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Nevada Nebraska rank: 46 90+ Day Delinquency Rate Foreclosure Rate April 2013 1.5% Unemployment Rate 1.0% 3.7% year ago 1.7% 1.3% 4.0% year-over-year change -8.6% -22.2% -7.5% Top County MerriCk CouNTy 90+ Day Delinquency Rate April 2013 1.6% Foreclosure Rate Larry DeCoursey RE/MAX Advantage - Aliante U.S. Dept of HUD Local Listing Broker Phone: 702-304-9800 Cell: 702-278-7778 Larry@team702.com www.TEAM702.com 2.2% year ago 1.6% 3.2% IN THE NEWS year-over-year change -5.2% -33.2% Top Core-Based Statistical Area LexiNgToN, Ne 90+ Day Delinquency Rate Foreclosure Rate April 2013 1.4% 1.7% year ago 1.6% 2.5% year-over-year change -13.7% -30.2% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the April 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary April 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. Nevada rank: 8 90+ Day Delinquency Rate Foreclosure Rate April 2013 5.3% Unemployment Rate 5.0% 9.6% year ago 7.2% 5.8% 11.5% year-over-year change -25.4% -14.6% -16.5% Top County Nye CouNTy 90+ Day Delinquency Rate Foreclosure Rate April 2013 4.6% 7.6% year ago 5.9% 6.8% year-over-year change -22.2% 12.1% Top Core-Based Statistical Area PAhrumP, NV 90+ Day Delinquency Rate Foreclosure Rate April 2013 4.6% 7.6% year ago 5.9% 6.8% year-over-year change -22.2% 12.1% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the April 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary April 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. 82 Metros Present Wide Range of Price Shifts, with Las Vegas Leading Gains While national home prices continue to post gains, Clear Capital's VP of research and analytics, Alex Villacorta, insists "granularity in home prices remains key." Regional prices increased across the nation over the three-month period ending in May, according to Clear Capital's home price report, however, metro prices were mixed. "While there's no questioning the validity of the recovery at this point, performances at the local level remained mixed when considering strength, sustainability, and relative positions to 2006 prices," Villacorta said. He suggested, "The diversity in price performance at the local level is mainly a function of the severity to which a particular housing market was hit during the housing crash." Consistent with this observation, Las Vegas and Phoenix continue to lead the recovery at the metro level. At a broad regional level, prices increased the most in the West—up 2.4 percent—and least in the Midwest–rising a scant 0.7 percent. The South and Northeast fell in between with gains of 1.1 percent and 0.8 percent, respectively. At the metro level, Las Vegas outpaced Phoenix as the metro with the greatest price gain on a yearly basis. Phoenix held the top rank in Clear Capital's metro study from April 2012 through April 2013. Las Vegas posted a 27 percent price gain over the 12-month period ending in May. However, home prices in the area are still 57.1 percent below their peak. In fact, even at a continued rate of 27 percent, which Villacorta deems unlikely, the Las Vegas market would take four years to match the peak price level reached in 2006. Phoenix experienced a 25.7 percent increase during the same period; its prices are 45.9 percent below their peak. Las Vegas also topped the list of topperforming markets for the rolling quarter ending in May with a 4.5 percent gain. Looking forward, Villacorta expects the upward trajectory across the nation to "moderate over the near term," which will "provde a sense of stability that is essential for both consumers and lenders, as it allows for both parties to calibrate to the current housing landscape," he explained. Nonprofit Warns of Misleading Short Sale Program Claims A nonprofit advised distressed homeowners to beware of misleading claims concerning short sale programs that guarantee owners they can stay in their home and buy it back later at a discounted price. The Heartland Coalition, which operates out of offices in Las Vegas and San Diego, says such short sale programs have a very small likelihood of receiving approval. According to the coalition's HEART program administrator Alan Cassell, programs that claim to guarantee homeowners can stay in their home or buy it at a discount after a short sale to a nonprofit are "very misleading." The short sale programs rely on a special exemption offered by the government's Home Affordable Foreclosure Alternatives (HAFA) program. While most short sale transactions must be between parties who do not have a relationship, HAFA allows for an exemption to the arm's length rule in some cases that involve a nonprofit that buys the home via short sale and then leases or sells the property back to the homeowner if the bank approves and all HAFA guidelines are met. According to Heartland, this exemption is granted in 2 to 5 percent of cases where the bank does not restrict the transaction. In most instances, the nonprofit says homeowners actually end up moving out of the house and the nonprofit sells the home to someone else. For homeowners seeking assistance with their mortgage problems, Cassell offered simple, straightforward advice: "It should be free and with no guarantee . . . (since there is no guarantee) . . . and if asked to pay, you should walk away."

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