Some of the Best Real Estate News Again Comes from Foreclosures; or Lack of Them

Palm Beach County Foreclosures Down for the 14th Week Straight

It is hard to believe there is only one day of summer left here in Palm Beach County. Monday my daughter heads back to school so for me summer is officially over. The real estate market has slowed down the past couple months and much of this slow down may have to do with a lack of good inventory in many neighborhoods and developments. Certainly interest rates could not be better. Having just updated my pending home numbers it looks like the slow down in monthly sales numbers will be with us for at least another couple reports.





There continues to be great news out of the Palm Beach Clerk’s office as foreclosures remain at very low numbers compared to what we had become accustomed to. 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 increased slightly to 139 units from 127 the previous week but still well below the six month averages. Last year during the same week we had 242 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 and I for one hope that we do not see another spike up to previous levels.

Third party bidders had another very successful week ever with over 15% of auctions ending in their favor; this is the 13th 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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