It's obvious that short sales are taking over as good deals and become more attractive for buyers who are looking for specific properties, not just a good deal. Great deal Naples foreclosures simply dried up and further lucrative options that appear on the market have a number of competing offers the same day they are placed on MLS.
If you look at Naples foreclosures it's hard to find anything built in 2000-2010. Most of the properties were built in the 80s and 90s. That is already a turning point for many buyers.
Beachfront foreclosures are almost non-existent. Short sales are the only option if you want to be walking distance from the Gulf. Some of the new developments, villas to be precise, are available for sale starting from low $500K.
I have looked at foreclosed homes in luxury and golf course gated communities and there is one thing that unites them in not being sold yet - interior design customized too much or immediate proximity to very busy streets and I-75 with a good measure of noise even if the windows are closed. Most don't have pools.
One positive thing though for Naples home buyers, the banks took into account off season and dropped prices on many foreclosures at least 5%, so this summer is still an opportunity to buy a great deal in Naples. After a season of 2010-2011, home prices in Naples will rise to the level of 2004, immediate pre-boom of 2005-2006.
I have a link to all Naples foreclosures on my website appearing and updating exactly as they are on MLS HERE.
Short sales single family homes built 2000-2010 HERE and Naples condos/townhouses built 2000-2010 HERE.
You can check these links every day for new updates at any time.
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