Foreclosures Triple
Las Vegas home foreclosures have more than tripled in the past year according to reports released late last week. According to real estate experts foreclosures in Nevada is outpacing the national rate as homeowners succumb to rising adjustable-interest rates. Also adding to the pains is the weakened seller’s market.
Many of the homes that are being foreclosed on are investors who purchased homes about a year ago with minimal down payments. Unfortunately for them the market began to soften not long after and real estate developers were unable to resell them for quick profits.
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