LUXURY FORECLOSURES IN DENVER
If you are looking for luxury Denver real estate, why not consider one of the many Denver luxury foreclosures? Purchasing foreclosures enables home buyers to move into higher-priced properties and neighborhoods that they might not otherwise be able to afford.
While people hold different perceptions of what they consider to be a bargain, there are certainly luxury homes for sale in Denver that are incredible deals but finding them is not always easy. That’s why working with a real estate agent that specialises in luxury home foreclosures is especially important.
Enjoy Considerable Discounts on Denver Luxury Real Estate
Many of the luxury foreclosed homes available on the market are brand new or have barely been lived in before, while others may require minor work and updating. Denver luxury homes are usually listed for over $1 million after any foreclosure discounts. The prices of luxury foreclosures in Denver range from $1.1 million to $2.6 million.
It is rare to find steep discounts on these luxury lender owned homes as the banks usually have them priced competitively right from the beginning and the speed at which they are normally purchased proves this. Foreclosed Denver luxury houses often do not remain on the market for long with some even selling in as little as ten days.
Why Should I Purchase A Denver Luxury Foreclosure?
Most foreclosed homes sell on average for 30 percent less than a regular property. This presents many opportunities for both buyers and investors. In foreclosure sales, buyers are able to negotiate closing costs and price. This enables investors to purchase a home at a rock-bottom price within a short time frame. There are a number of advantages to be enjoyed by purchasing a foreclosed luxury property including:
- Lower Price Tag: As the price of a sale to the bank only needs to be what is owed to the defaulted loan, this can often be a fraction of what the house is actually appraised at.
- Prompt Re-Location: As the previous home owners are long gone before the house is sold, you will be able to move in not long after your purchase.
- Healthy Profit: If you decide to sell the home in the future, you may enjoy a healthy profit over what you paid. This is a great opportunity to make a quick turn-around after making repairs.
- Smaller Down Payments: Foreclosures are great opportunities for first-time home buyers as the lower down payments can work to the benefit of the buyer when purchasing luxury gold homes.
- Upgraded Lifestyle: A luxury bank foreclosure often gives home buyers an opportunity to move into higher priced or more affluent neighborhoods that otherwise may be priced out of reach.
- Build Assets: Purchasing an inexpensive foreclosure at below market value can help to build equity and assets especially as the home increases in value over time.
Work With a Luxury Professional
By working with a Denver luxury foreclosure specialist and doing some research, buyers will be able to find a number of bargains that can serve as excellent investment opportunities. Whether you plan a quick renovation and sale or choose to rent your property, there is always an opportunity for a healthy profit from a luxury foreclosure.
Denver Luxury Foreclosures
Although many luxury bank owned homes in affluent neighborhoods and gated communities only sell for small discounts, it is still possible to find a luxury home for a substantial discount. The key is to understand the various neighborhoods around town and how to play with them. As a trusted expert in luxury foreclosures in Denver, Kenna Real Estate can help you find just the deal that you are looking for. Nothing in real estate is ever certain but if you know exactly what you are looking for, we can help you find it.