Glenn Plantone

The current Las Vegas market has brought about a gap between supply and demand, as well as between bank-owned foreclosures and prices that owners can list their homes. How this can mislead perceived benefits of the market dynamics.

Explaining the differences between short sales and REOs as pertaining to the position of a buyer or from the position of a seller. As well as the benefits in the present and changing market with future credit score/buying power addressed.

Record home sales numbers continue in the Las Vegas valley as investors scramble to acquire properties for pennies on the dollar. As demand increases, supply of foreclosre / REO homes is decreasing. As a result, September saw the first median home price increase in Las Vegas in over two years. The best place to acquire low priced investment properties is the trustee's sale...where prices are discounted 20% off already low REO retail values.

Although the national news media isn't reporting it yet...we have finally reached the bottom for the Las Vegas real estate market. Three key factors used to identify a market bottom have all been met. This is possibly the best time to purchase real estate since the Great Depression.

Sales prices and comps on high rise condos in Las Vegas have been steadily declining for the last two years. The auction of units at the MGM Signature towers created new low comps for these high end properties. This may signal a great buying opportunity for second home buyers as well as real estate investors.

Although we are facing the most serious economic downturn since the Great Depression, as in the Depression this time of distress also offers great investment opportunities. Real estate has once again become the best avenue for growth and cash flow. Specific areas of the country provide unique opportunities in this regard. Northwest Las Vegas leads the list.

With the credit market drying up investors with cash are able to buy foreclosed homes in the Las Vegas Market for near 70% discounts in some cases. Banks are ready to deal for the first time in years.