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Buy Nevada Foreclosure Listings
Nevada foreclosure listings in Las Vegas are the highest in the country. There are currently over 52,000 foreclosure listings in this city. Homes in Las Vegas saw a drop in overall prices because foreclosed properties were more than two thirds of the homes that were actually sold. Foreclosure listings in Nevada send homes to auction rather quickly; and with these homes being so far below market value, the rest of the real estate takes a hit as the new homes have to be priced lower just to get them to sell at all.
One of the factors contributing to the foreclosure listings rise has been the predatory lenders and their practice of making loans to people they know cannot afford to pay back. The government has had to step in and help some of the families try to keep their homes. In a move that for all intents looked like a generous one, the Bank of America bought the titles to over 400,000 homes, only to then tell the homeowners that they could keep their homes if they renegotiated the contract. Of the ones who took this deal, Bank of America hung them with a new higher interest rate and shorter terms on the payback. The same things are happening in Henderson, Reno and Sparks. That is why the bank foreclosure listings are increasing, as most folks cannot handle a new deal.
In Reno there are over 7,000 homes on one realtor, bank foreclosure listings website. That number is increasing by the week. This is a real estate flipper’s dream as the houses that can be purchased at less than 40% of their original selling price are going to auction almost before they have really been lived in. This means less repair work and less renovation capital needed before the property can be resold at a markup. Moving to Nevada is a great place to live and right now, buying the perfect home is easier and less costly if you stick to the foreclosure listings.
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