Lake Las Vegas real estate

Lake Las Vegas

Homes and real estate

Lake Las Vegas Homes for Sale - Property Search
Focused search reflecting only homes & condos currently listed for sale in Lake Las Vegas.

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Lake Las Vegas Resort is located in the southeast, between the Las Vegas Valley and Lake Mead, approximately 20 miles from the airport/strip area. It is built on 3952 acres and features 19 distinct neighborhoods including custom home sites, courtyard villas, waterfront and golf villas, resort condominiums, luxury executive homes and courtyard town homes. I would guess that approximately 50% or more of the available housing here at present would be condos and townhomes. The architectural designs throughout Lake Las Vegas Resort are based on a Mediterranean theme, featuring classical proportions and traditional detailing that create the distinctive enclaves surrounding a privately owned 320-acre lake with 10 miles of shoreline. The elevation at Lake Las Vegas ranges from 1,400 ft. to 1,700 ft. above sea level. There have been many changes at Lake Las Vegas. With the present housing market, the changes anticipated below are not longer in the immediate future. Much will depend on how fast the local housing market recovers. The proposed changes are as follows: “The Island,” the new 60-acre village to compliment the MonteLago Village is under construction. They are removing hundreds of thousands of cubic yards of dirt to create the channel that will separate the island from the mainland of LLV. Plans call for three hotel sites, approximately 1,200 condominiums, restaurants and shopping. Several new residential areas will be opening up including building on both sides of the mountain just south of the Lake. A new ingress egress to the community is planned. It will run from the west end of LLV down to Sunset Rd at Costco. This will be a great improvement. A shopping center is also in the works with a grocery store. Right now one of the downsides to this community is the commute necessary for groceries and such.

July 3, 2009. The sales activity over the last 3 months reflects free-standing homes closing escrow ranging from $162,000 to $2,000,000 with a median selling price of around $370,000. Condo/townhomes during the same period reflects sales from $60,000 to $399,000. Of the 201 properties currently listed, 98 are represented as short sales or bank owned/foreclosures. Sales of resale homes and condos had been slow at Lake Las Vegas over the last few months but I see though that sale have picked up over the last 60 days, probably as a result of the great foreclosure opportunities. Resale free standing homes average $387 per sq. ft., asking price.

3 communities are building here at the time of this writing, May 25, 2009. They are selling new product ranging from condos and townhomes to free-standing homes. Bella Fiore is in the process of construction in the proximity of The Falls Golf Club. Base prices for this free-standing home communities range from $534,950 to $639,950 with home sizes ranging from 2,822 to 4,265 sq. ft. Some for these homes do offer golf and lake views. Tremezzo is selling in the north shore area with prices between $860,000 and $970,000. Home sizes range from 3,310 to 4,320 sq. ft. The Tremezzo prices have dropped substantially. The previous base prices ranged from $1,115,325 to 1,285,000. New condo options at Vita Bella are available with prices ranging from $299,995 to $525,995. Sizes range from 1,556 sq. ft. to 2,110 sq. ft.

The range of housing options is huge. Homes range from a 450 sq ft condo at MonteLago Village to custom homes well over 10,000 sq. ft. Condos alone range to over 4,100 sq. ft. MonteLago Village is a quaint shopping area with cobblestone streets and very much of an old world flavor to it. It is located between the MonteLago Casino and the Ritz-Carlton Hotel.

Among Lake Las Vegas Resort's wealth of amenities are a collection of three challenging signature golf courses, spas, gourmet restaurants, 2 casinos, a convenient helipad, a full service marina with watercraft rentals and yacht cruises.

There are a couple of downsides to Lake Las Vegas, other than the prices. One area of concern may be the lack of convenient services. Other than specialty shops, casinos and restaurants there is really nothing close-by. The closest shopping would be in a much older residential area close to Lake Mead Blvd. and Boulder Highway. Also, the master developer is involved in a bankruptcy as the present time. How that will ultimately affect this community remains to be known, but there is a solid base of homes and condos already in place.

Millie Fine
CENTURY 21 Aadvantage Gold
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