We just finished the Long Island Foreclosure Report for the second quarter of 2009 which covers scheduled foreclosure auctions in Nassau and Suffolk counties. The report can be found at http://www.propertyshark.com/mason/BlogCenter/marketreports.html

Overall Nassau and Suffolk headed in opposite directions, with Suffolk foreclosures spiking upwards to two-year highs.

Here is a summary:

New foreclosures in Long Island decreased 20% from Q1 2009 - Long Island foreclosures (757) were down 20% compared to Q1 2009 (944), and up 9% over Q2 2008 (696).

Nassau County new foreclosures decreased 58% from Q1 2009 – Compared to Q1 2009 (626), new foreclosures in Nassau County (265) went down 58%. Since Q2 2008 (393), new foreclosures declined by 33%.

New Foreclosures in Suffolk County reached two-year high in Q2 2009 - There were 492 new foreclosure auctions scheduled in Suffolk County during Q2 2009. This was up 62% compared to Q2 2008 (303), and up 55% from Q1 2009 (318).

High foreclosure rates in Bayshore, Central Islip and Brentwood - Bayshore had a rate of one in every 250 homes scheduled for auction, Central Islip had a rate of one in every 293 homes scheduled for auction, and one in every 340 homes in Brentwood was scheduled for auction.

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