It is unknown just how many Delray Beach Foreclosures there are currently given that many vacant or abandoned properties have yet to even be foreclosed on by some lenders, in addition to the fact that many banks have shadow inventory of Delray Beach Foreclosures that may not come to market for some time. This shadow inventory creates an overhang and otherwise dark cloud over the Delray Beach Foreclosures market and Delray Beach Real Estate prices generally until inventory and values have stabilized. Furthermore, some Delray Beach short sales may become Delray Beach Foreclosures and there is simply no way to account for those numbers.
The slowdown in Delray Beach Foreclosures in 2010 and 2011 has been well documented and there are various reasons as to why that occurred – the most talked about of course was Robo-signing of Bank Foreclosures documents that was uncovered and which has led to various Banks suspending their foreclosure activity and Delray Beach foreclosures are no exception, understand their foreclosure process better so that they can identify the shortcomings and correct paperwork and process issues.
Inevitably however, Delray Beach Foreclosures have continued apace and although paperwork issues continue to rear their ugly head, the Delray Beach Real Estate market continues to be at the mercy of the foreclosure inventory overhanging the market. That being said, opportunities for the savvy real estate buyer abound, particularly with respect to Delray Beach Foreclosures.
As many of you will know from walking the downtown Delray Beach area, we have witnessed some unsurpassed construction activity in recent years with numerous urban lifestyle townhouse and condo developments populating Federal Highway and Atlantic Avenue for example. With the decline in Delray Beach real estate prices however, this over-building has inevitably led to large numbers of Delray Beach foreclosures in these same developments. Downtown Delray Beach Townhouses and Downtown Delray Beach Condos can now be had for as much as half of the new construction prices from just a few short years ago representing compelling Delray Beach foreclosures as an opportunity for the seasoned and savvy buyer.
Delray Beach Foreclosures and particularly those located in East Delray Beach close to the Ocean and the downtown nightlife and shopping areas will in all likelihood, prove themselves to be astute purchases in coming years as the Delray Beach real estate market continues to stabilize and return to normal levels – both in terms of inventory and price.
Our Delray Beach Realtors at Palm Beach Premier Real Estate also work with Banks and Asset Managers and are familiar with the processes and paperwork requirements involved with Delray Beach Foreclosures and Bank Owned properties in Delray Beach Florida. Having that experience and with our Delray Beach Realtors having detailed local knowledge positions Palm Beach Premier Real Estate and provides us with the leverage to meet our clients’ needs and goals.
Our Delray Beach Realtors are seasoned Real Estate Industry veterans with experience with both short sales and Delray Beach Foreclosures and our Delray Beach Foreclosure Division can assist Banks and Asset Managers with distressed property management, property preservation, re-keying, cash for keys, Broker Price Opinion valuations and transaction management and communication and more.
At Palm Beach Premier Real Estate all of our Delray Beach Realtors are equipped with the latest hardware and software technologies to make the buying, selling or managing functions highly efficient. From transaction management to Tablet PCs, smartphones to Cloud computing, our Delray Beach Realtors are well trained and equipped to meet the challenges that Delray Beach Foreclosures present and with the relevant experience and team leadership upon which to rely.
Our Delray Beach Realtors have worked with nearly every major high street bank and are familiar with the nuances and paperwork requirements.
If you are looking for a Delray Beach foreclosure or perhaps you are interested in waterfront foreclosures or oceanfront foreclosures then please give our Delray Beach Foreclosures division a call at 561.395.8418 or email us at Info@PalmBeachPremierRealEstate.com