Real Estate PapazazziCosmetic dentist sells one residence, buys another in Summerlin

Prominent Las Vegas cosmetic dentist Robin Lobato downsized from a 7,000-square-foot home in The Ridges to one with 5,000 square feet of living space in The Arbors. Both are villages in Summerlin, a master-planned community on the far western edge of the Las Vegas Valley.

Lobato, 43, and his wife Angela, 39, said they realized their home at The Ridges was a bit too roomy for the couple and their two children -- son Blake, 10, and daughter Sydney, 8.

"It was too much home, too big for us," Dr. Lobato said of the residence that sold for $5.6 million.

Situated on over one-half acre, the single-story home at The Ridges rises 30 feet above the road and features panoramic views of the Strip, Bear's Best golf course, Red Rock Canyon to the west and Sunrise Mountains to the east. The asking price on the home was $5.99 million.

"It is a Smart Home with remote control that runs everything, including the 11 plasma televisions and security system," Lobato said.

Lobato is a native Las Vegan who has practiced dentistry for 15 years. He was the winner of the Readers Choice Award in the category of dentistry in the January 2008 issue of The Magazine of Summerlin & Beyond, while Las Vegas Life magazine named him on its Top Dentists list for General/Cosmetic Dentistry in its October 2007 issue.

Lobato said he entered dentistry "because I like being my own boss and working with my hands and giving people back their smiles."

"They come with one look and leave with another," he said.

The most commonly made appointment is for maintenance, according to Lobato.

"We are coming out of the huge makeover treatments and just like the housing market, we are settling down. But we still have many patients that spend a lot on veneers and implants, which I place and restore."

The Lobatos closed escrow on the sale of the custom-built residence Oct. 25, 2007. Realtor Ken Lowman of Luxury Homes of Las Vegas handled the sale. The home was on the market for 118 days, he said.

The 2-year-old home sold furnished to a local buyer, who declined an interview. Unique features in the estate home include a circular bar, a water wall entry feature, great room with four televisions, infinity edge pool overlooking the valley and mountains, a wine cellar, four-car garage and second-story observation loft.

Lowman said the upper end of the Las Vegas housing market has held up reasonably well during the current slump.

'The ultra-luxury market remains the best performing part of the residential real estate market today," Lowman said. "We have had four closings in the past five months for over $3,000,000 and I have finished the year with more momentum than it began."