Friday, May 24, 2013

Las Vegas remains a deep underwater desert

Zillow report provides insight into Las Vegas housing market - The area with the highest percentage of under water homes -- more than 70 percent -- is located in North Las Vegas, specifically the 89030 zip code. That's bordered by Pecos, Cheyenne and Owens.

A $140,000 home a few years ago is now worth only about $40,000. Homeowners are walking away from their property and business owners are concerned.

But, there's some light at the end of the tunnel. Home prices have gone up 30 percent since this time last year, and continue to rise.