Now he is telling people not to come to Vegas. I hope he knows people live here too. It hurt our city last time he said that. Las Vegas has one of the highest foreclosures. We need our economy to grow as well as all the other states.

I lost 50% in 3 years. Sorry, I asked a question yesterday about this, got some very good answers, but don’t know how to respond to my own question. Sure, people wait in line for the fanciest new things. Sure, there are Paris Hilton types, but for me and everyone I know here in Vegas (most in Real Estate), we are hurting. Probably 90% of my friends (even experienced brokers) have lost their homes this year. The gap between the haves and the have-nots has grown this year. So, it is not just me.
Yes, I understand I was part of the feeding frenzy. I got divorced, sold my large home and bought a little one, thinking I would make a profit. I’ll survive. But we are in a depression. I see a lot of desperate people here in the regular areas (not the Strip). Foreclosures are everywhere and people can’t get jobs. It’s bizarre. I lived through the recession of the early 90’s in CA, and it was nothing like this.

” It is not uncommon for the Libbie’s to up root from a state they have destroyed, only to go to another state and do the same thing over again- expecting different results. California, Nevada, Michigan, New York, Washington, Oregon, and many others are liberal run and a mess. The taxes are outrageous for the failed social programs, unemployment is high, foreclosures high, and the economy’s are bankrupt or on there way. Texas financially has remained strong, thus the Libbie’s are on the move to run them into the ground next. ”

http://www.newmarksdoor.com/mainblog/2009/11/the-red-states-revenge-is-coming-blue-state-exodus.html

http://www.forbes.com/2009/11/02/blue-state-middle-class-exodus-opinions-columnists-joel-kotkin.html
” You made a good point indirectly. Liberals make states bluer by fleeing blue states and into red states. Things get so bad in states like CA, that they flee like mice from a flood to the nearest red state….the irony is they vote for the same policies they were fleeing from. Shows the genius of th average Dem voter.

I recall two years ago when CA dems were moving to NV in mass…the local paper did a poll asking why they were leaving CA…the #1 answer by a margin of 4 to 1 said TAXES were to high in CA….but when they get here to NV they vote for Dems who in turn raise there taxes.

Hmmm, kinda makes you wonder what all these dems will do when they have nowhere left to flee too. ”

So I know this question has been asked on here a couple of times, but I have yet to find the same situation as I am in. I have had a suspicion for the past couple of months that the owner of the rental house I am in has been in default. I have contacted my rental agency on numerous occasions questions the owner default and have always been told "it will be taken care of, the owner assured me of this". However, for the past week, I have been having many knocks at the door with people dropping off ads to help stop foreclosure. I checked realtytrac.com today just to ensure my suspicions were correct and sure enough, I was right. Only, it turns out our rental home will be going up for auction next Wednesday! I have not been notified about anything and I understand that this is normal, but I am exremely frustrated. I am meeting with my agency tomorrow to discuss my findings, but I wanted to get some opinions. Is it normal for an agency to return a deposit when one of their clients goes into default? My contract is with my rental agency, not the owner, so I would assume my circumstances will differ a bit than it would through the owner. Also, if the house is being auctioned on Wednesday, does this mean I have until then to vacate? I understand that sometimes whomever purchases the home will sometimes decided to keep the renters, but I do not want to chance being told to vacate with a 3 day notice. Also, I have heard from a couple of people that I can collect any rent that I have paid since the owner has been in default. I’m not sure I believe this, but someone on here knows? Has anyone experienced this or have any advice? BTW, I am in Nevada, so I’m not sure if the law differs here with regards to foreclosures. Thanks for any help in advance.

The property is set for auction in 30 days. We haven’t paid him for this months rent(because he is avoiding us) our lease was due for renewal in jan. but was never signed due to his avoidance of all calls. and the property we are moving into wont be ready until 10 days after the bank takes over. My question is: what are my rights I feel we are just in limbo, am i in default of lease for not paying? we dont intend on giving him anymore money and will i be able to stay until our other property is available. las vegas nv.
16 hours ago – 3 days left to answer.
Additional Details
14 hours ago

NRS 118A.250 Receipts for security, rent and other payments. The landlord shall deliver to the tenant upon his request a signed written receipt for security and any other payments, deposits or fees, including rent, paid by the tenant and received by the landlord. The tenant may refuse to make rent payments until the landlord tenders the requested receipt.

(Added to NRS by 1977, 1335)

i am not a lawyer but i came across this. he has not came by to pick up the rent as agreed upon for rent money transfer therefore i can not get a reciept. no one told us of the default of loan to let us know but do to recent scare of foreclosures we researched public domain on the assessors site that it is in default he had no intention of even letting us know. thank you all for your replys to this matter
14 hours ago

NRS 118A.210 Rental agreements: Payment of rent; term of tenancy.

1. Rent is payable without demand or notice at the time and place agreed upon by the parties
he is not returning any of our calls since the first of feb and he always shows up to collect rent at our door we pay cash and have all reciepts.

We purchased a home at the height of the housing madness in Las Vegas 4 years ago. It’s now worth nothing and if we were to sell it we’d owe around 120,000-150,000. Factor into that the ,000 we are in debt due to medical expenses and refinancing our adjustable mortgage (thinking we were doing the right thing 3 years ago) and paying for the mortgage many a months with credit cards…. so we see this can’t go on forever. Only option that makes sense is to foreclose on the house and then turn around and file for bankruptcy. Don’t know anyone who has ever done this, and we have never had debt problems like this ever before. We are young (late 20’s and early 30’s) and have three children. Can anyone offer words of advice as we start down this road? Where can I go to find up to date accurate information on foreclosures and bankruptcy and the ramifications of the two? Do we stop payments on everything we are paying on right now? We have not missed any payments yet. Your help is greatly appreciated. Thank you in advance.

Foreclosure Rate Lookup Chart
http://www.realtytrac.com/foreclosure/foreclosure-rates.html

When you look at this chart, you discover the states with enormous problems with illegal aliens are the places where the foreclosues are going strong. California, Idaho, Nevada, North Carolina, Utah, Virginia and Wisconsin have big illegal aliens populations. Notice Oklahoma, who has strong defenses against the illegal aliens also has forclosers that are higher than other states. Oklahoma passed all the good laws to get the illegal aliens out of town. I would attribute Oklahoma as being as it is because homes bought for renting to illegal aliens have finally reached their just reward.

But here we are with states that were really hot with the ITIN Loans being buried with the foreclosures.

An easy to read graph that reflects per capita foreclosure.. per person.
http://www.realtytrac.com/MapSearch/FreeSearch.aspx?

I own my home free and clear. I have two other homes, with mortgages, that are in a family trust. My sons live in one and my sister lives in the other. I make NO money on either of them. The rent is a wash or less. I am in the real estate business in Nevada in the worst hit area in the country in foreclosures. I am making no money. I am just turning 62, but the money I would collect in SS would not cover my credit card bills as I have had to live on them for the last 2 years. IF I stop paying my CC bills can the Credit card companies MAKE me sell my houses? That is all I have left, and my family lives in them… I have always tried to do the right thing and paid my bills. My FI-CO has been ABIT 780 and NOW what??? HELP I am at my wits end….I just don’t know what to do…

I am about to buy a foreclosure in st george utah. I have a hard time finding alot of information on the southern utah market. I have followed it for 5 years but it does not fit into the trends of any other major city nearby. It is a whole seperate market from salt lake city. It is close to a phoenix or las vegas but it has very few jobs and econmy is so different. About 5 years ago houses were available for cash types prices with many under 100k. Then the prices went over 400k, now they are back in the 225-250k range.
I have watched anf there are more foreclosures coming but the majority are upper end 500k+ custom homes. I only want to pay 250k or less preferrably 2225k or less. With few jobs will the market fall alot more. Will land prices ever fall? Most land is BLM so developable land is a preminum. There is 37 year supply of lots but prices remain over 100k for .25 acre plus impact fees are over 20k some places over 30k to build with strict restrictions so building new is out.

Three of my neighbors who were renting and waiting like us re buying this month as well so is it time?

I just am curious if anyone besides a local realtor who is trying to sell has any views of southern utah.

considering their loaning to illegals?
More Information on the Role of Illegal Aliens in the Financial Crisis

The Sub-Prime Mortgage Mess and Illegal Aliens

Politically Correct loans and low interest mortgage policies(remember Freddie Mac, Fanny Mae, and anti-redlining?) helped fuel the financial crisis by making race-based loans regardless of the borrowers’ financial status or ability/desire to ever pay the mortgage. Even worse, there is evidence that the core of the problem may have been illegal aliens and the rush by business to get their government guaranteed money, the GOP desire for amnesty because these new homeowners might vote Republican (the Bush-Rove Strategy, see link below), and the Democrats seeking new voters, legal or not.

It is no accident that the bulk of the foreclosures, and thus the financial crisis, originated in California, Nevada, Arizona, Texas, and Florida; states burdened with the most illegal immigrants.
The word is Illegal not undocumented!