I got home from the Bahamas on Saturday planning to spend a few more days in my sun/rum/time continuum, that zone of complete relaxation. I made the mistake of letting my office know I was back in town. So here I've been since Sunday working 15 hour days again. Not that I'm complaining – I LOVE what I do. Being a Realtor is better than being an astronaut or a major league pitcher. I'm just no longer moving like I'm wading through molasses.

The market has barely slowed, with a nominal drop in sales in August. September is usually slow as a new school year begins, but the pace remains brisk.

Dean and Jan just had another offer rejected; this one was more than $70,000 over list price. This time I'm shocked; this was a great offer. There must have been a very strong cash offer.

First-time homebuyer Dustin just made an offer on 3 homes, and was very fortunate to have an offer accepted. It's not easy getting FHA offers accepted right now. When the bank asked for Dustin's "highest-and-best" offer on another, they had 80 offers on the house.

Flying back in to find temperatures in the mid-90's, I had an "aha" moment. People come to Las Vegas for the casinos, the great food, and the shows – but they move here for the weather. My clients who buy their 2nd homes and retirement homes in Las Vegas buy here because they can wear shorts when they come here in November.

FOR SALE: Snowblower, shovel and ice scraper. Never used, still in box. Ahhhh, Las Vegas. It's fall, and it's gorgeous today.

The price of new homes sold in Las Vegas in August rose 1.7%. That's the 3rd consecutive month in which the price of new homes sold has risen, albeit slightly. More evidence suggesting that we hit bottom a few months ago.

Nearly 3900 homes were sold overall in the Las Vegas area in August. That's a very slight decline from July, but a large increase over August of 2008. The percentage of sales attributable to foreclosure was barely over 70%. That's down from 82% in the spring, and reflects the increase in the number of sales of non-bank owned homes, whether resale or new. With a shortage of REOs, more privately-owned homes are selling.

Naturally, with a shortage of bank-owned homes we are seeing flippers in the market again. If you are buying a resale home and are using a mortgage, find out when the home was purchased last. Many lenders won't finance a flip, so if the home you want was sold recently, check with your mortgage agent up front to see if it's going to be a problem.

 I'm still enjoying a little R&R in the Bahamas, where the "no-see-ums" feast on me as I float, half awake, on a mat in the ocean. The diving in the Exuma Islands isn't spectacular, but Gavin and Nick, owners of Turtle Diving, rewarded us with a one-hour layover at Chat N' Chill on Stocking Island after our shallow dives yesterday.

 It will be hard to get back into heels when I return to work…a dilemma I face every year around this time, when I generally return from some down-time in the Caribbean.

Incredibly, the demand for Las Vegas homes is still strong, even in traditionally-slow September. One of my clients just had an offer rejected at $60,000 over list. The winning cash offer trumped our 30%-down offer.

Dean and Jan have been looking for a home for at least a year. I don't know anyone who is better at getting offers accepted than I am, but we have been bested time and again. Initially, their offers were too low, against my advice. There were 2 good offers I was sure would be accepted last week, but weren't. Yet, I just had 5 of 7 cash offers submitted last week for another client accepted!

But Dean and Jan have very good taste, and there are a lot of cash buyers in the market who have the same good taste. Fortunately for this couple, we are entering the slow season. With less competition, we should be able to find something soon. I take it personally when they find a home they love and their offer is rejected. This time was like a punch in the stomach. We had a great offer. Woulda, coulda, shoulda…it's tough to compete with all cash right now.

I've noticed that some banks are pricing houses way too low in the past 2-3 weeks. That doesn't mean they can be had for that price, even for cash. I couldn't convince an investor 2 weeks ago to ignore the list price and go by the comps, so he missed by a long shot. I can't imagine why banks are listing homes at $110,000 when there are good, recent comps in the $165,000 range on the same street! Or why they are listing homes with $400,000 comps for $325,000. But be forewarned – my agents and I are seeing a lot of it this month. And while I actually can imagine why, I'll let you draw your own conclusions.

I'm in the Bahamas, on a very sleepy island, enjoying some sand, sun and rum. Not enough sun, but that's the drawback of visiting Exuma, or any island, in hurricane season.

I usually travel to the Caribbean in the low season because no one else does. What a great time to get to know the owners of local establishments such as Dee, of Santana's Cafe, and her mom, a.k.a. Mom, of Mom's Bakery next door. Dee served up a tender lobster, just pulled from the ocean by her husband. And shared some great photos of the celebrities who manage to find her little corner of the world.

Exuma is a relatively undeveloped island of 6,000 inhabitants. It can't compare to Grand Cayman or even Turks and Caicos – but it's a great place if you're looking for rum punch and a good cigar from you-know-where!

I'd better go chase some sun before the rain returns. Oh, wow, I just saw a fight between the former hotel owners and the guy who is managing it for the new owners. That's probably the most excitement this island has ever seen. Now, back to sun and a rum punch.