PropertyShark BlogCenter » staten island foreclosures

First time foreclosures reach 2-year low in New York City in Q3 2011

laura — Fri, 14 Oct 2011 15:01:32 +0000

“While foreclosure numbers are down, we do not think that this indicates an improving housing market. We believe the drop is due to increased legal pressure on the banks by the state and federal governments. As we enter a new recession, we expect homeowners to continue to have trouble making payments on mortgages that continue to far exceed the value of the underlying houses”, said Matthew Haines, Founder of PropetyShark.

There were 207 new scheduled foreclosure auctions in NYC in Q3 2011. The current number is down 33% compared to the previous quarter and down 69% compared to Q3 2010. Both Brooklyn and Manhattan recorded a 45% decrease over Q2 2011, Queens foreclosures were down 28%, Bronx down 26%, while Staten Island foreclosures remained level. Co-op foreclosures continued to comprise over 50% of the total number of first time foreclosures in NYC, however they recorded a 52% drop over Q2 2011.

Browse current New York foreclosures or foreclosure listings in New Jersey.

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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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Staten Island new scheduled foreclosure auctions down 36% in October

Adriana — Fri, 19 Nov 2010 20:47:49 +0000

With one in every 5,584 households scheduled for the first time for a foreclosure auction in October 2010, Staten Island is one of the two boroughs that declined in the number of new scheduled auctions. Twenty-eight properties were scheduled for auction, down 36% compared to the same month last year and down 26% compared to September 2010.

Browse current Staten Island Foreclosures.

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Staten Island foreclosures drop 10% in Q3 2010

Adriana — Fri, 29 Oct 2010 19:27:06 +0000

With 95 first-time scheduled foreclosure auctions in the third quarter of 2010, Staten Island saw a 10% decrease compared to both the same quarter in 2009 and the second quarter of 2010. Staten Island recorded the second highest number of new scheduled foreclosures, comprising over 14% of foreclosures in New York City (659).

Browse current Staten Island Foreclosures.

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Staten Island Foreclosures up 90% in August 2010

laura — Wed, 15 Sep 2010 08:22:10 +0000

One in every 6,746 households on Staten Island was scheduled for foreclosure auction for the first time in August 2010. The current number of first time foreclosures (38 properties) is up 90% from the previous month (20 properties) and up 111% from August 2009 (18 properties).

Browse current Staten Island Foreclosures.

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New Foreclosures down 15% in Staten Island in Q2 2010

laura — Fri, 06 Aug 2010 15:58:28 +0000

There were 105 new foreclosures in Staten Island in Q2 2010. The current number is down 15% from Q2 2009 (123) but up 5% from Q1 2010 (105). The foreclosure rate was one of the highest in the five boroughs with one in every 1,489 homes scheduled for auction in Q2 2010.

Browse current Staten Island Foreclosures.

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Staten Island new scheduled foreclosure auctions remain unchanged in May 2010

Adriana — Fri, 18 Jun 2010 18:42:48 +0000

Staten Island is third among the five boroughs of New York City in terms of the rate of foreclosure per household, with one in every 5,690 homes scheduled for auction. Properties scheduled for foreclosure auction for the first time totaled 29 in May 2010, unchanged from May 2009 values, and down 31% compared to April 2010.

Browse current individual Staten Island foreclosures.

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Staten Island foreclosures decline 28% from June 2008

brian — Fri, 07 Aug 2009 19:13:00 +0000

In July, Staten Island had 39 new foreclosure auctions scheduled. This is 28% less than in July 2008 but 3% more than in June 2009.

You can click on the map to drill down to the location of the property.

You can also view upcoming foreclosure listings in Staten Island for August.

In July 2009, Staten Island had one in every 4,231 scheduled for auction.

Staten Island zip codes 10303 (North Island) and 10314 (Mid Island) were in the top 15 zip codes for New York City foreclosures scheduled during the month.

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