Homes in Las Vegas that were selling for $320,000 are considerably lower priced today. Our team just put a home under contract for $120,000. Granted, it was a foreclosure property that the bank wants to dump but the numbers are staggering. Oddly enough, you can't build that home today for that price. We have seen several properties with a huge bank discount come through our group. If you want to see other properties like these you need a Las Vegas real estate agent to get you connected.

Other parts of the country are also seeing considerable price changes. CNN illustrated some of these factors.