palm beach county foreclosures: Investor Demand for Foreclosures Incredibly Strong - 04/29/12 01:35 AM
The Foreclosures are Coming, the Foreclosures are Coming!The cries of Paul Revere come to mind as I keep hearing “The foreclosures are coming” and “Wait until that shadow inventory comes to the market. No doubt there are signs of higher foreclosure numbers coming but to date the opposite has been true. As you may recall, we reported in this column that 1st quarter foreclosures in Palm Beach County were down about 28% from year ago levels. Since then the trend remains the same and this week we hit a new 8 week low.
 

 
The chart above shows you … (2 comments)

palm beach county foreclosures: Palm Beach County Foreclosure Rate Down 28% - 04/27/12 01:50 AM
Two Month High in 3rd Party Success RateWhile the Palm Beach County Clerk was closed for Good Friday there was plenty of room on the docket earlier in the week. So last week’s drop below 200 for the first time in 4 weeks can probably be blamed on many things but certainly not the Easter holiday. We keep hearing that 2012 will be the year we see much higher foreclosure numbers but to date those projections have not come to fruition. For the 1st quarter of the year we sit at 2,812 foreclosed properties compared to 3,926 during the same period … (0 comments)

palm beach county foreclosures: February Slowdown in Palm Beach County Foreclosures Continues - 02/26/12 05:38 AM
3rd Party Success Rate at Palm Beach County Foreclosure Auctions Down AgainThe foreclosure process is a daily reminder of how the market run up of real estate prices earlier in the century proves what goes up must come down. And crashing down they came but the historical support level for pricing has been broken and with real estate now trading some 20% lower than normal price growth it remains potentially the best investment opportunity one will ever see. Most expectations are for prices to continue to stabilize throughout the year as a projected increase in foreclosure numbers over 2011 continues to … (2 comments)

palm beach county foreclosures: Welcome Reprieve in Palm Beach County Foreclosure Numbers - 01/29/12 06:03 AM
11th Straight Week of 3rd Party Bidder Supremacy Finally after 3 weeks of much higher foreclosure numbers in Palm Beach County a reprieve and who knows maybe the start of a reversal in trend. Our fourth full week of 2012 foreclosure auctions in Palm Beach County brought the number of weekly foreclosures below 200 for the first time in 7 weeks.  Third party vendors continue to grab a large percentage of the prizes to continue the trend of banks letting properties go to others.
 

 
The chart above shows you the six-month trend of foreclosures in Palm Beach County where … (1 comments)

palm beach county 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)

palm beach county foreclosures: 9th Straight Week of 3rd Party Supremcy at Palm Beach County Foreclosure Auctions - 01/13/12 09:35 AM
Palm Beach Foreclosures Have Another Big WeekFor those who monitor the traditional press you probably saw the article that was all over the Associated Press wires yesterday that 1,900,000 million homes entered the foreclosure process during 2011 and that was the lowest level since 2007 the first full after the real estate bubble popped. The article asked us to not get too excited as some of this slowdown was caused by the “robo-signing” debacle that caused the big stir and is still hanging over our heads.
 

 
For the second straight week the number of homes foreclosed on in … (2 comments)

palm beach county 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)

palm beach county 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)

palm beach county 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)

palm beach county foreclosures: Palm Beach County Foreclosures Remain Volatile This Week - 12/17/11 01:04 AM

Third Party Bidders Snag almost 20% of Foreclosed Properties Banks continue to lower the amounts they are willing to bid at Palm Beach County foreclosure auctions and investors remain lined up to jump on the opportunities that make sense. No doubt this market and the banks desire to lower their inventory has created a perfect storm for this with cash and a good working knowledge of the process.

 
Home inventory levels remain very low compared to what home buyers have been accustomed to over the past 5 years but over the past couple months we have seen some slight … (0 comments)

palm beach county 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)

palm beach county 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)

palm beach county 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)

palm beach county 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)

palm beach county foreclosures: Palm Beach County Foreclosure Numbers Continue to Look Positive - 09/30/11 04:58 AM
Palm Beach County Foreclosures Down for the 20th Week Straight
 
For 20 straight weeks foreclosures in Palm Beach County have been down, down, down. And this week they got even lower as we hit the lowest weekly total we have seen during that 20 week span. I keep hearing that we should brace ourselves for the next onslaught of bank owned properties but so far no sign of them and with the percentage of auctions going to 3rd party bidders lately I am not so sure we will see it. In fact inventory levels continue to shrink and in an … (0 comments)

palm beach county foreclosures: 3rd Party Bidders Continue to Rule the Roost at Palm Beach County Foreclosure Auctions - 09/17/11 11:49 PM
Palm Beach County Foreclosures Down for the 18th 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 18 weeks we have averaged about 171 foreclosures per week in Palm Beach County compared with an average of 309 in the preceding 18 week period.
 
There continues to be great news out of the Palm Beach Clerk’s office as … (0 comments)

palm beach county 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)

palm beach county 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)

palm beach county 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)

palm beach county 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)

 
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Tom Priester

Paradise Sharks

Jupiter, FL

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