FHA mortgage making an impact in Southern Nevada

FHA's market share in Las Vegas a few years ago was very narrow because the conventional home loan product was generally offering much better terms. And then comes the mother of all housing slumps that mauls the conventional mortgage sector and gives FHA a fresh opportunity to show what it can do. And it's rising to the occasion.

A good deal of the real estate action in Las Vegas today is at the lower end of the market where prices have truly become affordable, be it a single-family home or a condo or a townhouse. Values have been unsympathetically rolled back to the levels of the late 1990s. This has handed the first-time home buyer, someone who hasn't owned a home in the past three years, a chance of a lifetime and he is taking advantage of it.

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