The hottest segment of the Naples Real Estate Market is the $200,000 range single-family foreclosure homes. When a foreclosure home hits the market, it is usually listed about 10% to 15% below all other comparables 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 $10,000 to $15,000 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
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. Banks usually have a window of 30 to 60 days to unload their inventory.
Check out the newest Foreclosures in Naples below !