Earlier this month after JP Morgan Chase Bank and Ally Financial Inc. put a halt to evictions of property owners in default on their mortgages after rumors surfaced in several states that alleged that bank officers/employees were signing documents that may have contained errors. Bank of America soon followed suit and halted all property seizures as well.

In a statement release by Bank of America this past Monday, "Our initial assessment findings show the basis for our foreclosure decisions is accurate."

"Although the Moratorium was short lived, it did have an impact on the Las Vegas housing market as it made potential buyers uneasy about home purchases and Title Companies a bit skittish about writing Title Insurance." according to Las Vegas Realtor Laura Arcuri of the Realty One Group.

Ms Arcuri went on to state "Although Nevada was not listed as one of the 23 states the effect of temporarily putting the brakes on any foreclosures will send ripples throughout the already devastated real estate industry and will delay a full recovery.”

What this Las Vegas Real Estate Veteran is referring to is the fact that in order for the market to stabilize foreclosures are a necessary evil. Home owners simply cannot remain in homes that they cannot or will not pay their mortgages.

"It was the Housing Sector driven by out of control politically initiated Sub-Prime and "Liar" loans that caused our current recession. The economy simply cannot recover until the real estate industry does. It is time to finish the healing process." according to Ms Laura Arcuri.

For anyone looking to invest in Las Vegas now is certainly the time. Many investors from all over the nation and Canada are honing in on the “steals’ in real estate in the southern Nevada area. All around Las Vegas and many of the master planned communities in Summerlin, Rhodes Ranch and Henderson are seeing foreclosures, just like other places all over the United States. What this means for investors, is that these luxury homes are now selling for so much less than anyone can imagine. Investors, whether looking for long term or short term profit are flocking to the Las Vegas area in ensure they get a piece of this sought after real estate.

The housing market is steadily making a change for the better, which means that all the homes that are now in foreclosure are practically all gone. Yes, individuals and investors knew a good thing when they saw it and purchased these homes, which is helping the housing market here in Las Vegas, start recovering. The problem for investors is that if they do not get in now before all the Las Vegas foreclosures are gone, the inventory will be very low. Once the inventory is low, prices will rise as there will not be enough Las Vegas investment properties on the market for those looking to buy.

The bottom line in the housing market in Las Vegas is that inventory has decreased drastically the last couple of months, interest rates are still wonderful, and prices are so below the norm that you may faint at what you can get for your money.

At the time of this writing, Fannie Mae is offering a Non-Owner Occupancy loan for investors with terms of 10 percent down at 7 percent. The program is called HomePath, but there are only a few lenders that are registered with Fannie Mae to process these loans. You may not believe this, but all over Las Vegas, the median price for a home is $142,000 with many more at $100,000, meaning you can obtain a great rental property for only $10,000 down.

Investors that are serious about buying investment property at a great price and receiving more than they bargained for, should check out Las Vegas before all the properties are gone. Today, investors can find single-family homes, condos, townhouses, golf homes, luxury homes, and other properties that will surely put them in the profit column in a short amount of time.

Investors should talk with our Las Vegas Homes experts to learn all the possibilities available in the Las Vegas area. With a professional Las Vegas real estate Agent by your side, you will be able to find the Las Vegas investment property you desire and save money in the process.

Many believe that home sales went up in June in Las Vegas due to the overwhelming number of Southern California investors that returned to the area to find deals on single-family homes. The number of investors seen in the Las Vegas area in June of 2009 when compared to June of 2008 was 35% higher.

Steve Bottfeld the executive vice president of Marketing Solutions stated, “Real estate has always been a good investment, and right now it has never been better from a residential standpoint,” … “I just wouldn’t invest in commercial because it is about to go through what residential already has.”

The research provided by DataQuick showed that Las Vegas property investors of both new and existing homes in June were 37.5% of the buyers. By their records, this is the second highest June during the last decade when comparing investor purchased homes, second to June of 2004 at 39.4%. Henderson homes and homes in Summerlin were also big gainers in the push for Las Vegas property investments.

Bottfeld went on to explain that the investors you are now seeing in the buying frenzy are now the same as the ones that were buying and flipping property. The investors in Las Vegas today are the ones that are looking for long-term real estate income. “It makes sense because if someone can buy a home for $100,000 in cash and rent it for $1,000 a month, that equates to a 12 percent return before taxes and other expenses are included, … “even getting an 8 percent return is better than the 2 percent they might get at their bank.” He stated.

Glenn Plantone a realtor and president of the Real Estate Insiders Club explained that investors are taking advantage of the huge drop in price the market is seeing in existing homes such as homes that were selling for around $300,000 are now going for close to $110,000. “They are buying them for cash flow;”…“We are not even talking about appreciation potential.”

Plantone went on to explain more about the rental market, “It is a lot easier to rent houses than condos,” … “We are getting people who are walking away from a $2,000 a month home payment and going across the street to rent a home for $1,200 in immaculate shape.”

Plantone stated that he has been working more with Southern California investors that have several hundred thousand dollars to invest and have been sitting around waiting for just such an opportunity to present itself in real estate.

Robyn Yates, the broker-owner of Windermere Prestige Properties said that she is seeing foreign buyers as well, many from Asia that are buying homes without even seeing them in person.

If this trend keeps up in Las Vegas, all those homes on the market will be in the hands of investors and new homes sales will certainly be on the rise. Does this trend mean that all those ugly Las Vegas foreclosure stories we have been hearing will soon be a thing of the past and the real estate market will begin healing?