Home loans due or in foreclosure have now hit 13.78%. For reference sake: in the Great Depression homes fell in value 25.9% (1929-1933). In the current housing market, homes nationally have dropped 25%. All Many people believe that by the time this housing depression is over the total value loss will be far greater than ever the Great Depression. There are currently 13.9 million underwater homeowners, 25% of all owners with a mortgage are now underwater.

 NEW foreclosure filings hit a record high, and the number of foreclosures are growing due to delays caused by foreclosure-gate, and Nevada is no exception.

Recently Lawrence Yun, NAR Economist said this: ” …either home prices will stabilize..foreclosures and strategic defaults will lessen and underwater homeowners will gain hope..and consumers will start spending…or….home values will drop…meaningfully”

Not the best news, but it is news, and since everyone of us in the Carson Valley real estate market are impacted by the current real estate mess, (especially in Nevada) It's best to stay abreast of it.