Real Estate Forums

Missouri Real Estate Pro · 05-01-2007, 05:02 PM

According to a report released by Realty Trac, more than 430,000 foreclosure filings were reported for the first three months of 2007. According to the report, there are 37 states that have reported year-over-year increase with Nevada having the highest state foreclosure rate in the country.

Nevada has one foreclosure filing for every 75 households. That’s three times the national average. Nevada recorded over 11,500 foreclosures during the first quarter of ’07.

This is an increase of over 65% from the previous quarter and more than double the total reported in the first quarter of 2006! Do you Vegas boys and girls have any insight into why this is happening out there?

Missouri Real Estate Pro · 05-03-2007, 06:38 PM

Don't you think you should post something that vaguely resembles the topic of the thread?

San Diego Real Estate · 05-06-2007, 01:40 PM

Ouch..MISSOURI PRO.. great post did you ever get an answer?

Missouri Real Estate Pro · 05-07-2007, 05:55 PM

I apologize for the crude post. It really irritates me when I see spammers in here wasting space and everyones time. I really enjoy the knowledge that is passed along in this forum and don't appreciate when people don't respect what is being done here. I will change my post ASAP. Thanks to Jared and the rest of the staff for having them removed from the forum.

Las Vegas Homes · 05-08-2007, 05:21 PM

Yes, I have insight as to the conditions here in the Las Vegas real estate market! People purchases homes in which they could not afford

Everyone thought that they were an "investor" and went above their means!

Las Vegas Real Estate · 06-06-2007, 06:30 PM

I know what you mean! There are so many foreclosures out there these days, I practically show at least one to every client I deal with here in the Las Vegas real estate market!

REMAX LV · 06-11-2007, 06:12 PM

Yeah, I do not know what people expected to happen. What goes up, must go down! I have been pretty busy, however, keep up with the Las Vegas real estate market foreclosures, so I cannot complain!

CedarCity · 06-12-2007, 07:09 AM

I believe there are multiple reasons forclosures are up big in Las Vegas.

1. Adjusting Loans.

2. Wanna Be Investors.

3. To many people watch flip this house on TLC.

4. People Over extended to purchase homes.

5. Poorly priced homes.

6. Realtors stuck in Last Year when pricing homes.

the list goes on and on.

07-12-2007, 02:43 PM

lol Flip this house or Flip that house....their creating monsters!

coglethorpe · 11-02-2007, 11:30 AM

Quote:

Originally Posted by Las Vegas Homes

People purchases homes in which they could not afford

Everyone thought that they were an "investor" and went above their means!

I assume that Vegas had a "boom" similar to Southern California. I lived there in the early 1990's and it was booming even back then. I can only imagine how high prices peaked!

The valley shape of the city seemed to keep people from building out forever like where I live now (Atlanta). That just makes prices spike higher.

But now there probably will be some big deals there. Are people still flooding to the city? What about the water? We are running out here, so I imagine you all are just about dry.