Friday, December 19, 2008

Clark County Foreclosure Stats

Over 60,000 Clark County (Las Vegas) homes are in some state of foreclosure

- 28,316 are Bank Owned
- 10,853 are up for Auction
- 21,173 are in Preforeclosure

RealtyTrac - Las Vegas Foreclosures

Increasing unemployment will make matters worse

Recent post w/LV housing graphs

1/2 Homeowners w/mortgage are now upside down


Anonymous said...

Bank of America and Mr. Higgins missing $millions, It can happen to you, my fellow Americans

More info:

olecapt said...

Again a problem with numbers.

There is no way that the lenders own 28,316. In fact it is something less than 15,407. That may well be the total number foreclosed...but half or so have already sold.

It is however a sufficiently imposing number without doubling it. Keep the pipeline filled for another eight months or so.

Did a little analysis of the SFRs in 89134. Total lender owned was 76 homes out of 10,321. So at least some areas are relatively unaffected. Or better relatively unforeclosed. Price of the median in that zip those is down 19% yoy as opposed to twice that or more in the badly hit zip codes.

olecapt said...

Checked a half dozen of RealtyTracs older listings as bank owned. None were. Realty Trac is simply not updating their data.

Love with stuff. The statistics are never correct.