Luxury Foreclosures in Naples On the Rise

Mentioning “luxury” and “foreclosures” in the same breath may not make sense in most cities, but in Naples, Florida the increase in overall foreclosed homes due to the housing crisis has created a new animal that is becoming part of the local real estate market.

front of home for sale in pelican marsh

Pelican Marsh Foreclosure For Sale Listing #: 210028414

Total 2010 year-to-date foreclosure sales of residential properties in Naples as of this post were 1,336 closings with 12 of those being luxury homes that sold between $750,000 and over $3.8 million. Obviously there are a lot less luxury foreclosures than lower priced properties, but, nonetheless, they are on the rise.

Wealthy homeowners are feeling the pinch of the economy just like the middle class. In 2009 there were 11 total foreclosure sales over $750,000 and this year we have already passed that benchmark.

Currently on the Naples MLS there are 12 bank owned, REO properties for sale above $750,000 in a variety of communities from Pelican Marsh (see foreclosed home photo to the right) to Pine Ridge and Colliers Reserve.

Browse a complete list of luxury foreclosures for sale

2 Comments

  1. Shenna on August 1, 2013 at 5:21 pm

    Hello There. Thank you for the post.

  2. George on September 28, 2010 at 9:50 pm

    I have been looking for the right value for quite a while. In passing a friend that new i was in the market had mentioned Mark and White Sands Reality. I did a little research and found him. He really showed me a different aspect of these foreclosed properties. He really knows his stuff when it comes to real estate.

Leave a Comment





© 2003-2017, White Sands Realty
White Sands Realty received an average rating of 5 out of 5 stars from 55 Google+ customer reviews