Banks allowed to foreclose on Las Vegas and Nevada

 Prior to the enacting of Nevada law AB284 October 2011, foreclosure Notice of defaults were at approximately 4-5000 per month. Post AB 284 we settled around 2200 per month after the shocking low on October 2011 of 80.  June 2013 they dropped to under 400. Many people are looking at that low number and reading too much into it. July 15 they ramped up again. The nice Governor man signed AB300 which allows foreclosure without the physical possession of the note effective July 2013. The banks have had to adjust fire once again and figure out how to live by the rules and the ways and the means of da gubernment. We should see an increasing number of repos coming onto the market in late fall 2013 now that they have their ducks in a row. read more   More Fodder to our feeling prices may soften in 2014. Just add higher interest rates. What do we know though. Remember, You can’t tell anyone anything! To read the entire post, click here.