It's odd that with all the homes offered for sale, many buyers can't find a home to buy. If you're that buyer and you're serious, consider the following. 1. Get to know the inventory in your target area(s). While some listings will not fit your criteria they can be removed from your interest list at the start. 2. Find an agent who specializes locally and is informed on local market conditions. 3. Ask your agent to sign you up for a listing alert, sending you emailed listings directly from the multiple listing service. You can also include "status" changes watching out for those listings that are back on the market or have price reductions. Also, don't assume there's something wrong with the property if it's back on the market, your agent can ask why, so keep an open mind. Keep in mind salable listings are in "move in condition", properties that need work will most likely be priced to account for work needed.

As a real estate agent one of the most common questions for me is where's the best area to buy? My answer...depends, and here are some points to consider. You can't go wrong buying a singe family home in a master planned community, such as Green Valley, Seven Hills, Southern Highlands and Summerlin. Summerlin has been a top selling community for over 10 years while Henderson has had the highest appreciation rate and presents the best long term hold. Staying in the Las Vegas Valley close to the center of the city will probably be a wise move in the coming years. The closer you are to the hub, to the center, the more expensive it's most likely to be.

It seems that demand has returned back to Las Vegas. Now I don't think we'll see appreciation, but the conditions are definitely much more favorable than last year. While we're far from out of the woods in the lending industry, it seems that we're at least getting some programs back, and the people who can qualify are increasing, not decreasing like they did over the last year. Single Family Residents under contract from the beginng of the year, admittedly, a traditionally slow time of year, have increased from 1,997 under contract almost increasing that much (1,994 units) to 3,921, or a 96% increase. It certainly seems that there is movement in the Las Vegas market. Other good news is that the decline in prices and the mass influx of renters as a result of the foreclosures and short sales means that the Rent-to-Sales price ratio is almost back to normal. Should you buy in Vegas today? That depends on the type of investor you are, and you already know what kind of investor you are, but there are some very favorable indications

A good source of data on repossessed homes being sold by the U.S. government is the Web site of the Department of Housing and Urban Development (www.hud.gov). Information on available homes is updated weekly, HUD says. While the pursuit of foreclosed properties is highly competitive in some markets and no sure ticket to riches. A good rule of thumb is to invest in houses only if you're confident you can make at least a 15% to 20% return on your money. Be sure to allow for the costs of rehabilitating and selling a house. Aside from the cost of buying and fixing the house, you need to tot up the likely cost of financing, insurance, taxes and any brokerage commission on your eventual sale of the property. It's not as cut-and-dried as you might be led to believe, but it can be very profitable if you get it right.

With all the choices in today's market, how do you go about finding the right home? It seems the more research you do, the more alternatives you discover. It's important to visualize your needs and plan ahead. Know what you want in a home, what's important to you, and what you can live without. Many of us start out with a champagne taste and a beer pocketbook, so it's important to be realistic. Selecting a real estate professional is an important first step in beginning your search. Ask for personal recommendations to find an individual who is knowledgeable about the neighborhood and has access to the local Multiple Listing Service. Make sure you feel confident about his or her knowledge and skills, and understand the business relationship that you have established between you.

No matter where you look, you should check out some basic economic fundamentals before buying. Is job growth stable in the area? Is income keeping up with inflation? Is crime above the national average? Is there a higher-than-average rate of foreclosures? These issues and others play a factor when deciding where to buy a house. TOP PLACES TO BUY Killeen, Round Rock, Austin, Texas: Killeen has the lowest average home price in any market in the nation. Mission Viejo, California: Mission Viejo has the lowest crime statistics in the nation. Palm Beach, Florida: This area has been pummeled by foreclosures but there are also a lot of boomers, and Palm Beach is looking mighty attractive. If you don't like this high of a risk (which translates to great prices), check out Tampa or Clearwater in the same state. Las Vegas, Nevada: Yes, Las Vegas comes in quite high on the national foreclosure list, but there's an upside--a very strong job market. In 2007, Las Vegas experienced a 12 percent increase in population, coupled with low prices, we could see inventories reduced here, which would also stabilize prices. Be careful what you buy. PLACES TO AVOID Detroit, Michigan: The job market is in chaos. National statistics seem to point to a significant problem with job loss and job income not keeping up with inflation. Miami, Florida: Miami, which sits in its gorgeous aqua water with half-built and abandoned condos, a shrinking job market, a tough time getting insurance against hurricanes and a job problem. You may get a good deal, but do this only if you don't need the appreciation from the home in the next decade. Riverside/San Bernardino, California: Riverside and San Bernardino counties in Southern California consistently lead California in foreclosures. The prices have plummeted, and jobs in the area are scarce.