Million-Dollar Foreclosures, Just Bring Your Checkbook

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Maybe the rich aren't so different from us after all. RealtyTrac reports that the number of million-dollar-and-up homes in foreclosure has doubled since 2007 and now represents about 2.3 percent of all homes circling the drain.

While it may provide little comfort to know that someone else's fall from the wealth ladder was even steeper than your own, the truth is that this has been an equal opportunity housing market crash. The first wave of foreclosures may have been from those who bought into tract development projects on loans arranged by builders, but the second wave quickly washed ashore those who moved up into luxury custom homes via adjustable rate loans.

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Buyer's Market: Million-Dollar Foreclosures
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Million-Dollar Foreclosures, Just Bring Your Checkbook

Location: Cherry Hills Village, Colo.
Price: $8.95 million
Beds/Baths: 8/9
Sq. Ft.: 21,320

Situated in affluent Cherry Hills Village, this home is absolutely enormous, spanning more than 20,000 square feet on its 2.5-acre plot. The home boasts mountain views, five fireplaces, a giant family room and a garage that holds a whopping nine cars. The neighborhood homeowner's association offers a clubhouse, pool, tennis courts and trash removal. 

Now see what you find inside of all 21,320 square feet

Location: Orono, Minn. 
Price: $6.95 million
Beds/Baths: 4/6
Sq. Ft.: 9,683

This shingle-style mansion commands 359 feet of beachy lakefront and three total acres of prime Orono real estate. The residence, which features tile floors and vaulted ceilings, also offers a carriage house for any guests you'd like to keep at arm's length on their lake house sojourn. 

See some stunning photos of the listing. 

Location: Scottsdale, Ariz. 
Price: $4.85 million
Beds/Baths: 5/8
Sq. Ft.: 10,423

Behind its stately stone and stucco exterior, this home offers equally elegant interior character with decorative features, like exposed-beam ceilings, reclaimed wood floors and Victorian-style chandeliers. The home sits on a ridge in the Upper Canyon of Silverleaf that has uninterrupted panoramas of the city. 

See the listing for details. 

Location: San Diego, Calif. 
Price: $1.729 million
Beds/Baths: 5/5
Sq. Ft.: 5,922

With ocean and golf-course views, this home boasts 5,992 square feet of total space and a swimming pool. 

Well, actually, that's not even the half of it. See what else you get by viewing the listing

Location: Los Angeles, Calif. 
Price: $999,999
Beds/Baths: 2 Units
Sq Ft: 3,916

$1 million gets you two units in the Beverly Center-Miracle Mile neighborhood of L.A. Originally built in French style, the units go pretty far back, all the way to 1936, in fact. 

See what the bank really has on its hands

Location: Portola Valley, Calif. 
Price: $6.9 million
Beds/Baths: 4/6
Sq. Ft.: 7,500

This stately Georgian's 8.5 acres pack amenities that include an equestrian facility and tennis courts.

See the listing for jaw-dropping photos and more details. 

Location: Malibu, Calif. 
Price: $2.699 million
Beds/Baths: 4/3
Sq. Ft.: 3,153

Offering hill and ocean views from its private balcony, this snappy Malibu property costs $856 per square foot and delivers residents a gated acre that includes a wet bar, pool and spa.

See the listing for details. 

Location: Castle Rock, Colo. 
Price: $2.55 million
Beds/Baths: 6/8
Sq. Ft.: 8,607

This home fits its town's name: With its turret and a stone exterior the mansion resembles a castle. Officially labeled a "mountain contemporary," the home is located on a cul-de-sac and comes with a four-car garage. 

But that's not all it comes with. Get the full details by viewing the listing

Location: Elizabeth, Colo. 
Price: $1.95 million
Beds/Baths: 4/3
Sq. Ft.: 3,277

This estate brings you a whopping 838 acres of Colorado countryside. Topped with Spanish tile, the residence contains four bedrooms and comes with a barn. 

See the listing for details. 

Location: Newport, R.I.
Price: $7.9 million
Beds/Baths: 7/8
Sq Ft: 12,500

The "Wyndham Estate" sits on Newport's posh Ocean Drive. Having undergone extensive renovations, the massive stone baronial mansion offers a ballroom, music room, elaborate landscaping and a rooftop deck with panoramic views of the ocean. 

See the listing for more details. 

Location: Phoenix, Ariz. 
Price: $6.95 million
Beds/Baths: 9/11
Sq. Ft.: 17,799 

It's hard to argue with the listing description when it describes this behemoth as "extraordinarily opulent." Adjacent to the world-class Arizona Biltmore Golf Course, the estate has a sweeping paved motor court that leads up to a massive amalgamation of stone, wood and iron -- 17,799 square feet of it. 

See the listing for more details. 

Location: Atlanta, Ga.
Price: $3.75 million
Beds/Baths: 7/9
Sq Ft: 22,000 

It's the sort of home you can actually get lost in. For avid cooks -- servants or otherwise -- there's a lot to work with: The mansion has four kitchens. In addition to myriad other amenities, the monster residence offers a home theater, pool, spa, sauna, steam room and elevator. 

Find out what else comes with the package

Location: Del Mar, Calif. 
Price: $4.495 million 
Beds/Baths: 3/3
Sq. Ft.: 3,142

Said to offer the most square footage of all homes in the ritzy Beach Colony of Del Mar, this stunner is steps from the beach. Special features include a great room, multiple patios and a secluded outdoor area with a spa, sand room and game room. 

See the listing for details. 

Location: Coral Gables, Fla. 
Price: $3.999
Beds/Baths: 3/3
Sq. Ft.: 5,710

This storied estate built in 1930 may need "major renovating," according to the listing, but its lush landscaping is sure to impress: Three whole acres of garden stretch across the premises, offering paths, grottoes, waterfalls, caves, and ponds draped with tropical trees and other foliage. 

Get a look into this stunning garden

Location: Las Vegas, Nev. 
Price: $2.45 million
Beds/Baths: 7/8
Sq. Ft.: 13,198

One of many, many other foreclosed homes in Las Vegas, Ground Zero of the housing crisis, this home shows just how far the dollar really goes when it comes to Sin City dirt. For $2.45 million, you get seven bedrooms, eight bathrooms, 13,198 square feet, a lighted tennis court, a come-hither pool and much more. 

See some jackpot photos of the property.

Location: San Diego, Calif.
Price:  $1,150,000
Beds/Baths: 4/5
Sq. Ft.: 3,953

Live it up in this Spanish-style mansion built in 2002 -- you know, back when Kelly Clarkson and home prices were on the rise. The years have not been kind, however, and another millionaire’s misfortune could be your ticket to the good life.

See the listing for more. 

Location: Austin, Texas
Price: $2,350,000
Beds/Baths: 5/7
Sq. Ft.: 7,173

Whoo, doggie! Everything’s bigger in Texas, including this over-the-top, Mediterranean-style villa. Unfortunately for the previous owner, this dream castle was built in 2009, right in the middle of the housing market’s freefall. The massive manor includes three bars, a game room, a lounge, a “poolside kitchen and fountain,” multiple fireplaces and two elevators. So much for fiscal austerity.

Gaze at this Texas beauty.

Location: Denver, Colo.
Price: $1,373,300
Beds/Baths: 4/5
Sq. Ft.: 4,206

The fact that a home of this caliber can end up in the bank’s pocket shows just how pervasive the housing crisis has been. Built in 2004, this glass and concrete beauty is one sprawling, intricate showroom. With panoramic views of the hilly Denver landscape, this modern four-bedroom is perfect for star gazing – just so long as you’re comfortable with the neighbors staring back.

See what they'll stare at

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And at the end of the day, everyone is standing on the same beach and answering the same calls from the collection guys.

Here are some of the highest-end homes in foreclosure.
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