PropertyShark BlogCenter » Bronx foreclosures

Foreclosure Process Length Doubles in NYC; Brooklyn Sees Lowest Rate of Properties in Lis Pendens Ending Up at Auction

calin — Mon, 01 Aug 2011 13:12:24 +0000

The length of the foreclosure process has doubled in New York City over the past three or four years, an in-house study made by our data analysts showed. The average number of months it took for a delinquent mortgage to reach the final stage of the foreclosure process, that is to be scheduled for auction, was 24 in 2011. By comparison, the average number of months was 12 in 2006 and 2007, and 13 in 2008.

The value ranged between 20 months in Manhattan and 22 in Queens and Staten Island to 27 in the Bronx and 29 in Brooklyn.

Foreclosure Process Length in NY

The same study showed that the percentage of properties with a delinquent mortgage that reached the final stage of the foreclosure process seems to have decreased in the past couple of years.

20% of all properties that were hit in 2006 with a lis pendens were later scheduled for auction. In 2007, the number increased to 24%, to decline to just 15% a year later.

A break down by borough for the metric presented above shows that in Brooklyn a mere 3% of the properties hit with a lis pendens in 2008 have been scheduled for auction. Only 27% of those not scheduled for auction have been sold so far; the remaining of 73% have not changed their ownership.

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Bronx scheduled foreclosures up 79% in October 2010

Adriana — Mon, 22 Nov 2010 16:01:20 +0000

The Bronx had 34 new scheduled foreclosure auctions in October 2010. The current number increased 79% compared to same month in 2009 and was also up 48% compared to September 2010. With one in every 13,624 Bronx homes scheduled for auction, the borough had the third highest rate of foreclosure per household among the five boroughs.

Browse current Bronx Foreclosures.

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Bronx new scheduled foreclosure auctions decrease in Q3 2010

Adriana — Mon, 25 Oct 2010 21:30:57 +0000

In the third quarter of 2010 there were 61 properties scheduled for the first time for a foreclosure auction, down 18% from the same quarter in 2009. Together with Staten Island, the Bronx was one of only two boroughs in New York City that also registered a decrease in the number of new scheduled foreclosure auctions (41%) compared to the second quarter of the current year.

Browse current individual Bronx foreclosures.

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Bronx new scheduled foreclosure auctions decrease in August 2010

Adriana — Mon, 13 Sep 2010 13:59:35 +0000

With 16 properties scheduled for foreclosure auction for the first time in August 2010, Bronx saw a 27% decrease compared to both August 2009 and July 2010. With one in every 10,511 Bronx homes scheduled for auction, the borough has the third highest rate of foreclosure per household among the five boroughs.

Browse current individual Bronx foreclosures.

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Bronx new scheduled foreclosure auctions increase 275% in May 2010

Adriana — Thu, 17 Jun 2010 15:46:44 +0000

With 45 new scheduled foreclosure auctions in May 2010, the Bronx saw a 275% increase compared to May 2009 (12) and a 61% increase compared to April 2010 (28). Bronx zipcode 10466 (Williamsbridge, Baychester, Woodlawn, Wakefield and Eastchester) recorded NYC’s second highest number of scheduled foreclosures last month.

Browse current individual Bronx foreclosures.

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Bronx foreclosures level with July 2008 values

laura — Thu, 13 Aug 2009 14:36:02 +0000

There were 29 new foreclosure auctions in the Bronx in July 2009. This is down 12% from June 2009 and level with July 2008 values. With 9 new scheduled foreclosures, zip code 10466 (Williamsbridge, Baychester, Woodlawn, Wakefield) was in the top 15 for foreclosures in New York City. Click the Bronx interactive foreclosure map below to see the location of scheduled foreclosures for July 2009.

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New York City Foreclosures in Q2 2009 drop 7% from Q2 2008

brian — Mon, 06 Jul 2009 16:49:25 +0000

We just issued our New York City Foreclosure Report for Q2 2009 as well as interactive maps plotting each foreclosure (SEE Q2 Foreclosure Map for Queens)

Summary:
*New foreclosures in New York City (892) down 7% compared to Q2 2008 (962) and up 3% over Q1 2009 (869).
*Compared to Q2 2008, new foreclosures were down 57% in Brooklyn, down 39% in Manhattan and down 5% in The Bronx and Staten Island. Queens (up 9%) was the only borough recording an increase over the same time period.
*Compared to Q1 2009, new foreclosures dropped by 26% in the Bronx and decreased by 17% in Staten Island. Brooklyn recorded the highest increase, going up 92%, while foreclosures in Manhattan went up 35%, and Queens saw a 5% increase in new foreclosures.
*Queens had the highest rate of foreclosures per household in Q2 2009, with one in every 1,270 homes scheduled for auction, followed by Staten Island with one in every 1,435 homes scheduled for auction. The rate in Manhattan was the lowest, with one in every 31,826 homes scheduled for auction.
*Queens accounted for fourteen of the fifteen zip codes with the highest number of new foreclosures in Q2 2009.

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New Foreclosures in New York City increase 8% from April 2009

laura — Wed, 03 Jun 2009 11:25:15 +0000

- New York City foreclosures in the five boroughs decreased 9% from May 2008 (313) and increased 8% from April 2009 (263).
- Queens (209) continues to have the highest number of foreclosures among the five boroughs, comprising over 73% of foreclosures in New York City.
- Staten Island had 30 new foreclosures scheduled, 36% lower than both May 2008 and April 2009.
- New foreclosures in the Bronx totaled 17, decreasing 26% from April 2009, and decreasing 15% from May 2008.
- In Brooklyn, new foreclosures increased 62% from April 2009 and were down 62% from May 2008.
- There were 8 new foreclosures in Manhattan in May 2009, 43% less than in May 2008.

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New York City Foreclosures down 5% compared to Q1 2008

brian — Mon, 06 Apr 2009 14:45:58 +0000

PropertyShark.com just released our Q1 2009 Foreclosure Report. Here are the key takeaways for New York City:

-Foreclosures in New York City (869) were down 5% compared to Q1 2008 (918) and up 14% over Q4 2008 (764).
-Queens foreclosures comprised 66% of foreclosures in New York City.
-Brooklyn foreclosures dropped 74% compared to Q1 2008 and were down 55% from Q4 2008.
-Staten Island had the highest rate of foreclosures per household in Q1 2009, with one in every 1,187 homes scheduled for auction, followed by Queens with one in every 1,343 homes scheduled for auction. The rate in Manhattan was the lowest, with one for every 43,059 homes scheduled for auction.

NYC New Foreclosures

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