We took a look at whether there are other potential deals coming up at the foreclosure auction in Long Island and the Hamptons. To do this, we searched for distressed properties scheduled for auction which are also listed for sale, and having a lien amount lower than the listings asking price. We found several of them.

1. 14 North Ridge Road, Setauket

Listing Price: $3,590,000
Lien Amount: $1,498,928

This 6 bedroom home is listed for sale with an asking price of $3,590,000, down from its original asking price of $4,375,000. It avoided a foreclosure sale in June 2010, but it is now re-scheduled for auction.

14 N Ridge Road

2. 15 Deer Ridge Trail, Water Mill

Asking Price: $2,250,000
Lien Amount: $1,740,942

This 4 bedroom Water Mill home seems to be another property linked to Donald Macpherson, one of the participants in the alleged $50 million mortgage fraud scheme.  It’s been on the market since March 2009 and has been scheduled for auction with a lien amount of $1.7 million.

15 Deer Ridge Trail

3. 91 Walker Street, Malverne

Asking Price: $749,990
Lien Amount: $427,977

This property was first scheduled for auction in 2008 and has since been re-scheduled six times. It’s been on the market for less than a month and it is asking $749,990.

91 Walker Street

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• New Long Island foreclosure listings increased 3% in July 2009 (202) from July 2008 (197), with Nassau County down 61% and Suffolk County up 105%.
• Compared to June 2009 (305), new foreclosures were down 48% in Nassau County and down 27% in Suffolk County, for an overall decrease of 34% in Long Island.
• The rate of scheduled Long Island foreclosure auctions per household decreased in July 2009 from the previous month, with one in every 4,538 homes scheduled for auction. In comparison, June 2009 recorded one in every 3,006 homes scheduled for a foreclosure auction.

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There were 103 new Nassau County foreclosure auctions scheduled in November 2008, a 51% decrease from October 2008, but a 51% increase from November 2007. The total aggregate lien amount dropped over 50% from $89.2 million in October 2008, to $40 million in November 2008.

Foreclosures in Suffolk County were down 9% from October 2008, yet despite the monthly decrease, the foreclosure level was still 24% higher than in November 2007.

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• The Q208 Investment Property Report: Compared to Q2 2007, all three regions studied (New York City, Los Angeles, San Francisco saw major setbacks in the number of sales. New York City, down 29.4%,
  experienced the steepest decline among the three areas. In Q2 2008, New YorkCity saw the lowest value for closed multifamily building transactions over a two year time period, while in California the two counties saw a slight increase from Q1 2008, at which time both regions experienced two-year lows. View the full report: Q208 Investment Property Report
• The Four City August Foreclosure Report: New York City Foreclosures reach three-year highs; Los Angeles, Miami, Seattle all up: Foreclosures in New York City (383) reached the highest value since we started tracking foreclosures (spring of 2005), predominantly due to Queens. Los Angeles (up 159%), Miami (up 72%), and Seattle (up 27%) have seen a significant increase new foreclosures compared to
  August 2007. However, all three regions saw a slight decrease compared to July 2008. View the full report: Four City August Foreclosure Report

Foreclosures in Los Angeles, Miami, New York City, Seattle

• The Long Island August Foreclosure Report: Long Island foreclosures in August remain higher than last year: The number of new foreclosures in Long Island was 32% higher than in August 2007. Suffolk County was up 19%, while Nassau County recorded a 41% increase over the same time period. While Long Island foreclosures remain higher than August 2007, August 2008 is the third consecutive month of declines in first time foreclosures for the region. View the full report: Long Island August Foreclosure Report
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