Foreclosure Auctions in Palm Beach County Down 42%

Foreclosure Auctions In Palm Beach County Down Again

Now for the 7th amazing week in a row we are very pleased to report yet another significant decrease in the number of foreclosures in Palm Beach County. It is remarkable that over this time span we have averaged just 188 foreclosures per week and if we look at the 7 week period preceding this recent run we were averaging 325. That is an amazing, no make that remarkable decrease of 42%.

What are we seeing here? Is this the slowdown we have all been hoping for? Is this just a bi-product of the “robo-signing” scandal with numbers to jump back up in the coming weeks? Maybe a combination of both but we will be here bringing you the latest every week as these foreclosures, along with interest rates, will go a long ways in determining how strong this recovery can remain during the summer months.

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 179 units from 233 the previous week and in line with the lower numbers we have been seeing.

Third party bidders saw another successful week with over 14% of auctions ending in their favor. We continue to keep our eyes on these numbers as it is clear banks are happy to let some of their headaches go at this level to investors and not having to go the REO route.

Here at “Results Driven Real Estate” we are passionate about the market and love assisting each one of our clients achieve their real estate goals. If we can ever be of help in any way with your needs throughout Palm Beach and Martin Counties please feel free to contact Tom at 561 308-0175 or via e-mail attom@tompriester.com. It would be my sincere honor to work with you!

Always at Your Service,

Tom Priester   e-PRO

"Results Driven Real Estate"

Keller Williams Realty

561 308-0175

tom@tompriester.com