Third Party Bidders Grab over 21% of Foreclosed Properties This Week
Wow what a little havoc a well planned holiday can play. Working like crazy to ensure I took care of my clients before leaving the country on a little vacation then coming back to a real estate market that is on fire has put me behind on my blogs; way behind. With the Thanksgiving weekend upon us I knew the annual slowdown we experience this weekend would allow me to catch up and for that I am thankful!
The first place we will get started to bring our readers back to speed is the foreclosure market in Palm Beach County which has shown some stronger numbers since our last update but things have leveled off nicely the past three weeks.
The chart above shows the 6 month trend of foreclosures in Palm Beach County and as you see the numbers have been higher over the past several weeks. This week, the actual foreclosure auction numbers decreased by 45 to 134 units from 179 the previous week and the lowest weekly total since the week of September 26th. Granted we had a short week due to the Thanksgiving holiday but we can expect more volatility as we work our way towards 2012.
Third party bidders had a huge week with 21.64% of auctions ending in their favor which is the 2nd highest weekly total that we have seen since we started to track these numbers. It is very clear that banks are letting more properties go for bargain prices to those who play the foreclosure game. 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. Simply put it is a great time to be an investor.
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
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