Twin Cities Distress Luxury Homes – A Huge Buying Opportunity!
The Star Tribune picked up my story about clients of mine who purchased this $1.7 million home for $725,000.
While the luxury distress market represents only about 5% of the overall inventory over $1,000,000, there are still some unbelievable opportunities for those with the financial wherewithall to make that kind of purchase.
For properties in the $500,000 to $1,000,000 range, you’ll find that between 8-10% of the inventory is distressed. And to be clear as to what I mean with distressed…it’s generally that the financials, i.e. the mortgage, is in distress. Usually these properties are in pretty good condition.
If you’d like to subscribe to my property search service, please check out www.TCDistressLuxuryHomes.com.
