Las Vegas Inventory Disappearing

Assembly Bill 284 http://www.leg.state.nv.us/Session/76th2011/Bills/AB/AB284.pdf

The lack of new REO's on the market (due to AB284) combined with increasing demand is driving down inventory at a rapid rate. There is a buzz in the streets and everyone is buying again (if they have the cash or can get approved). The rental market is strong and investors are coming in from all over to buy positive cash flowing properties.

I would just like to add that the very low inventory and the very high demand right now should balance out when the REO mess gets sorted out and we have a new wave of REO inventory hit the market. A lot of people are saying that it will dip again when the REO invetory hits the market but I doubt it will (at least in my market Las Vegas). If it dips at all it will be slight and temporary as even before AB284 stopped NOD's, inventory was still decreasing monthly and demand was still growing monthly.

As you can see in the graph below it has heavily affected the number of available listings.
 
It is always best to have a back up plan with plenty of reserves and don't go too hard too fast. We are running a marathon here not a 50 yard dash. It is all about longivity.