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HOME ADVANCED SEARCH SHORT SALE ASSET MANAGEMENT

Buying Foreclosure and Short Sale Properties in Naples Florida

Naples Foreclosures

The hottest segment of the Naples Real Estate Market is the $200000 range single-family foreclosure homes. When a foreclosure home hits the market, it is usually listed about 10-15% below all other comparable in the area.
 
Foreclosure homes in Naples are not always in the best of conditions and sometimes with code violations. In many cases, Naples foreclosure homes cannot be purchased with a mortgage due to the repairs needed. This is when cash buyers have a little bit more leverage with the banks when making offers.

 

However, regardless of the condition of the home, most properties end up selling at or above the asking price.
In many areas we are seeing small investors coming back into the Naples real estate market, buying up fixer-uppers, investing $10-15000 in repairs and upgrades and reselling them for a quick profit.

Foreclosure and REO homes in Naples Florida sell in an average of 45 days from the time they hit the Naples Real Estate Market. Banks usually have a window of 30-60 days to unload their inventory. Learn more about buying Naples Foreclosure Properties here.

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Approved Short Sales

Another trend in the Naples Real Estate Market is investing in approved short sale homes. Please read more about short sales.

An advertised approved short sale is a short sale that has already gone through the negotiation process with the bank and there is a short window of time, usually 30 days for it to be closed. The asking price for an approved short sale is usually below any comparables due to the fact that the BPO might have been done well prior to the approval and the market has since picked up.

Most buyers of approved short sales are cash buyers. An offer below the approved short sale price will not be accepted within the 30 days window of time. This would trigger the opening of another negotiation.

Approved Naples short sale homes have become a great investment opportunity not only because of the reduced prices but because they eliminate the uncertainty of the traditional short sales.

Click here for a list of Approved Short Sales.


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