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Henderson / Las Vegas Update
By Stephen Roberts | March 2, 2010
Though it may be hard to believe, many Nevada homeowners are finding themselves in a better position then many people who have lost homes due to foreclosures across the country. Many homeowners are bracing themselves for lenders going after them for the difference between what the bank sold the house for versus what the homeowner owed in the mortgage. In many states, lenders can wait up to five years to file legal action seeking deficiency judgment. In the state of Nevada, lenders have only six months from the date of the trustee sale to file for a court judgment against the homeowner. Due to the recession, many lenders are choosing not to seek a judgment against the homeowners at this time.
There were good sales when it came to single-family homes in the Henderson area in December and January, but the southwest valley led the way when it comes to foreclosures and short sales in the previous month. Sales in the south and southwest were strong, accounting for 37 percent of the total over the past few months. On another hand, it seems as though luxury home sales are increasing. Experts say the market showed a little more life in the months of January and February with an increase in sales from previous months.
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Topics: Henderson Nevada Homes, Las Vegas Nevada Real Estate, Southern Nevada Monthly Economic Update, Summerlin Nevada Real Estate, foreclosures | No Comments »