The National Association of Realtor's chief economist Lawrence Yun and President Charles Mcmillin released a video pod cast about the Stimulous package and the impact on the housing market. Now, this video is....what's the word...DRY, but it full of valuable information about new legislation.

Yun went on to state in a recent article from Realtor.org (Click here to read the full article):

Significant local market variations continue. "A majority of markets experienced sales declines of more than 20 percent from a year ago, but some markets appeared to have reached the tipping point of accelerating home buying," Yun said. "For example, home sales in Las Vegas have more than doubled with some reports of multiple bids."

I can definitely confirm the report of multiple offers. I'm currently working with 5 buyers who are looking for properties in Las Vegas. Many times when I call a listing agent to check availability of a property, they tell me there are 4, 5, sometimes 7 offers on properties. The media doesn't talk about these situations because it doesn't sell. People interested in catching the bottom have got to start making a move, because the bottom of our market will come a go faster than you think. If you would like to search for foreclosure properties currently on the market, please click the icon below or you can contact Felipe Crook by clicking here.

Are you looking to purchase property in the Las Vegas area?