west palm beach 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)
west palm beach 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)
west palm beach 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)
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)
west palm beach 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)
Foreclosure activity in Palm Beach County remained well below the 6 month moving average line last week for the 13th straight week. 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 trend of foreclosures … (0 comments)
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)
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)
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)
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)
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)
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)
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)
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)
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.
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