December 2010. So it’s taken a year and 3 or 4 months. So this thought that NODs would stop, Trustee sales would stop, we’d be out of properties in the spring, totally not gonna happen. I predicted it, I said it wasn’t gonna happen, I never said that AB-284 wasn’t different, wasn’t gonna affect the market, it’s just not gonna affect in the spring. We’re in the spring, it’s getting ready to happen, we’re not running out properties, the fact that there were 200 and something notice of Trustee sales filed, and that the NOD of those are taking up to 2 years, means we still have plenty of time to get through all those NODs. You know, it’ll be interesting to see what happens in 6 months or a year maybe. You know in a year there maybe some issues but th short term, we’re not running out of properties. Inventories down a little I agree with that and this will have some effect it’ll probably choke off some of the properties but the fact that we would run out, certainly not gonna happen. Anyway, I thought I would share those numbers with you. If you wanna prove my numbers, go on. It’s all public information. Look at when the Trustee sale is being done. And look at when the NODs were file. You can go on the Clark County Recorders office and find all the information. So I just thought I would share that with you. You can call it my AB-284 update 5 months later basically. So that is my update and hope to see you on another video. Thanks!