Categories: BlogRecent Real Estate News in Nevada

Nevada Drops to 3rd Place in Foreclosure Rates

RealtyTrac announced today that Nevada has now dropped to 3rd place in the foreclosure rate. This would include foreclosure related filings such as, Bank repossessions, defaults and scheduled auctions. Sadly, in May one in every 313 homes had a foreclosure related filing. In total Nevada had 3,755 filings down from 11,039. Washoe County had 421, down from 1,152 and Clark County 3,122, down from 9,203.

Assembly Bill 284 which was passed in October 2011 might be responsible for this as it required stricter documentation during the forcelosure process and has slowed the number of distressed homes released on the market. Unfortunately Nevada is more than likely going to see more short sales and auctions as lenders learn how to navigate through a Assembly Bill 284. RealtyTrac CEO Brandon Moore said, “U.S. foreclosure activity has now decreased on a year-over-basis for 20 straight months including May, but the jump in May foreclosure starts shows that it’s going to be a bumpy ride down to the bottom of this foreclosure cycle.”

If you are considering doing a short sale on your home please remember that it is not always necessary to use an Nevada Attorney,when short sales are free. Consider the following; will the attorney guarantee their services and pay you a full refund if they fail to perform? If you meet with an attorney who won’t agree to refund your money should they fail to get your short sale approved, you should move on. Keep your hard earned money. Why pay an attorney for a service that should not cost you a dime. Many banks are now waiving their right to pursue deficiency, and some banks are even offering “cash back” to homeowners as an incentive to short sell. Remember there are many short sale agents that are specialists in this field.

Louise Simpson

Greetings, I was born in South Africa, and moved to Nevada over 30 years ago. I have resided in the Reno area for the past 25 years, living the past 20 years in Galena Forest Estates, much of it with my three lovely sons. I have been involved with the Montrêux Real Estate Group since its inception in the early 90's, and was previously the marketing director of the Montrêux Development Group the past eight years. Having known the area for so long, and believing I could help share the Montrêux area with others, I chose to begin selling homes with Dickson Realty, the broker of record at Montreux and one of the most professional real estate companies in the greater Reno, Nevada area. I am happy were I am and would love to help you find a quality, yet affordable home or piece of real estate in Reno or the Montrêux area. Reno living, with its outdoor lifestyle, fresh air, proximity to Lake Tahoe and the Sierras, not to mention Nevada's tax friendly attitude to businesses, make the area one of the best-kept secrets in the United States. Additionally, Montrêux has spared nothing in its goal to make it the best place to live in town, since quality of life usually takes precedence over everything else. Please feel free to contact me for a relaxed, no-pressure meeting if you are interested in buying or selling a home in the Reno, Nevada area. I look forward to meeting anyone interested in real estate opportunities, even if you're uncertain about buying a home. I will listen to your needs and work diligently to find you a home, or steer you in the right home-buying direction otherwise. Please call or email me if you have any questions - I really believe I can make a difference in your search for finding or selling a home. Ms. Louise Natalie Simpson P.S. If you'd like to see a video about Montreux, please see the following clips: YouTube

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