Banks in Las Vegas dumping 1000s of Foreclosed Homes

Mortgage and Lending with All Western Mortgage Broker # 14210

Vegas Bob's post that Banks in Las Vegas will be dumping 1000's of homes will be welcome news for home-buyers but bad news for homeowners. With a flood of new homes coming on to the market it would be expected to see a decrease in home prices. With  this added to more defaults when the 5 year ARM'S start to reset expect to see a glut of new listings.

Original content by Robert Vegas Bob Swetz
Harmon Building MGM City Center - Photo taken by Robert Swetz

Harmon Building MGM City Center - Photo taken by Robert Swetz

Robert (Vegas Bob) Swetz spoke with some Broker’s from some major Real Estate companies with some connections to banks in the Las Vegas Valley.

Word has it banks across the LV Valley are going to be bringing thousands of new foreclosed home into the RE market. Banks have been sitting on so many foreclosed homes, many from years ago hoping that more would sell so they wouldn’t have to flood the market more then it is.

Great news for home buyers is with these new foreclosed homes coming into the market prices are going to be dropping ago later in the year.

Robert Swetz May 15th 2011

Banks in Las Vegas dumping 1000s of Foreclosed Homes

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Robert (Vegas Bob) Swetz

Robert (Vegas Bob) Swetz

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         Kenny Salame                                                                                                  Equal Housing

Kenny Salame
Senior Loan Officer
All Western Mortgage Inc.
8345 W. Sunset Rd.
Suite 380
Las Vegas, NV, 89113
Mobile: 702--506-3301
Direct: 702-947-0609
Office: 702-369-0905
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Comments (2)

Robert Vegas Bob Swetz
Las Vegas, NV

Hello John and thanks for the re-post/ re-blog and Fall of 2011 is going to be very interesting around Las Vegas!

VB ;o)

May 16, 2011 06:38 PM
Kenny Salame
All Western Mortgage Broker # 14210 - Las Vegas, NV
NMLS ID 313873

Vegas Bob,

This fall may bring more then our usually cold winds, but a chilly housing market as well.

May 17, 2011 05:25 AM