I live in Vegas and if you have the cash. now is the time to buy foreclosures here. They are selling for up to $100,000 below market. Non foreclosure home owners are just deciding to keeping their homes off the market until these bad loan homes get through the grinder, unless they absolutely have to sell. Then the best will occur in 2010 and after when regular homes start going back on the market and people that bought these foreclosed homes can sell them for a profit matching the prices of regular home sales. Talk about a perfect storm for investors to quietly buy the right foreclosed homes.