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Las Vegas Valley Foreclosure Numbers Drop in January
By Stephen Roberts | February 19, 2009
Las Vegas Valley home foreclosures declined 20% in January to 2,609 from 3,283 in December. This was still an increase of 48% from January 2008. Valley wide there were 31,416 bank-owned homes in 2008 with some analysts projecting as many as 50,000 foreclosures this year.
Foreclosure.com’s U.S. Foreclosure Index showed a 25% drop nationally as government and lender programs have combined with low interest rates and low housing prices to slow new foreclosures.
Completed foreclosures dropped to 72,694 in January from 97,841 in December, the lowest level since April. Preforeclosures dropped 12 % to 166,860.
With all of the bank owned properties on the market and interest rates at an all time low, now would seem to be the perfect time for first time buyers and investors to jump into the housing market. Henderson, Las Vegas and Summerlin all have an enormous amount of outstanding deals on the market in all price ranges.
If you need any assistance in locating some of the best priced deals on the market give me a call at 702-739-4392.
Topics: Henderson Nevada Homes, Las Vegas Nevada Real Estate, Mortgage Rates, Summerlin Nevada Real Estate, foreclosures | No Comments »