McMansions in Foreclosure
Why is the demand for larger homes growing if it
Large houses have increased in popularity over the last few years. This is somewhat unusual given that the average family has not increased. In fact, according to statistics from the National Association of Home Builders, the average American household has declined from 3.1 people in 1970 to 2.5 in 2006, while the average home grew from 1,500 to more than 2,400 square feet.
Why is the demand for larger homes growing if it is not a result of a growing family? Many in the industry offer several possible reasons such as the homeowners desire for more privacy, land, living space, storage space for all theyve accumulated, or maybe they simply want to make a statement regarding how successful they are. Whatever the reason, the super-sized family home appears here to stay.
Typically, a large price tag has accompanied that demand for more living space. There is however a way you can buy that larger home without having to pay that premium price tag. REO foreclosures offer several bargain mega-size home listings. Here are just a few examples currently up for auction:
W Scenic Drive, Maricopa, Ariz.: List Price $322,900
Estimated value based on recent sales activity within this ZIP code: $458,907
At 3,929 square feet, this two-story, five-bedroom, 2.5 bathroom home offers plenty of living space.
Located just 20 miles from Phoenix and Casa Grande, Maricopa is a city experiencing hyper-growth. By the year 2010, the population is expected to exceed 100,000.
Blausanne Lane, Manteca, Calif.: List Price $469,900
Estimated value based on recent sales activity within this ZIP code: $664,955
This single-family home provides 3,033 square feet of spacious living area.
It includes five bedrooms and four bathrooms.
Centrally located at the crossroads of major highways in Northern California, this community of approximately 60,000 is just one hour from the San Francisco Bay area and Sacramento and two hours from Fresno.
SW 26th Street, Miramar, Fla.: List Price $566,900
Estimated value based on recent sales activity within this ZIP code: $875,206
This newer five bedroom, four bathroom two-story home provides 4,418 square feet of living space.
This city of more than 100,000 residents is located in Broward County, Fla. and serves as the home base for Spirit Airlines.
N Fm 491, La Villa, Texas: List Price $442,900
Estimated value based on recent sales activity within this ZIP code: $499,000.
This amazing single family residence has over 5,063 square feet of ready-to-move-in living area.
It includes six bedrooms and six bathrooms.
This quaint town of approximately 1,200 is 20 miles northeast of McAllen in eastern Hidalgo County.
Earls Road, Goochland, Va.: List Price $369,900
Estimated value based on recent sales activity within this ZIP code: $474,900.
This two-story, five-bedroom, three-bathroom home offers 3,208 square feet of living space.
This scenic community is located between Richmond and Charlottesville in the fast developing mid-Atlantic corridor in central Virginia.