So many homes in Las Vegas have been foreclosed upon that banks rarely bother to hang a "For Sale" sign on the front lawn anymore. Instead, visitors identify bank-owned properties by the brown grass and the 8.5 x 11-inch sheet of paper taped to the front door or the garage.
On a cul-de-sac in the once-pleasant neighborhood of Silverado Ranch, Larry Wood is the last remaining resident. Two of the four homes are in foreclosure and a third is a "party rental" only occupied by rowdy tourists on weekends. One of his neighbors made a few bucks before abandoning the home, he says. "They sold all the palm trees and just walked away from it," says Wood, sporting a "Freedom Isn't Free" T-shirt. "It's a great neighborhood. I guess that people weren't financially set up to get through the crash."
Wood takes little comfort in being the last resident. "Sometimes it's scary. There's a possibility someone would try to rob me and I wouldn't have any neighbors to help me," he says, recounting a previous attempted intrusion when his then-neighbor called to warn him not to answer the door because there was a group of thugs knocking. Armed and ready, he huddled near the door but the gang gave up and left.
Walking away is becoming a habit among law-abiding residents too. It's hard to find a home bought before 2009 that isn't underwater and very few landlords, when running credit checks, look for foreclosures or short-sales on a tenant's record. Otherwise, a manager couldn't fill a building.
Walking away is becoming a habit among law-abiding residents too. It's hard to find a home bought before 2009 that isn't underwater and very few landlords, when running credit checks, look for foreclosures or short-sales on a tenant's record. Otherwise, a manager couldn't fill a building.
I have a place in Vegas, it is way worse than this article states. You can be Robbed or Killed at anytime, anywhere off the strip. Crime, drugs, homelessness and prostitutes are literally everywhere, you cant escape any of it. This used to be paradise, Not so much anymore.
ReplyDeleteIn my neighborhood where I moved three years ago it was still developing. People filled up the houses pretty fast. About a year back the development ceased and everyone began getting foreclosed.
ReplyDeleteNow when I walk around the neighborhood it feels like I'm in an old western movie - it's a ghost town.
A plaza that holds a Khols and Target is always empty, there's about 20 cars altogether (with many other stores). This is even on Sundays! The lot is just empty.
On Fridays and Saturdays you can hardly see teenagers or 20 somethings driving around or heading to parties. The roads used to be flooded with drunk or stoned drivers on weekend nights in this country. Now they just grab beer or liquor and drink at a friends all night.
In malls you can come across people who stand out as being among the only people there! You can literally wave they'll acknowledge you rather than being so many people no one can notice you as it has always been until last year.
This country is on the event horizon of a black hole... there's no eluding what's coming nor will there be a coming back.
I too live here and my neighborhood is pretty sound so far knock on wood. We have a good association and although a few on the block are bank owned the majority are lived in and maybe it because it is an old neighborhood. Not too much riffraff here so I am happy. The casinos seem to be holding up. The one I work at is busy as heck right now this time of year especially cause we have a nice pool. It caters to middle class alot of people bring their kids. The parking lot is always full I am thankfull for these people still coming to vegas and spending money! I guess it depends on where you go in vegas but my life is holding up still I feel lucky. I dont make a ton of money but enough to pay my mortgage and live a normal life. I am sure the casinos are hurting alot more than they tell us but like I said people still visit vegas on the strip at least!
ReplyDeleteLets hope the old saying "What happens in Vegas stays in Vegas" holds true!
ReplyDeleteA click klack of a shotgun usually causes bad people behind a door to scatter faster than usual.Remember the Rodney King riots on T.V. the only store owners that were armed kept their propery and lives.Just a thought!!
ReplyDeleteHappy days ahead!!
The only time the strip is busy is on Fridays and Saturdays, used to be Thursdays were busy, not anymore. Midweek rooms at the Sahara are now $19.99 for locals, probably for everyone.
ReplyDeleteJust keep reelecting Harry Reid!!! :>)
ReplyDeletejust keep reelecting Graham, Sessions, Hatch, Lieberman, Mccain, Ensign, Kyl and watch this country go faster down the toilet.
ReplyDelete