Auction action: luxury homes in Lake Las Vegas
Far afield but worth noting: The auction house J.P. King is auctioning off new luxury homes, condos and a few home sites in the troubled Lake Las Vegas development outside Las Vegas. The auction is scheduled for Sept. 13 in Henderson, Nev. More info here.
Those readers with good memories will recall that the Lake Las Vegas resort filed for bankruptcy in July in what the local newspaper reported as potentially one of the largest bankruptcies in Nevada history.
The auction website does not give the usual estimates of the homes' previous "value" and the opening bids. That said, these homes are on the pricey side of today's auction scene. Take 46 Grand Miramar, a 4-bedroom, 4 1/2-bath, 4,100-square-foot Mediterranean-style home valued by Zillow at $1.2 million.
-- Peter Viles
Your thoughts? Comments? E-mail story tips to Peter Viles.
Photo: Associated Press
When they filed for bancruptcy, they told the court they needed to release funds because the sewage lines under the lake were getting ready to break. "Their" lake was getting ready to go back to Lake Mead. They needed to start repairs immediately.
I was so jazzed! Lake Mead is where all that water belongs anyway! Those folks are swimming in our drinking water! Alas, it was just a media stunt and they got their cash.
Imagine this: Home buyers who though they were going to get a lakeside home get a dry lake side home. Three wheelers anyone? It's also really HOT out there, compared to Henderson, Las Vegas or Summerlin.
Posted by: anonymous | September 05, 2008 at 02:16 PM
Isn't this what happened to Lake LA? I suppose you've never tested the waters up there, but at one time it was touted as a beautiful lakeside community.
Posted by: kosher krab | September 05, 2008 at 09:35 PM
Its beyond belief that in a serious drought in the southwest, the feds allowed this water to be diverted.
Posted by: syscom3 | September 06, 2008 at 12:20 PM
This place never made sense to me looking at it as I drove past it several times a week.
Lake LV buys the excess water from the City of Hendersen, as they are NOT using their full allotment of Lake Mead/Colorado River water. Its use it or lose it when it comes to water rights/allotments in the West.
For Hendersen they get income and keep their allotment. Though, it is such a waste of resources.
Posted by: NevadaGal | September 06, 2008 at 09:33 PM
In case anyone wants more information about the auction process or the homes up for auction, check out http://www.OwnLakeLasVegas.com/Auction.
Posted by: Tony Delasquez | September 09, 2008 at 06:34 AM
Hey Tony,
If you find any takers, let them know I've got some swamp land in Florida that's a really good deal, too.
Posted by: anonymous | September 09, 2008 at 10:11 AM