The Amanda Brown Team
Nevada Realty Solutions
Amanda Brown
702-496-7416
brownnvrs@gmail.com
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In 2012 there were big changes in the real estate market for Las Vegas. The reason for the changes actually started in 2011 when a new law was past called AB 284. This law affected how a bank can foreclose on a homeowner. Therefore with the new law many banks slowed down their foreclosure process to make sure they were in compliance with the new law. Well as the year went on, foreclosures slowed down, which caused their to be less inventory in Las Vegas and with supply down and demand high that of course affects the prices. 2012 was the first time since 2004 where we have seen this kind of price increase. Please see attached an article recently published in the Las Vegas Review Journal talking more about the 2012 Las Vegas Housing Market.
Las Vegas housing saw transition from foreclosures to short sales in '12
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