Actually the listing you are loooking at is a vacation rental price. The high end properties do rent during season for a high pirce.
Foreclosure can mean a short sale (before the bank takes the property back) or a bank owned propery.
The short sale tends to be a long, drawn out process and in some cases may never happen. It is also a very competitive process on the desirable properties.
The most efficient deals are the very well priced prperties without a third party (a bank/lender) calling the shots.
Also in South Florida the financing is a stumbling block because somein buildlings there are a larger amount of foreclosures than a bank wants to see. That is becoming not as much of an issue as units are sold, but it does come into play with financing. But a realtor can guide you with this, and help you avoid buildings that may hinder your finacing.
There is not a short answer to your question, a lot of issues come into play. I would be glad to assist you and learn of your particular criteria. There are some great deals., but it can be tought to navigate.
Feel free to contact me directly,
South Florida Brokers