We get a lot of feedback on our Website and the most asked question is: How do we know when the market has hit bottom? This Economy is enough to make anyone nervous and I don’t blame anyone for feeling uncertain. The best advice I can give is to experience this market for yourself. Get yourself an experienced Real Estate Agent and start touring homes in the price range you feel comfortable. You will notice that all the really great deals seem to be in the Bank Owned and Short Sale listings. Nevada still has one of the highest rates of foreclosures in the nation. Probably the main reason is because Las Vegas was one of the fastest growing cities in the nation for many years. Many of the homes here, were purchased as an investment and many were financed with 100% loans, no money down, etc. When the market started to decline, the investors owed more money than the home was worth. Their payments were high because they put no money down and they decided to cut their loses and walk away. Prices that buyers paid for their homes a mere 3 years ago are now about 50% less. These homes are not run down damaged shells but many are highly upgraded and in great shape. As we write offers on these properties, we are running into a multiple offer situations. This means that even in this market, there are other buyers that want these homes and see the great value. Real Estate prices are always driven by supply and demand. We are seeing the demand increase and even though we have a lot of inventory, the scales are starting to turn. Don’t say I didn’t tell you so when that home you saw last month is 10k more this month. Look at buying a home as more than just an investment, it’s a lifestyle. Enjoy!