Foreclosures mounting for luxury homes
As I have stated here several times, the high end of the market is starting to crumble. The combination of very few jumbo loans, job loss and economic uncertainty is finally starting to take it’s toll on the luxury market and anything else with financing over $417,000.
Of course, a seller’s loss is a buyer’s gain, so the next year or two should be a very good time for high end home buyers. If you know any buyers in this range, give me a call. I can help them navigate through the mess!