Foreclosure Auctions In Palm Beach County Up This Week
As we have reported over the past 6 weeks, we have seen a significant decrease in the number of foreclosures in Palm Beach County. This week, while the numbers were up significantly, they still remain in the lower range of we have been experiencing. Still hoping this is a trend that we will see continue but it could be a side effect of the robo-signing scandal that has received so much press. Watching numbers in the coming weeks will be very, very interesting.
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 to 233 units from 145 the previous week but still low for what we had been seeing over the past months.
Third party bidders still saw success in over 10% of auctions but did not participate in all. On of the slowest days on the calendar this week was Tuesday when only 12 properties were on the block, but there were some big ones that day. That is if you consider a final judgement of $35,017,625 big. The Plaintiff announced prior to the auction that they would not bid higher than $17,700,000 willing to walk away from about 50% of their investment. Still not enough to interest any outside suitors as the auction ended after the initial $100 bid.
Here at “Results Driven Real Estate” we are passionate about the market and love assisting each one of our clients achieve their real estate goals. If we can ever be of help in any way with your needs throughout Palm Beach and Martin Counties please feel free to contact Tom at 561 308-0175 or via e-mail at firstname.lastname@example.org. It would be my sincere honor to work with you!
Always at Your Service,
Tom Priester e-PRO
“Results Driven Real Estate”
Keller Williams Realty