Real estate:

Nevada out of dubious top 10 for foreclosures? Almost

A “for sale” sign is displayed outside a foreclosed home near Hacienda Avenue and Jones Boulevard on Saturday, Feb. 5, 2011.

With a sharp drop in default notices, Nevada’s foreclosure rate is now almost out of the top 10.

One in every 859 housing units statewide received a foreclosure-related filing last month, down 53 percent from October and 55 percent from a year ago, according to a new report from RealtyTrac.

Nevada had the eighth-highest foreclosure rate in the country in November. Florida was No. 1, with one in every 392 homes receiving a foreclosure filing. Nationally, it was one in every 1,155.

The report counts default notices, scheduled auctions and bank repossessions.

Nevada’s improved ranking — the state was No. 2 in October and No. 1 in September and August — was achieved with a big drop in notices of default, which start the foreclosure process.

According to RealtyTrac, homeowners statewide received 273 notices last month, down from 1,690 in October.

Real Estate