[ddrhazy]

http://business.unlv.edu/uploads/fil...M_June2013.pdf

[VegasVicsezhowdy]

I am hearing that GSEs are going back now and looking at "strategic defaulters" who falsely claimed that they had experienced extenuating circumstances that effected their ability to pay.

Is there a statute of limitations for a deficiency judgement?

[lvoc]

Originally Posted by VegasVicsezhowdy

I am hearing that GSEs are going back now and looking at "strategic defaulters" who falsely claimed that they had experienced extenuating circumstances that effected their ability to pay.

Is there a statute of limitations for a deficiency judgement?

Six months on a non-judicial foreclosure.

Long term on shorts and equivalents....though a properly done short always kills the possibility.

Generally not rational as the seller goes BK.

Most shorters with money made sure it was killed.

I don't see this as a problem in NV or CA for that matter.

[Kevin_nlv]

Housing market inventory continues to grow with empty homes
Published: 6/13 9:28 pm
LAS VEGAS (KSNV & MyNews3) -- We turn to the empty house on your street--the one you may or may not even know is there.

News 3's Mackenzie Warren has more on this housing problem.

There are tens of thousands of vacant houses blanketing neighborhoods across the valley, yet the Las Vegas housing market is still thirsty for more.

A dying smoke alarm that continues to chirp but this has been the only sign of life in one particular home for the last four years.

There are thousands of homes that share the same story as this one yeah there are a lot of homes.

Tod Barton with Keller-Williams Realty says more than 45,000 empty homes in Las Vegas are just begging for buyers. The reason?

The banks haven’t foreclosed yet and there are tons and tons of homes that are vacant.

Housing market inventory continues to grow with empty homes - Las Vegas MyNews3 - KSNV

[lvoc]

Originally Posted by Kevin_nlv

Housing market inventory continues to grow with empty homes
Published: 6/13 9:28 pm
LAS VEGAS (KSNV & MyNews3) -- We turn to the empty house on your street--the one you may or may not even know is there.

News 3's Mackenzie Warren has more on this housing problem.

There are tens of thousands of vacant houses blanketing neighborhoods across the valley, yet the Las Vegas housing market is still thirsty for more.

A dying smoke alarm that continues to chirp but this has been the only sign of life in one particular home for the last four years.

There are thousands of homes that share the same story as this one yeah there are a lot of homes.

Tod Barton with Keller-Williams Realty says more than 45,000 empty homes in Las Vegas are just begging for buyers. The reason?

The banks haven’t foreclosed yet and there are tons and tons of homes that are vacant.

Housing market inventory continues to grow with empty homes - Las Vegas MyNews3 - KSNV

That number is the number of electric meters that are not active. What does it actually mean? That there are 45,000 housing units without power. Are they all awaiting foreclosure? Of course not. There are abandoned properties awaiting demolition. There are snow bird properties in the off season. There are rentals where the renter has failed to pay their bill. And there are abandoned properties that will be foreclosed and sold.

How many of each? No one knows. So what does it say? That less than 10% of properties have their power off. Not much else.

Personal observation - The number of abandoned SFRs is way down from two years ago. Then we often ran into blocks where half the houses were vacant and looked abandoned. We still see one every so often but they are much, much rarer.

[ddrhazy]

Originally Posted by lvoc

That number is the number of electric meters that are not active. What does it actually mean? That there are 45,000 housing units without power. Are they all awaiting foreclosure? Of course not. There are abandoned properties awaiting demolition. There are snow bird properties in the off season. There are rentals where the renter has failed to pay their bill. And there are abandoned properties that will be foreclosed and sold.

How many of each? No one knows. So what does it say? That less than 10% of properties have their power off. Not much else.

Personal observation - The number of abandoned SFRs is way down from two years ago. Then we often ran into blocks where half the houses were vacant and looked abandoned. We still see one every so often but they are much, much rarer.

I would like a more in depth analysis on the houses with no power going to them. Like you said, many could be vacation rentals that don't have power in the off season months. For a SFR that's rather unlikely if the house has plants to water outside. However, as an indicator of abandoned properties, it is probably the best indicator we have right now.

The methods the UNLV economics school has been using(getting meter readings from NV Energy) have only been going on for 1 year. Before that their estimations for vacant housing was much different(instead of 100k estimated vacancies estimated in 2011 Q4 in Q3 it was estimated in 50k because of a previous method they were using). The vacancies are going down at a rate of of 1k/month.

[Sloppy_seconds]

Originally Posted by VegasVicsezhowdy

I am hearing that GSEs are going back now and looking at "strategic defaulters" who falsely claimed that they had experienced extenuating circumstances that effected their ability to pay.

Is there a statute of limitations for a deficiency judgement?

YES!! And I hope this happens. Get them all!!

[VegasVicsezhowdy]

Originally Posted by lvoc

That number is the number of electric meters that are not active. What does it actually mean? That there are 45,000 housing units without power. Are they all awaiting foreclosure? Of course not. There are abandoned properties awaiting demolition. There are snow bird properties in the off season. There are rentals where the renter has failed to pay their bill. And there are abandoned properties that will be foreclosed and sold.

How many of each? No one knows. So what does it say? That less than 10% of properties have their power off. Not much else.

Personal observation - The number of abandoned SFRs is way down from two years ago. Then we often ran into blocks where half the houses were vacant and looked abandoned. We still see one every so often but they are much, much rarer.

How many properties were located and are currently occupied by squatters who went to the utility companies and had them turned on after presenting a false rental agreement?

[Kevin_nlv]

Dirty Secret Of Improved Housing Market

Home prices rising. Inventories falling. Glory days are here again.

But there’s a dirty little secret behind this recovery – big banks see an opportunity to get some of their money back.

The Mortgage Bankers Association says foreclosures are back on the rise. In fact, bank repossessions of homes rose 11-percent in May compared to the month earlier. Default notices were also higher.

And researchers explain this is happening for the very same reason that you’ve been feeling good about things – rising prices.

In this case, we need to think of banks as homeowners. Really big ones. And they want to unload troubled properties in a strong market after sitting on them for years.

Rising prices give them a chance to do that without losing as much money.

But of course foreclosures hurt home prices. And that could slow the housing recovery.

And the wheel goes ‘round.

Unfortunately this trend is not the only storm cloud hanging over the market.

Just look at mortgage rates. They’re already on the rise, topping 4-percent in the latest week for the first time in more than a year.

And economists fear they could keep rising.

[lvoc]

Originally Posted by VegasVicsezhowdy

How many properties were located and are currently occupied by squatters who went to the utility companies and had them turned on after presenting a false rental agreement?

Actually to the neighbors a nice squatter is a vast improvement. Hell even a well maintained grow house.

I expect you are well into fantasy land with your conjecture. But still better for the neighborhood than sitting there rotting.