Ever wonder if a foreclosure might be a way to get a better deal on a new home? Or if it might work out better for you if you want to buy a home with bad credit? The thought makes sense — if the bank had to take it over the property, they probably want to price it to sell, right?
Not necessarily. According to Vija Williams, Zillow Premier Agent and Principal of VIJA Group Real Estate, you might get an even better deal on the homes that don’t sell at foreclosure auction and end up being listed as REO, or real-estate owned.
However, she goes on to say that consumers looking to buy higher value homes could use foreclosures as an opportunity to break in at a more affordable price. In her words, investors aren’t typically interested in higher priced homes and that could mean you have a better chance at getting in on the deal.
But what do high-priced foreclosed homes look like? And are they common? A recent search on Zillow uncovered the reality that even the most luxurious homes can end up in foreclosure. Here’s a list of some of the most expensive foreclosed homes on the market today.
______________________
SPONSORED: Find a Qualified Financial Advisor
1. Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes.
2. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with local advisors that can help you achieve your financial goals get started now.
______________________
Image Credit: Scott Lorsch / Unsplash.
11. $3.122 million
Location: 919 Malcolm Ave., Los Angeles, California, 90024
Beds and Baths: Six bedrooms and 3.5 bathrooms
Square Feet: 3,698
Special Features: Built in 1931, this Spanish colonial was remodeled in 1965. It features a pool and spa as well as a formal dining room designed for entertaining.
Image Credit: Zillow.com.
10. $3.267 million
Location: 12 Napoli, Newport Beach, California, 92660
Beds and Baths: Four bedrooms and six bathrooms
Square Feet: 4,900
Special Features: This contemporary home built in 1984 has solar panels and 13 rooms, and boasts views of the city, the water, and the mountains. It also has a pool, barbeque, and rooftop deck.
Listing: Zillow
Image Credit: Zillow.com.
9. $4.314 million
Location: 11372 Skyline Dr., Santa Ana, California, 92705
Beds and Baths: Six bedrooms and six bathrooms
Square Feet: 6,698
Special Features: Built on a private road, this home has views of Orange County. The Spanish-style hacienda was built in 1926.
Listing: Zillow
Image Credit: Zillow.com.
8. $4.743 million
Location: 10809 Wellworth Ave., Los Angeles, California, 90024
Beds and Baths: Five bedrooms and seven bathrooms
Square Feet: 5,118
Special Features: This house comes with a jetted tub, a pool, an elevator, and a city view. It was built in 2010.
Listing: Zillow
Image Credit: Zillow.com.
7. $4.794 million
Location: 44 Close Rd., Greenwich, Connecticut, 06831
Beds and Baths: Eight bedrooms and ten bathrooms
Square Feet: 9,458
Special Features: Built in 2002, this home on four acres is a Georgian estate with two entrance gates. It comes with gardens, a pool, verandas, a marble entrance, and more.
Listing: Zillow
Image Credit: Zillow.com.
6. $4.835 million
Location: 130 Auberge Rd., Saint Helena, California, 94574
Beds and Baths: Five bedrooms and 5.5 bathrooms
Square Feet: 4,715
Special Features: Overlooking Napa Valley, this home has verandas, a pool, a gazebo, and nearly 40 acres of land. True to its location, the home also comes with a wine cellar.
Listing: Zillow
Image Credit: Zillow.com.
5. $5.324 million
Location: 5131 Fisher Island Dr., Miami Beach, Florida, 33109
Beds and Baths: Four bedrooms and 4.5 bathrooms
Square Feet: 4,109
Special Features: This condo comes with amenities such as a hot tub, sauna, pool, a basketball court, and a tennis court. It also has water views and was built in 2004. The unit also comes with a $907/month HOA.
Listing: Zillow
Image Credit: Zillow.com.
4. $6.182 million
Location: 17588 Ranchito Del Rio, Rancho Santa Fe, California, 92091
Beds and Baths: Five bedrooms and eight bathrooms
Square Feet: 10,737
Special Features: This home was built in 2006 and sits on just over 13 acres.
Listing: Zillow
Image Credit: Zillow.com.
3. $6.851 million
Location: 1466 San Remo Dr., Pacific Palisades, California, 90272
Beds and Baths: Four bedrooms and five bathrooms
Square Feet: 4,085
Special Features: This house has a gazebo, fireplace, fountains, and ocean views. It has ten rooms, was built in 1950, remodeled in 1986, and designed by builder for the star Peter LoPresti.
Listing: Zillow
Image Credit: Zillow.com.
2. $8.074 million
Location: 5115 Northside Dr., Sandy Springs, Georgia, 30327
Beds and Baths: Eight bedrooms and ten bathrooms
Square Feet: 30,000
Special Features: This house was built in 2008 and sits on a 3.4 acre lot. It features a fireplace and 12 rooms, including a media room, exercise room, and wine cellar.
Listing: Zillow
Image Credit: Zillow.com.
1. $9.400 million
Location: 144 Huckleberry Rd., Wilton, Connecticut, 06897
Beds and Baths: 11 bedrooms and 12 bathrooms
Square Feet: 10,403
Special Features: Not just a foreclosure, this home built in 1926 is actually a Tudor mansion — and it comes with an 11-stall barn. The property also features a riding arena, a pool, two three-bedroom and two-bathroom cottages, a wine cellar, an eight-car garage, and more. It sits on 152.83 acres.
Listing: Zillow
Image Credit: Zillow.com.
