Mitchell Olson and his wife, Victoria, bought a three-bedroom, three bath home at 585 Lou Jean Ave. in Moapa Valley from Bank of America for $404,500 on Aug. 13.

Bank of America foreclosed on the property in April. It was previously owned by Richard and Michelle Hume, who bought it for $349,000 in March 2004.

The 4,674-square-foot house was built in 1996.

Mr. Olson has worked as a loan officer at Flagstar Bank in Logandale.

Home sales in Moapa Valley have not changed thus far in 2008. The median sales price, however, is up from $225,000 in 2007 to $258,000 so far this year.

Address: 585 Lou Jean Avenue
Buyer(s): Mitchell E Olson and Victoria L Olson
Seller(s): Bank Of America Na
Sale date: Aug. 13, 2008