It’s time for another edition of Haines & Krieger’s Las Vegas Foreclosure Round-up where we take a look at what’s going on with foreclosures in the Las Vegas area:
1. Top Foreclosure Bidder Cashed in on Las Vegas (Wall Street Journal)
An interesting short profile on Jonathan Griffin, who died on Sunday at age 27 after carving out a reputation as the leading bidder for foreclosed homes in Las Vegas. Definitely worth a read to get a sense of what’s going on and how things work in the Las Vegas foreclosure real estate market.
2. Nevada Bankruptcy Filings in January 2010 higher than in January 2009: State sees 14.4% jump (Las Vegas Review-Journal)
Bankruptcy filings are actually down from December 2009 to January 2010, but January traditionally tends to be the slowest month in terms of bankruptcy filings. (Or as UNLV law professor Nancy Rapoport says, bankruptcy numbers are usually "quirky" after the holidays.) Additional quotes in the article suggest it’s too early to know what direction things will move in 2010 but that the bankruptcy courts in Nevada are still quite busy.
3. Housing: Hope on the Horizon – Cash rich builders are buying land again, betting on a turn in the market for new homes (Business Week)
The good news: Things are starting to move again in the real estate market, including in areas hit hard by the foreclosure such as Arizona, California and Florida.
The bad news: No mention in the article of Las Vegas.
4. In Nevada, Begging for a Lower Home Value: Thousands line up before a Clark County board, hoping to get a reduced figure and a break on their property taxes (Los Angeles Times)
The article notes that Las Vegas is the only part of the country in a full-blown recession.
Haines & Krieger attorneys have been at the forefront of helping Las Vegas residents deal with foreclosure problems and getting back on their feet. So get in touch and let us help you figure out your best options for fighting foreclosure.