Fancy Foreclosures: Here Are 5 of the Most Expensive on the Market Now

Foreclosures across the country are rising for the second year in a row. A foreclosure sale typically occurs when homeowners are unable to pay their mortgage and default on their payments.

But the spike in foreclosures could be a silver lining for prospective buyers looking for a ritzy residence, who might be able to negotiate and score a deal.

This week, we found five of the most expensive foreclosures available for sale. All are lavish and luxe, with some newly listed and others lingering on the market.

For a full look, scroll down.

1549 Lindacrest Dr, Beverly Hills, CA

Price: $5,490,000
Tuscan villa: This four-bedroom mansion offers a taste of Italy in Beverly Hills. The highest-priced listing here, it has also been on the market the longest: for over a year.

The 4,583-square-foot home with its arched entry, limestone and hardwood floors, and coffered and beamed ceilings could easily blend in with the Tuscan landscape. Built in 1927, it features a sunken living room, wood-paneled den, fitness center, and chef’s kitchen with “professional appliances.” The primary suite is accessed by a “sweeping staircase” and boasts a white onyx fireplace, sauna, and private terrace.

The purchase “includes an additional parcel,” according to the listing.

———

 7737 SE Loblolly Bay Dr, Hobe Sound, FL

Price: $2,499,900
Mansion by the marina: This recently updated, 6,361-square-foot beauty is located along the marina side of the private club known as Loblolly Bay.

The five-bedroom, six-bathroom mansion has three levels, which include numerous decks, “multiple living rooms,” a library, and an indoor pool. It’s also equipped with an elevator. The full-floor primary suite features a dressing area, an office, and two open-air decks to soak in the water views.

Homeowners association fees are $555 a month. Club membership is required for access to the golf course, pickleball and tennis courts, fitness center, and salon and spa.

———

 10903 Lakeside Forest Ln, Houston, TX

Price: $1,699,000
Sprawling spread: While the lowest-priced listing of the bunch, this 13,503-square-foot mansion is also the largest.

Tucked away on a wooded acre, this five-bedroom mansion was built in 1983 and recently updated. Modern upgrades include marble floors, coffered ceilings, casement windows, and recessed lighting. The chef’s kitchen has quartz countertops, custom cabinets, high-end appliances, and an oversized island with seating.

The home needs some interior finishes, and the pool and hot tub out back have been only partly constructed.

———

 40660 N 109th Pl, Scottsdale, AZ 

Price: $2,094,000
Desert deal: This decorative block home boasts stunning views of the desert.

Built in 1995, the 6,500-square-foot residence features travertine tiles, coffered ceilings, Venetian plaster walls, and limestone fireplaces. Each of the four bedrooms is en suite and includes private balconies. Amenities include a wine cellar, office, media room, and two bars. The updated kitchen has mahogany cabinets, granite countertops, and double ovens. There’s an infinity pool and spa out back.

While the listing claims it is an “absolute steal at $322 per square foot,” it also notes the property “has been priced for its condition.”

———

 8520 W Saint Francis Rd, Frankfort, IL

Price: $3,150,000
Newly finished estate: This bank-owned, 12,000-square-foot megamansion has never been lived in, despite being built in 2015.

The three-level, six-bedroom Diamond Estates Manor features an open floor plan with soaring ceilings, heated flooring, a curved floating staircase, and a two-story great room with a double-sided fireplace. The chef’s kitchen has a walk-in pantry with a wine cooler, custom cabinets, high-end appliances, and an oversized island with seating. The primary suite has a vaulted ceiling, a “circular reading room,” and a soaking tub.

The 5-acre property is lined with fruit trees and flower gardens. It also features an outdoor kitchen, gazebo, hot tub, four-car garage, RV carport, and even a par-3 golf hole.

The post Fancy Foreclosures: Here Are 5 of the Most Expensive on the Market Now appeared first on Real Estate News & Insights | realtor.com®.