Las Vegas Foreclosed Homes Becoming Eyesores!

It’s never very difficult to determine which homes in a neighborhood are in foreclosure.  As you are driving through the neighborhood the homes that have brown dying grass, dying plants and weeds are probably in foreclosure!  Is it possible that these foreclosed homes have a negative effect on the rest of the neighborhood?  Absolutely they do!  Not only do foreclosed homes drive down the value because banks are pricing these homes very low to get them off their books, but the visual look of the property also affects the neighborhood.
 
The visual effect of the neighborhood is a significant aspect in the buying process for potential home buyers.  If a neighborhood has numerous foreclosed homes, the neighborhood is going to look poorly kept causing buyers to possibly look elsewhere.
 
So who is responsible for cleaning up these homes?  Once the bank forecloses on the home, they are now responsible for the up keep of the property especially if the home is located in a home owner’s association.  The homeowner’s association will send letters to the bank to clean up the property and if they fail to handle the problems, the homeowner’s associations will levy fines.
 
Next time you are driving in a Las Vegas Neighborhood and you see an eyesore, it’s probably a foreclosure!