Below are eight multi-million dollar foreclosed homes that are back on the market throughout the United States.
Laguna Beach, CA
Asking price: $18 million
Located in “the Gold Coast of Orange County,” this impressive home with views of Catalina Island and the Pacific Ocean fell into foreclosure in 2010, the same year it was built. At one time, it was in escrow for $28 million. Now, the home is available through a private investment group for $18 million. It has never been occupied.
The house has an oversized master suite and 3 additional bedrooms, 6 1/2 bathrooms and a garage that can accommodate 20 cars. The kitchen is outfitted with high-end stainless steel appliances, granite counter tops and a butler’s pantry. There’s also a screening room and an atrium foyer. Elsewhere on the 11-acre property, are an infinity edge pool, spa, gardens and a fire pit.
“A home of this size on a parcel of land over 11 acres in this area is unheard of,” noted the listing broker Richard Leavitt. “It could never be built again.”
This sprawling estate is a throwback to the Gilded Age — just with all new appliances. Originally built in 1891, the estate was foreclosed on last year and then renovated by one of its lien holders. It was listed last summer for $7.9 million and remains on the market.
There are 7 bedrooms, 7 1/2 bathrooms, a ballroom, music room and a library. Located at the highest point in Newport, there are impressive views of the ocean and — on a clear day — Martha’s Vineyard, from the rooftop deck. The property also includes 7 acres of manicured lawn and an extra lot with an additional lot available.
Because of its sheer size (22,000 square feet) and Mediterranean-style architecture, this estate is unlike any other home in the area, said listing broker Suzanne Close.
It initially hit the market nearly three years ago for $5.9 million. After the bank took possession of the property in 2011, it was re-listed for $3.7 million.
Built in 2006 on 3 1/2 acres, this home was made for people who love to cook — or, have someone cook for them. There are four kitchens inside (two on the main level, one in the guest suite and an additional one in the basement), as well as an outdoor kitchen near the pool area with gas and charcoal grills and a pizza oven.
Other pricey details include hand wrought iron work, travertine floors and limestone around the pool deck.
This shingle-style mansion with 350 feet of frontage on Lake Minnetonka was originally listed in 2009 for $11.5 million, but the price was reduced to $9.9 million and then again to $8.9 million. Now the home is owned by the bank and listed for $6.25 million.
Designed by an architect from Sag Harbor in 1999, the house is very much in keeping with the high-end homes in the Hamptons, said the listing broker Ellen DeHaven. “It looks like a home you could airlift onto Long Island, but [Lake Minnetonka is] our version of the waterfront.”
The home includes 4 bedrooms, 6 bathrooms, a game room and a carriage house. Despite being bank-owned for 6 months, it has been exceptionally well maintained, DeHaven noted, with a refurbished roof and refinished floors.
La Jolla, CA
After languishing on the market for several years at an asking price of more than $7 million, this prime beach property fell into foreclosure last year. Now it’s listed by the bank for $5.9 million.
Listing broker David Finburgh admits that the place is just in “fair condition,” but there’s plenty of great potential for this 11,000-square-foot home with amazing views. One highlight: the 3,700-square-foot master suite, with his and her bathrooms. There are also 4 other bedrooms and optional additional bedrooms. Outside, there is a pool and spa.
The home, which was built in 1991, sits on 3/4 of an acre on top of one of the highest points in La Jolla, a neighborhood where foreclosures like this are a rarity, assured Finburgh.
Palm Desert, CA
The last time this home in the gated Bighorn Golf Club community sold in 2007, it went for $6 million, according to Signe Beck, of Luxury Homes by Keller Williams. But after being foreclosed on in March 2010, its price has come down significantly. It’s been on and off the market over the past two years and was recently re-listed last month for $3.5 million.
The Palm Springs home boasts 5 bedroom suites, including a master suite with its own fireplace, his and her bathrooms and French doors that open onto the pool. The chef’s kitchen has a pair of Viking refrigerators and a view of the putting green and the waterfall out back.
Located in Monterra Ranch, an exclusive gated community with a private golf course and club, this home was foreclosed on in 2009, then listed for sale by Monterey County Bank for $4.65 million. The bank later slashed the listing price to $3.99 million. Over the past few months, several lower offers have been declined, said listing agent Joy Jacobs.
The Mediterranean-style home has 4 bedrooms, 6 bathrooms, a gourmet chef’s kitchen, game room, wine cellar and library with high-end details like limestone floors and vaulted ceilings.
Cherry Hills Village, CO
Originally listed in 2008 for $8.9 million, the price on this home was dropped to $6.9 million in 2010, then to $5.9 million a year later. The house was finally offered through a public trustee sale and bought by the original lender in September of last year. The bank is currently listing the home for $4.6 million.
Built in 2007, this 11,135 square-foot stone home sits on 2 acres and has 5 bedrooms and 9 baths. There’s a large chef’s kitchen with a wood burning fireplace plus an artist’s studio.
But perhaps the biggest selling points are the impressive views of the mountains and the town. “You look at Pikes Peak out the front door and Longs Peak out the back door, and there are 125 miles between the two of them, it’s dramatic,” said listing broker Tim Colleran.
Source: By Jessica Dickler @CNNMoney