Are you thinking of buying Las Vegas homes but you are still unclear about whether to pursue it or not? If so, then you may lose out on a great opportunity if you wait too long. We all know that America is experiencing an economic crisis. This is resulting in home owners being unable to pay for their mortgages and ending up having to face short sales or foreclosure. Short sales happen when the home owner is having financial difficulty and decides to sell his mortgage property for an amount lesser than the outstanding balance of the loan. They do this with the consent of the bank or the lender who agrees to discount the loan balance. The proceeds of the sale will then be given to the bank or the lender.However, this process does not imply that the two parties are now better off compared to the earlier situation.