Some Fast Facts on Las Vegas Foreclosure News the last few days.
National Media Reports Foreclosures surge 55%, with more than 272,000 homes received at least one foreclosred related notice in July – one in every 464 US households received a foreclosure filing last month.
California, Florida, Arizona, Nevada, Ohio, Georgia and Michigan had the highest foreclosure rates – foreclosure rates increased in all but eight states.
Fannie Mae is coming to the rescue in some states- they are opening offices in California and Florida to speed up the disposition of 54K foreclosed homes it owns and is weighing sales in bulk
Realty Trac is reporting that foreclosure sales could stabilize nationally by Q-1 of 2009; they also indicated Cape Coral-Fort Meyers are in FL has highest foreclosures, followed by three California cities, with Las Vegas bringing up the rear in fifth place.
The National Association of Realtors reported Thursday that media home prices fell in more than three quarters of U.S. cities in the second quarter. Nevertheless, home sales rose in areas where a market like Las Vegas is flooded with Las Vegas Foreclosures, indicating that borrowers and investors are taking advantage of steep discounts.
Our Analysis for Las Vegas Foreclosures – we think our market has bottomed out in terms of significant price reductions, we are getting numbers of inquiries from investors and investment groups who are starting to purchase larger groups of homes, we are seeing an increase in inquiries from Europe and Canada.
Is there some risk in the market? Absolutely, but risk and reward live together and most builders can’t buy raw land and build homes for what we are selling a significant percentage of Las Vegas Foreclosures for at this moment in time. Call us today and we’ll find you a great deal on a Las Vegas Foreclosure.
