Short sales are defiantly taking over the market. In the past banks would jump to the gun to foreclose on a homeowner, thinking this was the fix to the problem. But all that did was flood our market with vacant home and cause prices to drop. After years of doing this, banks not only realized the down fall to what they were doing but they also realized a foreclosed home starting to cost them on an average of an extra $20,000 compared to a short sale.
According to the Las Vegas Sun, the number of short sales in Nevada has jumped 86 percent in a year, while the number of foreclosures has dropped significantly.
A report released Thursday by RealtyTrac shows there were nearly 35,000 foreclosure sales in 2012, which is down 36 percent from a year before. Foreclosure sales accounted for nearly 38 percent of all home sales in 2012, down from a peak of 60 percent in 2010.
Meanwhile, short sales are gaining steam in Nevada faster than in any other state. They accounted for 33 percent of all Nevada home sales in 2012.
RealtyTrac reports that foreclosures and short sales combined accounted for 43 percent of all home sales in the country last year.
Read more: http://www.lasvegassun.com/news/2013/feb/28/nv-short-sales-nevada/#ixzz2MGDAZBi3If you are ready to short sale or just want to know about the process, call the experts at Nevada Realty Solutions, The Amanda Brown Team. Last year we helped 117 homeowners avoid foreclosure by doing a short sale.
Amanda Brown
702-496-7416
brownnvrs@gmail.com
lasvegasshortsalesnow.com
Nevada Realty Solutions
No comments:
Post a Comment