Home Sales Rise As Buyers Grab Foreclosures

The National Association of Realtors says home sales rose 7.7 percent last month to a seasonally adjusted annual rate of 5.03 million homes. That's below the 6 million that economists say is consistent with a healthy housing market.
Last month's pace was slightly ahead of the 4.91 million sold in 2010, the weakest sales year in 13 years.
Homes at risk of foreclosure made up 31 percent of sales, up from 29 percent in July.
The segment of first-time homebuyers was unchanged at 32 percent of all sales. They normally make up about 50 percent of sales in healthy markets.
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: 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: 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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Also see:
Why No New Homes Sales May Be a Good Thing
Banks to Offer Toll-Free Hotline for "Robo-Signing" Victims
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