florida foreclosures: Foreclosures in Palm Beach County Remain Higher in 2012 - 01/21/12 10:54 PM
10th Straight Week of 3rd Party Bidder Supremacy Our third full week of 2012 foreclosure auctions in Palm Beach County and the numbers once again show a continuation of higher foreclosure numbers. And once again the success rate of third party bidders remains high as well. Investors who play the auction game are snapping up bargains and continue to bid, bid, bid. We have projected a higher number of foreclosures for 2012 and so far the numbers seem to back this projection but we are still early into the game. We just finished our fourth week out of the previous five weeks … (1 comments)

florida foreclosures: 2012 Starts Off with a Roar in the Foreclosure World - 01/11/12 08:34 AM
Palm Beach Foreclosures Hit a 35 Week HighThose of you who regularly read my articles know that two factors that I continually talk about that will have a big effect on how much strength the market will carry into the new year are the shortage of quality inventory and just how big the “shadow inventory” is. The Palm Beach County Clerk reports that last week’s foreclosure numbers may certainly help the inventory problem while adding to the “shadow inventory” problem.
 

 
We can hope that improvement in the overall economy will continue and being an election year one would … (1 comments)

florida foreclosures: Final Numbers are in; 12,075 Palm Beach County Properties Foreclosed Upon in 2011 - 12/30/11 06:05 AM
After a Volatile Year of Foreclosures Looking Forward to a New YearAfter a year where over 1,000 properties a month were foreclosed upon in Palm Beach County the real estate market snapped them up and we end the year with some of the lowest inventory numbers we have seen in a very long time. Prices were once again down with a study out by Zillow reporting that homeowners in the United States lost another $681 billion in home value this year. That number equates to just over $6,500 for each of the 104 million homes in the country.


The … (0 comments)

florida foreclosures: Big week in Foreclosures; Investor Demand in Florida has Never Been Stronger - 12/22/11 08:09 PM

Third Party Bidders Set Record Taking almost 24% of Foreclosed Properties What a week it was in the world of foreclosures in Palm Beach County. One would think a shortened calendar with only 4 auction days the week before Christmas would be a yawner. But certainly not too many were sleeping as the level of foreclosures hit an 8 week high while third part bidder success was the second highest ever recorded. 

 
As we wind down 2011 and look into the rear view mirror it has been a good year for the markets, in fact a very good year. … (0 comments)

florida foreclosures: Palm Beach County Foreclosures Remain Volatile - 12/09/11 11:16 PM
Third Party Bidders Again Grab over 15% of Foreclosed Properties The foreclosure auctions here in Palm Beach County still remain an every day occurrence during the normal work week and the roller coaster ride continues again this week. If you look at the chart showing the number of foreclosures on a weekly basis over the past 6 months it looks like a bizarre mountain range in some crazy old cartoon.

 
Home inventory levels remain very low compared to what home buyers have been accustomed to over the past 5 years and it is very difficult to find homes for buyers … (1 comments)

florida foreclosures: Third Party Bidders Snag Palm Beach County Foreclosures at Record Levels - 11/25/11 08:35 AM
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 … (2 comments)

florida foreclosures: Another Strong Week for Palm Beach County Foreclosures - 10/23/11 02:18 AM
Increasing Foreclosures Stay the Course in Palm Beach County
 
It certainly appears that the spike in foreclosure numbers after a five month break is staying steady and I am actually very happy to see this trend change. Inventory levels are at multi-year lows throughout my market area and one would think we could start crowing about price increases but until we free ourselves of the foreclosure noose that crowing will probably still be down the road. Banks are also pushing short sales with some putting serious money on the table; from $5,000 to $20,000 and more to entice under water … (1 comments)

florida foreclosures: Investors Picking Up Incredible Deals at Palm Beach County Foreclosure Auctions - 10/14/11 04:40 AM
Higher Foreclosures Return to Palm Beach County After 5 Month Break
After a long 5 month run where foreclosure numbers in Palm Beach County had been down about 44% from what we had become accustomed to things have changed. For the second week in a row we have seen a significant jump and it may just be that the slowdown was caused by the “robo-signing” debacle and things are just now getting back on track. The good news is the sooner they foreclose on properties where that is the ultimate fate the sooner this market can get back to normal balanced … (0 comments)

florida foreclosures: Palm Beach County Foreclosures Jump After 4 Month Run - 10/08/11 07:17 AM
Is the lower foreclosure numbers party over???
 
After an amazing 20 straight weeks where foreclosure numbers had been down, way down, last week brought us a different story. Not only did the number of auctions jump over 100% from last week but we have our highest weekly total since way back on the week of May 9th which was when the big decline in numbers started. For 20 weeks we enjoyed an average of 169 foreclosures which was about 44% lower than the preceding 20 week period.
 
Now this. Could it be that the decline was due to the … (0 comments)

florida foreclosures: Investors Continue to Snag Properties from Banks at Auction - 09/25/11 01:07 AM
Palm Beach County Foreclosures Down for the 19th Week Straight
 
For 19 straight weeks foreclosures in Palm Beach County have been down, down, down. I get hearing that we should brace ourselves for the next onslaught of bank owned properties but so far no sign of them. In fact inventory levels continue to shrink and in an ordinary market we would expect to be seeing pricing pressure to the upside. But of course this is no ordinary market.  Over the past 19 weeks we have averaged about 172 foreclosures per week in Palm Beach County compared with an average of … (1 comments)

florida foreclosures: 3rd Party Bidders at Palm Beach County Foreclosure Auctions Clean Up Again - 09/14/11 09:34 AM
Palm Beach County Foreclosures Down for the 17th Week Straight
 
Forget about what was, it is time to focus on what is. All the talk about a temporary slowdown in foreclosures may be true but after four months of lower foreclosure numbers these totals are the new reality and the drops are significant indeed. In fact over the past 17 weeks we have averaged about 172 foreclosures per week in Palm Beach County compared with an average of 306 in the preceding 17 week period.
 
There continues to be great news out of the Palm Beach Clerk’s office as … (2 comments)

florida foreclosures: Third Party Bidders Snag Almost 20% of This Weeks Palm Beach County Foreclosures - 08/26/11 06:49 AM
Palm Beach County Foreclosures Down for the 15th Week Straight
 
I am loving the continued slow down of foreclosures in Palm Beach County. I mean really loving it! This week to bring an even bigger smile to my face almost 20% of all this weeks auctions went to third party bidders which is the highest number we have seen to date this year. Banks are letting properties go and the faster they do the sooner we finally work our way out of the great real estate bubble.
 
There continues to be great news out of the Palm Beach Clerk’s office as … (0 comments)

florida foreclosures: Palm Beach County Foreclosure Numbers Continue to be Encouraging - 08/08/11 08:41 PM
Palm Beach County Foreclosures Still Below Moving Average for 12th Straight Week
 
Foreclosure activity in Palm Beach County remained well below the 6 month moving average line last week for the 3rd straight month. As this trend of fewer foreclosures continue the trend line becomes more in line with recent activity and we find these new lower numbers become expected. Shadow inventory is still an undefined number and as we continue to work our way out of the great real estate bubble we will continue to monitor these weekly numbers very closely.
 
The chart above shows the 6 month … (0 comments)

florida foreclosures: Palm Beach County Foreclosures 35% Lower than 6 Month Average - 08/02/11 02:56 AM
Palm Beach County Foreclosures Still Below Moving Average for 11th Straight Week
 
After setting a new 30 week low the number of foreclosures in Palm Beach County picked up a little last week still remained well below the 6th month moving average. In fact over the past 6 months the “average” week saw about 258 properties foreclosed and we were just about 35% below that number last week.
 
Seems like Washington finally “agreed” upon a deal for the deficit reduction but all it really shows is just how controlled everything is. While the headlines all last week shouted “days … (0 comments)

florida foreclosures: Palm Beach County Foreclosures Hit a New 30 Week Low - 07/23/11 12:10 AM
Palm Beach County Foreclosures Down for 10th Straight Week
 
Another interesting week in the wacky world of south Florida real estate. For the tenth straight week the actual number of properties foreclosed upon were down; and this week they were way down. In fact the last time we had lower numbers in any week was way back on December 20, 2010 and we only had three days of auctions that week due to the Christmas holiday.
 
Washington keeps bumbling their way through the credit crisis as both Democrats and Republican continue to argue over the debt ceiling. I am … (1 comments)

florida foreclosures: Foreclosures in Palm Beach County Remain Low for 9th Straight Week - 07/16/11 12:12 AM
Where Does the Mainstream Press Get Their Numbers?
 
As we have now reported here for nine straight weeks the actual number of properties foreclosed upon in Palm Beach County is now down for an extended two month period. The local real estate market has been nothing short of spectacular to date this year, interest rates remain at historic lows and all seems well. Investors continue to gobble up foreclosed properties for a small fraction of what they once sold for and many believe these are the best wealth building opportunities we have seen in 50 years.
 
So what comes … (0 comments)

florida foreclosures: Good News Continues for Palm Beach County Foreclosure Numbers - 07/09/11 01:05 AM
Foreclosure “Slowdown” Hits 8 Weeks in Palm Beach County
 
Week after week, report after report, it is starting to be expected that foreclosures in Palm Beach County will remain far below levels that we had been experiencing. Obviously the level of foreclosures that we have experienced over the past few years is the primary reason prices are down and future foreclosures will also be a major metric in home prices as we move forward.
 
What we do know is numbers are down; way down from where they were just a couple months ago. We also know the “robo-signing” issues … (1 comments)

florida foreclosures: Foreclosure Auctions in Palm Beach County Down 42% - 07/03/11 04:41 AM
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 … (0 comments)

florida foreclosures: Another Good Week for Palm Beach County Foreclosure Auctions - 06/24/11 08:38 AM

Foreclosure Auctions In Palm Beach County Up This Week
 
As we have reported over the past 6 weeks, we have seen a significant decrease in the number of foreclosures in Palm Beach County. This week, while the numbers were up significantly, they still remain in the lower range of we have been experiencing. Still hoping this is a trend that we will see continue but it could be a side effect of the robo-signing scandal that has received so much press. Watching numbers in the coming weeks will be very, very interesting.The chart above represents the actual foreclosure sales … (0 comments)

florida foreclosures: Submitting an Offer has NEVER Been Easier - 06/22/11 10:34 PM
Last night I finally pulled myself away from the computer about 7:30 to go home and say hello to my family. Still knowing I had an offer to prepare for one of my clients who lives in Canada I knew I probably had at least one more task to complete before calling it a day.I called my client to see if I got the contract to them before the sun came up if they could execute and get it back to me in the morning. Affirmative! Great I can officially call it a day.Keeping some weird hours I arrived this morning … (29 comments)

 
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Tom Priester

Paradise Sharks

Jupiter, FL

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