National Foreclosure Update: Shocking Las Vegas Foreclosure Data

Todd and Oana talk about the foreclosure process and give an update to the national foreclosure rate. Las Vegas foreclosure number are shocking for Clark County. Normally in a recession foreclosures tend to rise, but in this case, the opposite is happening. There are almost no foreclosures in Las Vegas. Historically where there is a high foreclosure rate in Las Vegas, the US housing market is also having a high rate of foreclosures, leading to a housing bubble that crashes.

The Foreclosure process includes Notice of Defaults, Notice of Trustee Sales, and the actual trustee sale, which is the Trustee deed where the home is sold on the courthouse steps. This actually doesn’t take place at a courthouse in Las Vegas, but at a building in the downtown area that’s run by the county.

There have been predictions of a real estate crash in the US, but so far that appears to be far from happening. The housing bubble is still growing in Las Vegas and the rest of the country.

Todd Miller

Oana Sterlacci-Miller

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