New-home prices will drop another 5 percent this year and stay essentially flat in 2011 as builders compete with more foreclosures and short sales, a Las Vegas housing analyst said Thursday at his quarterly presentation.
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More than 90,000 notices of default were recorded against residential and commercial property owners in Nevada in the last 12 months, according to a statement released by the Administrative Office of the Courts, which oversees the Nevada Foreclosure Mediation Program state lawmakers established in 2009.
