Nevada leading country in foreclosure sales

Search news

Nevada leading country in foreclosure sales

December 3, 2010 - Distressed sales are loosening their hold on the Nevada real estate market, though the state still comfortably led the country in the percentage of buyers moving into foreclosed homes.

Almost 54 percent of all home sales in the state during this year's third quarter came on foreclosed properties, reported RealtyTrac. That was down from roughly 56 percent during the previous quarter and 62 percent a year earlier. Nevada buyers moving into distressed properties during the third quarter enjoyed average discounts of about 19 percent compared to the price of homes not on the foreclosure market.

Distressed sales accounted for 47 percent of all sales in Arizona during that time period, down 27 percent from the previous quarter, while almost 40 percent of all home sales in California were on foreclosures. Distressed properties also made up more than a quarter of all home sales in states such as Massachusetts, Florida, Georgia and Michigan.

Nationwide, demand for those properties dropped, with roughly 25 percent of all home sales coming on distressed properties.

"The expiration of the homebuyer tax credit in the second quarter created a substantial dip in overall buyer demand in the third quarter," said James J. Saccacio, chief executive officer of RealtyTrac.

Overall, Nevada's home sales activity has been sluggish. MDA Data Quick reported that October home sales in the Las Vegas area dropped 7.4 percent from the previous month.

Recent Articles

Actor Hayden Christensen selling Studio City pad

Star Wars fans may be surprised to hear Anakin Skywalker, also known as actor Hayden Christensen, may be calling for a moving company and selling his house in Studio City.

Friday, October 05 2012 15:15

Former pro baseball player Reggie Sanders selling SC beach house

Reggie Sanders list of properties is almost as extensive as his list of teams, however, he appears to be unloading homes across the country.

Thursday, October 04 2012 13:25

Hollywood couple John Krasinski and Emily Blunt buy in LA

Celebrity news sites report actor John Krasinski and actress Emily Blunt may be comparing prices of moving companies around Los Angeles, as they have purchased a home in the affluent city of Ojai.

Wednesday, October 03 2012 13:25

Tips for prepping to move cross-country

When relocating across the country, those moving may need to take some extra steps for a more successful relocation.

Wednesday, October 03 2012 13:24

Singer Sheryl Crow moving out of Hollywood Hills home

The Grammy-winning singer Sheryl Crow has been buying and selling homes throughout the country, as she currently owns a waterfront home in Florida and recently purchased a large ranch-style home in Nashville, Tennessee, just last year.

Wednesday, October 03 2012 13:22

Related Categories

Foreclosures News

Prince's Minnesota estate now off the market
Updating a recent story, Prince's estate in Chanhassen, Minnesota, is no longer on the market. It had originally been listed as available at an upcoming auction due to mortgage payment failures.

Wednesday, April 27 2011 11:15

Soon to be the property formely known as Prince's?
According to the Star Tribune, Prince's property in Chanhassen, Minnesota, has entered into foreclosure, as the musician still owes roughly $368,000 on his mortgage.

Friday, April 22 2011 12:21

Some celebs' homes in danger to foreclose
Even some of the world's rich and famous aren't immune from the effects of foreclosure, and several have found themselves moving out of home after falling into mortgage issues.

Friday, March 25 2011 11:33

Builders highlighting risks of foreclosed properties
Homebuyers have been seeking out low-priced foreclosures and short sales when moving to a new home, a problem many homebuilders are now tackling through new promotional strategies.

Thursday, March 10 2011 10:19

Foreclosure sales prevalent in Western U.S.
A new report on foreclosure data from around the country showed a high number of consumers in western states were moving to distressed properties in 2010.

Tuesday, March 01 2011 10:56

Neighborhood Research News

Aspen immune from housing's pitfalls
A report says one Colorado community has bucked national trends and insulated itself from the price drops and market difficulties that have reduced home sales, encouraging more residents into relocating to the area.

Thursday, March 10 2011 10:21

Supply climbs in New York City and San Francisco
A new report shows families moving to New York City and San Francisco, have a higher supply of homes to choose from.

Wednesday, March 09 2011 12:03

Property values continued to drop in fourth quarter
With prices dropping at a steady rate through the fourth quarter of 2010, moving to a new home has rarely been as affordable as it is today, said a report.

Thursday, March 03 2011 10:13

Las Vegas home sales improve year-over-year
Home sales in Sin City improved from their year-ago levels for the first time in seven months, possibly a sign that families are again considering moving to Las Vegas.

Wednesday, March 02 2011 09:50

Prices in D.C. more stable than most cities
Those moving to Washington, D.C., in recent months have been enjoying the benefits of one of the country's strongest real estate markets. That fact became more apparent with the release of the latest Standard & Poor's report.

Thursday, February 24 2011 10:26

Real Estate News

Actor Hayden Christensen selling Studio City pad
Star Wars fans may be surprised to hear Anakin Skywalker, also known as actor Hayden Christensen, may be calling for a moving company and selling his house in Studio City.

Friday, October 05 2012 15:15

Former pro baseball player Reggie Sanders selling SC beach house
Reggie Sanders list of properties is almost as extensive as his list of teams, however, he appears to be unloading homes across the country.

Thursday, October 04 2012 13:25

Singer Sheryl Crow moving out of Hollywood Hills home
The Grammy-winning singer Sheryl Crow has been buying and selling homes throughout the country, as she currently owns a waterfront home in Florida and recently purchased a large ranch-style home in Nashville, Tennessee, just last year.

Wednesday, October 03 2012 13:22

Actor Christopher Meloni buys home in Connecticut
Celebrity news site Curbed reports former Law and Order star Christopher Meloni may be calling for movers as he will be relocating to Canaan, Connecticut.

Monday, October 01 2012 17:01

Former CA home of comedian Phyllis Diller up for sale
Celebrity news sites report the longtime estate of the late Phyllis Diller is ready for buyers, as it has appeared on the market with a $12.9 million asking price.

Friday, September 28 2012 17:54

1 Week Before Your Move

Apartment Decorating Tips: Cheap Ways to Spruce Up Your Pad

10 Questions to Ask Before Hiring a Cleaning Service

Auto Insurance: What You Need to Know

After the Offer: What You Should Ask Yourself

Relocation.com
In the Press

A Moving Company's Moving Story
June, 2012

Relocation.com's survey was recently featured on the front page of USA Today. The headline entitled "Moving in Hard Times" highlighted our results that moving and relocating behaviors were only moderately influenced by the economy.

Our lifestyle survey found that Americans are seeking smaller homes and a suburban lifestyle. These riveting results were recently featured on USAToday.com in an article entitled "American dream shrinks as smaller homes gain favor."

"This user-friendly site includes a blog and a subscription-only newsletter, too"

"Relocation.com provides you with all the tools you need to get quotes quickly from movers in your area."

The more you know, the better your move will go. Check out helpful articles by our pros.