The Land Grab Is On -- Beyond Vegas, L.A.; HOT SPOTS; Idaho, Georgia, Utah rise; the Carolinas, Texas on the horizon.(SERIES: THE NEW INVESTOR)(IBD SPECIAL REPORT)

Byline: DONNA HOWELL

It's like thousands of years ago. The big migration is still on, to better watering holes and fertile hunting grounds.

Baby boomers are moving near oceans and lakes, buying homes and driving up prices, even as interest rates inch north.

All the while, forward-thinking real estate investors scout less settled territory for deals.

"People are moving to the warmer weather regions. So the hot spots would be in Florida, Arizona, Nevada," said Lawrence Yun, senior economist at the National Association of Realtors. "We could see more flow to the Pacific Northwest."

Some hot spots are getting very pricey -- enough to shock people who have thought of moving there, he says.

Take Las Vegas, attractive for its warm weather and lack of state income tax.