One great thing about Las Vegas real estate is the variety- yes, variety. Contrary to popular belief, Las Vegas is a mecca of various neighborhoods, each offering their own personal positive attributes and value. So, how has the economic fluctuation in real estate affected individual neighborhoods in Las Vegas? And (more specifically) how are areas like Lake Las Vegas fairing in this shaky economy?
According to www.LasVegasRealEstate.org, their prediction of Lake Las Vegas property values (from 1-year ago) shows that some Lake Las Vegas properties may have doubled in value. Homes in this area may be considerably undervalued.
The sheer beauty of the Lake Las Vegas area alone, is enough to warrant such discussion among potential buyers and investors alike! Located 17 miles from the Vegas Strip, Lake Las Vegas features a 320 acre man-made lake, a European inspired stylish local "village" that is home to several shops, casinos, golf courses, eateries and more. Boasting some of the nicest luxury homes in the U.S., Lake Las Vegas also houses some great real estate bargains; condos and homes there were at 20-year lows 12-months ago.
Realty One's Ashely McCormick, claims that Lake Las Vegas "may be (the) most overlooked community for real estate investors due to location". Prices in the area have increased over last few years due to foreclosure rates.
That's the one thing you can count on in this topsy-turvy economy: real estate in Las Vegas is ever-changing.