Another Amazing Drop in Palm Beach County Foreclosures


Palm Beach County Foreclosures Remain at Very Low Levels

Foreclosure activity in Palm Beach County remained well below the 6 month moving average line last week for the 13th straight week. As this trend of fewer foreclosures continue the trend line becomes more in line with recent activity and we find these new lower numbers become expected. Shadow inventory is still an undefined number and as we continue to work our way out of the great real estate bubble we will continue to monitor these weekly numbers very closely.






The chart above shows the 6 month trend of foreclosures in Palm Beach County and we do have historical numbers going back to February 1, 2010 when we began the on-line bidding process. 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. Last week, the actual foreclosure auction numbers decreased to 127 units from 198 the previous week but still well below the six month averages. Last year during the same week we had 273 foreclosures so we are seeing a remarkable drop off. As we have also reported the “robo-signing” debacle may be the cause of this slow down in activity but it is really hard to say.

Third party bidders had their 2nd most successful week ever with an amazing 18.1% of auctions ending in their favor; this is the 12th week in a row those numbers have been in excess of 10%. We continue to keep our eyes on these numbers as it is clear banks are happy to let some of their headaches go at this level to investors and not having to go the REO route.

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 tom@tompriester.com. 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
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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