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Free List of Foreclosures for Sale in Las Vegas
A report released Friday by Las Vegas REALTORS® (LVR) shows local home prices continuing to set records, although they are rising more gradually than earlier this year. LVR reported that the median price of existing single-family homes sold in Southern Nevada through its Multiple Listing Service (MLS) during October was $410,000. The median home price is up 20.5% from $340,200 one year ago. That tops the record high set the previous month by 0.9%.
With government-imposed restrictions on evictions and foreclosures, the number of so-called distressed sales in Las Vegas remains near historically low levels! LVR reported that short sales and foreclosures combined accounted for just 0.3% of all existing local property sales in October! That compares to 0.9% of all sales one year ago, 2.4% of all sales two years ago, 3.0% three years ago and 5.2% four years ago.
Included below are the most recent foreclosures for sale in Las Vegas . If you would like more information on any of these Las Vegas real estate listings currently on the market, just click the "Request More Information" button when viewing the details of that property. We can provide you with past sales history, dates and prices of homes recently sold nearby, and more.
And, if you haven't already, be sure to register for a free account so that you can receive email alerts whenever new foreclosure listings come on the market.
I look forward to helping you out!
Foreclosures for sale in Las Vegas October 19, 2022
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184 184 people found this article helpful Updated on April 11, 2020 Real estate agents are not the only ones that can suss out a great deal on foreclosed or distressed homes. Using this list of free, searchable online databases, you can find homes that are in foreclosure, in preforeclosure, REO (real estate-owned), seized, and distressed, too. Most of
these services are offered for free or with a small subscription that usually includes a free trial period. Here's where to point your browser to find the right property for you. Justin Sullivan / Getty Images An REO is a property that has reverted back to the lender after a foreclosure auction has not found a buyer. This does not mean the property is in such a bad state that no one wanted it; it means only that the required opening bid was not met. You don't have to be a real estate agent to find a foreclosure to buy
For Bank REOs
The required opening bid for an REO auction is typically the outstanding loan amount.
When the loan-to-value ratio is high, the property might not attract bids, and the asset reverts to the lender. Bank REOs can be great values in the real estate market. Likewise, they can serve up some real stinkers, so be thorough in your research. Here are a few sites to check:
- Bank of America REO
- CitiMortgage REO
- Fifth Third Bank REO
- Huntington REO
- PNC Financial Services REO
- SunTrust Mortgage REO
- Wells Fargo REO
This list includes well-known banks that cover national or regional areas. You can find other bank-owned properties by searching for the bank's name plus the term REO (for example, MyBank REO).
For Government-Owned Properties
fstop123 / Getty ImagesBanks and property lenders are not the only ones who own real estate that has been foreclosed on. The government has a stockpile of REOs, foreclosed homes, and property that it acquires through various means, including loan guarantee programs such as the FHA (Federal Housing Administration) and VA (Veterans Affairs). The properties are available through conventional sales and auctions. You'll find many of these at:
- HomePath—Fannie Mae-owned foreclosures
- HUD REO—Housing and Urban Development-owned real estate
- HomeSales—Government-owned foreclosures and seizures
- USDA-RD/FSA—Rural Development and Farm Service Agency REOs
- IRS properties—Homes, real estate, and other property that has been seized by the IRS
In addition, your county or city government likely has its own foreclosure list. Ideally, they share this on a website; if not, you'll have to make a trip to the county or city clerk.
General Foreclosure, REO, and Distressed Property Listings
By Daniel Case - Own work, CC BY-SA 3.0/Wikimedia Commons
A few services compile foreclosures, REOs, and other forms of distressed property into searchable databases. Some provide the listings for free; others use a subscription model that lets you search their service for a period of time.
In most cases, basic information about a property is available even if you don't subscribe. Typically, though, subscribers have access to a good deal of additional detailed information about the status of properties, such as conditions, histories, and concerns.
Some services to check out include:
- RealtyTrac REO—Free trial, then monthly subscription
- Foreclosure Listings—Seven-day trial, then monthly or annual subscription
- Foreclosure.com—Free trial, then weekly subscription
- Equator—Free, with the ability to save searches and properties, access maps, and more
Real Estate Agents, Brokers, and Property Services
Respres/flickr (CC BY 2.0) via Wikimedia Commons
The age of property agents being secretive about foreclosures, preforeclosures, distressed properties, and REOs is long gone. Nowadays, listing these types of properties is just another way to attract buyers. That's why most real estate services now offer easy access to their databases of distressed properties, such as these:
- Realtor.com—The officially licensed home for the National Association of Realtors provides free access to its property search engine. Predefined filters pull out foreclosures, properties that have seen price reductions, and affordable homes in communities you search. You'll also find recent news and insights about distressed properties.
- Trulia—Offers a well-designed search system that includes a predefined filter for finding foreclosures in communities you search. To find foreclosures using Trulia, perform a basic search by town, then use the More search filter and select Foreclosures for the type of sales listing.
- Zillow—Here, you'll find a foreclosure center with access to advanced search capabilities using a number of criteria, including by cost (or cost estimates), neighborhood, and more. Buying guides, FAQs, and even a guide for those who may be facing foreclosure round out Zillow's offerings.
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