Foreclosures: Housing defaults soar in Palm Beach County

From January to February of 2010, foreclosures increased 63% in Palm Beach County, and year over year they were up 68%.

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Smith Farm market activity report

 There are 20 homes currently on the market in Smith Farm as of 3/6/10.

• They range in price from $197k to $499K.
• The asking prices per sq ft range from $80/sq ft to $171/sq ft.
• The # of days on the market range from 8 to over 600
• Out of the 20, 8 are marketed as Short Sales
• 1 is a bank owned home.

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There are currently 14 homes with a pending contract

• Asking prices of these under contract homes range from $169k to $399k
• Asking price per sq ft range from $89/sq ft to $123/sq ft
• The days on the market range from 6 (for the $89/sq ft home) to 628 (the $399k home)
• 8 of the 14 homes are Short Sales
• 4 of the 14 homes are Bank Owned

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There have been 12 reported sales in the previous 90 days

• The sold prices range from $190k to $345k
• The sold price per sq ft ranged from $85/sq ft to $122/sq ft
• The 'average' sold price per sq ft is $105/sq ft
• The market time ranged from 13 days (the $85/sq ft home) to 303 days (the $122/sq ft home) 
• 6 of the 12 sold were Short Sales
• 2 of the 12 sold were Bank Owned

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