Las Vegas Luxury Properties Link

Lake Las Vegas is a beautiful community just east of Las Vegas. This 2,600 acre master planned development by Transcontinental Properties features a beautiful 320 acre lake with over 10 miles of shoreline. There are great attractions in Lake Las Vegas including gaming at Casino Monte Lago and Hyatt, to boating and swimming at the Yacht and Beach Club, to specialty shops with cobblestone streets. If you're a golf enthusiast, the Jack Nicklaus designed course will thrill you. Now Lake Las Vegas has seen it's share of bad news. The developers are currently in the process of filing for bankruptcy for the community. Lake Las Vegas Real Estate has an article from the Review Journal about the status. That article was written in August of this year, and given the recent financial drama that is happening around the world it doesn't look too bright for the developer's to obtain a loan from Wall Street. Where does that leave the community? Prices are my first thought. When this project originally opened, I thought prices were quite over-inflated. Since our downturn in the market, prices have come down significantly and values are more appropriate for the area. Let's go over some statistics about Lake Las Vegas Real Estate as of September 30th 2008:

1. There are approximately 190 properties in Lake Las Vegas
2. There are 80 Homes on the market
3. There are 11 Townhouses on the market
4. There are 99  Condos on the market
5. 39 properties are in foreclosure
6. 51 properties are in Short Sale(Pre-foreclosure)
7. Prices range from $39,000 to $12,500,000

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