Clark County Nevada Notice
of Trustee’s Sales
Through July of 2009
In my previous post I covered the chart of the Number of Notice of Defaults filed in Clark County that was provided by First American Title of Nevada that you can read by clicking the following link: Notice of Defaults for Clark County, Nevada.
Notice of Trustee’s Sales
Through July of 2009, the chart to the right shows the number of Notice of Trustee’s sales that have been filed in Clark County, Nevada. Once this is filed and a date is scheduled, the real estate owner has another 30 days before the scheduled sale and the Mortgagee takes title to the property.
Once the Mortgagee takes title, they then file a Notice to Quit to insure the legal process of evicting homeowners is followed. (Generally.. homeowners that have stayed past the actual Trustee’s sale have another 30 days.)
Obviously… you’ll notice the sudden increases that took place in June and July of 2009. This is partially due to the foreclosure moratoriums that took place and delayed the foreclosure process that was mentioned in a post I did back in February.
The latest numbers being reported for the number of Notice of Trustee’s sales being recorded is suggesting that more Bank Owned Homes in Clark County are on the way as the Banks get them ready for sale.
Remember the time frame of what happens after a Notice of Trustee’s sale is filed. Also keep in mind that the $8,000 tax credit for new homeowners is set to expire on December 1st. (Homes must close by November 30th for new homeowners to take advantage of this program.)
Paul Francis, CRS
Prudential Americana Group-Realtors®
Las Vegas Real Estate
*Information deemed reliable but not guaranteed. The number of Notice of Trustee’s Sales supplied by First American Title from the Clark County, Nevada Recorders office.