Housing
Aaron Kessler’s a desperate man. The Las Vegan has made nine propositions since February. He’s hired professionals to help him find the right one. Kessler’s quarry? A house.
Default notices filed against Clark County homeowners dropped 18 percent in June, while homes taken back by the bank fell by 8.8 percent, ForeclosureRadar.com reported.
Nevada Attorney General Catherine Cortez Masto said she has no regrets about passing the robo-signing law that has virtually brought foreclosure filings to a standstill in the state. She said banks are using the law as a “scapegoat,” allowing people to live in their homes for free.
While home prices remain depressed in Las Vegas, the metropolitan area is the nation’s No. 3 seller’s market, according to Zillow.com’s ranking of buyer’s and seller’s markets. Home sellers are thriving in San Jose, Calif.; San Francisco, and Las Vegas, where price cuts are uncommon and homes often sell at or near their asking price.
Latino households suffered greater loss of wealth during the economic downturn than their white counterparts, housing analysts said at the National Council of La Raza annual conference at Mandalay Bay. In the past three years, Latinos have lost two-thirds of their wealth, compared with 16 percent for whites.
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