Yes, our market has changed this quick. Our client looked at a home in NW Reno the first day on the market, it was listed under $125k. It looked nice, he wrote an offer ( over asking price, all cash) and we just got the call from the listing agent, Sorry, we had 19 offers and your buyer did not get the home. The severe lack of inventory is really heating our market up. All this is due to the horrible foreclosure law that passed in Nevada at the end of 2011. Foreclosure filings in Nevada almost came to a stop after the law went into effect. The banks MUST start listing their shadow inventory right away, this is just crazy and NOT a healthy recovery for long term !!