{"id":977,"date":"2011-08-22T21:18:44","date_gmt":"2011-08-22T21:18:44","guid":{"rendered":"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/?p=977"},"modified":"2014-11-25T15:04:23","modified_gmt":"2014-11-25T20:04:23","slug":"haute-estates-five-luxury-foreclosed-home-for-sale","status":"publish","type":"post","link":"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/haute-estates-five-luxury-foreclosed-home-for-sale\/","title":{"rendered":"Haute Estates: Five Foreclosed Luxury Home for Sale"},"content":{"rendered":"<p>An increasing number of luxury homes for sale are entering the foreclosure market and according to official data, 335 percent more properties prices at $1 million and above were foreclosed in 2010 compared to 2007.<\/p>\n<p>During the current tough economy, more high-end homes are entering foreclosure. In 2007, million-dollar foreclosed homes for sale only accounted for 1.2 percent of the entire foreclosure market whereas in 2010, that number rose to 2.3 percent.<\/p>\n<p>Job loss and cutbacks have made it increasingly difficult for even wealthy people to maintain their mortgage payments and reports are indicating that some rich people are ceasing to pay their mortgages because the property value of their home has dropped below the unpaid balance on the mortgage. In these cases of negative equity, many are finding it makes more sense to just walk away from their home. The good news is for buyers \u2013 when million-dollar properties are foreclosed, it means buyers have the opportunity to purchase high-end homes are low rates.<\/p>\n<p>Overall, however, RealtyTrac notes that the overall number of foreclosures across 178 American cities dropped in the first six months of 2011 compared to the same period in the previous year. The government is looking at rental plans for foreclosed homes and some are hopeful that rental plans may provide a required nudge to property prices.<\/p>\n<p>Here are five of the most expensive foreclosed luxury home for sale that are currently on the market to give you an idea of what\u2019s going on in the world for high-end foreclosure.<\/p>\n<p><strong><span style=\"text-decoration: underline;\">1. The Villa Mar Vista Estate, Laguna Beach, Calif. <a href=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/11.jpg\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-979\" title=\"1\" src=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/11.jpg\" alt=\"\" width=\"639\" height=\"329\" srcset=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/11.jpg 639w, https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/11-300x154.jpg 300w\" sizes=\"(max-width: 639px) 100vw, 639px\" \/><\/a><\/span><\/strong><br \/>\nList price: $20 million<br \/>\nBedrooms: 4<br \/>\nBathrooms: 7<br \/>\nSquare footage: 11,333<br \/>\nLot size: 11.8 acres<br \/>\nBuilt in: 2010<\/p>\n<p>Features: Home theater, infinity-edge pool, sprawling gardens, terraces with views of Pacific Ocean, spa, private heliport and garage accommodations for 20 vehicles.<\/p>\n<p>Listing broker: Richard Leavitt, Engel and Volkers<\/p>\n<p><strong><span style=\"text-decoration: underline;\">2. The Razor, La Jolla, Calif. <\/span><\/strong><\/p>\n<p><strong><\/strong><a href=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/21.jpg\"><img decoding=\"async\" class=\"alignnone size-full wp-image-980\" title=\"2\" src=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/21.jpg\" alt=\"\" width=\"639\" height=\"329\" srcset=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/21.jpg 639w, https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/21-300x154.jpg 300w\" sizes=\"(max-width: 639px) 100vw, 639px\" \/><\/a><br \/>\nList price: $19.4 million<br \/>\nBedrooms: 4<br \/>\nBathrooms: 8<br \/>\nSquare footage: 11,000<br \/>\nLot size: 0.77 acres<br \/>\nBuilt in: 2007<\/p>\n<p>Features: Contemporary-style luxury property with views of Pacific Ocean. Heated pool, dog run, two-space carport.<\/p>\n<p>Note: The Razor will be put up for auction on September 28 with a starting bid of $16 million. Interested buyers are advised to purchased the home early to avoid entering bidding war.<br \/>\nListing broker: Bob Hurwitz, Hurwitz James Co.<\/p>\n<p><strong><span style=\"text-decoration: underline;\">3. East Mockingbird Lane, Paradise Valley, Ariz. <a href=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/31.jpg\"><img decoding=\"async\" class=\"alignnone size-full wp-image-981\" title=\"3\" src=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/31.jpg\" alt=\"\" width=\"639\" height=\"329\" srcset=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/31.jpg 639w, https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/31-300x154.jpg 300w\" sizes=\"(max-width: 639px) 100vw, 639px\" \/><\/a><\/span><\/strong><br \/>\nList price: $18 million<br \/>\nBedrooms: 7<br \/>\nBathrooms: 10<br \/>\nSquare footage: 17,015<br \/>\nLot size: 4.9 acres<br \/>\nBuilt in: 2009<\/p>\n<p>Features: Two libraries, a wine cellar, a piano room, \u201cpanic\u201d room, Dolby sound system equipped in home theater which is designed in mahogany, on=site solar power stations to provide power for the home, $1.2 million security system and a 21-car, climate-controlled garage.<br \/>\nListing broker: Joan Levinson, John Hall &amp; Associates<\/p>\n<p><strong><span style=\"text-decoration: underline;\">4. The Wyndham Estate, Newport, R.I. <a href=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/41.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-978\" title=\"4\" src=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/41.jpg\" alt=\"\" width=\"639\" height=\"329\" srcset=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/41.jpg 639w, https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/41-300x154.jpg 300w\" sizes=\"(max-width: 639px) 100vw, 639px\" \/><\/a><\/span><\/strong><br \/>\nList price: $7.9 million<br \/>\nBedrooms: 7<br \/>\nBathrooms: 8<br \/>\nSquare footage: 12,500<br \/>\nLot size: 7.7 acres<br \/>\nBuilt in: 1891<\/p>\n<p>Features: 19th-century home with modern amenities, a ballroom, music room, four fireplaces, rooftop deck with whirlpool overlooking ocean, artificial pond and waterfall in gardens and garage space for nine cars.<\/p>\n<p>Listing broker: Paul Leys, Gustave White Sotheby\u2019s International Realty<\/p>\n<p><strong><span style=\"text-decoration: underline;\">5. Biltmore Estates Drive, Phoenix <a href=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/51.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-982\" title=\"5\" src=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/51.jpg\" alt=\"\" width=\"639\" height=\"329\" srcset=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/51.jpg 639w, https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2012\/05\/51-300x154.jpg 300w\" sizes=\"(max-width: 639px) 100vw, 639px\" \/><\/a><\/span><\/strong><br \/>\nList price: $7 million<br \/>\nBedrooms: 9<br \/>\nBathrooms: 11<br \/>\nSquare footage: 17,799<br \/>\nLot size: 1.04 acres<br \/>\nBuilt in: 2002<\/p>\n<p>Features: A library, home theater, wine cavern, balconies and alfresco patios, outdoor terraces for dining or dancing and located right next to the Arizona Biltmore Golf Course.<br \/>\nListing broker: Sandra Baldwin, Russ Lyon Sotheby\u2019s International<\/p>\n<p>Source and Photos: <a href=\"http:\/\/elitechoice.org\/2011\/08\/17\/luxury-deals-5-ultra-expensive-foreclosed-homes-for-sale\/\">Elite Choice<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Haute Estates Five Luxury Foreclosed Home <\/p>\n","protected":false},"author":34,"featured_media":981,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1749,1],"tags":[],"class_list":["post-977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hlrn","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Five Luxury Foreclosed Home for Sale : Haute Estates<\/title>\n<meta name=\"description\" content=\"5 Foreclosed Luxury Home 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latest cutting-edge real estate news, interior design trends, beauty industry secrets, wellness tips and more. She also contributes to sister publications Haute Living, Haute Time and Tot Living. 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