Check out this recent article on Million Dollar Foreclosure. Banks seized 335% more Million Dollar plus homes last year then compared to 2007. In 2010 there were 11 homes that were Short Sales and Foreclosed homes over a Million Dollars in Massachusetts. These High End Foreclosures had an average sale price of $1,664,091 while spending 259 days on the market. As of August of 2011, there have been 11 homes Million Dollar Plus Short Sales & Foreclosures sold in Massachusetts. The average sale price of these Massachusetts Luxury Foreclosures and Short Sales were $1,456,182 while spending 311 days on the market.
There is evidence showing that the higher end segment is starting to break. For the luxury home owner, they generally have more reserves that can help them get through some tough times, but no one is immune to market prolonged downturns. It seems that these tougher times have been going on for just a little to long.
Here are all the Million Dollar Plus Short Sales & Foreclosures that are currently for sale in Massachusetts. Email Jeffrey Chubb to view the most up to date listing inventory.
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Give Jeffrey Chubb of RE/MAX SELECT a call at 617-480-2600 or click here to send an email should you be thinking about buying a Massachusetts foreclosure. There are many opportunities for the buyer looking for the great deal in Massachusetts on distressed properties. Distressed properties consist of both Massachusetts Short Sales as well as Massachusetts Foreclosures.