Las Vegas luxury homes sell.

We all know that Vegas residential real estate market is soft today. Well, most of it is. One segment is still doing quite well. That is the luxury end of it, homes that go for over $1 million each.

According to local Realtors, newer neighborhoods are doing better than old. Some of the former are The Ridges in Summerlin, Tuscan Hills in Southern Highlands and Canyon Edge in Henderson. Buyers in this category expect high-tech media rooms, wine cellars and resort-caliber backyards that can be included in the building plans. Activity is more tepid at recognized communities like Spanish Trails and the Fountains in Green Valley.

Luxury purchaser is much less affected by the prevailing mortgage lending conditions than the broad market is. Interest rates and loan terms mean zero when he can just whip out a virgin-leather checkbook, write one for a cool $2 million and pay for it. Wouldn't that be nice?