Foreclosures (bank owned property) and Short Sales (still privately owned but lender is willing to sell for less than owner’s mortgage amount) have become a steady diet for new LUXURY home-buyers in 2010 and most likely will be part of the real estate landscape for the next 2 to 3 years. Not all Foreclosures and/or Short Sales are necessarily great opportunities. Each property is unique unto itself and could have issues that Buyers shouldn’t deal with. However, there are a number of outstanding buys of LUXURY Foreclosed properties and Short Sales. It’s up to your realtor to guide you.

My focus is LUXURY properties (priced from the $500’s) where I research all LUXURY Foreclosures and Short Sales currently listed on our MLS and hand-pick those that are truly excellent buys. So much of how a property gets priced is based on the individual lender and their business approach to the liquidation of loans (properties) on their balance sheet. 

Here’s a list of the LUXURY Foreclosures and Short Sales listings that are what I consider to be BEST BUYS. I update this list every Monday but add new listings as they hit the MLS.

Please email me with your LUXURY Dream Home criteria - desired neighborhood (if known), size, price range, etc. -  if you don't find any properties that match your needs.