Des Moines Most Expensive House In Foreclosure, Estate of the Day

by Deidre Woollard (RSS feed)
Feb 20th 2009 at 1:02PM

The lavish home of West Des Moines developer Dave Walters price isn't just the most expensive resale home in the Des Moines area to ever hit the market at $3.9 million, it's also in foreclosure. The Walters family moved out last year and two banks have mortgages against the home totaling around $4.2 million. Waters was one of the top home builders in the area but became involved in projects that were never completed.

If a buyer is not found in a few months the home will go up for a sheriff's sale. The 14,000-square-foot home was finished less than two years ago. The ten-acre property includes a swimming pool, a 1,500-square-foot guest house, three garages, a quarter-mile walking path and its own football field complete with goal posts. The Des Moines Register says it is estimated that Walters spent about $5.2 million building the home after buying the 10 acres for $850,000 in 2005. It has a massive great room, media room, a huge 1,100-square-foot master bedroom and even a secret room hidden by a bookshelf. It is larger and more lavish than most homes in the area but at $3.9 million it may struggle to find a buyer before the deadline.

Experience more lush living in luxury homes and mansions or see the stars living large with celebrity homes galleries at AOL Real Estate.

Gallery: A Major Foreclosure in Des Moines