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Posts Tagged ‘Distressed Real Estate’

postheadericon Invest in Residential Foreclosures

 Las Vegas is the “Perfect Storm for Residential Investors.   
 
2009 residential sales was a big improvement over 2008!  According to GLVAR, we closed around 48,500 transactions in 2009 compared to around 28,000 in 2008.   Good news, right?  Not so fast.  The rate of foreclosures rose from about 8.9% in 2008 to 12% in 2009.  With over 3 million homes nationwide hit with foreclosure notices last year, nearly 95,000 homes or about one in 82 homes in Las Vegas was served.  Las Vegas housing values have plummeted from the highs of 2004.   Is this a bad market to invest in?