In this post we we will be exploring a few characteristics of Las Vegas Foreclosure Trends in May 2013. As you can see in the chart below, Notice of Default filings decreased by 4% in May 2013 compared to the same period last year. Also, Notice of Sales dropped by 15%. This means that the in the coming months there should be a reduction in inventory of Foreclosures coming to Las Vegas. This is in contrast with the Foreclosure Data we are observing in San Jose with substantial reduction of properties in auctions in teen as opposed to Las Vegas with more than 1,300 NODs per month.
Now that we know that volume of Las Vegas Short Sales, Las Vegas REOs and Las Vegas Auctions will in the coming months, let’s find out how competitive the prices are at the Court House for you to acquire rental properties at a discount. The chart blow clearly indicate that the Opening Bids for foreclosure auctions in Santa Clara increased by 10% over the same month in 2012! Interestingly the Winning Bid for Las Vegas Foreclosure Auction only increased by 6%. This means that Las Vegas market could be on it’s way to recovery since the banks are getting higher prices for their foreclosed properties.
You can start Searching Foreclosures with our FREE search utility and notify us if you need more detail on these foreclosures. We can also email you a FREE eBook on the value of the home you are interested in.