Wednesday, August 29, 2012

Las Vegas Housing Marking Facing Foreclosure Glut - 8 News NOW

Las Vegas Housing Marking Facing Foreclosure Glut - 8 News NOW: LAS VEGAS -- It's estimated there are thousands of foreclosed homes about to hit the local housing market.

According to banking and real estate insiders, Las Vegas real estate is about to take another big hit, and it could delay the recovery for years to come.

Foreclosure notices continue to be posted on homes around the Las Vegas valley.

"What I'm hearing from sources, is that work has never been busier," realtor Jared Jones said.

According to real estate experts, a new wave of foreclosures is about to hit the market. It will most likely turn what has been a seller's market, for the last few months, into another foreclosure free-for-all. It could potentially drive Las Vegas Home prices down even further.
Despite more positive numbers lately for the residential real estate sector, the Las Vegas area -- a Privatopian province of some of the biggest common interest developments in the nation -- is still convulsing.

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