In the Naples real estate market, Naples Reo Bank Owned properties, or Naples foreclosures (properties that have already been foreclosed on) continue to demand offers in line with list price. Banks are aggressively pricing their listings to generate interest, and it is paying off. Although the final price is on average less than comps sell for on the resale market, they are moving. From 9-1-09 to 11-30-09 (last 3 months) there were 431 bank owned REO closed sales. On average, properties sold for 101% of list price. In other words, on average, Naples homes and Naples condos sold for at least asking price. This trend dates back prior to the last 3 months, but the numbers tell you that the trend continues. Here are the closed Naples repossessions during this period:
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