18% of all home sales in Nevada last year were FORECLOSURES.

[El Pinko]

http://www.kvbc.com/Global/story.asp?S=7868512

Take a bus tour of foreclosed Vegas homes
Updated: Feb 14, 2008 11:13 AM

....

We checked out one home that was in foreclosure and has dramatically dropped in price. It sold for $700,000 roughly two years ago. Now a sale is pending for $425,000.

....

The bus is owned by John and Ruth Ahlbrand. They see the current market as an opportunity for investors, first time home buyers, and people looking to move up.

....

"Its an opportunistic market for a lot of people, just take a look around and take advantage of today's market, today's buyers market," John added.

Nearly 18-percent of homes sold in Nevada last year were foreclosures. That's said to be four times more than the number of bank owned homes sold in 2006.