A common perception about homes in foreclosure is that the houses were rentals, or second homes and the owners were investors.
a recent study by the Nevada Realtors Association showed that
more than 87 percent of home foreclosures are primary residences. That news runs counter to popular opinion that most foreclosures are the result of rental homes (8.1 percent) or investment properties (3.6 percent). Roughly 500 people statewide were surveyed in the study, which was conducted by SGS with NV Data Mine.
The Las Vegas valley experienced five times as many foreclosures as the national average. The study determined many factors that were in common with those homeowners losing their properties. They found that the ability to recognize a healthy buyer was more important than whether the property was an investment.