Investors Picking Up Incredible Deals at Palm Beach County Foreclosure Auctions

Higher Foreclosures Return to Palm Beach County After 5 Month Break




After a long 5 month run where foreclosure numbers in Palm Beach County had been down about 44% from what we had become accustomed to things have changed. For the second week in a row we have seen a significant jump and it may just be that the slowdown was caused by the “robo-signing” debacle and things are just now getting back on track. The good news is the sooner they foreclose on properties where that is the ultimate fate the sooner this market can get back to normal balanced trading conditions. The other good news is investors are picking up some amazing bargains as banks let some of these deals go cheap.

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. This week, the actual foreclosure auction numbers decreased to 223 units from 249 the previous week. It is also the second time in a long while that we have jumped ahead the 6 month moving average.

Third party bidders again had another strong week with almost 19% of auctions ending in their favor; this is the 21st week in a row those numbers have been in excess of 10% and the 9th time in 10 weeks 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. And investors are ending up with some incredible bargains; for example one bidder was successful at $135,700 where the final judgement was $458,130. 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
tom@tompriester.com

Advertisements

Published by

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?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s