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LAS VEGAS FORECLOSURES

Nevada has one of the highest foreclosure rates in the nation and Las Vegas has been particularly hard hit. Learn why and how Apartment Moving and Relocation can help you navigate the process.

The state of Nevada continues to report record numbers of foreclosure rates - one filing for every 61 households as of October, 2007 and the central Valley, specifically Las Vegas, has experienced the greatest rise in foreclosures.  Las Vegas firm SalesTraq reported that through September, 5,603 homes were repossessed by banks, a 472% gain over all of 2006, when 1,829 homes were repossessed.

The problem is expected to worsen in the next year as interest rates on adjustable rate mortgages (ARMs) will reset and home payments increase 50% or more.  If you have an ARM, find lenders who may be able to help you with refinancing or other mortgage options.

Like other major cities caught in the mortgage and housing crisis, Las Vegas has also seen home prices nosedive since reaching a peak around June 2006.  Experts suggest that home prices are between 6 and 13 percent lower than they were just one year ago.  Find the value of your Las Vegas home.

There is also an overabundance of new homes in the Las Vegas area constructed during the boom years.  With depressed sales and prices, there is now an estimated 16-18 month supply of homes on the Las Vegas real estate market.  Find Las Vegas homes for sale.

If foreclosure is affecting you, use ApartmentStores Moving and Relocation to find resources to help you through the process.  Whether you’re in the pre-foreclosure stage where there are solutions such as a short-sale to stop the foreclosure process or your home is listed for auction, learn how you can prevent negative credit consequences from foreclosure. 

Let ApartmentStores Moving and Relocation help you with all your Las Vegas moving needs.

 

 

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