Lake Tahoe estate Wovoka sells for $20.9 million

RENO (AP) - An architecturally acclaimed home on the southeast shore of Lake Tahoe has sold for $20.9 million.

The geometrically designed Wovoka Estate is named after a Northern Paiute leader who was born in Nevada in 1856 and is credited with developing the tribal Ghost Dance across the West.

The five-bedroom, six-bath lakefront home was built on 2.7-acres near Zephyr Cove in 2001. Designed by renowned architect Theodore Brown, it has 9,100 square feet of living space, 19-foot tall windows and a boulder in the living room. Waterfalls, a swimming pool, spa, boathouse and private pier accompany a private sandy beach just off of U.S. Highway 50 in Glenbrook.

Listed in June for $24.9 million, it previously was owned by a trust of the family of the late Tahoe casino executive William Ledbetter.

The recent sale to an undisclosed buyer is part of a trend that sees high-end sales there picking up the past year, according to Bill Dietz, sales president for the realtor, Tahoe Luxury Properties.

"Median home price, as well as sales volume, indicates that Tahoe's overall market found the bottom in late 2011 into early 2012 and is actively rebounding," Dietz said. "Lakefront buyers are taking advantage of lower prices relative to five years ago and due to the finite inventory among lakefronts, prospective buyers are aggressively pursuing available homes."