Say what you will but the bottom has hit for Las Vegas 6 months ago. With all the interference with AB 284 just two months before the supply halted and now a bottom has occured. It will be bumpy but I seriously doubt it will dip below the bottom of 12/2011. AB284 was groundbreaking NV Legislation to put responsibility on banks to produce evidence showing the banks have the rightful authority to foreclose, assignment of mortgage etc. This put the breaks for foreclosures on. The banks will figure it out and again return to larger foreclosure numbers but in the meantime supply has dried up and prices are rising. Properties in LV have prior sold well below builder costs.
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http://www.deptofnumbers.com/asking-prices/nevada/las-vegas/
Say what you will but the bottom has hit for Las Vegas 6 months ago. With all the interference with AB 284 just two months before the supply halted and now a bottom has occured. It will be bumpy but I seriously doubt it will dip below the bottom of 12/2011. AB284 was groundbreaking NV Legislation to put responsibility on banks to produce evidence showing the banks have the rightful authority to foreclose, assignment of mortgage etc. This put the breaks for foreclosures on. The banks will figure it out and again return to larger foreclosure numbers but in the meantime supply has dried up and prices are rising. Properties in LV have prior sold well below builder costs.
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