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 of any meaningful standard of success.
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 significantly to 324 units from 233 the previous week and the highest level we have seen for 7 weeks.
We are still watching the success rate of 3rd party bidders to see if the recent spike in this success rate is a story worth following. This week 10.80% of the Palm Beach County foreclosure auctions went to 3rd party bidders and for the 4th week in a row remains at double digit levels. 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. The chart below shows the success rate of 3rd party bidders on a weekly basis since we started tracking this metric.
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 throughout Palm Beach or Martin Counties 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