3rd Party Bidders at Palm Beach County Foreclosure Auctions Clean Up Again

Palm Beach County Foreclosures Down for the 17th Week Straight

Forget about what was, it is time to focus on what is. All the talk about a temporary slowdown in foreclosures may be true but after four months of lower foreclosure numbers these totals are the new reality and the drops are significant indeed. In fact over the past 17 weeks we have averaged about 172 foreclosures per week in Palm Beach County compared with an average of 306 in the preceding 17 week period.

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 decreased to 129 units from 158 the previous week but still well below the six month average which sits at 227. 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 amazing week with almost 18% of auctions ending in their favor; this is the 16th week in a row those numbers have been in excess of 10% and this is the 5th straight week we have exceeded 15%. It is very clear that banks are letting more properties go for bargain prices to those who play the foreclosure game. 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. Simply put it is a great time to be an investor.

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


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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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