florida foreclosures: No Doubt About this Trend; Foreclosures Down 43% in Palm Beach County - 06/18/11 01:20 AM
 
More Great News from the Palm Beach County Clerk
 
Sounding like a broken record but it has now been the same story for the fifth week in a row in the Palm Beach County foreclosure market. After over a month I am going out on a limb and saying we do have a trend of fewer foreclosures in Palm Beach County. Just add up the totals for the past 5 weeks and we get 904 with the highest weekly total being 234. The 5 weeks prior to this stretch the total was 1,583 and the lowest weekly total was … (1 comments)

florida foreclosures: Are Palm Beach County Foreclosures Really "Drying Up"? - 06/11/11 09:56 AM
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 … (0 comments)

florida foreclosures: Palm Beach County Foreclosure News Continues to be Good - 06/04/11 12:41 AM
Foreclosure Numbers Down Again in Palm Beach County; Is This a Trend??
 
Same story for the third week in a row in the Palm Beach County foreclosure market. For the 3rd 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. No doubt there are plenty of foreclosures out there on the road ahead and while the market has done an amazing job of absorbing listings of REO properties a longer term continuation of lower weekly numbers would … (2 comments)

florida foreclosures: Another Good News Week for Palm Beach County Foreclosures - 05/27/11 08:24 AM
Foreclosure Numbers Down Again in Palm Beach County; Is This a Trend?
 
After dropping 51% last week to the lowest 5 day total we have seen since on-line foreclosure auctions began in Palm Beach County I was antsy to see how we would follow up on that incredible news. Watching daily at the action I am happy to report as we wrap up the week that numbers again were low this week. Not as low as last week but still comparatively low and I am hopeful that this may be in fact a trend.The chart above represents the actual foreclosure … (0 comments)

florida foreclosures: Let's Celebrate Palm Beach County; Foreclosures DOWN 51% - 05/20/11 07:34 AM
Lowest 5 Day Total Since On-line Foreclosure Auctions Began
 
After high numbers out of the Palm Beach County foreclosure auctions last week the numbers dropped this week and that is an understatement. In fact you could say they dropped like a large rock dropped from a hot air balloon.  We are seeing a lot of news lately about how foreclosures are down; in fact one report last week reported a 40- month low across the country and these are generally speaking of initial filings but this is the first sign I have seen at the end of the process. Is … (1 comments)

florida foreclosures: Interest Rates Hit a 24 Week Low - 05/15/11 08:34 PM
Interest Rates Down for the 5th Week in a Row
 
Interest rates decreased last week for the 5th week in a row and brings us a new 24 week low for 30 year fixed mortgages. This marked the 1st time since September 5th of last year that we have seen rates slide for 5 consecutive weeks. Rates still remain very low and the market remains perfect for buyers and those who still have not taken this historical opportunity to refinance. As of today the average overnight rate, as reported by Bankrate.com, for a 30 year fixed rate sits at 4.59% … (3 comments)

florida foreclosures: Palm Beach County Foreclosures Up 21% Last Week - 05/15/11 08:10 PM
Palm Beach County Foreclosures Pick Up Again Last Week
 
After lower numbers out of the Palm Beach County foreclosure auctions last week the numbers jumped back up this week. We are seeing a lot of news lately about how foreclosures are down; in fact one report last week reported a 40- month low across the country. This may in fact be true in pre-foreclosure filings but things certainly have not slowed down at the daily auctions in Palm Beach County.The chart above represents the actual foreclosure sales for each week over the past six month period. We do have historical … (0 comments)

florida foreclosures: 9,000 Palm Beach County Stalled Foreclosure Cases "Re-started" - 05/06/11 10:24 AM

 
After Big Foreclosure Auction Numbers Last Week Things Simmer Down
After huge numbers out of the Palm Beach County foreclosure auctions last week things came back to “normal” this week. The big news came today when the County court ruled to restart approximately 9,000 stalled foreclosure cases that had been previously handled by David Stern. This was big news and keeps us on track to keep working through these foreclosures which really needs to be done before we can start seeing any significant pricing increases. They could have thrown out 500 of these cases today which would have slowed … (0 comments)

florida foreclosures: A Really BIG Week for Foreclosures in Palm Beach County - 04/30/11 08:07 PM
Highest Weekly Foreclosure Auction Numbers Since December 6, 2010
 
The foreclosure auction market in Palm Beach County remains live and kicking.  While investors continue to flock to the market purchasing foreclosures that in some cases are selling for 20% of what they were during the height of real estate mania we need them to keep on buying based on the numbers seen this week. Even though the prior week was shortened due to Good Friday a jump of almost 38% in one week is certainly significant.The chart above represents the actual foreclosure sales for each week over the past six … (2 comments)

florida foreclosures: Shortened Week for Palm Beach County Foreclosures - 04/23/11 02:30 AM
Even With Good Friday Palm Beach County Foreclosure Auctions Increase
 
After hitting a 17 week high two weeks ago we saw a very nice pullback in the number of properties foreclosed upon last week in Palm Beach County.  With a shortened auction calendar due to Good Friday I was thinking we should see another pullback this week, but we actually had a small spike. Investors continue to flock to the market purchasing foreclosures that in some cases are selling for 20% of what they were during the height of real estate mania. Cash on cash returns are outstanding and when … (0 comments)

florida foreclosures: Big Pullback This Week in Palm Beach County Foreclosure Auctions - 04/15/11 06:21 AM
Foreclosure Sales Decrease this Week in Palm Beach County
 
After hitting a 17 week high last week we saw a very nice pullback in the number of properties foreclosed upon this week in Palm Beach County. Investors continue to flock to the market purchasing foreclosures that in some cases are selling for 20% of what they were during the height of real estate mania. Cash on cash returns are outstanding and when they hit the market they are selling very quickly. As I have been shouting for a year these properties are some of the best investments one can make … (0 comments)

florida foreclosures: 17 Week High This Week for Palm Beach County Foreclosures - 04/09/11 12:02 AM
Foreclosures hit 4 Month High In Palm Beach County
 
The foreclosure auction business once again showed no signs of slowing down this week in Palm Beach County. Investors continue to flock to the market purchasing foreclosures that in some cases are selling for 20% of what they were during the height of real estate mania. Cash on cash returns are outstanding and when they hit the market they are selling very quickly. As I have been shouting for a year these properties are some of the best investments one can make today with some yielding safe 10%+ returns not even … (0 comments)

florida foreclosures: 3rd Party Success Rate at Foreclosure Auctions up 45% - 03/11/11 10:01 PM
Steady as she goes for Palm Beach County foreclosures.
 
As we hear more reports of the reduction in the number on initial foreclosure filings on the front lines we are seeing no change. Over the past 6 months the number of properties being foreclosed on in Palm Beach County have averaged 290 per week.  So what happened this week?
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 … (1 comments)

florida foreclosures: HAMP Program Under Fire as Foreclosures Increase in Palm Beach County - 03/04/11 11:19 PM

 
Palm Beach County foreclosure auctions return to normal 5 day schedule.
 
Following on the heels of a shortened “Presidents Day” week the foreclosure auction action in Palm Beach returned to its Monday through Friday routine. News hot off the Associated Press wires tell of plans by a House committee to write legislation next week ending the Obama administration’s effort for helping struggling homeowners avoid foreclosure and to abolish three other housing assistance programs. The largest of these programs is HAMP which is an acronym for Housing Financial Affordable Modification Program which many say continues to fall dramatically short … (0 comments)

florida foreclosures: 3rd Party Bidders Continue to Snap Up Deals at This Week's Palm Beach County Foreclosure Auctions - 02/18/11 04:32 AM
Third party bidders rule for the 2nd straight week foreclosure auctions in Palm Beach County.
 
The success rate of 3rd party bidders spiked last week and this week we saw very similar numbers which is most interesting indeed so we are going to keep watching the action. Are banks lowering the amount they are willing to bid to lower the number of REO properties on their books? Are 3rd party bidders getting more aggressive with their bids? A combination of both perhaps. We still are seeing a very tight range in the number of foreclosures over the past 7 weeks … (1 comments)

florida foreclosures: Anatomy of a Foreclosure in Today's Real Estate Market - 01/27/11 06:49 AM
 

 
 
Today I saw another great new bank owned foreclosure listing hit the market at $424,900 and I thought it would make great fodder to take a look at the anatomy of a REO listing and what an asset a good Realtor® is to a buyer.
 
Typically, before a foreclosure hits the market there is a long series of events that brought us to this point. In this case the home was last purchased on July 23, 2003 for $437,000 and was last marketed as a short sale a little late in the foreclosure game. It was … (0 comments)

florida foreclosures: Palm Beach County Foreclosure Auctions Back to Normal Schedule - 01/08/11 06:11 AM
 
 

 
With the holidays in the rearview mirror it is back to our now normal 5 day foreclosure auction schedule in Palm Beach County. Initial foreclosure filings in Palm Beach County have been going down for the first time in almost 4 years so we may actually be starting to see a glimmer of light at the end of the tunnel.
 
Since the five day schedule is a relatively new format it will be worthwhile to keep watching the actual foreclosure numbers as we move through the year. A relatively new phenomena is the success we have … (0 comments)

florida foreclosures: Record 2010 Low for Palm Beach County Foreclosure Auctions - 12/22/10 07:39 PM
 

 
Where did all the foreclosures go, Christmas Style?
 
After last week when we saw the lowest foreclosure numbers in Palm Beach County since we went to a 5 day auction schedule we found that perhaps this might be a trend. Granted this is a shortened week due to the Christmas holiday, with only three auction days on the calendar, but it also was the lowest weekly foreclosure total for the year!
 
The chart above represents the advertised foreclosure sales for each week over the past six month period. We do have historical numbers going back since … (1 comments)

 
Tom Priester, Paradise Sharks  (Paradise Sharks )

Tom Priester

Paradise Sharks

Jupiter, FL

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Paradise Sharks

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