No Doubt About this Trend; Foreclosures Down 43% in Palm Beach County

By
Real Estate Broker/Owner with Paradise Sharks BK3087579

 

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 271. Truly quite a turnaround and a 43% decline when comparing the two periods. Remarkable!

 

What we do not know, and it is too early to say, is this really the beginning of the end of the great real estate collapse? Or is this a residual effect of the robo-signing debacle? One thing is for sure, “Results Driven Real Estate” will be here every week giving you the facts.






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 to 145 units from 144 the previous week and still at a record low since auctions have been held on line.

 

Third party bidders did not have as much success this week as for the past three weeks we were seeing them win about 14% of the auctions that were held. This week that number dropped to 10.34% which is still high and a sign that banks are happy to let investors take over some of their headaches.

 

 

Here at “Results Driven Real Estate” we are passionate about the market and love assisting each one of our clients achieve their real estate goals. If we can ever be of help in any way with your needs throughout Palm Beach and Martin Counties please feel free to contact Tom at 561 308-0175 or via e-mail attom@tompriester.com. It would be my sincere honor to work with you!

 

 

 

Always at Your Service,

 

 

Tom Priester   e-PRO

"Results Driven Real Estate"

 

Keller Williams Realty

561 308-0175

tom@tompriester.com

Comments (1)

Adam R. Cohn
STANDARD MORTGAGE CO. - Delray Beach, FL
We actually get mortgages closed FAST!

Its good to hear that the number of forclosures are going down.  Hopefully it stays that way.

Have a great day!

Adam R. Cohn

Jun 18, 2011 01:36 AM