As Nevada leads the nation in foreclosures for the time being, scammers have emerged with all kinds of crazy schemes to allegedly save troubled homeowners. Don’t become a victim.

Think the foreclosure situation doesn’t affect you? As the housing market slows statewide, the ripple effects are becoming more and more obvious for business and government.

And is wholesale lending perhaps on its deathbed?

Meanwhile, for three days only, Oct 19-21, Pulte plans to offer "shocking incentives" on their Reno/Sacramento inventory, and no payments for 12 months, according to their email blast.

Just for fun, here is another housing prediction, this one from Lou Barnes writing for Inman News: "A lot of good historical and current data
suggest that bottom in housing sales and prices is not far away –
maybe a year. Recovery is a different matter. In the bubble zones, as
in inventories worked off and appreciation restored…? Try a minimum
of five years, in many … 10. Minimum. That lesson lies in the
MSA-by-MSA history at www.ofheo.gov.

"The foreclosure top? Probably five years — not minimum, but likely.
The best data is in my backyard. After two lovely booms, 1974-83 and
1991-2001, Colorado’s two foreclosure countercycles took a little more
than five years from boom-end/price-peak to foreclosure top. The good
news: Foreclosures even in the annual range of 4 percent of households
seem to do little damage to the local economy. So it has been here."

Given recent drops in market value, one astute reader comments: "I was looking at my tax assessor statement today, and tonight was wondering if we should all expect refunds.  We were taxed for the 2007-2008 tax year, on the THEN current assessed value.  But seeing that our homes have declined in value by 15-20%, we are all now over-taxed.  If we all start making a public stink over it, do you think we will see a rebate, LOL?!?"

Thanks to Reno Ignoramus and Incline Jim for the links.