Lake Las Vegas

Lake Las Vegas Links up in the Air

The fate of the Falls golf course at Lake Las Vegas is in the hands of a federal bankruptcy judge. U. S. Bankruptcy Judge Linda Riegle is considering whether to let a Texas company take possession of a golf course. She took a step toward letting Carmel Land & Cattle Co. foreclose on a $15 million loan for the course, but postponed a final ruling until at least next month.

One person in particular is watching the proceedings very carefully. The previous owner of Lake Las Vegas, Ron Boeddeker, could lose millions if the course went into foreclosure because he personally guaranteed the $15 million loan (which is probably worth less than the amount of the loan).

Arguements continue about the viability of the course, whether it will make money and its impact on the community. Lake Las Vegas Joint Venture sought bankruptcy protection earlier this year in July. Despite the filing, home sales continued in the community.

However, one of the main draws of Lake Las Vegas homes are the golf courses. There are roughly 1,600 completed luxury residences, ranging from estate size luxury homes to townhomes and upscale condominiums. Lake Las Vegas also boasts two hotels, various boutique shops, restaurants and a casino.

Auction at Lake Las Vegas

If you haven't been keeping up on real estate news in the Las Vegas valley, there have been several developers that have filed bankruptcy. Most of the projects involved were nothing more than a plot of land or the shell of a building, but not all. Lake Las Vegas resort filed some time ago and is auctioning off some property.

Bargains at Lake Las Vegas

The auction will take place on Saturday, September 13th, 4 p.m. The properties to be auctioned include 11 fully furnished condominiums with five selling absolute (studios to two bedroom units), 12 luxury homes (three to five bedroom, some fully furnished) and four homes sites.

Lake Las Vegas real estate offers some of the most luxurious residences available in the Las Vegas valley. There are luxury condominium communities and several neighborhoods of semi-custom and custom luxury homes. The community has several events throughout the year, not to mention various water sports and great golfing.

This isn' t the only auction coming up at Lake Las Vegas. There is a silent bid auction going on for four Bella Fiore homes. Program registration runs until 6 pm on September 15th, after which no further registrations will be accepted. The household having the accepted bids will be notified on September 16.

For listings of Lake Las Vegas homes or information about either of the upcoming auctions including bidding requirements and rules, call me at 702-493-8033.

V at Lake Las Vegas specials

Despite the trouble that the developer of Lake Las Vegas has been having, it hasn't effected residential sales in the slightest. Centex Homes is closing out their luxury townhome community Lake Las Vegas and is offering some very nice incentives with the last units.

V at Lake Las Vegas is offering 3% towards closing costs and up to $25,000 for a designer furniture package. Homes purchased before the end of February are eligible to receive a Silver Membership to the Club at Lake Las Vegas (about a $21,000 value). Memberships are limited, and homes are on a first come, first serve basis. Of course, certain restrictions and qualifications may apply. Call 702-493-8033.

Related:

V Townhomes Closeout

V townhomes closeout

V is a luxury townhome community in Lake Las Vegas built by Centex Destination Properties. Currently there are only six townhomes left, so if you are looking for a luxury townhome in Lake Las Vegas, you better move fast. V prices start at $499,000.

V townhomes offer great views of the lake, fairways and the surrounding mountains. The community has both single and two story floor plans. Call 702-493-8033 for the remaining units and pricing.

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