With the foreclosure sale freeze implemented in various areas of the U.S., realtors have complained that buyers are shying away from properties under bank foreclosed homes list in Nevada.
Las Vegas foreclosure investing continues to be in frenzy with more than 26,000 foreclosed homes available for sale. Despite a slowdown in foreclosures in February, the city continued to post the highest rate of foreclosure among metro areas in the nation.
Home foreclosures in Las Vegas have pulled down home values, but they have not lowered property taxes. More than 8,000 homeowners have filed tax complaints with the Clark County Equalization Board because of high tax assessments.
Las Vegas home auctions are still pushing down home prices in all neighborhoods in the area. The median sales price for existing Las Vegas homes in 2009 decreased to $128,108 in 2009, a whopping 38-percent plunge from the median in 2008.
Affirmative steps will help get out of the prevailing condition and more employment opportunities will lead to stability in the economy and the real estate market in turn leading to less Las Vegas Foreclosures.
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