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So the resultant post was born on the Ann Arbor blog - below.
Ann Arbor Million Dollar Home Owners Walk Away in Barton Hills
Ann Arbor Short sales are the first line of defense to avoid a foreclosure for the lenders and for home owners.
Barton Hills, an exclusive area of Ann Arbor homes, just had an approved short sale. 140 UNDERDOWN ANN ARBOR, MI 48105 just closed with Keller Williams Ann Arbor Market Center. This home was listed at $1,150,000 and closed for $850,000 on 01/21/11. To tour inside the Barton Hills home click here. This English Tudor was on the Barton Pond, 4454 square feet and 5 bedrooms 3.2 baths. Barton Hills boasts a Donald Ross golf course with video and Baron Hills club house with video established in 1919.
It should be no surprise to anyone that the largest group of strategic defaulters is in the higher end home owners. The biggest market segment of strategic defaulters will be in the luxury home price segment. Watch this CBS Video to get an idea of what to expect in wealthy communities.
The stigma that was associated with defaulting on a home is gone. For the wealthy, it is more likely seen as a bad investment and cutting losses is just a business decision. Right or wrong, millions of underwater owners are thinking about their homes as investments. Following that logic, when an investment declines in value it is a business decision to stop throwing money into a negative investment.
Are you behind in your mortgage payments and financially squeezed? Are you facing a hardship? Are you eligible for a short sale in Ann Arbor? Know what your Washtenaw County Home is Worth?
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