9,000 Palm Beach County Stalled Foreclosure Cases “Re-started”

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 been 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 down the entire process and only served to lengthen the time it takes before we get back to normal.

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 significantly to 292 units from 386 the previous week.

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. Over the past few months we have seen the success rate double from what we had been experiencing and we continue to see some back and forth on the actual percentages and this week that rate was up big to 13.01% the highest number we have seen for 8 weeks. The higher that number the fewer foreclosures the banks have to deal with. 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


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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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