As more and more properties fall into foreclosure, our market continues to decline in prices. I've seen a significant decrease in inventory even in the last 6 months.  I wrote a blog post in November of 2008 where out total inventory of available properties were well over 21,000.  That number has decreased to 17,800 properties due in part to the moratorium on foreclosures over the winter months.  Well, that moratorium has been lifted and everyone should expect to see a new wave of foreclosed properties flooding the market in the next few months.  In March, Las Vegas saw a record number of foreclosure filings, with more on the way.   We are not out of the woods yet, but for those of you looking to capitalize on the market I would start gearing up for a great bargain sale on properties.

Even in the luxury market, properties are coming down from their 2006 highs and reaching as low as 1999 prices.  I consider a luxury home over $700,000 but there are plenty of incredible properties from $400,000 and up.   Below are a CURRENT list of properties over $700,000 that are bank owned or foreclosures.   If you'd like to do your own foreclosure search click the icon below or contact me for more information at 1-866-589-1646. 

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