Located in "the Gold Coast of Orange County," this impressive home with views of Catalina Island and the Pacific Ocean fell into foreclosure in 2010, the same year it was built. At one time, it was in escrow for $28 million. Now, the home is available through a private investment group for $18 million. It has never been occupied.
The house has an oversized master suite and 3 additional bedrooms, 6 1/2 bathrooms and a garage that can accommodate 20 cars. The kitchen is outfitted with high-end stainless steel appliances, granite counter tops and a butler's pantry. There's also a screening room and an atrium foyer. Elsewhere on the 11-acre property, are an infinity edge pool, spa, gardens and a fire pit.
"A home of this size on a parcel of land over 11 acres in this area is unheard of," noted the listing broker Richard Leavitt. "It could never be built again."
These foreclosed homes may be in some of America's hardest hit neighborhoods, but the deals may be too good to pass up.
|Oil prices crash below $27 a barrel|
|Martin Shkreli offers Kanye West $10 million to be sole owner of new album|
|Why people are freaking out about cheap oil|
|Janet Yellen: Negative rates possible in U.S.|
|Stocks dive to lowest level in nearly 2 years as oil crashes|