According to reports recently released, local homes foreclosures have more than tripled in the past year. Experts say that Nevada is outpacing the national rate as Las Vegas home owners have succumb to rising adjustable-interest rates.

Many of the home are being foreclosed on by investors who have purchased homes in recent years.

Most buyers in this situation purchased with minimal down payments while the Las Vegas market was soft. Unfortunately not many of them were able to flip their properties for a profit once the market started to decelerate.

# posted by Las Vegas Homes Agent @ 8:20 AM

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Thursday, October 19, 2006

Decelerating Market Traps Some Investors