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Palm Beach County Foreclosure Listings

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Bank Foreclosures in Palm Beach

Palm Beach County is a beautiful area for vacations or for permanent residence. The now blossoming metropolis has come a long way from its days from being a pioneer village for animal trappers and fisherman in the late 19th century. But just like many other US counties, the recession had a significant impact on the housing market. As a result, the amount of property foreclosures increased dramatically. With a population of around 1.1 million, Palm Beach has their fair share of available foreclosure listings per capita for residents of all income levels. At present, the number of available Palm Beach foreclosure listings is just over 4,000 properties. Many are bank foreclosures up for auction starting as low as $100. The homes that aren't up for auction are listed in a reasonable price range. Many of these homes have been foreclosed upon by the same agencies that cater to lower income individuals who work with these types of persons to make home ownership possible.

The amount of foreclosed properties in this area makes this an affordable place to shop for a home. The average income for the county is right around $50,000. While the 11%+ decline in home values in the last year doesn't do a lot for the economy, this is an advantageous factor for potential home buyers. The median sales price for homes in the first few months of 2011 is $53,500. This is a great statistic for potential home buyers. This does however represent a 5 year decline in home values in Palm Beach County of nearly 96%. Currently home values are holding steady fluctuating in price by very small margins week to week.     

The latest projections show a slight growth in housing over the next 10 years or so. And despite the country's economic crisis, Palm Beach has maintained its stable economic health by a few indicators. Such indicators are a strong increase in employment, no state income tax and a low corporate tax structure. Palm Beach County has been sited a top area for building corporate wealth. These indicators have been measured in 5 year and 10 year growth projections as well as past economic performance.