BOCA RATON, FL (BocaNewsNow.com) — Area foreclosures are up from last month but down from a year ago, suggesting a recovery — albeit a slow recovery — is in effect in Palm Beach County.
From Palm Beach County Clerk of Court Sharon Bock:
There were more new foreclosures cases in March than in February, but the number of new cases dropped compared with the same time last year, according to the latest statistics from the Clerk & Comptroller’s office.
There were 1,118 new foreclosures filed in March, a 9.4 percent increase from 1,022 cases filed in February. However, the number of new cases in March represents a 25.6 percent decrease from 1,502 cases filed in March 2012.
“Despite the decrease from March 2012 to March 2013, the number of new foreclosure cases filed in the first quarter of 2013 is consistent with what we’ve seen throughout all of last year,” Clerk Sharon Bock said. “Our case numbers remain steady.”
Another indicator for Palm Beach County’s housing market is the number of mortgages and deeds recorded by the Clerk & Comptroller’s office. 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.
There were 6,684 deeds recorded in Palm Beach County during March, a 12.1 percent increase from 5,963 deeds recorded in Palm Beach County during February, and a 19.5 percent increase from 5,595 deeds recorded in March 2012.
There also were 4,513 mortgages recorded in March, a 4.1 percent increase from 4,334 mortgages recorded in February, and a 48.6 percent increase from 3,038 mortgages recorded in March 2012.
Foreclosure Sales Results
There were 504 properties sold during March’s online foreclosure auctions, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 328 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, and 176 were sold to a third party.
There were 357 sales canceled in March, out of 861 advertised for sale. The cancellation rate was 41.5 percent, compared with 37.3 percent in February.
The 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 are available at www.mypalmbeachclerk.com.