Lake Las Vegas real estate

Lake Las Vegas

Homes and real estate

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

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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.

The Ritz-Carlton Lake Las Vegas will close May 2. Casino Montelago, the only gambling establishment, will close its doors March 14. The two public golf courses at Lake Las Vegas have closed. The private South Shore Course is still open. I opinion is that both Montelago and the hotel will eventually be sold to other entities and will re-open. The shopping area, Montelago Village, is still open. The 493 room Lowes Lake Las Vegas, on the north shore, will remain open and, according to them, is performing ahead of last years numbers. This is mostly all bad news. There are presently 1,700 homes and condos finished here. I would expect foreclosures to dominate this marketplace into the foreseeable future.

February 7, 20010. The sales activity over the last 3 months reflects free-standing homes closing escrow ranging from $225,000 to $950,000 with a median selling price of around $375,000. Condo/townhomes during the same period reflects sales from $39,900 to $255,000. Of the 112 properties currently listed, 34 are represented as short sales or bank owned/foreclosures. Sales of resale homes and condos had been slow at Lake Las Vegas ,but sales have picked up probably as a result of the great foreclosure opportunities. Resale free-standing homes have a median asking price of $291 per sq. ft. .

There is only one builder offering homes here at the time of this writing, February 7, 2010. These condo options are available with prices ranging from $279,995 to $474,995. 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.

There are a couple of downsides to Lake Las Vegas, other than the present difficulities. One area of concern may be the lack of convenient services. Other than specialty shops 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.

Millie Fine
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