Are Palm Beach County Foreclosures Really "Drying Up"?

Foreclosure Numbers Down Again in Palm Beach County; Is This Really a Trend??

Same story for the fourth week in a row in the Palm Beach County foreclosure market. For the 4th week in a row we have seen lower than what had been average numbers and I sit waiting, watching and hoping that this may in fact be a start of a trend. This weeks numbers were really incredible; consider we have reported “lower” numbers the previous three weeks at 174, 234 and 207. Then this week we get thrown a much lower number than any of them. In fact what we saw was a record low.





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 to 144 units from 207 the previous week and a record low since auctions have been help on line. If you look at the chart above you will see lower numbers for the week of December 20th but remember only 3 auction days were on the calendar that week due to the Christmas holiday.

Three weeks ago we said goodbye to our tracking of the third party success rate as it was getting boring and we had certainly proven that the success rate of these bidders had improved dramatically from 5% to about 10%. Then I say I am not tracking this anymore and it jumps to about 15% the last two weeks and this week we have another fairly high number at 12.5%. If we see these numbers continue it is certainly safe to say some plaintiffs are lowering there high bids and happy to let investors and other bidders take on some of their headaches.

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  throughout Palm Beach or Martin Counties please feel free to contact us at your convenience for a complimentary consultation.

Always at Your Service,

Tom Priester   e-PRO

"Results Driven Real Estate"

Keller Williams Realty

561 308-0175

tom@tompriester.com