(Irvine, CA)  —  Foreclosures are down in Las Vegas for the first three months of 2012.  Market research firm RealtyTrac says one foreclosure notice was issued for every 82 Vegas homes between January and March. That’s a 26% drop compared to the fourth quarter of 2011. Sin City now ranks eighth in the nation for foreclosures, behind Stockton and seven other California cities.  Experts say the drop may be due to a new Nevada law that makes it more difficult for lenders to initiate foreclosures.

  1. Tim Allen says:

    You are spinning this story as if its a good thing. Because of the 284 Bill, Las Vegas has a home inventory less than 5,000!! We sell over 4,000 homes a month. The end result will be thousands of Nevada tax payers being starved out of Business. Realtors,Title companies,home warranty companies,inspectors,mortgage companies and Banks will all come to a halt in the next few months. While I feel for people who have to move out of their homes because they can no longer make the payments. Most have lived there for 12-36 months without paying a dime! The housing market has to purge it self in order to reset and move to a stable market. Only then will we start to flourish in all the things that the Real Estate market supports. Do a story on how our Attny. General created a Bill that is destroying the housing market even further and putting thousands of hard working Tax Payers on the street!

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