Nevada has been ranked #1 in the nation for foreclosures for the past two years. Now, Las Vegas is ranked the #1 city with the highest foreclosures in the nation.. Approximately 10% of homes in Las Vegas are either in foreclosure or close to being foreclosed on. That’s a lot of troubled real estate. In addition, Las Vegas left Detroit in the dust in regards to having the most vacancies..

To the city’s credit, it does have many non-profit groups that host free foreclosure workshops several times a week. Typically packed to the max, the workshops are heavily attended by locals who are desperate for advice on how to avoid foreclosure.

Oftentimes, people have no grid for what high foreclosure rates can do to a community. In Las Vegas, many of the foreclosed and vacant homes are equipped with swimming pools. Abandoned swimming pools are a breeding ground for unwanted pests and debris and produce an odor of algae and decay. To counteract the problem, the county sends environment health specialists to infuse the abandoned pools with mosquito fish.

There are other distinctions left by foreclosures. With the vacancies, you hear the distant beep of smoke detector batteries dying. Animal shelters are at full capacity due to dogs, cats and other pets abandoned by owners after foreclosure.

The story of Las Vegas is one founded most recently on the true American dream – the cocktail waitress who was able to afford a new home, or the parking valet who made so much in tips he paid cash for a new Ferrari. The dream lived on for over two decades. The dream has come to end and reality is setting in for numerous Las Vegas homeowners.

We can only hope that things begin to level out for this diamond in the desert, and it is eventually restored to its previous brilliance … but much stronger!