ForeclosureRadar, a provider of information on properties in every phase of the foreclosure process, has released its Foreclosure Report for August 2012, and Nevada is one of the states featured in the report.
The August report shows foreclosure starts are down dramatically across the Western states, with Foreclosure Radar’s CEO saying…
We continue to see reports that there will be a wave of foreclosure sales after the election or at the start of the year,” stated Sean O’Toole, Founder & CEO of ForeclosureRadar. “The lack of Foreclosure Starts this month puts a nail in the coffin of this theory. There will be no wave of foreclosures for at least five months. The good news for investors and first-time buyers is that Foreclosure Sales have at least remained flat or slightly up, continuing to provide some opportunities in the meantime.
Check out The Foreclosure Report – August 2012 and be sure to check out the link that allow you to drill down on foreclosure stats by county, city or ZIP.
booch221
There will be no wave of foreclosures for at least five months.
I guess this means we should all wait at least five months before buying.
Brandon
I wouldn’t home prices have been steadily going up for months now
Catherine
*sigh* – it would be nice if we could see how many foreclosures there really are without last October’s legislation.
Matthew
Home prices won’t ever go down again. It’s not possible. Just look at how much taxpayer money is being lent to less-than-credit-worthy buyers with no down payment.
What could possibly go wrong?
You’d better buy before you’re priced out forever!
booch221
Ten cities that just can’t turn housing around
Reno doesn’t make the list, but Las Vegas does.
Guy Johnson
Thank you for sharing the link, booch221.
E.Edward
Yep QE-3 and 30-year bonds are getting pummeled, Just keep buying…..suckers!
Matthew
@E. Edward, I don’t think real estate buying is for suckers… I just think people need to understand that prices and inventories are heavily manipulated.
If you’re buying for the utility of a place to live, and you’re not borrowing to the hilt, of if you’re buying for a productive asset… then I still think there are deals to be had.
The problem, imho, isn’t with real-estate as an asset class. It’s with government policy manipulating private credit markets and abrogating property rights.