BluefoxToday blog : Las Vegas pre-foreclosure filings fall in April

Las Vegas pre-foreclosure filings fall in April

 The Southern Nevada real estate market is doing all it can to shake off the jitters that have bothered it for a long time. Since it took a while to get buried this deep into the housing and mortgage mess, it'll likely take at least as long to completely wiggle out of it. That's just the way it is. Nothing is going to happen overnight.

 Another positive foreclosure statistic was released this week. The California online research shop Foreclosures.com reports that Clark County, more or less Southern Nevada, logged 4,426 pre-foreclosure filings in April. This figure is a sizable decrease from the record March filings of 6,152, a very welcome development.

 However, caution is still the word. In January the number was almost 6,000, then dropped to about 4,000 in February, jumped high in March as noted earlier and now fell again. In essence, it resembles a roller-coaster ride. Often as market corrections take place it happens in this manner when the upward curve is about to break and after a few months of up-and-down movement the steady, perhaps still slow, trend down begins to gather steam. That's what everyone is now looking forward to.

 Foreclosures.com also informs its readers that Nevada remains at the top of the heap in pre-foreclosures of all households statewide, with 3.15%. The percentage really isn't a high number in itself, although it is up from its historic levels. Arizona came in second with 2.87% and third place went to Florida at 2.56%.

 Nationally, pre-foreclosure filings are also heading down, at least for April. Maybe the steady climb is about to come to an end here, too.

 

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Provided by: 

Esko Kiuru
Mortgage, real estate and apartment industry analyst 

www.BluefoxToday.com - syndicated mortgage, housing and property management blog

eskokiuru@gmail.com
My cell: 702-499-1006

Comment balloon 9 commentsEsko Kiuru • May 15 2008 10:38PM

Comments

Esko - this is great news! Hopefully we are on our way to a stabilized market.  I'm sure seeing more activity lately.

Posted by Mary Warren about 11 years ago

Esko, It's so nice to read some good news...I don't believe Trump would be building there if he didn't believe things were going to turn around.

Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) about 11 years ago

Mary,

It has been long coming. Hopefully it'll start a new, downward trend.

Posted by Esko Kiuru about 11 years ago

Carole,

Trump sure is good at sniffing out opportunities.

Posted by Esko Kiuru about 11 years ago

Diane,

There are excellent buys right now and lower-end homes are getting multiple offers. C'mon down.

Posted by Esko Kiuru about 11 years ago

Esko, anything that we can look at in a positive light these days is good even if it may only be temporary.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) about 11 years ago

Esko,

Great piece of information.  It is very important that the folks that know this market site every chance they can get, the information that will tell the true story about our market.  Too many times the headlines are dominated by folks who simply don't know and folks that thrive on others misery.

 

Thanks

http://vegasrealestateguy.com

Posted by Kevin about 11 years ago

George,

Las Vegas sure is hungry to get some normalcy to the marketplace.

Posted by Esko Kiuru about 11 years ago

Kevin,

Just trying to keep a finger on the pulse and pass the word.

Posted by Esko Kiuru about 11 years ago

Participate