The Las Vegas Foreclosure Tsunami

Well there are a whole lot of folks who believe that a large new wave of foreclosures is bearing down on Las Vegas.

Well not sure we believe it...but there are certainly enough people who do that it needs to be worried about.

So a new chart that should show pretty quickly if the foreclosure scene begins to get worse.

Here is the chart...and all you have to do is watch the size of the bars...if they start to grow a lot...worry...If they shrink...don't bother





What is being plotted is simply the number of cumulative trustee sales entering the tax data base in Las Vegas. These are the ones going to the lender.

Practically about 120 or so are sold each day in the MLS. So if there are more than 120 inventory will go up. If less it goes down..

And if the tidal wave hits...there are going to be some real big bars.

There is a 2 to 4 month delay between the time these homes hit the bank and when they actually get sold to someone else.

This will get updated every week or two. So check back and see if the big wave is upon us.
(Chart is kind of ugly - will fix)