I have worked in the land sector for the last 13 years. It depends on what type of vacant land you are interested in buying. Currently because of the short supply of homes available for purchase in Las Vegas, the homebuilders have once again begun to purchase vacant land suitable for building single family residences to meet demand. Thus the prices has started to increase for such land. It is highly likely that the legislation will amend AB284 and remove the "criminal intent" portion of the law. This will enable lenders to once again start foreclosing on homes where the mortgage payments are delinquent. It is most likely going to bring the available inventory slightly higher. However, I do not beleive we will see a huge increase in foreclosures at this time or at least until the legislation meets again in two years.