The number of distressed homes in the Las Vegas Valley has dropped to the lowest level in years according to newly released data. Distressed homes include both foreclosures and short sales. Foreclosures accounted for just 2% of the market last year. That is down from 4% in 2016 and down from a high of 43% […]
Tag Archives: Foreclosure
Average Housing Market a Good Thing
The Nevada Business and Industry Department’s Housing Stability Index gave our market a C grade for the second quarter of this year. That is up from a D+ from the second quarter in 2013. Analysts say that if our market is able to hang out in the C range for the foreseeable future that might […]
North Las Vegas Demolishing Abandoned Homes
North Las Vegas City officials are bulldozing abandoned homes that have become targets for criminal activity and squatters. This is a practice that has become popular in the Rust Belt and officials felt is a necessary step to take in order to eliminate the ugly eyesores of these vacant houses. Asbestos removal and demolition began […]
Delinquency Rates and Foreclosures Down
Nevada ranks second in 90 day plus delinquency rates and 8th in terms of loans in foreclosure. The Mortgage Bankers Association released their first quarter national survey of mortgage delinquency data. From a national perspective, mortgage delinquencies and foreclosures declined during the latest reporting period. New Jersey reported the highest rate of foreclosure starts and loans […]
Nevada Housing Market Continues to Stabilize
Nevada’s housing market continued to show signs of stabilization in January. One of the major signs of that stability is that big institutional investor buying has slowed down to just 6.5% of sales. This is down from 10.7% a year ago. Short sales also slowed down to 13.4% from 22.9% a year ago. Closer to […]
More Good News For Nevada Foreclosure Rates
National foreclosure tracker RealtyTrac.com recently released their first quarter report that indicates foreclosures have been edging up nationwide since April 2012, with 26 states posting increases in foreclosure activity. The good news is, Nevada isn’t one of these 26 state. We were one of the 24 that actually experienced decreasing foreclosure activity. In fact, we […]
Real estate statistics; it’s not always that simple
You might have seen the recently run story on MSN.com, “Housing recovery boom, bust states”. This top 5 list of best and worst states for market recovery awards Nevada the dubious honor of #1 “bust” state. The criteria for rankings on these lists are the number of delinquent mortgages, foreclosures, and the number of mortgages […]
Banks Unfairly Foreclosed On Homeowners
This past week saw several news agencies reporting that as a result of a review of mortgages, several big banks have uncovered hundreds of cases of improperly foreclosed loans. Over 700 active military members lost their homes due to the improper handling of their delinquent loans. According to the Servicemembers Civil Relief Act, lenders cannot […]
Foreclosures on Rise Nationally by Andy Karpf
The number of homes that received first time foreclosures notices rose 7% nationally in March, setting the stage for a surge in the properties being repossessed by lenders this year. This represents the third straight month increase this year and reflects a stepped-up effort by banks to take action against homeowners who fail to keep […]