Million-dollar foreclosures

Even million-dollar mansions can become big bargains. That's especially true when banks repossess them from delinquent borrowers and put them back on the market.

Lakewood, Colo.

1 2 2
  • Price: $1.94 million
  • Size: 12,044 square feet
  • Rooms: 6 bedrooms, 6.5 baths

This home is located just nine miles from downtown Denver but with its woody, lakefront lot, you'd scarcely know it. It has private beach access, a swimming pool, a tennis court and several decks to take in the mountain views.

Inside, are six bedroom suites, a two-story music room, a billiard room, a large family room with a wet bar, a library and office. The kitchen comes with high-end appliances. The master suite is on the main level and boasts a fireplace and expansive bath. There are also five fireplaces.

The house was worth about $2.9 million at the top of the market, according to Zillow. The last time it sold, back in early 2001, it went for $2.5 million. Its current listing price -- at just under $2 million -- is a relative bargain compared to those amounts.

For further information: Trulia

  @CNNMoney - Last updated January 30 2013 06:38 AM ET

Find Homes For Sale

Real Estate Calculator

Was my home a good investment?

Find out now