According to real estate experts, the foreclosure filings were based on the records of April 2009, but the rest of US experienced a 27 percent fall. During the first quarter, the Las Vegas valley had 74.7 percent of its homes underwater and 2.9 percent going the negative equity border. About the same as it was during the fourth quarter of 2009. Based on real estate consultants, Nevada continued to be the nation’s top with regards to percentage of foreclosure filings for the 40th consecutive month.

Las Vegas remains the leader with regards to mortgages that are underwater. Even though foreclosures has been one of the factors for the home values to go down over the last three years, based on the level of inventory available and the foreclosures happening presently, there seems to be enough foreclosures to lower prices. At the most, it might keep home values at their present levels. Financial institutions have been working with homeowners in large numbers to make short sales possible by letting them to put their homes up in the market for less than they owe on the mortgage.