In Clark County, Nevada there's little tolerance for owners of foreclosed REO (Real Estate Owned) properties who fail to keep them up to county building and HOA standards. Clark County is levying daily fines of $1000 for failure to correct violations of Clark County Code Title 11, the Rehabilitation of Abandoned or Rental Residential Property, according to this Las Vegas Business Press story. The newspaper reports the fines and similar sanctions levied by homeowners associations "have already chased away prospective buyers" who would have to pay them.
The upshot is if REOs aren't maintained and the fines rapidly accumulate into big liens, the properties could ultimately become worthless since the cost to acquire them with the county and/or HOA liens tacked on could reach an appreciable fraction of their already depressed market value.
This is a real economic firefight arising out of the residential real estate crash that could end up with no winners and plenty of casualties. The owners of the REOs would lose and so would Clark County and HOAs with their jurisdictions littered with unmarketable, dilapidated properties.