Nevada Slashed Its Foreclosure Rate In February

Nevada Slashed Its Foreclosure Rate In February

Even though Nevada has seen a slowdown in the foreclosure rate last month,  Nevada is still showing an above-average default rate.  According to Jennifer Robison of the Las Vegas Review-Journal, "The Silver State ranked No. 3 in the nation for homes in foreclosure, with one in every 633 homes somewhere in the process in February, according to a Wednesday report from California research firm RealtyTrac.   Only Florida, where one in 372 homes was in foreclosure, and Maryland, where the number was one in 557 homes, ranked higher.  Nationally, the rate is one in every 1,170 homes.

The National rate is one in every 1,170 homes.  Nevada is more than double this National rate.

RealtyTrac’s report also looked at what the company called 'zombie foreclosures,” or foreclosed homes that have been abandoned.  Nevada saw a big jump in owner-vacated foreclosures in February, with a 21 percent year-to-year gain that ranked No. 3 in the nation.

Daren Blomquist, vice president of RealtyTrac, said "zombie foreclosures are worse than owner-occupied foreclosures because vacant properties “drag down home values in the surrounding neighborhood and contribute to a climate of uncertainty and low inventory in local housing markets.”


The buyers have also pulled back since the late fall early winter with purchasing homes.  Although the late winter reports an upswing in mortgage applications.   

Is it time to Sell?  Prices seem to be leveling out.... will they hold for a while, or perhaps drift backwards....   As builders continue to build and homes foreclose at an above the National rate.... we will have to wait and see.

Only the market can tell us.

Contact me for help and professional representation when buying or selling.  


S PIZZOLATO DEBRA Headshot
Author:
Phone: 702-348-8350
Dated: March 25th 2014
Views: 2,981
About S PIZZOLATO: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Sign In For A Free Home Evaluation - Good Morning Brenkus Realty
Locals In Las Vegas - Las Vegas has a reputation that
March Into Spring With These Events - Keller Williams Realty The Market
Who Endorses Brenkus Realty Network - Who Endorses Brenkus Realty

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Keller Williams Marketplace - Brenkus Realty Network
2230 Corporate Circle suite 250
Henderson, NV
702-456-5959
702-456-1099

Other Locations