Although Las Vegas is located in the middle of a Nevada desert, the town is under water when it comes to housing values. But that doesn't mean home buyers aren't spending big money there. It just means they aren't spending what they used to.
A case in point is 23 Golden Sunray Lane in the Promontory community in the Ridges. At a final sales price of $7 million, the 12,921-square-foot house was the highest price sale in the Las Vegas-Henderson market in 2010, according to luxury real estate agent Rob Jenson.
But the original list price was $13.995 million. And over a seven-month period, the asking price was lowered to $8.895 million.
Similar "bargains" also can be found among the other most expensive transfers last year. The second highest priced house was a 10,582-foot place on 1.1 acres in the Highlands Country Club neighborhood. It was listed at $6.995 million in February. But when the sale closed in July, the contract price was $6 million.
Not every seller had to cut a deal, though. And it doesn't take months to sell a place, either. Even at these prices.
For example, a 10,300-foot Tuscan-style home in Summerlin sold twice in 2010. The first time, it went for $4 million, according to Jenson, who hangs his shingle at RE/MAX. And the second time, the contract price was $4.275 million – in cash! And a 15,000-foot monster at the Anthem Country Club in Henderson went to contract in just over a month at $4.7 million after it was listed at $4.999 million.
