Search for Luxury foreclosures in Las Vegas Nevada

Las Vegas Luxury homes are not immune to foreclosure. As more and more people loss their jobs, the luxury market is seeing more properties falling in to Foreclosure..Savvy buyers are looking to capitalize on the downturn of the market by looking at luxury foreclosures. For more information please contact Felipe Crook at 1-866-589-1646

The foreclosure crisis that has hit Las Vegas especially hard, has also affected a normally immune section of the housing market- The luxury homes. While the numbers are significantly less than the rest of the market, there are still properties that are now bank owned at a fraction of the original price. Here's where we are in our market right now:

Las Vegas Housing Inventory July 2009: For 18 consecutive weeks, the number of properties listed as available has declined, reaching 13,028 homes by the third week of July. During the past week, listings dropped by 172 units, and compared to the same period of the prior year, listings fell by 9,224 units, or 41.5 percent (from 22,252 homes). Also during the past week, the number of vacant homes dropped below 7,000, which represents 53.5 percent of total inventory. Approximately 5,100 available units (39.2 percent of the total) are identified as short sales, suggesting sellers are hopeful to sell their property and also obtain a banks approval to reduce the amount they are willing to accept for payment in full on the mortgage. Stated otherwise, the market is currently reporting 7,900 available units that are not subject to lender approval (short sales).

For the full housing report of Las Vegas click here.

Below are the list of Luxury foreclosures in Las Vegas. I've included all areas of Las Vegas with properties that are already bank owned over $700,000. If you would like to do your own search of foreclosures in Las Vegas click here.

Felipe Crook

Prudential Americana Group Realtors

Las Vegas NV 89117

1-866-589-1646

http://www.lasvegasluxurypropertieslink.com/009A48