« New-Home Sales Stalled in Las Vegas and Henderson | Home | Homebuyers Rush for Tax Credit »
Nevada Foreclosure Filings Continue to Fall
By Stephen Roberts | December 26, 2009
It 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 that the government’s new mediation program that was implemented this past July is having a positive effect on foreclosure ratings. This program is keeping many people in their homes or it is allowing them to short sell their homes, lowering the number of foreclosures in the Las Vegas and Henderson Valley.
If foreclosure rates continue to drop it will be incredibly beneficial to the real estate market here in the Valley. This would allow the inventory of homes to be sold and the prices to stabilize. It does seem very possible that the improvement in the foreclosure rating could help bring this state out of its real estate crisis. We have a long way to go here in Nevada but it seems as though things are beginning to pick themselves up.
For information on purchasing foreclosures in the Henderson/Las Vegas market please visit our website.
For all your Real Estate needs contact Steve Roberts at 702-739-4392.
Topics: Henderson Nevada Homes, Holiday Season, Las Vegas Nevada Real Estate, Southern Nevada Monthly Economic Update, foreclosures | 1 Comment »
July 21st, 2010 at 8:04 pm
[...] The positive drop is being attributed by many to the Nevada Foreclosure Mediation Program, including Channel 8′s LasVegasNow.com ("Nevada No Longer Leads in Foreclosures") and on SEC Realty’s real estate blog. [...]