Las Vegas Foreclosures have been declining over the past few years, and that is great news for the Las Vegas Real Estate Market.
There are only about 450 foreclosures on the market without offers in all of the Las Vegas, North Las Vegas, Henderson area, and that includes houses, condos and town homes. Contrary to what many Las Vegas home buyers think, the banks typically are getting market value for the homes. So the days of offering thousands below on a foreclosure or Las Vegas short sale have pretty much dissolved.
Even the amount of Nevada homeowners that are upside down on their mortgage (negative equity) has dropped down to about 25%, still high for the nation, but no where near what it use to be.
So, it is no surprise that it maybe time to eliminate some of the government funding programs that were in play over the past few years.
Read the full article by DS News at Nevada Lawmakers Recommend Elimination of Foreclosure Mediation Program
If you want to find out if your home is in a “positive equity” position or a “negative” position (underwater, you owe more than it could sell for) give me a call with your address and I can do some research for you and let you know what a buyer may buy your home for in today’s market. There is no cost for this and if you are serious about moving and want me to sell your home let me know that as well and I can even provide you with an estimate of what your take away from the deal may be. You may be able to walk away with a profit now.
I List homes thru out the Las Vegas valley area, covering Southwest Las Vegas, Henderson, Summerlin, Centennial Hills, North Las Vegas, Mountains Edge, Nevada Trails, Green Valley, Providence, Seven Hills, Spring Valley and more.
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Prominent Realty Group, LLC
Phone: (702) 812-4550
Any Stats are on Resale Single Family homes only per the GLVAR MLS as of this writing or as noted,covers the Las Vegas Valley, North Las Vegas, Henderson area or as noted.
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Nevada Foreclosure Mediation Program|Lawmakers Recommend Elimination|Las Vegas Foreclosures