House of the Day: Almost a Sure Bet in Las Vegas

If there was a shred of doubt left in your mind that Las Vegas' real estate market has not only hit bottom but may be burrowing itself deep in the desert sand, take a gander at this 11,640-square-foot beauty whose price has dropped from $11.5 million to $3.9 million in three years.

It's located in the premium gated 'hood of The Estates at Southern Highlands (think tree-lined streets, lots of lush fairways, cascading waterfalls -- and that's just the stuff surrounding the one-acre property).

This Italian-style villa screams "old world elegance." It has Swarovski Crystal chandeliers, 187 hand-picked slabs of granite and Giallo Antico marble, Crème Marfil pillars, hand-hewn wood floors and one-of-a-kind hand-made Italian furnishings that are being sold with the estate. The formal dining area has built-in cabinetry custom-made in Italy. There is a music room, a 10-seat home theater, and an owners' wing with entry doors created by artist Leslie Rankin.

See This Lavish Las Vegas Spread
See Gallery
House of the Day: Almost a Sure Bet in Las Vegas

The master suite is where I want to go when I die -- a piece de resistance with a two-person walk-in steam shower with rain head, oversize hot-air jetted tub with custom sensory lighting, a private sauna, and expansive his and hers closets -- replete with a glass-enclosed area dedicated to just shoes.

Since this is Vegas, the outdoor living spaces are resort-scale -- lavish pool area, outdoor dining and living rooms. The outdoor kitchen has a built-in stainless steel barbecue and counter seating.

And honestly? Can prices in Las Vegas seriously fall much beyond this?

Tanya Murray of Realty Executives in Las Vegas has the listing.

See more Houses of the Day and otherhomes for saleand for rent in Las Vegas on AOL Real Estate.

Got a tip for House of the Day? Know of an exceptional or unusual property currently listed for sale? Please email with your suggestions and be sure to include links to listing details and photos. (Due to the volume of response, we unfortunately are unable to respond to each submission.)

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.

See more celebrity real estate
Read Full Story

Find a home

Powered by Zillow