Sharon Bock | Palm Beach County Foreclosures Up 27 Percent from 2011
CLERK & COMPTROLLER RELEASES DECEMBER, YEAR-END FORECLOSURE STATS
New cases up nearly 27 percent from 2011
WEST PALM BEACH, FLA. (January 16, 2013) – New foreclosure cases increased 26.86 percent in 2012 compared with 2011, marking the first year-over-year increase in foreclosure cases since 2009.
There were 15,419 new foreclosures filed in 2012, up from 12,154 cases filed in 2011.
While the total number of foreclosure cases increased in 2012, there was a decrease in cases filed from November to December. There were 1,155 new cases filed in December, down 4.31 percent from the 1,207 cases filed in November and down 5.25 percent from the 1,219 cases filed in December 2011.
“In 2012, we saw banks once again pursue foreclosure cases after slowing down in 2011,” Clerk Sharon Bock said. “I know that, for the first half of 2013, I’ll be watching to see what moves the state Legislature makes related to foreclosures and to funding for Florida’s Clerks, which process the thousands of foreclosure cases filed in the state’s courts each month.”
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 5,774 deeds recorded in Palm Beach County during December, a 32.95-percent increase from the 4,343 deeds recorded during November, and an 18.61-percent increase from the 4,868 deeds recorded in December 2011.
A total of 64,097 deeds were recorded in Palm Beach County throughout 2012, up 5.43 percent from 60,797 deeds recorded in 2011.
There also were 3,259 mortgages recorded in December, a 13.71-percent increase from 2,866 mortgages recorded in November, and a 27.3-percent increase from the 2,560 mortgages recorded in December 2011.
A total of 38,553 mortgages were recorded during 2012, up 36.09 percent from 28,329 mortgages recorded in 2011.
Foreclosure Sales Results
There were 623 properties sold during December’s online foreclosure auctions, according to statistics from Grant Street Group, the facilitator of ClerkAuction®. Of those, 488 were sold back to the plaintiff – typically a bank or mortgage company – in the foreclosure proceeding, and 135 were sold to a third party.
There were 344 sales cancelled in December, out of 967 advertised for sale. The cancellation rate was 35.57 percent, compared with 34.42 percent in November. The average cancellation rate for 2012 was 32.96 percent.
A total of 9,154 properties were sold at foreclosure auction in 2012, out of 13,667 advertised for sale.
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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