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April 19, 2014

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Nevada leads nation in sale of foreclosure homes

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.

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  1. yah know who cares

  2. 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"

  3. "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..."

  4. 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.

  5. hermit -- the threshold point is really quite simple, no? You have my respect, at least for now.

  6. 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.

  7. "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