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This shingle-style mansion with 350 feet of frontage on Lake Minnetonka was originally listed in 2009 for $11.5 million, but the price was reduced to $9.9 million and then again to $8.9 million. Now the home is owned by the bank and listed for $6.25 million.
Designed by an architect from Sag Harbor in 1999, the house is very much in keeping with the high-end homes in the Hamptons, said the listing broker Ellen DeHaven. "It looks like a home you could airlift onto Long Island, but [Lake Minnetonka is] our version of the waterfront."
The home includes 4 bedrooms, 6 bathrooms, a game room and a carriage house. Despite being bank-owned for 6 months, it has been exceptionally well maintained, DeHaven noted, with a refurbished roof and refinished floors.
For more information: DeHaven Team
These foreclosed homes may be in some of America's hardest hit neighborhoods, but the deals may be too good to pass up.
