Woodside Homes plans to kick off the sales event at its Summerlin community, located west of Interstate 215, the Las Vegas Beltway, off Charleston Boulevard.

Those buyers who prequalify through the builder's preferred lender for a home loan today will receive a baseball autographed by former Major League pitcher Orel Hershiser.

The special event also will include information and prices on the builder's 14 neighborhoods and free food and drinks.

The promotional sales event is meant to bring attention to the value new homes may have over short-sale or foreclosed properties, Kearns said.

"We understand that buyers just want to feel like they're getting a fantastic deal on a new home," he said.

"Many buyers have become frustrated with their endless search of foreclosed homes and short sales only to find damaged houses and the mess that someone left behind. Too many people have made the mistake of sacrificing the comfort and security that comes from buying a new home under warranty, for a cheap price. While the prices on those damaged homes may be attractive, do buyers really know what they're getting?"

More than 20,000 homes are currently listed on the Multiple Listings Services.

Though many people may assume that the only good deals out there are foreclosures and short sales, this is not the case, according to Dale Snyder, chief executive officer of The Snyder Group, RE/MAX Central.

"While there are good buys on foreclosures and short sales, there are many perils and pitfalls that many buyers are not aware of that can cost tens of thousands of dollars," Snyder said.

"For example, if after three months of negotiations a bank finally says yes to a short sale price, then the buyer is generally responsible for turning on all utilities for inspections, purchasing homeowners association documents, a home warranty, replacing dead landscaping, flooring, paint, etc. This cost adds up quickly.

Now that Woodside Homes is offering 'foreclosure-like' pricing on new homes, it makes sense to buy their product over the often damaged foreclosure/short-sale properties."

For more information, visit woodside-homes.com/lasvegas.