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Wednesday, Dec. 1, 2010 | 9 p.m.
Sun Topics
The percentage of Nevada foreclosure homes sold in the third quarter dipped, but the state still leads the nation in those transactions, according to a report released by California-based RealtyTrac.
The firm said the 8,917 foreclosure sales accounted for 54 percent of all sales in Nevada, down from 56 percent in the second quarter and 62 percent in the third quarter of 2009.
The average foreclosure sales price was $135,221, which was a 19 percent discount from properties that weren’t sold as foreclosures, RealtyTrac reported.
Arizona ranked second with nearly 47 percent of all of its sales being foreclosure properties. That’s a 27 percent decrease from the second quarter. Arizona properties in some stage of foreclosure had an average price discount of 39 percent.
Foreclosure sales accounted for nearly 40 percent of all sales in California and the average discount was 39 percent, RealtyTrac reported.
Please turn out the lights when you leave.
My brother in San Diego asked me yesterday if I had gotten any foreclosure deals lately. See, a couple of years ago, the owners of the house next to me, hopelessly underwater, had stripped out counters, ceiling fans, patio stuff. Left it in the front yard. So I went over, got 2 ceiling fans and some other stuff, and installed it in my house. No idea why they left the stuff outside.
My point is that we're turning into a bunch of desperate animals, stripping out our houses before we mail in the keys, and run off to God Knows Where, USA. This town is definitely turning into Newark/Camden West, and it's not gonna' stop anytime soon. A living Hell, and I live in a decent area in Henderson. How 'bout them schools?
yah know who cares
Another feather that Harry Reid can stick in his hat...
Gee, that's great to say, "yah know who cares" but to those of us who have spent hundreds of thousands of dollars on our homes DO care...alot. I've lived in the Green Valley area over 25 years, in a good neighborhood and have now lost over 70% of the value of my home, am underwater considerably, lost all equity and am now stuck. I may not like Reid, but most of this was from "investors" and hot shots from California buying houses, flipping them and artificially inflating the price of homes....gee, thanks. Then they took their profits and ran back to California, not even staying to help our economy. Hope they choke on their profits made from Nevada. I'm tired of the blame game, but what I will say is this: if we don't get leaders.... honest, hard-working, INTELLIGENT, innovative...this city will die.....kaput, nada, see ya...buh bye!!! This crap of "what happens in vegas stays in vegas" continues to undermine any possible repair of our reputation. If the casinos and the mining industries do not step up and get off the greed bandwagon, then there won't BE any Las Vegas for people to come to...hence, NO casinos!!! We have to reinvent this city in order for it to survive..... No investors will come to a dead city.... get a clue you bigwig money grubbing casino and mine owners....since you are the only entities that are still making profits.....while business after business are closing their doors!
Well, it will only get worse since Reid was re-elected.
Again, no one posting so far seems to have a clue about Big Finance's massive fraud causing this wave of foreclosures. Rather than being a simplistic "if you don't pay, you don't stay" the truth is more like what Joe Lents said. It is no small thing to kick families out of their homes, yet it might as well be for the concern this bunch posts.
Hopefully our AG Masto's involvement in that NAAG's multistate group looking into these fraudulent foreclosures will yield something more than just another puff piece. Check it out @ http://www.naag.org/joint-statement-of-t...
Hopefully that group will actually stop the suits' feeding frenzy. I doubt it, since they're just more suits. Meantime ordinary people suffer on a scale not seen since the 1930s.
RICO, anyone?
"If you're going to take my house away from me, you better own the note." -- Joe Lents (who hasn't made a payment on his $1.5 million mortgage since 2002) in Bloomberg's 2/22/08 "Banks Lose to Deadbeat Homeowners as Loans Sold in Bonds Vanish"
and the analysts say...
we've bottomed and it's straight up from here...
and the realtors say...
now is the perfect time to buy...
hee hee hee...
hoo hoo hoo...
haa haa haa...
this was just another move by rich people to wipe out the middle class.
The banks don't really care that they appear to have lost money on paper. They are getting this money from the government and putting it in their pockets.
This just wiped out another 2,000,000 middle class people.
Feudalism is the long term goal for rich people. They have been very successful at achieving this goal ever since the reagan depression allowed this to start happening.
More pain is coming and job growth is a ways off. The only good news is that they'll be gridlock in Wash for the next 2 years.
Typical Liberal, blaming the "rich people" for their own shortcomings...
"Typical Liberal, blaming the "rich people" for their own shortcomings..."
LarryVegas -- more like "blaming the "rich people" for their fraudulent acts..."
"hee hee hee...
"hoo hoo hoo...
"haa haa haa..."
"Typical Liberal, blaming the "poor people" for their own shortcomings..."
"hee hee hee...
"hoo hoo hoo...
"haa haa haa..."
Lack of regulation: deregulate everything and mortgage fraud runs rampant. You think the public won't pay the price? Would have been much cheaper to pay for a few regulators, government employees. So let's be careful what employees we cut out now. We need the auditors etal. I'm retired so it's not a personal protection I'm advocating.
LarryVegas -- that's what I get for trading posts with a buffoon. Nothing you posted was relevant to this Discussion -- expect to be shunned.
Roseanya -- what we're seeing is just the opposite, regulators -- including AG Masto -- ignoring rampant fraud. It's all quite simple -- the foreclosers usually can't prove they own the loans, or in the case of half the mortgages out with MERS listed as "Beneficiary," foreclosure is a legal impossibility. That was covered here last year in http://www.lasvegassun.com/news/2009/oct...
Unfortunately the comments are gone. It was quite a lively exchange.
"LarryVegas -- that's what I get for trading posts with a buffoon. Nothing you posted was relevant to this Discussion -- expect to be shunned."
Sorry, Killer, but it was your post that resembled one of a jester. I was only replying in a similar tone.
Me being shunned is nothing new. You should see me at a family reunion...
I use to think KillerB was off his rocker with his comments about who holds the note. Now it seems that he was seeing what was happening all along. My apologizes to KillerB. What KillerB has been saying for a very long time seems to be the big story today.
hermit -- the threshold point is really quite simple, no? You have my respect, at least for now.
I suspect that the vast majority of notes are available to the foreclosing banks. The point being is that most folks don't care because they are financially up the creek without a paddle.
"I suspect that the vast majority of notes are available to the foreclosing banks."
saltydawg -- based on what?
Have a look @ http://www.nytimes.com/2009/03/01/busine...
"...I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." -- Thomas Jefferson in his May 28, 1816, letter to John Taylor