Las Vegas Real Estate Bargains The best bargains are those where supply is high and demand is relatively low. While demand for Las Vegas real estate in general is low in 2009, due to tight credit and decreased demand (due to a loss in in-migration), there are some areas and property types that have suffered more loss than others. Losses are area specific. If you check out the Data Quick News file for Las Vegas at http://www.dqews.com you will find that some zip code areas within Las Vegas and Henderson have seen home sales price decreases over 60% in the last year while others have seen decreases of only 0% to 15% during the same period. Some areas have even seen dramatic price increases. If you are shopping for a bargain, you need to pay more attention to areas that have suffered large losses, there is likely more chance that a recovery would benefit areas that lost the most value. Tourist affected high end resort areas, like Lake Las Vegas, have seen some of the largest price decreases. Condominiums have also seen some of the largest price decreases in Las Vegas over the last 2 years. This is due in part to the relatively large number of condos that are on the market. The over-supply was brought about by the high-rise building craze. Some buildings have suffered drops of $ 200 per square foot or more. Thus, if you are shopping in this niche, you may be able to find a condo once priced at $ 420,000 for as little as $ 180,000. One of the reasons for a disparity in home sales prices is the fact that some subdivisions saw many more foreclosures than others. The reason for the foreclosures had nothing to do with quality of construction, and everything to do with the type of buyer. Investors let their properties go much quicker than primary, resident home owners. Copyright, Glenn J. Rigdon, Horizon Village Realty