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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. Total 2010 year-to-date foreclosure sales of residential properties in Naples as…

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You may have heard the term REO used more often lately on the news or in conjunction with real estate. REO is an acronym for Real-Estate-Owned. Most REO’s are owned by a lender at a result of a foreclosure on a property. Lenders refer to these properties as REO since that is how the asset…

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