Nevada ranks number one again in the percentage of increase in foreclosures.  Foreclosures for the third quarter of the calendar year were up 33.9% from the previous quarter and 212% over the previous year.  I say we are NOT going to come out of this by Spring.  Anybody care to wager?  Just kidding.  Nevada is leading the pack with 1 in every 61 homes in foreclosure.  But, don't think this is an isolated trend.  There were only three (that's 3) states that did not report an increase in forclosures for the same quarters.  Those are Oklahoma, Louisiana and Utah.  Hmmm...Utah's not so bad, and it's not far away...NAH, there's no place like Vegas baby!!!

 

 

5 Comments on Foreclosures!!! I know, they're nothing new, but here are new stats...

NOV
16
2007
Outside Blog Hit Router

Thank you for this article. I am meeting with a couple in my area that are planning to invest in the nevada area. I can get them to list using this information. There are deals to be made in your state now and the future.
12:04am • #1
102,732 Points

Let us know when it gets to the bottom, that will be a buying opportunity.

Take care!

RJH
12:13am • #2
Ah, the bottom...I can't seem to find my crystal ball, but I would speculate that we will round the bend in about 12-14 months.  I could be wrong, but that feels about right... 
12:18am • #3
1,373,553 Points 151 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master
At least when we look at that market we are seeing nice absorption!  The BPOs don't seem to be slowing down one bit.  I think we will be seeing this foreclosure mess for a very very long time, past spring.   The high rise market may be in trouble in about 2-3 years.  That isn't a popular opinion but I do believe it!
8:01am • #4
125,514 Points Outside Blog

Lowell,

I'm due for a Vegas trip. I like to play Texas Holdem over at the Monte Carlo. I love their poker room. I love the truth in posting and that you tell it like the facts give them to you. Those foreclosures can be a nuisance if you have listings that you're trying to sell but buyers sure love them. I think you're right Spring 2008 the market will still be trending down. I think my area "San Diego" is about half way through to finding it's bottom. The bright side for me and for you too is that we're first in so we'll be first out. Many areas are just starting to see the signs that we saw a year or two ago and many of them are ignoring those signs. You and I know you can't ignore whats going on in the market, not if you want to truly help your clients. I'll see you on the tables!

Mike Lewis
11:54pm • #5


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 

Lowell Caro Jr - REO Broker and Market Advisor

Las Vegas, NV

More about me…

Keller Williams

Office Phone: (702) 212-2222

Cell Phone: (702) 808-7777

Email Me

Get the #REBC - ActiveRain Twitter Updates widget and many other great free widgets at Widgetbox! Not seeing a widget? (More info)



Links

Archives

RSS 2.0 Feed for this blog