The Hotest Markets For Luxury Short Sales

Luxury Short Sales

Searching for a sophisticated short sale sure to be the envy of friends and family? Try out these hot spots for luxury short sales to find bargain basement prices on some of the most select properties in the nation.

Make a Move to Malibu – Condo’s for a quarter million and entry level homes for less than a half million might not sound inexpensive to most Americans but anyone familiar with Malibu is sure to be pleasantly surprised. According to the data, 2009 was the worst year for real estate in Malibu history. Case in point, Zuma beach townhouses formerly selling in the $1 million range have dropped to only $450,000…with only one sale. Three bedroom homes selling in the $2 million plus range have dropped by half making it a buyer’s market in Malibu.

Rocky Mountain High – Noting one of the largest price drops in 2009, Aspen Colorado has a long history of quiet luxury for the environmentally minded. Boasting a 45% price decline, if you have been aching for Aspen, now is the time to strike.

Feel the Heat – If a vintage villa in Coral Gables is more your style then you are in luck. Nestled near the border of Miami/Dade county, Coral Gables presents warm weather with historic charm. Tight zoning regulations forbid most new construction in the area so Coral Gables did not experience a dramatic building boom like most of Florida.

Curious about other expensive areas of the nation? Check out these luxury zip codes when searching for your next short sale – it might be the perfect opportunity to move in next door to the rich and famous without breaking the bank:

1. 07620 Alpine, N.J. $4,139,041
2. 94027 Atherton, Calif. $3,849,133
3. 10014 New York, N.Y. $3,521,514
4. 91008 Duarte, Calif. $3,444,773
5. 90210 Beverly Hills, Calif. $3,367,167
6. 92067 Rancho Santa Fe, Calif.$3,362,493
7. 93108 Santa Barbara, Calif. $3,284,652
8. 94024 Los Altos Hills, Calif. $3,277,500
9. 10065 New York, N.Y. $3,176,534
10. 07926 Brookside, N.J. $3,121,115