Are you interested in Las Vegas foreclosure and short sale updates?
Vegas foreclosures have dramatically slowed down in that 2nd half of
2012 which has made inventory very tight in the Las Vegas market. I
believe that the Las Vegas foreclosure pace is about to pick up in the
2nd & 3rd quarter of 2013 due to the recent pick up in notice of
defaults. This inventory is much needed in today's market with all the
pent up buyer demand and most listing on the market receiving multiple
Las Vegas Foreclosure Proceshe
first formal and public step the lender takes against the homeowner is
to file a notice of default when the buyer gets behind on payments at
least 90 days.Â You can see in the chart below that during the first
half of 2012 there was very few notices of default recorded in the Las
Vegas (Clark County) area. During the second half of the year the
notices of default really started to pick up steam. Since the typical
lender takes between 6-9 months to foreclose we should see this
inventory coming into theÂ Las Vegas foreclosure or short sale market
Notice of Trustee's Sale
A Notice of Trustee's Sale informs homeowners of record that their home will be sold at a trustee's sale
on a specific date, time and location. The actual sale or Trustee's
Deed completes a non-judicial foreclosure in states like Nevada. Since
the notice of default begins the legal and pubic filings and they
increased in late 2012 we should definitely see much higher Las Vegas foreclosure activity in 2013.
Please give us a call at Heuser Homes for all of your Las Vegas foreclosure and short sale questions.