• Lisa Simpson
• Jan 23,2008
• In: Foreclosure

Pocket A Large Savings From Palm Beach County Foreclosures

The common American dream of owing a home is clubbed with Florida State where hundreds of miles of sandy beaches run across. Palm Beach County foreclosures now offer such an excellent opportunity. Earlier when the boom was enjoyed by real estate business when Palm Beach County foreclosures were unheard of, people had to pay hefty prices for acquisition of a reasonably well property in Palm Beach County. But not any more, because of Palm Beach County foreclosures.

With 47 miles of beautiful seashore and sandy beaches running along the eastern border of Atlantic Ocean, home buying from Palm Beach County foreclosures is a lucrative proposition as ideal location. Properties bought at prices well below the market values from Palm Beach County foreclosures in distress sale can be rented out for a steady monthly income or resale with a sizeable margin in the near future.

Buying homes from Palm Beach County foreclosures has one more reason. Nicknamed as the “Golf Capital of the World”, Palm Beach County has as many as 150 golf courses attracting tourists from all parts of the country. The properties bought from Palm Beach County foreclosures can be profitably made use of towards fulfilling the housing need of such a large crowd at attractive rentals.

Apart from the floating population, Palm Beach County, FL has an estimated residential population of 1.3 million as the second largest populated county of Florida State. The median house hold income is stated to be $53,000 and homes bought out of Palm Beach County foreclosures will fetch good rents by meeting the demand of such a big population. Savings of real money exist in Palm Beach County foreclosures lying in pre-foreclosure; actual foreclosure and after-foreclosure repossessed properties by banks and realtors. All the above three stages of Palm Beach County foreclosures offer different kinds and amounts of savings in their sale prices.

As of date there are 2,425 Palm Beach County foreclosures listed for sale in various stages. Comparing the total foreclosure listings of Florida – 172,020 Nos. available at an average price of $183,138, Palm Beach County foreclosures can be bought at this price of the State’s average. A minimum saving of 27% is indicated for Palm Beach County foreclosures that is equivalent to thousands of dollars.

For home buyers from Palm Beach County foreclosures for own occupation or as an investment, the above savings is there to be pocketed. In addition by acquiring a property from Palm Beach County foreclosures they are going to reap the benefits permanently in the years to come.