Big Pullback This Week in Palm Beach County Foreclosure Auctions

Foreclosure Sales Decrease this Week in Palm Beach County

After hitting a 17 week high last week we saw a very nice pullback in the number of properties foreclosed upon 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 factoring in the tax benefits and potential future appreciation.







 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 decreased to 271 units from 368 the previous week and hopefully the start of a permanent slow down although we still have a long row to hoe. 

We continue to watch the success rate of 3rd party bidders to see if the recent spike in this success rate is a story worth following. After 2 weeks in a row the where success rate of 3rd party bidders dipped below 10% it jumped back above that threshold this week but just barely at 10.70%. 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
561 308-0175
tom@tompriester.com

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Tom Priester

After spending years among the top individual performers at one of Palm Beach County’s largest and most successful real estate brokerages, Tom Priester knew there was another way to do real estate. A better way. Real estate services focused on the customer. Like the old days when the customer truly was #1. He tired of listening to why he should be going out to have his customers sign one sided buyers’ brokerage agreements. He tired of hearing how he should be selling customers why paying higher commissions, like 7% and 8%, was to their benefit. He tired of hearing how he should sell his clients on why they should be paying hundreds of dollars in additional “transaction fees”. The business had slid way too far from being focused on the customer. His customer. So he decided the time was right to be different…..by design. To start his own unique boutique real estate firm truly focused on his customers. They will now have access to a process focused on them. Only the best marketing techniques to sell their homes. No cutting corners. Commission structures based on his clients needs not his. Paradise Sharks was born out of Tom’s passion to return this business to the customer. Where it belongs. If you want a real estate experience that benefits you, just give Tom a call at 561 308-0175 or send him an e-mail at tom@paradisesharks.com. You can always pay more and receive less but that just would not make any sense. Would it?

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