
Investors are buying Las Vegas right now! Current Foreclosure Report: 06-29-09 Over the last two months (May and June of '09), available single family homes have decreased by almost 2,000 units, available bank owned homes decreased from 4,464 to 1,893 units since May 1st. A decrease of 2,571 homes. With reduced Las Vegas inventory topping 17,240 in available homes, condominiums, high rise, multi-family buildings and land listings, the market reflects strong buying activity with 10,152 single family homes in Escrow, compared to 5,984 two months ago. In addition, there are almost 2,421 units of high-rise, condos, multi-family buildings and land listings in escrow, waiting to close. See statistics below. Search for Foreclosure Properties More statistics here >>>		Top Las Vegas Foreclosure Agent of the week: Erica Hervol


		If you are in the market to buy a Foreclosure property, REO or Short Sale in Las Vegas, you should call me first. I have some fantastic deals for you. (702) 376-3464

LAS VEGAS FORECLOSURE STATISTICS as of:	06-29-09
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Available Properties The Las Vegas inventory and foreclosure report is brought to you by Las Vegas Foreclosure specialist Andreas Adrian of Majestic Properties.
		06-29-09	05-01-09
Homes available - total For Sale in Las Vegas (incl. short sales, bank owned)		12,584	14,567
Homes available - Short Sales		4,028	5,467
Homes available - Bank Owned - REO		1,893	4,464

Condos/Townhomes - total For Sale in Las Vegas (incl. shorts & reo's)		3,086	4,479
Condos/Townhomes - Short Sales		1,276	1,393
Condos/Townhomes - Bank Owned - REO		657	1,457

High-Rise Condos - total For Sale in Las Vegas (incl. shorts & reo's)		226	247
High-Rise Condos - Short Sales		28	27
High-Rise Condos - Bank Owned - REO		3	6

Multi-Family buildings - total For Sale in Las Vegas (incl. shorts & reo's)		196	225
Multi-Family buildings - Short Sales		58	49
Multi-Family buildings - Bank Owned - REO		46	61

Land - total For Sale in Las Vegas (incl. short sales, bank owned)		1,148	1,156
Land - Short Sales		45	39
Land - Bank Owned - REO		59	47

Explanations: "total For Sale in Las Vegas" means all available listings of that category, listed in the MLS System of the GLVAR (Greater Las Vegas Association of REALTORS), and includes all short sales and bank owned properties shown separately below. It includes properties in North Las Vegas, Summerlin, Boulder City and other areas within the Las Vegas valley.

LAS VEGAS FORECLOSURE STATISTICS as of:		06-29-09
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Properties under contract, waiting to close
	06-29-09		05-01-09
Homes pending - total Pending in Las Vegas (incl. short sales, bank owned)	10,152		5,984
Homes pending - Short Sales	4,844		2,043
Homes pending - Bank Owned - REO	4,185		3,261

Condos/Townhomes - total Pending in Las Vegas (incl. shorts & reo's)	2,308		1,217
Condos/Townhomes - Short Sales	1,108		416
Condos/Townhomes - Bank Owned - REO	1,002		693

High-Rise Condos - total Pending in Las Vegas (incl. shorts & reo's)	21		10
High-Rise Condos - Short Sales	13		5
High-Rise Condos - Bank Owned - REO	2		2

Multi-Family buildings - total Pending in Las Vegas (incl. shorts & reo's)	66		24
Multi-Family buildings - Short Sales	27		8
Multi-Family buildings - Bank Owned - REO	37		24

Land - total Pending in Las Vegas (incl. short sales, bank owned)	26		12
Land - Short Sales	7		3
Land - Bank Owned - REO	7		0

Explanations: "total For Sale in Las Vegas" means all available listings of that category, listed in the MLS System of the GLVAR (Greater Las Vegas Association of REALTORS), and includes all short sales and bank owned properties shown separately below. It includes properties in North Las Vegas, Summerlin, Boulder City and other areas within the Las Vegas valley.

How to avoid Foreclosure?

Here are some tips provided to you by the Federal Government.

This is an excerpt from the governments website at www.hud.gov.

Tips for Avoiding Foreclosure

Are you having trouble keeping up with your mortgage payments? Have you received a notice from your lender asking you to contact them?

Don't ignore the letters from your lender
Contact your lender immediately
Contact a HUD-approved Housing Counseling Agency
Toll FREE (800) 569-4287
TTY (800) 877-8339

If you are unable to make your mortgage payment:

1. Don't ignore the problem.

The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house.

2. Contact your lender as soon as you realize that you have a problem.

Lenders do not want your house. They have options to help borrowers through difficult financial times.

3. Open and respond to all mail from your lender.

The first notices you receive will offer good information about foreclosure prevention options that can help you weather financial problems. Later mail may include important notice of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court.

4. Know your mortgage rights.

Find your loan documents and read them so you know what your lender may do if you can't make your payments. Learn about the foreclosure laws and timeframes in your state (as every state is different) by contacting the State Government Housing Office.

5. Understand foreclosure prevention options.

Valuable information about foreclosure prevention (also called loss mitigation) options can be found on the internet at portal.hud.gov/portal/page?_pageid=33,717348&_dad=portal&_schema=PORTAL .

6. Contact a HUD-approved housing counselor.

The U.S. Department of Housing and Urban Development (HUD) funds free or very low cost housing counseling nationwide. Housing counselors can help you understand the law and your options, organize your finances and represent you in negotiations with your lender if you need this assistance. Find a HUD-approved housing counselor near you or call (800) 569-4287 or TTY (800) 877-8339.

7. Prioritize your spending.

After healthcare, keeping your house should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment. Look for optional expenses-cable TV, memberships, entertainment-that you can eliminate. Delay payments on credit cards and other "unsecured" debt until you have paid your mortgage.

8. Use your assets.

Do you have assets-a second car, jewelry, a whole life insurance policy-that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income? Even if these efforts don't significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home.

9. Avoid foreclosure prevention companies.

You don't need to pay fees for foreclosure prevention help-use that money to pay the mortgage instead. Many for-profit companies will contact you promising to negotiate with your lender. While these may be legitimate businesses, they will charge you a hefty fee (often two or three month's mortgage payment) for information and services your lender or a HUD approved housing counselor will provide free if you contact them.

10. Don't lose your house to foreclosure recovery scams!

If any firm claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home! Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, a trusted real estate professional, or a HUD approved housing counselor.

Source: http://www.hud.gov/foreclosure/index.cfm

More informational links here: Who may handle Escrow Settlements?

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