Sales of foreclosed properties in the Las Vegas area, which amounted to about 50 percent of all residential sales just a few years ago, have declined steadily.

1. Shari Sanderson:
Las Vegas Real
Estate Market Still
Turbulent

2. About Shari Sanderson
Shari Sanderson, director of
foreclosures and distress sales at Award
Realty, has been dubbed the “Vegas
Foreclosure Vulture.” She locates great
deals for her clients in condos, lofts,
high- and mid-rises, and luxury estates,
including houses.
Shari Sanderson lists her numerous
available properties on her website at
www.sharisanderson.com.

3. Las Vegas Real Estate Market
Still Turbulent
Sales of foreclosed properties in the Las Vegas area, which
amounted to about 50 percent of all residential sales just a few
years ago, have declined steadily. Industry observers note that
while foreclosures’ share of the market has dropped to just
under ten percent, the reason for this is not a decline in the
inventory of foreclosed properties but rather a bottleneck in the
way foreclosures are processed.
Nevada’s “robosigning” law changed the way banks handle
foreclosures, imposing additional documentation requirements.
Lenders are anticipating working with the legislature to iron out
some wrinkles in the new legislation, following which a flood of
foreclosed properties is expected to hit the market. However, in
the meantime, great deals on foreclosed properties are still
available.