[quote author="USCTrojanCPA"]
[quote author="winex"]
If you are talking about the national numbers for NODs and foreclosures, I saw a blurb somewhere about Nevada numbers being way down because of a moratorium on foreclosures. Of course this only pushes things to the right a little. You can only kick the can so far down the road before you run out of road.[/quote]
Las Vegas MLS listed have plummeted from over 25,000 homes in the early Spring to less than 10,000 homes recently (about 3-4 months worth of inventory.
Do you have a source for the moratorium you are talking about?[/quote]
I'll search a little more for you before I go to bed. But here is the first hit that I found.
From
http://www.lvrj.com/business/foreclosure-filings-fall-in-november-78949097.html
Las Vegas, which had been No. 1 on that list for four straight months, fell to No. 5. Nevada recently adopted a program that requires mediation before banks can seize a property.
Edit: Here is another reference. From
http://money.cnn.com/2009/12/10/real_estate/Novermber_foreclosure_report/
He attributes the stabilization to mandatory mediation programs that some states have introduced. For example, in Nevada, where filings have declined for three months in a row, lenders are required to go through mediation with borrowers before moving forward with foreclosure documents. In many cases, Sharga said, these programs just delay the inevitable.