Foreclosure starts are down, investors remain active
Savvy real estate investors are putting a dent in the number of foreclosures in Nevada, according to the website ForeclosureRadar.com and as reported in the Las Vegas Review Journal.
Foreclosures start with a process called a “notice of default.” In April, the number of notice of defaults dropped 30 percent when compared with March. Naturally, the number of foreclosure sales also declined.
Foreclosure can be a trying process for a family. It’s never easy to say goodbye to a home you once thought would be the center of your livelihood for years to come. Thankfully, banks and finance companies have made strides (relatively speaking) in making the process more manageable. Perhaps, when this whole slide reaches its twillight, we’ll be able to look back through the darkness and find some points of light on which to focus. Maybe we’ll be better brokers because of it, able to more quickly identify when a house isn’t a good match for a customer; and maybe mortgage brokers will be more in-tune with what it takes for a home buyer to live a financially balanced life. And perhaps the entire foreclosure process will be much, much smoother than it is now.
No one is really sure if this decline in foreclosures will continue. This “recovery” has been up and down, unsteady at best. But we’ll get there.
If you are facing foreclosure or even think you might be on the way and have questions about your next steps, we have a strong team of Las Vegas and Henderson agents that can help.