Even though Realtors who are Incline MLS members are required to identify short sale and bank owned listings, some are slipping through the cracks and the reported number is surely understated. A few phone calls to listing Realtors can verify that fact. So can a little Recorder office document research online. Not all owners communicate well with their agents.
Some listings are presented to the market via the Northern Nevada Multiple Listing Service and are not listed locally in Incline because lenders are robo'ing and do not know who is most effective at marketing Incline property. They simply go to their directory list of registered Brokers for the region, not the area, even if they are located 35 plus miles from the property. It's an imperfect market these days.
If you know the property, I suggest that the best deals are at auction. Pay your Realtor a consulting fee to research the property and to attend the auction. The best deals I have seen lately are purchases at auction with cash or a real loan approval. Often the discount is way below market.
