New foreclosure trend for Palm Beach County

Foreclosure signThe latest statistics released by the Clerk & Comptroller’s office indicate the number of new foreclosure cases is up just over 12 percent in Palm Beach County compared to cases filed in December. Foreclosures are also up over the same period last year.

According to a release from Clerk & Comptroller Sharon Bock’s office:

There were 1,284 new foreclosures filed in January, a 12.1-percent increase from 1,155 cases filed in December 2012, and a 7.36-percent increase from 1,196 cases filed in January 2012.

“We continue to see a steady number of new foreclosure cases filed with us,” Bock said. “We certainly haven’t seen the volatility in the number of new cases filed as we have in previous years.” 

Mortgages/Deeds Recorded

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 5,925 deeds recorded in Palm Beach County during January, a 2.62-percent increase from 5,774 deeds during December 2012, and a 21.36-percent increase from 4,882 deeds recorded in January 2012.

There also were 4,048 mortgages recorded in January, a 24.21-percent increase from 3,259 mortgages recorded in December 2012, and a 55.99-percent increase from 2,595 mortgages recorded in January 2012.

Foreclosure Sales Results

There were 1,107 properties sold during January’s online foreclosure auctions, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 846 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, and 261 were sold to a third party. One property did not sell at auction. 

There were 531 sales canceled in January, out of 1,639 advertised for sale. The cancellation rate was 32.4 percent, compared with 35.57 percent in December.

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.  

The Florida Constitution established the independent office of the Clerk & Comptroller as a public trustee, responsible for safeguarding public records and public funds. Clerk Sharon Bock is directly elected by and accountable to Palm Beach County residents.  In addition to the roles of Clerk of the Circuit Court, County Recorder and Clerk of the Board of County Commissioners, the Clerk & Comptroller is the Chief Financial Officer, Treasurer and Auditor for Palm Beach County.

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