ForeclosureDeals offers a solid database of Las Vegas bank owned foreclosure homes and Las Vegas government foreclosed homes for sale from federal agencies such as: HUD, VA, FHA, Freddie Mac, Fannie Mae, USDA. These Las Vegas repossessed homes can be found in a number of ways, such as pre foreclosures, short sales, foreclosure auctions, flipping homes, bankruptcies and home foreclosures for sale in Las Vegas, NV. Our up-to-date real estate foreclosure listings in Las Vegas offers cheap distressed properties for buying & investing, in a great variety of properties like commercial & residential, multi & single family homes, lands, condos and apartment foreclosures in Las Vegas area.
Bright lights, big city. No place realizes glamour, adventure and exotic dreams better than Las Vegas. Where else would you expect to find world-class real estate than in the oasis of a city like Las Vegas? Las Vegas offers a plethora of investment opportunities when it comes to single family homes, apartments and condos. Seasoned investors and first time buyers looking for a good sale will be able to find unexpectedly cheap prices even on the Vegas strip itself! Foreclosures, quick sales and purchases are easy to find here as the Las Vegas community is always moving. Take advantage of these opportunities and start searching for foreclosed homes for sale in Las Vegas, NV now!
Real estate is one of the hottest investments in the U.S. today, spurred by falling home prices, low interest rates, and an extremely high amount of foreclosure listings on the market. Few places in the country have been hit harder by the foreclosure crisis - or have as much potential for investors - than Nevada.
Las Vegas in particular is the go-to place for real estate investment and foreclosure investing in Nevada. Boasting only the 28th-largest city population in the country, but the 5th-highest foreclosure rate for metropolitan areas, Las Vegas calls itself the "Entertainment Capital of the World" for its glitzy casinos, high-dollar shopping, and world-class attractions.
Savvy real estate investors should look to Las Vegas for prime real estate opportunities.
In each city, there are key areas that are in high demand by investors and homeowners alike. This demand is not only caused by low prices, but also by additional factors, such as:
Based off of these characteristics, some of the most desirable areas in the Las Vegas metropolitan areas include Henderson and the Green Valley area. Henderson features low property tax rates, is close enough to Las Vegas for commuting and entertainment but far enough to preserve a nice, family-oriented atmosphere, and enjoys low crime rates. Much of the same applies to the Green Valley area. Summerlin is another area that is close to many amenities, including the McCarran International Airport, is safe, and has access to quality shopping and dining.
Las Vegas has a metro area population of approximately 1.9 million people. The population of the city itself, 583,756, grew by 22% from 2000 to 2010 and almost doubled in size in the decade before. Las Vegas features approximately 21,000 foreclosure properties, with an average foreclosure sale price of just under $113,000. Roughly one out of every 181 properties in the area received a foreclosure filing as of January 2012. The median home price in the area stands at $110,000 for all properties, down 9.4% from January 2011 to January 2012.
Before you invest in Las Vegas foreclosures, it helps to understand the ins and outs of Nevada's foreclosure process. Nevada uses both a judicial and non-judicial foreclosure process. If no power of sale clause is in the property's mortgage or deed of trust, then judicial foreclosure is used. A court has to allow a lender to foreclosure a home, and the homeowner has 12 months after the foreclosure sale to redeem his or her former home.
With the non-judicial foreclosure process, the lender files a Notice of Default, giving the homeowner 35 days to bring their account up to date. The Notice of Trustee Sale is then filed, with a trustee sale scheduled 60-90 days after the Notice of Default. The Notice of Trustee Sale must be posted for 20 days and publicly published weekly for three weeks before the auction can be held.