2012 Las Vegas Real Estate Market Trends: REO Inventory

Las Vegas 2012 Real Estate Market Trends:  REO/Bank Owned Inventory

Las Vegas real estate in 2012 will no doubt be a wild and wacky and an unpredictable market resulting in broken crystal balls as it has been for the last 5 years.   This I am sure of. My 2012 Las Vegas real estate market trends predictions will depend on several factors:

  • Steady interest rates
  • Steady underwriting guidelines (LOL!)
  • Current laws
  • Current market conditions
Las Vegas REO/Bank Owned Inventory has declined over several years.  I believe much of this has to do with extreme high buyer activity, larger amounts of short sale closings, perhaps (this one is purely speculative for me) trustee sale purchases for flip and for hold and then FINALLY the most recent major factor is AB 284.
My prediction for Las Vegas REO inventory in 2012 is that it will continue to dwindle unless AB 284 is repealed.  This doesn't mean that our foreclosure mess is ending, it means it is just stalled and the recovery will drag on for longer than it would have lasted prior to implementation of AB 284.
 
Many are estimating that the foreclosure timeline process in NV has been moved from 6-8 months to 2-3 years due to this new law.
 
As always, time will only tell what will really happen when this is all done and over with.
 
(PS:  Some months are blank because I did not report on those months in the past on a consistent basis.)

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9 Comments on 2012 Market Trends: Las Vegas Residential REO Inventory

FEB
28
2012
586,046 Points

Hi Renee,,,always enjoy viewing stats and graphs on other communities...thanks for sharing with us.
4:31pm • #1
593,757 Points 22 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Renee:  Great information about the Las Vegas REO stats!  
7:26pm • #2
564,491 Points 2 Featured Posts Outside Blog Called Shot Master

Renee,

Just another great bit of information from the Las Vegas Specialist.  You certainly are local expert when anyone needs Las Vegas.
8:08pm • #3
663,226 Points 17 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Renee - The forclosures seem to be slowing?    I hope???  Great post!
8:29pm • #4
FEB
29
2012
606,097 Points 9 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Hi Renee - that is amazing that this new AB 284 now allows foreclosures to take up to 2-3 years. Wow!
12:43am • #5
1,392,119 Points 28 Featured Posts Hit Router Called Shot Master

Yes, difficult to try to forecast the future when we're at the whim of the banks as well as the government with possibilities of some strange rules.
3:10am • #6
1,111,220 Points 72 Featured Posts

Renee, What a strange rule...how can that ever be good?  The timeline from 6-8 months to 2-3 years is mind-boggling!
5:06am • #7
269,160 Points 3 Featured Posts Outside Blog Hit Router Attended Rain Camp

Renee: I would say the REO slow down is a controlled slowdown and can be steered in any direction the big banks want it to go. There are so many homes in your market and my market that are highly under water and payments not being made. These properties will be foreclosed on eventually. As always a very good report.
5:33am • #8
MAR
01
2012
704,949 Points 10 Featured Posts Outside Blog Called Shot Master

Hi Rene,

Short sale inventory continues its move downward but still is a large number in your market. You are definitely the Expert in Las Vegas and anyone needing a home in that area needs to find you.

2:32pm • #9

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