3rd Part Bidders Snap up 16.% of Foreclosures at This Week's Palm Beach County Auctions

By
Real Estate Broker/Owner with Paradise Sharks BK3087579

 

Third party bidders rule at this week’s foreclosure auctions in Palm Beach County.

 

The success rate of 3rd party bidders spike this week as did the actual number of foreclosures which hit the highest weekly total in four weeks. We still are seeing a very tight range over the past few weeks. This week it was reported that initial foreclosure filings in Florida were way down and in fact we ranked only #7 on the list of the most foreclosures by state. This is our best showing in about 4 years and perhaps there is a light starting to peak out from the end of this tunnel. The numbers we track here are the actual foreclosures and the initial filings will take some time to hit the auction table.




 

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 note that the numbers shown represent the total sales for that week but are not broken down into sales that were sold to the Plaintiff or sold to a third party. This week, the actual foreclosure auction numbers increased slightly to 307 units from 267 the previous week. 

 

This week the success rate of 3rd party bidders was at 16.5% which is the highest we have seen in 9 weeks and the 2nd highest we have seen since we began tracking this metric. These foreclosures represent some of the best opportunities for buyer’s in today’s market. If you would like to learn how to find one that meets your needs perfectly please give me a call at your convenience. 





We take great pride here at “Results Driven Real Estate” in providing our clients the very highest level of service available in the industry. If we can be of assistance in any way with questions you may have about your real estate goals please feel free to contact us at your convenience for a complimentary consultation.

 

 

 

Always at Your Service,

 

 

Tom Priester   e-PRO

"Results Driven Real Estate"

 

Keller Williams Realty

561 308-0175

tom@tompriester.com

 

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Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Good report. . perhaps Florida its on the way of recovery now. .

Feb 11, 2011 09:47 PM #1
Rainer
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Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Tom - Either the banks are getting smarter about their foreclosure prices or values are going up to have that high a percentage of 3rd party purchases.  I hope it is the later.

Feb 11, 2011 10:56 PM #2
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Tom Priester

Paradise Sharks
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