10 August 2010
Short Sale and Foreclosure Update in Naples Area
Posted by Lori Bender under: Naples Fl Homes for sale .
Market timing is critical in real estate investing. If you buy at the top of the market, you’re likely to be underwater even in the most up and coming areas. Obviously, most of the country is sitting with their feet in the water these days. On the flip side, where there is water, there is also opportunity.
There is strong indication that we are currently at or close to the bottom of the market in southwest Florida. If you buy near the bottom of the market, almost any property will make you money. CNN and Forbes have kept a steady stream of investors coming to the Naples area to spend their money with continuing articles about our areas real estate being under valued.
Our foreclosures are actually being snapped up at a good rate compared to other areas of the country where languishing foreclosed properties are sitting on the market and turning once nice areas into blighted neighborhoods. Often, there are multiple offers on short sales and bidding wars on foreclosures. Investors are having to bring in strong offers. Things could be worse.
