Short sales are a popular option for homebuyers right now because they're cheap. Well, cheaper than regular non-distressed properties. We recently brought you the 10 best cities to buy short sales, where they sold at an average of 23 percent below market rate. There were three times as many short sales as sales of foreclosed homes in 2012, according to online foreclosure marketplace RealtyTrac. But there are some that the average homeowner might not consider a bargain.
The rich aren't immune from falling behind on their mortgages, and there are plenty of short sales out there that will still cost you a few million bucks. Just imagine how much they'd be if they weren't short sales! We've rounded up a few multimillion-dollar short sales currently on the market around the country. Click through the gallery below to see them.
Price: $6.95 million
Sq. ft.: 8,116
Even though filthy-rich celebs like Celine Dion and Tiger Woods live in Jupiter, some of their neighbors aren't immune from sinking underwater on their mortgages.
This lavish five-bedroom, seven-bath short sale gets pristine beachfront ocean views, and inside you'll find expansive rooms. A dining area is set off by columns, and walls of windows line the living areas.
Outside, a gorgeous deck and lanai wrap around a large pool and spa. It's an oasis -- though not quite as much as Dion's water park in her backyard.
See the listing for more details.
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