Thanks for joining us. Im bob massi. Civil war commander George Custer is said to have uttered the famous words, its not how many times you get knocked down that counts. Its how many times you get back up. Nowhere is that spirit more evident than in las vegas, and we found one spot where it looked like they might not get back up, but they did. So, here i am in Reflection Bay in henderson, nevada, a place that went from riches to rags and now back to riches, one of the greatest stories of redevelopment and resurgence in america. This entire area five years ago was ground zero of the realestate crisis in america, and today it is an american success story. Lake las vegas is a beautiful, 328acre lake that was actually manmade. It was a massive project spanning decades, creating the lake, the golf courses, hotels, and luxury communities in the middle of the vegas desert. But when the recession hit, the area was devastated. This was the kind of situation thats very rare to have a 300acre lak
Thanks for joining us. Im bob massi, the property man. Las vegas was the epicenter of the housing bust, and nowhere was that more evident than a place called ascaya. This massive Mountain Development came to a halt, but it is back in a major way, and its a place you really need to see to believe. Im standing at one the most amazing developments ive ever seen. I mean, it is truly majestic. The mountain was purchased in 1989 by a man with a vision dr. Henry cheng. Yes. He had vision. What he did is he came here. He built all these lots. It takes a Staggering Amount of work to get these mountaintop lots ready for homes. Youve got water. You have electricity. You have gas. But the developer took the time to do it right, before listing them for sale. Typically, what happens is the developer will do maybe a few lots or wait for reservations and, with those funds, create the next phase. In this situation, everythings done. The lots are graded. Utilities are in. The developers invested hundred
Thanks for joining us. Im bob massi. Civil war commander George Custer is said to have uttered the famous words, its not how many times you get knocked down that counts. Its how many times you get back up. Nowhere is that spirit more evident than in las vegas, and we found one spot where it looked like they might not get back up, but they did. So, here i am in Reflection Bay in henderson, nevada, a place that went from riches to rags and now back to riches, one of the greatest stories of redevelopment and resurgence in america. This entire area five years ago was ground zero of the realestate crisis in america, and today it is an american success story. Lake las vegas is a beautiful, 328acre lake that was actually manmade. It was a massive project spanning decades, creating the lake, the golf courses, hotels, and luxury communities in the middle of the vegas desert. But when the recession hit, the area was devastated. This was the kind of situation thats very rare to have a 300acre lak