Let’s Celebrate Palm Beach County; Foreclosures DOWN 51%

Lowest 5 Day Total Since On-line Foreclosure Auctions Began

After high numbers out of the Palm Beach County foreclosure auctions last week the numbers dropped this week and that is an understatement. In fact you could say they dropped like a large rock dropped from a hot air balloon. We are seeing a lot of news lately about how foreclosures are down; in fact one report last week reported a 40- month low across the country and these are generally speaking of initial filings but this is the first sign I have seen at the end of the process. Is this the beginning of a trend and strong signal that we do see the light at the end of the tunnel. Or is this just a week when judges wanted a light load on the docket?

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 amazingly to 174 units from 354 the previous week. Talk about some damn good news!

This week are also going to say goodbye to our charting of the 3rd party success rate. We have been watching this for a while as we noticed how the number of properties being purchased by 3rd party bidders had jumped from an average of about 5% each week to numbers above 10%. This week that trend continued with 9.2% of auctions not going to the bank. There is no doubt that bank’s are letting more properties go to others and this is a good sign as well. Suffice it to say the numbers have doubled and if we see any material changes in the future we will certainly inform you. 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


Published by

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?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s