Here is the latest Market Update for Palm Beach County, FL, courtesy of The Realtor Association of The Palm Beaches.Whether you are considering buying or selling a home, I am here to assist.Please
Waiting On A Bank Foreclosure May Now Take Even Longer
The old days when you could purchase a Bank Foreclosure within a few months of the Lis Pendens (Notice of Default) seem to be long gone.
Check out this article from ATTOM Data Solutions in Bethesda, MD.
Average Fla. Foreclosure Timeline Soars
ORLANDO, Fla. – Jan. 23, 2018 – While foreclosures have dropped to pre-recession levels, a huge backlog is building due to longer processing times. The average time to foreclose jumped to more than 1,000 days nationwide in the fourth quarter of 2017 – a 14 percent increase from the previous quarter and a 28 percent increase from a year ago. It's the longest number of days to process a foreclosure since ATTOM Data Solutions, a real estate data firm, began tracking foreclosure timelines in the first quarter of 2007.
In Florida, it takes even longer for the foreclosure process to complete – an average of 1,493 days, or about 4.1 years. Florida's Orange County also makes the top-five list for county foreclosure times. In the area surrounding Orlando, a foreclosure averages 2,109 days to complete, or about 5.75 years.
States with the longest average times to foreclose in fourth quarter 2017
U.S. counties with the longest average times to foreclose in fourth quarter 2017
Source: ATTOM Data Solutions
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Considering buying or selling a home in Palm Beach County, FL?
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Keith Jeffrey / AKA Broker Keith
Broker Associate / United Realty Group
The real estate market in South Florida is constantly changing. Running my own "We Buy Houses" TV Commercials, being an REO Broker for 7 yrs, Valuating Homes for Numerous Banks & Asset Managers, Site ....
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The old days when you could purchase a Bank Foreclosure within a few months of the Lis Pendens (Notice of Default) seem to be long gone.Check out this article from ATTOM Data Solutions in Bethesda,