It's sorta funny after you have been in Evergreen for a while. It's a pretty small mountain town nestled in the beautiful Denver Foothills. When we were first shopping for a home here years ago we met a a couple in restaurant that told us "you have to live north of Evergreen Lake". They were very animate about it. It was border line strange to us. We then began to meet people from north and south of the lake. All of them were very happy with their choice of location.
For people that work in Denver being north of the lake saves them a few minutes off their commute. The people that chose to live south of the lake (in general) enjoy a little less density and more land. Not always because their are some very nice lots north of Evergreen Lake. As a general rule the bigger lots are south of Evergreen Lake.
In the past it has been true that the property value north of the lake is higher. That is beginning to change. Prices in the last few quarters have been equal if not higher in the south neighborhoods.
Some of the notable neighborhoods in North Evergreen are Hiwan, Soda Creek and Sunset Ridge. The nice thing most people find appealing about these areas are the close proximity to I 70.
Some of the South Evergreen areas are Hangen ranch, Evergreen Meadows and Bear Mountain just to mention a few. You can always search my site for listings by neighborhood.
To sum things up we ended up south of Evergreen Lake and could not be happier. The elementary schools are fantastic (the kids in north and south Evergreen go to the same middle and high school).