US Foreclosures Increase Over 80% in 2008
Las Vegas, Nevada recorded
the second highest metro foreclosure rate last year with over 8% of its
housing (one in 11) filing a foreclosure in 2008
NEW YORK, Feb. 5, 2009 - A total of
3,108,364 foreclosure filings in 2008 -- auction sale notices, bank
repossessions, and default notices -- 1,275,791 U.S. Properties over the
course of the year; an 82% increase in all properties from 2007, and a
240% increase in the total number of properties from 2006, according to
ForeclosureListings.com, one of the largest foreclosure listings
providers. Continue reading details about 2008 foreclosures.
 Jobs Driving the Las Vegas Real Estate Market
Thousands of new jobs arestill being created every month.
Las Vegas has an employment rate of 96.5% – and with new jobs being created at a rate of over 5,000 per month.
On average, Las Vegas homes sell in about
45 days. Well-priced homes in Las Vegas are often snapped up before
there’s time for the real estate agent to put up a sign. House and condo
prices continue to rise, setting new records every year.
With the Las Vegas job market predicted to
keep growing, and with available land for development being scarce,
experts are predicting the Las Vegas real estate market to remain hot
for the foreseeable future.
The Strip is showing growing pains.
Several new hotels are going up and others are building new towers.
Tourists have to detour around construction fences the Bellagio, Caesars
and others as they remodel and build.
The opening of the new monorail on July
16, 2004, links both ends of the Las Vegas Strip. For $3 each way (or
less), you can comfortably enjoy the four-mile ride. It is a tourist
attraction itself- a cheap tour of the Strip. Unfortuantely, the
monorail is out of order after a malfunction.
In downtown Las Vegas, NV., dozens of
businesses have just opened in newly constructed buildings or plan to
build new sites. A cultural arts center, medical center, restaurants,
bookstores and many other businesses are getting ready to move into the
downtown area.
The Las Vegas Premium Outlets recently
opened in the downtown areas with almost 130 shops. It is experiencing
tremendous sales and provides an alternative to the casinos.
Las Vegas Real Estate Index
Lake Las Vegas Resort Announces the Tom Fazio Course Rainbow Canyon Scheduled Ground in Early 2005
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