When will the WAVE of Foreclosures hit Las Vegas?
Will they come again? Will they come as a drip or a full force tsunami?
These are questions that I'm sure are coming up in many other places than just Las Vegas.
The Las Vegas real estate market is in somewhat of a "turn around" right now with our inventory of available houses dropping drastically as investors are still gobbling up a lot of the homes as they hit the market.
We are back to multiple offers coming in on homes, but this may not last if a bunch of foreclosures are dumped all at once on the market. There may still be issues with some of the current pending sales that may not close due to appraisal issues.
Some feel that now that the Big 5 have made the settlement, that we should start to see an increase in foreclosure filings again and that could equate to 90-120 days out to hit the market.
Only time will tell!