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Cruising through Palm Beach County, FL with a quick distressed property update
Let’s take a city-by city tour of Palm Beach County and see when all of the distressed properties are located.
Some of the cities with elevated foreclosure levels as of August 1st are as follows:
- West Palm Beach – 4,149 houses and 1,257 condo/townhouse properties in some stage of foreclosure
- Lake Worth – 2,774 houses and 217 condo/townhouse properties in some stage of foreclosure
- Boca Raton – 2,604 houses and 812 condo/townhouse properties in some stage of foreclosure
- Boynton Beach – 2,221 houses and 455 condo/townhouse properties in some stage of foreclosure
- Delray Beach – 1,194 houses and 531 condo/townhouse properties in some stage of foreclosure
That list was just the top five cities. As of August 1, 2013, there were 18,305 houses and 4,087 condo/townhouse properties in some stage of foreclosure throughout Palm Beach County. You will notice from our next chart that the new foreclosure filings keep piling-on each month as well:
In July there were 1,278 new foreclosure filings on houses and 199 condo/townhouse filings in Palm Beach County. The monthly average was 914 for 2012 and so far in 2013 the monthly average of new foreclosure filings is 1,279. That is about a 40% year over year increase, and will most likely increase more throughout the year.