First Foreclosures hit Royal Harbor

Last week we saw the first foreclosed properties hit the market in Royal Harbor. These two properties are now bank owned and are now at very reduced prices from the past few years. Both properties are priced at lot value but both do have homes on them now. These properties are in direct competition with the homes now on the market by residents. this will encourage sellers to look more favorably at all offers to buy.
Presently there are 40 some homes in Royal Harbor for sale and many have prices well below what many thought the market would ever fall to. A few years ago $1.5 million was the start point here for anything. Today several homes are priced in the 900's and below.
This is a buyers market. Some homes have been on the market for 2 or 3 years and have never had an offer. It is true that many owners in this area have deep pockets but for some, selling this season will be a necessity.
If you are one of the people with cash and are looking for deals this area has some of the best possibilities in all of the Naples Area. I have several customers returning this fall for a final look and purchase. These people are going to look awfully smart in a few years as these properties rebound and prices start to edge up again.
Don't you miss this boat. If you are wanting a waterfront property this is the time and the place.