Vegas Home Values Continue To Slide
The year 2011 ended the same way 2010 did in regards to home values in the Las Vegas area. Down. Some places across the Valley dropped as much as 30% in 2011, as the outlook continues to cause concern for sellers.
Investors continue to pounce on property as the value of a home continues to slide. Since the peak level of home prices, the cost has dropped 60%.
Seemingly, the least volatile way to complete a transaction is privately, keeping the financial institutions out of the deal. Cassandra Patterson of Chase Bank told KXNT the unwritten rule when it comes to avoiding a foreclosure. “Three months (of savings) is a good place to be, but sometimes that’s still not possible. If you have depleted your funds and begin to dip into your 401K or savings, you really need to go and talk to someone.”
The price of a home dropped about 11 percent from 2010 to 2011.