As we report on the Trustee Sale every month you can either go back to view the previous months blog for the Clark County Trustee Sale or just follow the graph below. Commentary on the market events is included in each blog. For convenience sake we will track trustee sale action within our targeted zip codes on this graph for each month going forward. Readers will be able to compare data from month to month in one report.
Silverado Ranch Homes led all other master plans with 452 homes slated for auction at the trustee sale last month. This is up from 407 homes the month prior. The number of homes scheduled for auction depends on so many factors: whether homes are in the foreclosure process, whether homeowners are able to make alternative arrangements with the bank or if they file bankruptcy and then sometimes the bank makes decisions that will affect the auction. There are several possible results at the auction. For the Silverado Ranch area the results were that 94 sales were canceled, 236 sales were postponed, 26 homes were sold to a 3rd party, and 97 were sold back to the bank.
The numbers I am about to discuss for Henderson Homes at the Trustee Sale actually do not include all parts of Henderson. I like to identify the master plans of Green Valley Ranch and Anthem separately as shown on the graph. Zip Codes 89011, 89012, 89014 and 89015 are the areas designated as Henderson. The total number of homes scheduled for sale was 716. Of those 124 sales were canceled, 403 sales were postponed, 41 sales were completed with a 3rd party buyer and 148 homes were repossessed by the bank.
On a side note the total number for all of Las Vegas Real Estate are quite astounding. For June 2010 a total of 10, 325 homes were supposed to be auctioned at the Trustee Sale. Of those sales 2001 were canceled, 5692 sales were postponed, 593 homes were sold to a 3rd party and 2039 homes were sold back to the bank. The pipeline is backing up substantially.
