That blog title wasn't entirely b.s. to grab your attention; according to the annual recap of home values, ONE of our 58 Las Vegas zip codes actually saw appreciation in 2008. So technically speaking, it's true. I'm looking for something that my fellow agents can get excited about in real estate today, and that's all I can find. The depreciation in 57 of our local zip codes has certainly attracted my type of clients - investors and savvy retirement or second home buyers - to the market.

I don't need to find something positive to cheer me up; I wrote offers for 5 clients in the past 10 days. My phones are ringing off the hook, and my Inbox is flooded with email. And I just closed that $32,000 home for a LasVegasAdvisor reader who plans to remodel the home and live in it, so I'm feeling pretty cool and cocky today.

As for the annual recap of home values in Las Vegas by zip code; well, one man's tragedy is another man's opportunity. I don't say that to be flippant. But cash is king again, and those who are investing in Las Vegas real estate now will reap the rewards in the not-too-distant future. And thanks to recent rule changes and tax credits, even princes and princesses with a little cash on hand can find a mortgage to buy a personal home, too.

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