Foreclosure Numbers Down Again in Palm Beach County; Is This a Trend??
Same story for the third week in a row in the Palm Beach County foreclosure market. For the 3rd week in a row we have seen lower than what had been average numbers and I sit waiting, watching and hoping that this may in fact be a start of a trend. No doubt there are plenty of foreclosures out there on the road ahead and while the market has done an amazing job of absorbing listings of REO properties a longer term continuation of lower weekly numbers would be awesome news. One caveat this week is it was a shortened schedule as auctions were only held on 4 days due to the Memorial Day holiday.
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 207 units from 234 the previous week but again we had no auction on Monday.
Two weeks ago we said goodbye to our tracking of the third party success rate as it was getting boring and we had certainly proven that the success rate of these bidders had improved dramatically from 5% to about 10%. Then I say I am not tracking this anymore and it jumps to about 15% last week and similar numbers this week. If we see these numbers continue it is certainly safe to say some plaintiffs are lowering there high bids and happy to let investors and other bidders take on some of their headaches.
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