Vegas real estate market in a flux.

It's a buyer's market, they say. Or is it? It should be according to the statistics from GLVAR. There are over 20,000 homes in the MLS and they tend to sit unsold for a good stretch. Prices, though, haven't changed all that much over the last two years. They really vary from area to area.

Buyers out there are well aware of the soft residential real estate conditions and make offers below the asking price. As they should. Sellers often are reluctant to accept because of their house is that special property that will get the perceived true value. Human nature in play here. There are others whose mortgage balance is right up against the market value, or even higher. To sell they would have to bring money to the closing table. No way. So, the dance goes on.

Bottom line is that at the right price everything sells.