Like 70 percent of Las Vegas homeowners who are upside-down on home values, anyone who bought raw land in the last decade as an investment is probably thinking about letting it go back to the bank, if they haven’t already done so.
Distressed land sales have become the standard in Las Vegas, resetting price levels to 10 or more years ago and influencing appraisers to be ultraconservative with their valuations.
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source: lvrj.com
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