Las Vegas and Henderson Homes and Real Estate

Lake Las Vegas boasts some of the finest homes in all of Greater Las Vegas.  The resort has been hard hit by the recession and has seen some of the largest drops in real estate home values of anywhere in the region.  Now that the community is reported to be rising from bankruptcy and is looking to continue development, several of the undervalued homes should be an attractive buy for deal seekers in the market.

Here is a taste of the beauty of Lake Las Vegas...

Here are available Lake Las Vegas area homes for under $500,000 available today!

Lake Las Vegas, the luxury community in eastern Henderson, NV has recently been granted to right to emerge from Chapter 11 bankruptcy protection after almost two years.  The U.S. Bankruptcy court in Las Vegas approved the resort's restructuring plan, allowing it a fresh start under the ownership of Highland Capital Management and lenders led by Credit Suisse Group Inc.

One important aspect of the plan is that it allows the resort to continue development of it's 3,600 acre masterplan, allowing for long term sustainability.  Atalon Group is the company responsible for managing the development and operations until at least 2011.

Lake Las Vegas is one of the most exciting new developments in Greater Las Vegas in recent years, and an important part of the City of Henderson.  The award-winning resort once featured two award-winning golf resorts designed by Jack Nicklaus (Reflection Bay Golf Club and Southshore Golf Club) and one by Tom Weiskopf (The Falls Golf Club).  These courses have been closed over the past year and resort guests and residents are anxiously awaiting their return.

In addition, MonteLago Village at Lake Las Vegas - a once triving amenity to the resort - should also benefit from a new surge of capital and construction around the community.

There are currently a number unprecedentedand exciting real estate opportunities at Lake Las Vegas.  Because of the nature of the bankruptcy, some of the best deals in town can be found at this community, before the resort fully recovers.

If you are interested in Las Vegas, Henderson, of Lake Las Vegas real estate, contact:

Michelle Natale
The Natale Team
Prudential Americana Group

www.natalesellsvegas.com

Michelle Natale leads a top 25 ranked team of agents for Las Vegas based Prudential Americana Group, the largest real estate brokerage in the state of Nevada. Michelle started her career in real estate over 10 years ago, and is ranked in the top 1% nationally in Prudential's national network since 2000.

The Las Vegas Convention and Visitors Authority reported a rise in visitors to Las Vegas for the eighth straight month, an exciting trend that continues in the local economy.  According to the LVCVA, almost 12 million peoplde have visited Las Vegas so far in 2010, a 1.3 percent increase over the total visitors last year at this time. 

In other good news, convention attendence is up for the second straight month, 2.9 percent increase over last year.  Additionally, the average room rate was up 3 percent over last year in April to $96.87.  The overall hotel occupancy rate in April in Las Vegas was 84%, even though the city now has 8,300 more hotel rooms than in April 2009 (due in large part to CityCenter).

All of the statistics bode well for a city that has been hit hard by the recession and lack of consumer spending which has further added stress to our housing market.  If this data holds steady through the summer it will be a huge lift to our job market and will have long term positive factors on the real estate market that by the numbers has seemed to have bottomed over the past 12 months (give or take 5% in pricing).

Source:  Las Vegas Review Journal
Howard Stutz, June 9, 2010

If you are interested in Las Vegas, Henderson, Green Valley, North Las Vegas, Summerlin, Seven Hills, Lake Las Vegas, or Southern Highlands real estate, contact:

Michelle Natale
The Natale Team
Prudential Americana Group

www.natalesellsvegas.com

Michelle Natale leads a top 25 ranked team of agents for Las Vegas based Prudential Americana Group, the largest real estate brokerage in the state of Nevada. Michelle started her career in real estate over 10 years ago, and is ranked in the top 1% nationally in Prudential's national network since 2000.

Just a reminder that every Tuesday from 4:00 pm to 8:00 pm in Summerlin's The Garden's Park, over a dozen vendors offer produce and handmade products from all over the Western United States.

Regularly featured items include fresh fruits, vegetables and herbs; homemade salsas and sauces; soaps, lotions and other beauty products; crafts; and a variety of prepared food items.

WHEN:
Tuesday, January 05, 2010 to Tuesday, December 28, 2010
4-8 p.m. every Tuesday

WHERE:
The Gardens Park, 10401 Garden Park Drive

Price:
Free

For more information, visit www.lasvegasfarmersmarket.com or call 702-562-CORN (2676).

If you are interested in Summerlin real estate, contact:

Michelle Natale
The Natale Team
Prudential Americana Group

www.natalesellsvegas.com

Michelle Natale leads a top 25 ranked team of agents for Las Vegas based Prudential Americana Group, the largest real estate brokerage in the state of Nevada. Michelle started her career in real estate over 10 years ago, and is ranked in the top 1% nationally in Prudential's national network since 2000.

Trulia.com, the real estate information resources website published a report today about the value in buying a home versus renting a home in today's market.  Trulia's method to determine what decision a buyer should make is based on simple math.  If a home costs more than 15 times what you would pay in a year to rent, then you should rent.  If less, then buy.

For this formula, Las Vegas, Miami, and Phoenix are all examples of cities where you should buy and not rent (Las Vegas is 11 times). 

However, recent national survey's suggest that over 70% of people would rather rent in this market then buy, even with all of the amazing deals out there.  The odd part about this mass public opinion is that people are saying they want to buy homes when the market is high and rent when the market is low.  This illogical thinking defies what most would consider a smart purchasing decision: buy when prices are lower.

This offers some interesting insight on the difference between current buyers in our market that we are working with day-to-day.  There are those who see the value in unstable times and take advantage of it by purchasing a home, and those who will wait to pay a premium for something as long as they know for sure that everyone else is too.

I wish more people were the first group.  For the uneven swing in herd mentality is exactly what causes the bubble and bust situation in the first place.

If you are interested in Las Vegas, Henderson, Green Valley, North Las Vegas, Summerlin, Seven Hills, Lake Las Vegas, or Southern Highlands real estate, contact:

Michelle Natale
The Natale Team
Prudential Americana Group

www.natalesellsvegas.com

Michelle Natale leads a top 25 ranked team of agents for Las Vegas based Prudential Americana Group, the largest real estate brokerage in the state of Nevada. Michelle started her career in real estate over 10 years ago, and is ranked in the top 1% nationally in Prudential's national network since 2000.