Vegas Forclosures Surge

Foreclosure activity surged in NV for the month of Aug. NV has
been the foreclosure king every month for over 4 years now. Is
it ever going to end? They say we need to get to the bottom
of the foreclosure well before there can be a recovery. But what
if the well is bottomless?

Forclosures

Here's an article about property values plummeting
ANOTHER 5%-50% in the last year, from values that
were already extremely low. Look at the map of the
zip codes on the right. Why is there such a difference
in some zips in Summerlin? You have a zip where values
went up 5% right next to two zips that went down 20%
to 50%. How is that possible?

Property Values

This is why I am going to rent for awhile. I know it is throwing away my money but I will never buy until I find a place I am willing to buy with the knowledge that I will probably never be able to sell it

Quote: EvenBob

Here's an article about property values plummeting
ANOTHER 5%-50% in the last year, from values that
were already extremely low. Look at the map of the
zip codes on the right. Why is there such a difference
in some zips in Summerlin? You have a zip where values
went up 5% right next to two zips that went down 20%
to 50%. How is that possible?

Property Values

Some zip codes are very small. Zip code 89138 is 1,835 homes of which 1,558 were built 1999 or later. It is relatively large homes. Maybe 200 are on the market.

The zip codes with lots of artificial lakes are probably still fairly desirable to retirees moving into Vegas. They have already fallen catastrophically and are being bought by people who don't want to see them fall any further.