foreclosures
« Previous Entries Next Entries »Appraisals Bogged Down by Foreclosures
Friday, January 29th, 2010Las Vegas is a very complex housing market when it comes to appraisals. The high percentage of foreclosures in the Henderson and Las Vegas housing market has driven home prices downward. Foreclosures accounted for 75 percent of Las Vegas home sales throughout much of 2009, reaching into every neighborhood and bringing down home values. Since [...]
December Real Estate Update
Tuesday, January 26th, 2010The month of December was a good one for the real estate market, and will hopefully be a sign of things to come in the near future here in the Henderson and Las Vegas Valley. December ranked in as the second highest month in the year in the sales category. The sale of new homes [...]
Bank of America Expected to Release Homes
Tuesday, January 19th, 2010Bank of America expects to release about 6,000 foreclosed properties into the housing market here in Nevada in 2010. They are going to evenly distribute the releases, releasing about 500 homes per month. This process is part of the so-called “phantom inventory” of foreclosed homes being held by banks. Banks are working out loan modifications [...]
Home Affordable Foreclosure Alternatives Program (HAFA)
Wednesday, December 30th, 2009HAFA is a program in development that is not likely to take effect until April 2010. The HAFA program provides incentives in connection with a short sale or deed-in-lieu of foreclosure used to avoid foreclosure on a loan eligible for modification under the HAMP program. HAFA is part of the Home Affordable Modification Program (HAMP). [...]
Nevada Foreclosure Filings Continue to Fall
Saturday, December 26th, 2009It has been reported that foreclosure filings in Nevada dropped by double digits for the second consecutive month. The filings this past November were 33 percent below what they were in 2008. It is still being questioned whether or not this is a temporary reprieve or if the market is truly turning around. It appears [...]
New-Home Sales Stalled in Las Vegas and Henderson
Wednesday, December 16th, 2009Even though the Las Vegas and Henderson housing market is showing strong signs of recovery, it’s still hurting in many ways. One of those ways is the new housing market. Sales of existing homes in Las Vegas and Henderson strongly rebounded this year and prices appear to be stabilizing. However, in the new-home category, the [...]
November Market Update
Monday, December 14th, 2009Overall in the Henderson and Las Vegas market for November the housing prices remained relatively flat. Single family homes are hitting their seasonal slump around the holiday season, and sales are slowing down. The single family median home price has dropped 24.7 percent from a year ago down to $140,000. Condominium prices have also dropped [...]
Mediation Reduce Foreclosures
Wednesday, December 2nd, 2009Nevada’s new foreclosure mediation program is helping reduce the number of foreclosures here in the Las Vegas and Henderson valley. The program gives homeowners who are being foreclosed upon, the right to seek mediation. Although Nevada is still ranked number one in foreclosures, filings fell twenty six percent from September to October, and four percent [...]
Investors take advantage of Las Vegas Market
Monday, November 16th, 2009Absentee buyers bought an astounding 40.2 percent of all Las Vegas homes in August, the most for any month this decade, including the 39.3 percent in November of 2005 during the housing boom. It is stated that 45 percent of Las Vegas buyers in August used cash to pay for their homes, showing the level [...]
Bad Loans Hurting Las Vegas Banks
Monday, November 9th, 2009There is no doubt that the past year has been a horrible one for Banks in the United States, and Las Vegas area banks are no exception to this fact. The most recent analysis of the troubled-asset ratios of Las Vegas area banks shows that five banks had trouble-asset ratios over 100 percent at the [...]
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