LV Foreclosure & Real Estate Market News
ByNevada leads the way with legislation to support distressed homeowners…AB 149 established the Mandatory Nevada Foreclosure Mediation program for Nevada homeowners with a Notice of Default filed after July 1, 2009.
See related posts for more info:
- Nevada Foreclosure Mediation Program Information and Help
- NV Mandatory Mediation Program for Homeowners in Foreclosure
It looks like a team of U.S. Senators who say they are “fed up with the mortgage modification efforts of the nation’s largest servicers” have introduced new legislature entitled the “Preserving Homes and Communities Act of 2009″. Read the full post here: New Bill Will Force Modifications and Restrict Foreclosures
More Informative links and news stories for the Week of October 28, 2009:
Q&A: Shiller Sees 5 Years of Stagnant Home Prices – Wall Street Journal Real Time Economics Blog
WSJ: Delayed Foreclosures and “Shadow” Inventory - Calculated Risk Blog reporting n WSJ article. Could we finally start seeing more inventory (foreclosed/REO properties) coming on the market? We may see a “spike” in the 4th quarter of 2009.
Case-Shiller House Prices increase in July An excerpt from this blog post…
In Las Vegas, house prices have declined 55.2% from the peak.
The debate continues – is the price increase because of the seasonal mix (distressed sales vs. non-distressed sales), the impact of the first-time home buyer frenzy on prices, and the slowdown in the foreclosure process (with a huge shadow inventory), or have prices actually bottomed? I think we will see further house price declines in many areas.
Related posts:
