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.
Gallery: See This Lavish Las Vegas Spread
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.
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