Homes in Las Vegas, on average, have lost more than half their value since 2006. They now sell for less than they did in 2000. The city had a record-high 14.9 percent unemployment rate in December. It also led the nation in foreclosures last year.
Three out of every four sales in southern Nevada are foreclosures or “short sales.” These sales occur when a bank lets a homeowner sell a home for less than what’s owed on the mortgage.

Tags: Foreclosure, Las Vegas, short sale

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