"I think high-end homeowners have a little more 'padding' to get through tough times if they experience a job loss or other trouble. But as the tough times continue, more and more of these homeowners are succumbing to foreclosure" said Daren Blomquist of RealtyTrac.com.

So what does that mean? Well-positioned house shoppers may be able to purchase million-dollar luxury foreclosures at a significant discount.

According to RealtyTrac’s data, foreclosed homes sold nearly 27% less than non-distressed properties did in the 1st quarter of 2011.

Blomquist concluded, “… we definitely see a built-in discount with foreclosures. There are really big opportunities to get good deals."