LAS VEGAS - The real estate market is showing signs of recovery in the "Entertainment Capital of the World," according to a Parkersburg native who heads Nevada's realtors association.

Linda (Gondek) Rheinberger of Las Vegas was installed as president of the Nevada Association of Realtors Dec. 11 at the Four Seasons Hotel. With 17,000 members, the realtors group is the largest trade organization in the state and politically active, Rheinberger said Tuesday.

John and Elaine Gondek of Parkersburg attended their daughter's installation dinner. Sitting next to Rheinberger was Gov. Jim Gibbons.

"It was quite an honor. A lovely event," Rheinberger said of the dinner.

Las Vegas Mayor Oscar Goodman proclaimed Dec. 11 as "Linda Rheinberger Day" in the city for her efforts on behalf of the real estate profession.

Rheinberger, a 1977 graduate of Parkersburg Catholic High School, is broker/owner of One Source Realty and Management in Las Vegas. She was president of the Greater Las Vegas Association of Realtors in 2006.

Her real estate agency, like others, took a severe hit during the housing crisis of 2007.

"We were hit hard. We were hanging by our fingertips two years ago. We are doing a lot better. I have no complaints," Rheinberger said.

When housing demand soared in 2004 and 2005, some banks didn't know how to handle the situation, she said. The housing bubble burst.

The real estate market in Las Vegas improved this year compared to last year, Rheinberger said.

Still, Nevada ranks No. 1 in home foreclosures and has a 14 percent unemployment rate, she said. About 8,000 southern Nevada construction jobs have been lost during the current recession, she said.

Rheinberger cited several reasons why she believes the real estate market in Nevada will continue to improve next year:

• People are excited again about buying a home

• There are good opportunities for buying a home

• Homes are selling for one-half of what they once did

• Low and stable interest rates

• Tax credits for first-time homebuyers.

Rheinberger sees Las Vegas as being a resilient city that responds quickly to the marketplace.

"We are in a unique market to land on our feet" when the economy rebounds, she said.

Rheinberger envisions the Vegas economy becoming strong again through a gradual correction of the job losses, businesses growing and real estate problems being addressed. "People are gearing up for the cycle," she said.

The newly opened CityCenter - filled with hotels, restaurants, housing, shopping, arts and sports activities - is expected to boost the city's economy.

Rheinberger wants to attend law school someday. Politics might also be in her future, she said. She has a Business Administration degree from West Virginia University and a Masters Business Administration from the University of Nevada, Las Vegas.

But for now, Rheinberger said she plans to be a good steward of the state realtors association funds and to work to help the real estate profession.