It seems auctions are the new 'thing' for trying to sell foreclosed properties. Property auctions are nothing new, they've been around for a long time. The last large auction I attended were auctioning off Valencia condos, a small condo conversion community located just off Maryland Parkway, about a half mile from UNLV. Some of the one bedroom condos sold for $50,000.

There is another auction coming for Lake Las Vegas. You can also read about it in the LA Times. The community is located in Henderson, on your way to Lake Mead. Lake Las Vegas real estate consists mostly of luxury homes, but there are a few condominium and townhome communities there. With so many foreclosures happening in the valley, its surprising there aren't more auctions going on. -cr