Mix of good news and bad news for Las Vegas housing this month: Foreclosures and short sales are still rising. Prices slipped quite a bit in the past 30 days, and we are seeing more homes priced at 50% off of their previous sales price.

January home sales were again flat; keep in mind that this is at a time when sales should be taking a nosedive. Flat sales for November, December and January is a good sign for the Las Vegas housing market.

With pending sales rising, I still expect to see us reach a sales "bottom" early this year. It's hard to predict when prices will bottom out, but that will follow as inventory is absorbed.

You may have noticed the Top10 was looking a bit stale last week. My brilliant researcher just got back from vacation, and updated the site today. He's working on the 30 runners-up as well. All future island vacations for Ron are hereby suspended. Apparently updating this from Grand Cayman turned out to be more of a challenge than he expected. Or maybe it was the rum...

Check out the article on the best places to buy homes--Las Vegas is making a lot of these lists lately.

For those of you who were looking forward to Part II of Gui's story, we are getting close. I got a call that the house he wanted fell out of escrow yesterday. Gui understood that he needed to jump on it quickly this time and we're waiting for a response from the bank on his previous offer.

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