CLERK & COMPTROLLER RELEASES NOVEMBER FORECLOSURE STATS
New cases down nearly 15 percent from October
WEST PALM BEACH, FLA. (December 12, 2012) – The number of new foreclosure filings decreased in November compared with the previous month, but increased slightly from the same time in 2011, according to the latest statistics from the Clerk & Comptroller’s office.
The 1,207 new foreclosures filed in November represent a 14.88-percent decrease from the 1,418 new foreclosures filed in October, but show a 0.25-percent increase from the 1,204 cases filed in November 2011.
The total of new foreclosures filed through November 2012 now stands at 14,264, which is 17.36 percent more than the 12,154 new cases filed in all of 2011.
“Since 2008, we’ve seen fewer foreclosures filed in November compared with October, with the number of new cases increasing again in December,” said Clerk Sharon Bock. “We’ll see whether that trend continues when our December numbers come out in January.”
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 4,343 deeds recorded in Palm Beach County during November, a 20.82-percent decrease from the 5,485 deeds recorded in October, and an 18.51-percent decrease from the 4,747 deeds recorded in November 2011.
There also were 2,866 mortgages recorded in November, a 23.76-percent decrease from the 3,759 mortgages recorded in October, but a 15.29-percent increase from the 2,486 mortgages recorded in November 2011.
Foreclosure Sales Results
There were 822 properties sold during November’s online foreclosure auctions, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 616 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, 206 were sold to a third party. One property did not sell at auction in November.
There were 432 sales cancelled in November, out of 1,255 advertised for sale. The cancellation rate was 34.42 percent, compared with 35.54 percent in October. The average cancellation rate is about 30 percent.
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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