Las Vegas, NV (PRWEB) August 23, 2011
Lake Las Vegas real estate market trends may see pick up as foreign investors become educated on the development says local real estate agent Ashley McCormick. Lake Las Vegas is a community 17 miles from the strip on the outskirts of Vegas with a large 320 ACRE man-made lake and other exclusive amenities. Surrounded by vistas and miles of greenery sits the picturesque European-style local village with shopping, casinos, golf courses and restaurants.
According to McCormick bargain prices on properties in that area have increased tremendously over the last few years due to bank owned foreclosures. Lake Las Vegas homes and condos that sold in 2005, when flipping was the craze, have cycled thru short sales and foreclosures. Flippers walking away from their investments have caused prices in the community to drop below sixty percent of the original value to all-time lows. Investors are now taking advantage of this and getting considerable price reductions on lavish homes and condos in the area.
Lake Las Vegas condos for sale start at $50,000, enticing real estate investors who prefer condos for their low-maintenance benefits to buy site unseen. Some buyers are buying to hold for vacations as the amenities surrounding these Lake Las Vegas condominiums are not much different than those found in the environment of luxury Las Vegas high rise condos.
Lake Las Vegas homes are also becoming second residences to retirees and foreign nationals relocating part-time as starting prices for a house can be $150,000. This prime real estate community has become a haven for individuals and families who want to enjoy the freedom and security of raising a family away from the Las Vegas strip but still enjoy the winter climate, shopping, dinning and entertainment of Vegas.
McCormick predicts that Lake Las Vegas real estate prices will start to increase over the next 12 months as the new buyers share the community with visiting friends and family. Investors or intrested home buyers can contact Ashley McCormick for more information at 1-702-523-0916. Lake Las Vegas homes and condos for sale thru the MLS are available online at http://www.LasVegasRealEstate.org.