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Presidents Day Slows Palm Beach County Foreclosures

By Tom Priester

Real Estate Broker/Owner with Paradise Sharks BK3087579

February 25, 2011 08:09 PM

Palm Beach County foreclosures drop mainly due to shortened holiday week.

With a holiday on Monday there were only four foreclosure auction days this week and as one would expect the number of properties foreclosed upon dropped. Next week we get back to a full week and a “normal schedule” so numbers should once again tick up. It was reported on Thursday that the gap between the average sale of a foreclosed home and that of other properties continues to widen.

The chart above represents the actual foreclosure sales for each week over the past six month period. We do have historical numbers going back since on-line auctions began so if anyone wants that information please contact me at your convenience. Please note that the numbers shown represent the total sales for that week but are not broken down into sales that were sold to the Plaintiff or sold to a third party. This week, the actual foreclosure auction numbers decreased slightly to 233 units from 309 the previous week.

After two weeks in a row with some of the highest success rates of 3rd party bidders at these auctions these numbers pulled back somewhat but still remained at high levels. This week 11.59% of the Palm Beach County foreclosure auctions went to 3rd party bidders. These foreclosures represent some of the best opportunities for buyer’s in today’s market. If you would like to learn how to find one that meets your needs perfectly please give me a call at your convenience. The chart below shows the success rate of 3rd party bidders on a weekly basis since we started tracking this metric.

We take great pride here at “Results Driven Real Estate” in providing our clients the very highest level of service available in the industry. If we can be of assistance in any way with questions you may have about your real estate goals please feel free to contact us at your convenience for a complimentary consultation.