According to ZipRealty 2009 "Home Hunters Report," the master-planned community of Summerlin, along with Phoenix and five nearby cities -- Scottsdale, Mesa, Chandler, Gilbert and Glendale -- and three cities in Florida -- Naples, Orlando and Fort Lauderdale -- were the hottest cities in the United States for home buyers in 2009, according to the number of home searches on the online real estate brokerage site, ZipRealty.

Also according to ZipRealty's "Home Hunters Report" distressed properties (foreclosures and short sales) in five of the country's most affected housing markets -- Phoenix, Ft. Myers/Naples, Fla., Las Vegas, Southern California and Sacramento, Calif., -- are spending on average 20 percent fewer days on the market in 2009 compared to 2008.

"Banks have sped up the process for getting foreclosed homes on the market, and continue to lower prices to sell them," said Leslie Tyler, vice president and chief home hunter for ZipRealty.

"The drop in days on market versus last year highlights that distressed properties in these hard-hit markets are starting to move, which is a hopeful sign."

"In markets where prices have fallen the most, such as many California cities, Phoenix and Las Vegas, we continue to see strong buyer interest. The market is being driven right now by first time buyers and investors because of the affordability in these areas," Tyler said.

INSURANCE RATES

American Family introduces discounts

Senior homeowners, new homeowners and homeowners with newer homes could see insurance rate discounts upon policy renewals thanks to a homeowners' insurance filing that recently was approved by Nevada Insurance Commissioner Scott J. Kipper.

Commissioner Kipper has approved a homeowners' insurance filing as filed by American Family Mutual Casualty Co., the third-largest homeowners' insurer in the state, to become effective on March 20, 2009 for new and renewal business. Via this filing, American Family is introducing four new discounts for homeowners, tenants and condominium owners.