Jim Buchta of the Star Tribune published this story about buyers taking advantage of the incredible market opportunity for some homes in the upper bracket. He interviewed clients of mine who purchased a $1.7 million home near Gray’s Bay for $725,000.  To see additional details about that situation beyond what Jim Buchta reports, please read my blog entry from several weeks ago.
The upper bracket has many opportunities, but they are not quite as prevalent as we see in other areas of the market. Right now, over $800,000, there are about 5% of the properties in distress – i.e. bank foreclosure, short sale, corporate owned, as-is, etc.
For anyone seeking to potentially purchase a luxury distress sale, I can set up a customized search for you. Â Feel free to sign up at:
