Foreclosures aren't always boarded-up windows, stained carpets, and concrete-filled toilets. These bank-owned properties are high-end luxury homes that have sold in the Greater Seattle metro this year for over $1 million. Not too shabby for "distressed" properties.
Kirkland - Holmes Point$1,500,000This lakeview home has 6000 sq ft of living space, was built in 2007. It has a boat slip, a theatre, and an elevator. I wonder if any bank executives spent a weekend here "researching" the property.
Seattle - Magnolia$1,350,000This 6 bedroom, 4.5 bath house took just one week on the market to sell. The new owners got a 4700 sq ft new construction home with views of Elliott Bay, the Space Needle, and downtown Seattle. Apparently the outlook from the foreclosure crunch isn't bad for everyone involved.
Bellevue - Downtown$1,300,000This 2008-built house is true Northwest-style construction. It's 4200 sq ft, 5 bed, 3.75 bath, on an 8500 sq ft lot. With this downtown Bellevue location, that's some valuable dirt and a very short commute to some of the best jobs in the region.
Kirkland - West of Market$1,250,000This house has sweeping views of Lake Washington, Kirkland, and even downtown Seattle's skyscrapers. It was on the market for almost a year. 5 beds, 4.5 baths, and a detached 1/1 water view apartment make up 4800 square feet of living space.
Kirkland - JuanitaAdding to Kirkland's total on the luxury foreclosure infamy list is this lakeview, 2005-built beauty. It's 5 beds, 4 baths, and 4600 sq ft. The views are spectacular, and the home has community waterfront access. The styling is very modern, and the use of the view is maximized throughout the home.
Mercer Island - Madrona Crest$1,100,000Mercer Island joins the party with this "modest for this list" home, at just 3500 sq ft. It has 4 beds, 2.5 baths, and was built in 2008. With 10,000 sq ft of land, this is a big Mercer Island lot and a great location.
Yarrow Point$1,000,000This is the oldest of our million-dollar foreclosures, an early 1960s home. The majority of homes on Yarrow Point and Hunts Point are older/remodeled homes, and rately go for less than 6 figures if they have waterfront/water views. This one was snapped up after just 9 days on the market.
Foreclosures are a bad situation for some, but for buyers with the ability to make a sale happen right now, there are some real discounts to be had on luxury and waterfront homes.
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