From AOL Real Estate
Maybe the rich aren’t so different from us after all. RealtyTrac reports that the number of million-dollar-and-up homes in foreclosure has doubled since 2007 and now represents about 2.3 percent of all homes circling the drain.
While it may provide little comfort to know that someone else’s fall from the wealth ladder was even steeper than your own, the truth is that this has been an equal opportunity housing market crash. The first wave of foreclosures may have been from those who bought into tract development projects on loans arranged by builders, but the second wave quickly washed ashore those who moved up into luxury custom homes via adjustable rate loans.
And at the end of the day, everyone is standing on the same beach and answering the same calls from the collection guys.
Here are some of the highest-end homes in foreclosure. (For the entire article click here.)
6025 Blackwater Trail Nw Atlanta, GA 30328
22,000 Square Feet — ‘Nuff Said?
Location: Atlanta, Ga.
Price: $3.75 million
Beds/Baths: 7/9
Sq Ft: 22,000
It’s the sort of home you can actually get lost in. For avid cooks — servants or otherwise — there’s a lot to work with: The mansion has four kitchens. In addition to myriad other amenities, the monster residence offers a home theater, pool, spa, sauna, steam room and elevator.
Suzanne Close
(770)335-1880
(770)442-7300
suzanneclose@atlantafinehomes.com