LV Forclosure Rate Rises
According to Default Research, the number of foreclosures in Clark County increased by 36 percent in the first quarter of 2006 compared to the same period in 2005.
The company claims that one of the contributing factors to rising foreclosure rates relates to the housing shortage in 2003 and early 2004. At that time, investors purchased properties hoping to make money when property values went up because of increased demand levels. However, they miscalculated because the housing shortage ended, and many investors were stuck with overpriced properties.
The question posed is whether this is a pattern that LV will continue to see for many months to come.
For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.
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