Realtors who sell homes in Spanish Trails, a prestigious gated community built in the 1980s five minutes from the Las Vegas "Strip," say the older community has been overlooked in the recent building boom, but good buys are now making the area high in demand.

"Spanish Trails is a prestigious guard-gated community, with three private golf courses and small gated communities within the subdivision," explains Realtor Gale Jones . "Spanish Trails was built in the 80's but its motif has lasted over the years. This desirable area is known the world around. It has hosted kings, celebrities and corporate CEOs - jet setters. Just five minutes from the Strip, this subdivision has become the most sought after address in Las Vegas."

Approximately eight miles from the Las Vegas strip, Spanish Trails consists of townhomes priced from the high $300's to luxury mansions priced over $7,000,000," say Realtors Michelle and Paul Francis .

"Quite honestly, this is one of our favorite communities with it's mature landscaping and diversity," says the Francis team. "Since it is a mature community and there is no major marketing for the resale homes, it often goes overlooked. In fact, during the recent mad rush to snatch up homes in Las Vegas, the appreciation in Spanish Trails took some time to catch on, and we were finding some great deals in here. Prices seem to have leveled off for now and we did notice some homes that actually expired which was unheard of six months ago."

They continue, "What is quite interesting though, is that with the recent high-rise craze going on, that properties in Spanish Trails are not selling as fast! Many of the townhomes in there are vacation homes and finding properties fully furnished is not too difficult. Since guard-gated communities on lush courses are going to be extremely rare in the near future (unlike luxury high-rise condos) we are definitely keeping our eyes on this community and there are some very nice properties available on the golf course currently available for sale. What is really nice about these townhomes is the great floorplans some of these have. Our opinion is for a long-term appreciation purchase, you just can't go wrong in Spanish Trails with the current Las Vegas real estate situation. Association fees may seem a little high for outsiders who don't know what they get with it, but when everything is factored in, we feel they are worth it."