Lake Tahoe Foreclosure & REO Specialist

Bank-owned homes, short sales, and HUD properties on both the California and Nevada sides of Lake Tahoe — listed and sold by an agent who works directly with the banks.

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Active Inventory

Foreclosure Listings & Recent Results

My current foreclosure listing plus recent bank-owned and short sale closings, direct from the MLS. Foreclosure inventory moves fast — join the buyer list below to hear about new deals before they hit the market.

Foreclosure · REO 6001 Calico Court, Pollock Pines CA
$223,250
6001 Calico Court, Pollock Pines, CA 95726
3 bd · 2 ba · 1,302 sqft · Half-acre lot · 2 garages
Fix-and-flip or renovation-loan opportunity near Sly Park Recreation Area & Jenkinson Lake. Cash or FHA 203K.
Ask About This Property
HUD Home · Sale Pending 1184 Stockton Ave, South Lake Tahoe CA - HUD home
$485,000
1184 Stockton Ave, South Lake Tahoe, CA 96150
4 bd · 2 ba · 1,560 sqft · Built 1970 · ML#142996
California HUD home in the heart of Tahoe — vaulted ceilings, exposed wood beams, floor-to-ceiling stone fireplace, spacious fenced yard with deck and two storage sheds. A diamond in the rough, now pending.
Find Me the Next HUD Deal
Sold · REO 302 Griffin Court, Stateline NV
$699,000
302 Griffin Court, Stateline, NV 89449
4 bd · 2 ba · 1,769 sqft
Bank-owned fixer in Tahoe's ski, lake & gaming corridor, minutes to Heavenly — listed and SOLD as the lowest-priced home on the NV side.
Find Me a Deal Like This
Sold · Short Sale 176 Tahoma Circle A, Stateline NV
$598,000
176 Tahoma Circle A, Stateline, NV 89449
2 bd · 2 ba · 1,140 sqft · 2-car garage
Bank-approved NV short sale in Lake Village, negotiated and SOLD — the seller avoided foreclosure and walked away clean.
Need a Short Sale? Let's Talk
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Buyer Guide

How to Buy an REO (Bank-Owned) Property

An REO is a home the bank took back at foreclosure auction. Banks don't want to hold real estate — which is where the deals are. But the process is different from a normal sale, and the buyers who win are the ones who are prepared.

  1. Get proof of funds or pre-approval first. Banks won't look at an offer without it. Many REOs in rough condition require cash or a renovation loan (FHA 203K / HomeStyle).
  2. Work with an REO agent. Banks use specific listing agents, addenda, and timelines. An agent who handles REO daily knows how each asset manager operates and how to position your offer.
  3. Understand "as-is." Banks rarely make repairs. You can still inspect — and you should — but price your offer for the condition.
  4. Watch for First Look periods. Many REOs (Fannie, Freddie, HUD, some banks) give owner-occupants an exclusive window before investors can bid.
  5. Offer clean and respond fast. Banks value certainty: tight contingencies, realistic closing dates, and quick signatures beat slightly higher but messy offers.
Tahoe tip: REO inventory at the lake is thin and gets multiple offers. Tell me what you're looking for and I'll alert you the moment a bank-owned property is coming to market — often before it's on Zillow.
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Seller & Buyer Guide

How to Short Sale a Property

If you owe more than your home is worth — or you're behind on payments — a short sale lets you sell the home with the bank agreeing to accept less than the loan balance. Done right, it avoids foreclosure and the damage that comes with it.

  1. Talk to a short sale agent early. The sooner we start, the more options you have. Even after a notice of default, there's usually still time.
  2. Build your hardship package. Lenders need a hardship letter, financials, pay stubs, and bank statements showing why you can't continue the payments.
  3. List the home at market value. I price it to attract a real offer the bank will actually approve — too low and the bank rejects it, too high and it sits.
  4. Negotiate with the lender. I submit the offer and package to the bank's loss-mitigation department and push it through their approval process.
  5. Close with the debt settled. In most cases the deficiency is forgiven or settled — confirm specifics with your tax/legal advisor.
Why it beats foreclosure: Less credit damage, you stay in control of the timeline, you may qualify for relocation assistance, and you can often buy again in as little as 2 years vs. 7 after foreclosure. Consultations are free and confidential.
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Buyer Guide

How to Buy a HUD Home

A HUD home is a foreclosed property that had an FHA-insured loan, now owned by the U.S. Department of Housing and Urban Development. They're sold through an online bid process at HUDHomestore.gov — and you must use a HUD-registered agent to bid.

  1. Get pre-approved. FHA, conventional, or cash all work. Homes are sold as-is; some qualify for FHA 203K renovation financing.
  2. Browse HUDHomestore.gov. All available HUD homes are listed there with bid deadlines and property condition reports.
  3. Bid through a HUD-registered broker. Buyers can't bid directly — your offer is placed electronically by a registered agent like me.
  4. Use the Owner-Occupant window. For the first 30 days (15 for uninsured), only owner-occupants, nonprofits, and government buyers can bid — investors are locked out. Huge advantage if you'll live in the home.
  5. Win, inspect, close. HUD accepts the best net bid, you typically have 15 days to inspect, and closing runs 30–60 days.
Did you know? HUD pays the buyer's closing costs up to 3% in many cases, and programs like Good Neighbor Next Door offer 50% off list price for teachers, firefighters, EMTs, and law enforcement. Ask me if you qualify.
Lisa Valentine, Lake Tahoe REO Specialist, Coldwell Banker Select Real Estate
Your Tahoe REO Agent

Lisa Valentine

Coldwell Banker Select Real Estate

I specialize in foreclosures, REO, short sales, and HUD homes across the Lake Tahoe basin — South Lake Tahoe, Stateline, Glenbrook, Truckee, and the surrounding Sierra communities in both California and Nevada. I work directly with banks, asset managers, and HUD as a listing broker, which means my buyers hear about distressed inventory the moment it's coming to market. Whether you're hunting for a deal, facing a tough mortgage situation, or bidding on your first HUD home, I'll walk you through every step.

REO & Foreclosure Listing Specialist HUD-Registered Broker Short Sale Negotiation Licensed in CA & NV CA DRE #01167801 · NV Lic #0143561

📞 775-292-0809  ·  ✉️ lisa@tahoereo.com

Get Deals First

Be First in Line for Tahoe Foreclosure Deals

Foreclosures at the lake sell fast — often with multiple offers in days. Drop your info and you'll get:

  • Instant alerts when a new REO, short sale, or HUD home hits my desk — before the portals
  • A fast response from my team (usually within minutes), any time of day
  • A free, no-pressure strategy call — buying, selling, or exploring a short sale

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