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Boulder City Not Following Foreclosure Trend | Housing

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Boulder City Not Following Foreclosure Trend
Housing
Boulder City Not Following Foreclosure Trend

Boulder City seems to be bucking the statewide trend when it comes to foreclosure filings.

New numbers released Thursday by the foreclosure tracking firm, RealtyTrac Inc., show that only one in every 264 homes in Boulder City received a foreclosure filing in August. In all of Clark County, the number was one in every 103 homes. In Henderson, the number was one in every 75 homes.

Nevada still leads the nation, with one in every 118 households receiving a foreclosure-related notice last month.

Foreclosures bring down home values and make it less likely that home buyers will buy because of fears that prices will continue to drop. Experts agree that until the glut of foreclosures are taken off the market, the housing industry will continue to founder.

RealtyTrac says around the country the number of homes that received an initial default notice jumped 33 percent in August. The spike is blamed on banks taking swifter action against homeowners. Banks had slowed the process in the wake of accusations of sloppy mortgage paperwork.  

The Associated Press contributed to this report.

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