Luxury Foreclosures

One of the fastest growing markets over the last year or so in the Cleveland OH area is the luxury foreclosures.  Luxury homes throughout the Cleveland OH area that were once valued at the high end of people’s buying power, are now available through the Cleveland mls for far less- in some cases…30%-50% less!

Due to the rise and fall of these luxury foreclosures, it has opened up the opportunity for not only investors…but 1st time home buyers alike!  Once thought to be too pricey and out of a buyer’s price range, these Cleveland area foreclosures allow all buyers to afford luxurious amenities without paying an inflated price.  Some of the more popular areas to search for these listings are Strongsville, Westlake, Bay Village and Rocky River.  These communities have held their value relatively well throughout the downturn in the real estate market and therefore, provide some pretty significant upside in buying luxury foreclosures.

Many buyers are still happy with the low interest rates and 1st time home buyers are taking advantage of the $8000 tax credit.  Combine these two factors with the possibility of buying a luxury foreclosure for $10,000, $20,000, or even $30,000 under market value…and you have yourself a very smart investment!  Many buyers are gaining significant equity in their homes before they even get the keys!  These types of real estate transactions allow buyer’s to save thousands of dollars.

If you would like to search the Cleveland area real estate market for luxury foreclosures, contact your Cleveland Area Real Estate team or search now for these great deals using our Foreclosure Finder!