Abandoned, empty homes apparently do more than attract illegal squatters and vandals.

Foreclosed homes in Las Vegas, Nevada, and elsewhere are “going to pot,” literally, according to the Los Angeles Times. Marijuana “grow houses” are no longer set up in the seedy outskirts of society, but rather nestled among well-to-do, albeit distressed, neighborhoods.

And the nationwide housing crisis is apparently one of the many factors fueling the “pot home problem.”

William Sousa, a criminologist at the University of Nevada, Las Vegas, explains:

“You can’t have crime without opportunity. And all those empty homes present an opportunity for criminal activity.”

“Sin City” and its surrounding area has been hit exceptionally hard by the downturn in real estate, ranking among the most troubled markets/states in the United States since it began several years ago.

And when growers/dealers can pick up a nice (relatively) new five-bedroom, 2,600 sq. ft. home in a Las Vegas suburb for more than 60 percent less than market value (this is just an example, NOT a marijuana grow house), while making making millions off a grow operation in six months or less, it’s no surprise, really.

It’s important to note that this is not an isolated problem that affects just Las Vegas. Therefore, if you suspect suspicious illegal activity is taking place at a house (or houses) near you, be sure to share your concerns with local authorities.

Forbes has compiled a list of the riskiest cities for homeowners, which have the highest percentage of borrowers who are at least three months late on their mortgage payments.

Check it out:

1. Las Vegas, Nevada
2. Riverside, California
3. Stockton, California
4. Modesto, California
5. Bakersfield, California
6. Vallejo, California
7. Orlando, Florida
8. Memphis, Tennessee
9. Miami, Florida
10. Fresno, California

“Sin City” has the dubious distinction of topping this list; however, California has six cities in the top 10, underscoring the distressing situation on the left coast.

The good news is that the “Golden State” recently pledged $700 million to prevent about 40,000 foreclosures. In fact, the program, “Keep Your Home,” is the nation’s “biggest principle reduction program,” trimming mortgages by up to $50,000 each.

If you are a struggling homeowner in California and want to learn more about whether or not you qualify for mortgage assistance click here. Those who want to view foreclosures in California — or anywhere else in the United States for that matter — should click here.

The foreclosure crisis has hit virtually the entire nation without discrimination; however, some states, collectively, have been impacted more than others.

Arizona, California, Florida, Michigan and Nevada, in fact, top the list of 50, sustaining average home price declines of 20 percent or more. As a result, the U.S. Treasury Department has earmarked $1.5 billion to “head off” foreclosures in these states, among other, according to Reuters.

It’s been dubbed the “Hardest Hit Fund,” which was announced back in February. And it was carved out of the $50 billion Home Affordable Modification Program (HAMP) to assist responsible homeowners who have “been affected by the economic crisis through no fault of their own.”

The five states submitted proposals, demonstrating that their residents needed the housing assistance, which were all approved.

Here’s the monetary breakdown:

Arizona will get up to $125.1 million for these purposes while California gets up to $699.6 million and Florida up to $418 million. Michigan has been approved for up to $154.5 million of funding and Nevada up to $102.8 million.

In addition to the five states already mentioned, North Carolina, Ohio, Oregon, Rhode Island and South Carolina have submitted proposals for similar assistance. It’s expected that they, too, will receive approval “in coming weeks.”

Government officials reportedly expect to help 90,000 or more homeowners with its “Hardest Hit Fund.” For more information on the program, as well as the complete “Making Home Affordable” initiative, click here.

Las Vegas, Nevada, real estate broker Ken Lowman is taking his business to an entirely new level.

Literally.

Lowman, who has partnered with JetSuite Air, is offering “Sin City” buyers and investors with a “Luxury Home Foreclosure Private Jet Tour,” which will depart from Los Angeles, Calif., on April 17 and fly over three luxury (foreclosed) homes in Las Vegas.

Here’s his lofty pitch:

“I’m pleased to team up with JetSuite air to expose an out-of-town audience to Las Vegas to see these incredibly reduced-priced luxury homes. I’ve been telling all my potential buyers who are waiting in the wings the same message. If you have the wherewithal, now is the time to buy.”

If you think a luxurious birds-eye view might not be the best mode of inspection, then you’re probably on the right track. It appears to be more about the “experience” … even though several of the homes, which range from $4.65 million to $6.125 million, might be visible from outer space.

New York Daily News reports that if all goes well on the maiden voyage, Lowman plans to coordinate additional foreclosure jet tours from major cities such as San Diego, Calif., Phoenix, Ariz., and Salt Lake City, Utah, among others.

Interested passengers must show proof of funds and net worth “sufficient to purchase a luxury home.”

And it’s not just because of the desert heat, according to the Wall Street Journal:

“Bargain hunters here and in many other metropolitan areas are up against a paradox. By far the biggest wave of foreclosures since the Great Depression was expected to be a bonanza for anyone with cash or the ability to get a loan. But prospective home buyers say it is increasingly difficult to find foreclosed homes at attractive prices in desirable neighborhoods. Supply is shrinking largely because of federal and state efforts to help millions of distressed homeowners avert foreclosure, which have delayed many likely foreclosures, keeping the homes off the market for now. The bargain chase is even tougher for those buying with a loan. Investors with cash have an advantage in that their offers aren’t conditional on obtaining a loan so banks often prefer selling to them than taking the risk that another offer will fall through. They are also often quick to react when bargains appear.”

We’ve said it before and we’ll say it again — the best deals often get cherry-picked as soon as they hit the market by savvy investors and/or dedicated house hunters.

Yes, there is more distressed inventory from which to choose these days, but just because a property is classified as a “foreclosure” or “short sale” doesn’t mean it’s bonafide beauty right off the bat.

Finding the best home deals in your area, and then having the ability to move in on them faster than anyone else,  often takes a little bit of homework, preparation, persistence and luck.

A great way to get started is to sign up for our FREE daily foreclosure e-mail alerts. We conveniently deliver all the best deals, depending on the property type(s) and zip code(s) that you select, directly to your inbox.

Of course, you can also search foreclosures in Las Vegas and beyond right now with the limited-time blog reader special discount on our FREE 7-Day Trial.

Hurry!

This is certainly not the encore Nicolas Cage anticipated for his Academy Award-winning performance in “Leaving Las Vegas.”

Las Vegas Sun reports that a 14,300-square-foot “Sin City” home that Cage purchased for $8.5 million in 2006 was recently sold for $4.95 million.

The six-bedroom, seven-and-a-half bathroom “sprawling mansion,” which is located at 5100 Spanish Heights Drive, was repossessed by the lender in Dec. 2009 when Cage failed to meet his mortgage obligations.

Cage, unfortunately, is no stranger to foreclosure lately.

In Nov. 2009 he walked away from two million-dollar homes in New Orleans, La., for “unpaid mortgage debts.” In addition, there was a home in California that was also reportedly seized.

Cage — was recently ranked 45 on “The 2009 Celebrity 100″ from Forbes.com, earning an estimated $40 million from June 2008 to June 2009 — has attributed his recent financial troubles on “an incompetent business manager.”

He admits that he currently owes the Internal Revenue Service (IRS) about $14 million in back taxes. Throughout his illustrious acting career Cage says he has forked over at least $70 million to Uncle Sam.

For more on Cage, including his other brush with foreclosure and vast real estate portfolio, click here. Remember to also check out our comprehensive “Celebrity Foreclosure” archive right here.

Las Vegas, Nevada, is among the most troubled major cities in the nation when it comes to foreclosed homes.

So troubled, in fact, that now homeowners in perfectly good standing are in danger of having their homes entered and personal effects hauled to the dump.

True story, according to the Las Vegas Sun:

“Part-time photographer Nilly Mauck, a 31-year-old student at the College of Southern Nevada, had left Las Vegas in mid-December for a snowboarding trip to Utah and returned … to her three-bedroom, two-bathroom ground-floor unit to discover the only things left in her condo were a curtain rod and a satellite dish. She said her couch, bed, dining room set, computer, clothes, pots and pans were gone. So, too, were her financial and medical documents, immigration papers from the Philippines, her father’s military records and photographs of her family, she said. A crew that clears out foreclosed properties had been sent into Mauck’s condo by the Brenkus Team, a Henderson real estate group. Brenkus has accepted responsibility, saying it was just a mix-up. The foreclosure was a neighboring condo unit.”

That’s quite a “mix up,” considering that all of Nilly’s important/cherished belongings were tossed in the garbage. And on top of it all the foreclosure cleanout company, Brenkus Team, offered her just $5,000 in compensation.

The good news is that recently-passed legislation protects innocent victims like Nilly, allowing her to demand for triple the amount for damages to her personal property.

Sure, it’s hard to put a price tag on family photos or other similar items — sentimental value is often priceless. But hopefully she is able to get back something respectful after so much was lost.

It’s certainly not the “clean slate” she envisioned to start 2010.

La Toya Jackson — an older sister of the recently deceased “King of Pop,” Michael Jackson — is facing foreclosure on a 1,856-square foot condominium unit located on the 27th floor at Regency Towers inside Las Vegas Country Club in Nevada.

ReviewJournal.com reports that the singer/songwriter, who is perhaps more recognized for her famous family and two spreads in Playboy in the early 1990s, is in default with an unpaid balance of $750,000. She purchased the home for about $260,000 in 1996.

It’s possible that Jackson has no intentions of rescuing the condo from the auction block — she reportedly moved all of her belongings out of the residence back in August. Other reports indicate that Sept. 30 is the possible date for a future foreclosure sale.

La Toya, 53, is not the first or only Jackson to miss mortgage payments.

Michael was at the center of perhaps the most famous celebrity foreclosure story ever when his sprawling Neverland Ranch in Los Olivos, Calif., was teetering on the edge of repossession. He avoided foreclosure in the eleventh hour by selling a major interest in Neverland to a real estate investment company, Colony Capital, which entered into a joint venture with Jackson to renovate and re-sell it.

For what it’s worth, Dr. Conrad Murray — the man at the center of the investigation into Michael Jackson’s death — is also in danger of losing his 5,268-square-foot home in the exclusive Red Rock Country Club in Las Vegas to foreclosure.

Stay tuned to Foreclosure.com for more updates on La Toya’s foreclosure situation as it unfolds. To read about even more celebrity-related foreclosures click here.