Local Foreclosures Down, But Sale Closings Drop Too

BOCA RATON, FL (BocaNewsNow.com) — The Palm Beach County Clerk’s Office just alerted us to the latest real estate numbers out — showing that foreclosures in Palm Beach County have dropped, but the number of successful real estate closings in the county is down as well.

From the Clerk’s office:

New foreclosure cases filed in Palm Beach County continued their downward trend, with new foreclosures down for the fourth straight month in January.There were 568 new foreclosures filed in January, a 3.2 percent decrease from 587 cases filed in December 2013 and a 55.8 percent decrease from 1,284 cases filed in January 2013 

“Our foreclosure case filings continue to decline, following the trend that began last summer,” Clerk Sharon Bock said. “However, we continue to monitor our caseload for any signs that this trend could reverse.”

Mortgages/Deeds Recorded

Palm Beach County saw fewer deeds and mortgages recorded in January. There were 5,358 deeds recorded in January, a 13.9 percent decrease from 6,221 deeds recorded in December 2013 and a 9.6 percent decrease from 5,925 deeds recorded in January 2013.

There were 2,593 mortgages recorded in January, a 15.1 percent decrease from 3,055 mortgages recorded in December 2013 and 35.9 percent decrease from 4,048 mortgages recorded in January 2013.

The Clerk’s office is the keeper of Palm Beach County’s official records, and records all deeds and mortgages submitted for recording in Palm Beach County.

Foreclosure Sales Results

There were 1,082 properties sold at foreclosure auction in January, according to statistics from Grant Street Group, the facilitator ofClerkAuction®. Of those, 862 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, and 220 were sold to a third party. Two properties did not sell at auction.

There were 619 sales canceled in January, out of 1,703 scheduled for sale. The cancellation rate was 36.4 percent, compared with 35.9 percent in DecemberThe Clerk & Comptroller’s office processes all foreclosure-related court documents, notices of action and motions. After a foreclosure judgment, the office conducts the foreclosure auction and issues all post-sale documents, such as the certificate of title.  Information about foreclosures, updates about when certificates of title will be issued and links to auctions of Palm Beach County’s foreclosed properties is available at www.mypalmbeachclerk.com.

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