« Real Estate for Military | Home | The Importance of Curb Appeal »
Nevada Leads Nation’s Foreclosures
By Stephen Roberts | August 28, 2009
The state of Nevada leads the nation with the highest residential foreclosure rating in the country at 3.7 percent for the second quarter. Yet oddly enough many would still consider the Henderson and the greater Las Vegas area a seller’s market for many single-family homes.
Even though the prices on many homes have dropped by 40 to 45 percent since the real-estate boom in 2006 we still may see ourselves in a seller’s market for certain single-family homes. Although Nevada may lead the country in foreclosure ratings, many of those foreclosed homes have not yet hit the market, due to the government neighborhood stabilization programs that are renting out houses for up to five years. This results in many sellers of those single-family homes that are on the market to get more than the list price.
Despite the large amount of unemployment and the downed economy, this is still a seller’s market. It may be one of the biggest paradoxes in the history of the Nevada housing market.
For all your Real-Estate needs contact Steve Roberts at 702-739-4392.
Topics: Green Real Estate, Henderson Nevada Homes, Investment, Las Vegas Nevada Real Estate, Mortgage Rates, Southern Nevada Monthly Economic Update, Summerlin Nevada Real Estate, foreclosures | No Comments »