Last week, we reported that foreclosures of luxury homes has skyrocketed since October 1012. An article in the Herald Tribune confirms the dramatic increase in luxury home foreclosures:

price drop"Banks have stamped more new default notices on area mansions this year than any other time since the peak of the Great Recession. That is consistent with a sharp rise in luxury foreclosure filings across Florida and the nation, a new report shows."

The increase in luxury home foreclosures could add some new listings to a luxury real estate market in South Florida which is low on inventory.

However, many of these luxury homes are aging or in need of repair which means believe buyers may be more interested in the land for a possible tear-down and rebuild. It also could open the door to high-end property flipping.

Either way, the demand for $1 million listings at relative bargains appears to be strong.

Are you in the market for a luxury home in South Florida? As a luxury home specialist, I can help! Contact me today and let's get started finding you an undervalued luxury home!

We have a Free List of South Florida Luxury Foreclosures. Click here to get yours!

Cinthia Ane has distinguished herself as a leader in the South Florida luxury real estate market. Cinthia assists buyers looking for South Florida real estate for sale and aggressively markets South Florida homes for sale. Cinthia Ane markets luxury single-family estate homes, luxury condominiums and luxury waterfront and equestrian property home sites in Miami/Dade County, Broward County and Palm Beach County.

You can reach Cinthia Ane by filling out her online contact form or giving her a call, 954-218-3231.