New York, NY, February 11, 2009 – PropertyShark.com, the premier real estate data site, today released its monthly report covering first-time residential foreclosures in Los Angeles, Miami, Seattle and New York City for January 2009.

(Note: This report covers January 09 in aggregate. To view individual foreclosure listings in an area, go to http://www.propertyshark.com/mason/Foreclosures/new_york/)

Key Report Findings

• New foreclosures in Los Angeles down 49% from December 2008 and down 33% from January 2008: New foreclosures in Los Angeles recorded a significant decrease in January 2009 (2,605), down 49% compared to December 2008 (5,104) and down 33% compared to January 2008 (3,881).
• New foreclosures in Miami, up 58% from December 2008, reaching a two-year peak in January 2009: The number of new foreclosures reached a two-year peak in Miami in January 2009, with the current number (1,188) 49% higher than one year ago (795). Compared to the previous month (750), the number of new foreclosures increased by 58%.
• New York City foreclosures up 64% from December 2008 and up 5% from January 2008: New foreclosures in New York City (all five boroughs) increased 64% from December 2008 (170) and were up 5% from January 2008 (266).
• New foreclosures in Seattle (104) spiked 300% from December 2008: There were 104 new foreclosures in Seattle in January 2009. The current number was up 300% from December 2008, but was down 42% compared to January 2008.

Real estate investors can browse current foreclosure listings for the following areas:

• Miami Foreclosures
• New Jersey Foreclosures
• NYC Foreclosures
• Philadelphia Foreclosures
• San Francisco Foreclosures
• Seattle Foreclosures

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With over 25 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property values and comparable sales, sophisticated maps, listings, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

Los Angeles, California, January 12, 2009 – PropertyShark.com, the premier real estate data site, today released its quarterly report covering first-time residential foreclosures in Los Angeles, Miami, Seattle and New York City for the fourth quarter of 2008.

(Note: This report covers November 08 in aggregate. To view individual foreclosure listings in an area, go to http://www.propertyshark.com/mason/Foreclosures/new_york/)

Key Report Findings

• Los Angeles foreclosures jump 69% over Q4 2007, but drop 29% from Q3 2008: New foreclosures in Los Angeles decreased 29% in Q4 2008 (11,232 new foreclosure auctions) compared to Q3 2008 (15,763), predominately due to the foreclosure state law that went into effect in September 2008. However, the number of new foreclosures was extremely high in December 2008, 110% higher than in October 2008, when the initial effects of the law were seen.

“In Los Angeles, the 110% increase in new foreclosure auctions in December over October is troubling,” stated Bill Staniford, CEO of PropertyShark.com. “Typically we see a slowdown at the end of the year due to the holidays and instead we see spike upwards.”

• Miami foreclosures increase by 18% over Q4 2007, but drop 10% from Q3 2008: In Q4 2008, foreclosures in Miami continued to drop, with new foreclosures (2,290) 10% lower compared to Q3 2008, but still 18% higher compared to Q4 2007.
• Seattle foreclosures drop 12% from Q4 2007 and 37% from Q3 2008: Seattle had 318 new scheduled foreclosure auctions in Q4 2008, down 37% from Q3 2008, and down 12% from Q4 2007.
• New York City foreclosures up 25% over Q4 2007, but drop 32% from Q3 2008: In Q4 2008, new foreclosures in New York City dropped to the lowest level of the year. The current number (764) was down 32% from Q3 2008, but was still up 25% compared to the same quarter last year (611).
• Foreclosures in Queens jumped 84% in comparison to Q4 2007, while other boroughs decreased: The largest decline in foreclosures occurred in the Bronx (down 53%), followed by Brooklyn (down 23%) and Manhattan (down 19%).
• The number of investors buying properties at auction increased in Queens: Twenty-three percent (23%) of properties auctioned in Queens in Q4 2008 were bought by independent buyers, compared to only 16% sold to independent buyers in Q3 2008, with the rest going back to the lender.

“While the state foreclosure law and the winter holidays helped New York City foreclosures drop to their lowest quarterly level of the year, the fourth quarter of 2008 jumped 25% compared to the same quarter last year” stated Staniford. “Beyond foreclosures, we are also seeing the inventory of New York City property for sale rise to decade high levels.”

Real estate investors can browse current foreclosure listings for the following areas:

• Miami Foreclosures
• New Jersey Foreclosures
• NYC Foreclosures
• San Francisco Foreclosures
• Seattle Foreclosures

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With over 25 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property values and comparable sales,  property tax, sophisticated maps, listings, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

Jersey City, NJ, December 18, 2008 – PropertyShark.com, the premier real estate data site, today released its monthly report covering first-time residential foreclosures in New Jersey for November 2008.

Key Report Findings

• New Jersey Foreclosures drop 20% in November 2008: There were 626 new foreclosures in New Jersey in November 2008, down 20% compared to October 2008 (785), and down 4% compared to November 2007 (655).
• Cities in Passaic and Union counties had the highest number of foreclosures: Passaic County and Union County each had three cities listed in the top ten for the highest number of foreclosures scheduled in New Jersey, with Paterson on top of the list, followed closely by Elizabeth.
• Union, Bergen, Passaic and Monmouth counties top the list of new foreclosures: Despite a 5% decrease from October 2008, Union County (74) had the highest number of foreclosures scheduled in November 2008, followed closely by Bergen County (73), Passaic County (60) and Monmouth County (57). However, there were only 3 newly scheduled foreclosures in Hunterdon County, 6 in Salem County, and 10 in Somerset County from the same period.
• Sussex County had the highest rate of foreclosures per household: Sussex County had the highest rate of foreclosures per household among the counties of New Jersey, with one in every 2,311 homes scheduled for a foreclosure auction. This is almost two-times higher than the overall rate in New Jersey.

New Jersey Overview

• New foreclosure auctions: There were 626 new foreclosures scheduled for auction in New Jersey in November 2008, down 20% compared to October 2008 (785), and down 4% compared to November 2007 (655).
• Overview of Cities: Passaic County and Union County each had three cities listed in the top ten for the highest number of foreclosures scheduled in New Jersey, with Paterson on top of the list, followed closely by Elizabeth. Plainfield and Linden had the highest rate of foreclosures per household, with one in every 1,618 homes scheduled for auction in Plainfield, and one in every 1,730 homes scheduled for auction in Linden.

Overview of New Jersey Counties

• New foreclosure auctions: Despite a 5% decrease from October 2008, Union County (74) had the highest number of foreclosures scheduled in November 2008, followed by Bergen County (73), Passaic County (60) and Monmouth County (57). However, there were only 3 newly scheduled foreclosures in Hunterdon County, 6 in Salem County, and 10 in Somerset County from the same period.
• Foreclosure rate per household: Sussex County had the highest rate of foreclosures per household with one in every 2,311 homes scheduled for auction, followed by Union County with one in every 2,647 homes scheduled for auction, and Passaic County with one in every 2,859 homes scheduled for auction.

Press may request a copy of the report by contacting Brian Scully at 718.408.4985 or visiting PropertyShark BlogCenter www.propertyshark.com/mason/BlogCenter/marketreports.html

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With over 25 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property values and comparable sales, sophisticated maps, listings, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

Hempstead, NY, December 18, 2008 – PropertyShark.com, the premier real estate data site, today released its monthly report covering first-time residential foreclosures in Long Island (Suffolk County, Nassau County) for November 2008.

(Note: This report covers November 08 in aggregate. To view individual Long Island foreclosure listings scheduled for auction this week, go to http://www.propertyshark.com/mason/Foreclosures/new_york/)

Key Report Findings

• Long Island foreclosures down 37% from October 2008: There was a 37% decrease in Long Island foreclosures in November 2008 (196 scheduled foreclosures) from the previous month (311 scheduled foreclosures). However, compared to November 2007, foreclosures are still 37% higher.
• Nassau County foreclosures fall by half in November 2008: 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.
• Suffolk County foreclosures down 9% from October 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.
• Long Island lis pendens dropped 72% in October 2008: Long Island lis pendens dropped 72% in October 2008 from October 2007, down 79% in Suffolk County and down 60% in Nassau County. (Note: they track lis pendens one month behind foreclosures in order to get comprehensive data)
• Hampton’s foreclosures remain extremely rare.

“While we saw a 51% decline in first time foreclosures from October 2008, this was likely impacted by the fact that Nassau auctions are held on Tuesdays, and the presidential election this year was on a Tuesday,” stated Bill Staniford, CEO PropertyShark.com

Nassau County Foreclosures

• 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 Town of Hempstead recorded a decrease in the number of newly scheduled foreclosure auctions of 50% in November 2008 when compared to the previous month.

Suffolk County Foreclosures

• There were 93 foreclosures in Suffolk County in November 2008, down9% from October 2008 but 24% higher than in November 2007.

Press may request a copy of the report by contacting Brian Scully at 718.408.4985 or visiting PropertyShark BlogCenter .

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With over 25 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property values and comparable sales, sophisticated maps, listings, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

New York, NY, December 09, 2008 – PropertyShark.com, the premier real estate data site, today released its monthly report covering first-time residential foreclosures in Los Angeles, Miami, Seattle and New York City for November 2008.

Summary (Request report for details and charts):

“With a 54% jump in Los Angeles foreclosures from October, the California foreclosure law that went into effect in September seems to only have delayed the problem by 30 days. The problem needs reconstructive surgery, not aspirin”, stated Bill Staniford, CEO of PropertyShark.com

“Overall, New York City foreclosures declined nicely for the second month in a row, including the trouble spots in Queens. This may be temporary though given the artificial delays in foreclosure filings due to the September New York State law”, stated Bill Staniford, CEO of PropertyShark.com.

Real estate investors can browse current foreclosure listings for the following areas:

• Miami Foreclosures
• New Jersey Foreclosures
• NYC Foreclosures
• San Francisco Foreclosures
• Seattle Foreclosures

Press may request a copy of the report by contacting Brian Scully at 718.408.4985 or visiting PropertyShark BlogCenter .

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With over 25 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property tax, sophisticated maps, retail spaces, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

Hempstead, NY, November 18, 2008 – PropertyShark.com, the premier real estate data site, today released its monthly report covering first-time residential foreclosures in Long Island (Suffolk County, Nassau County) for October 2008.

(Note: This report covers October 08 in aggregate. To view individual Long Island foreclosure listings scheduled for auction this week, go to http://www.propertyshark.com/mason/Foreclosures/new_york/)

Key Report Findings

• Long Island foreclosures drop 8% from September 2008, but up 41% from October 2007: The number of new foreclosures in Long Island is 41% higher than in October 2007, however compared to September 2008, foreclosures dropped by 8%. Suffolk County was up 23% compared to October 2007, while Nassau County recorded a 51% increase over the same time period.
• Uniondale, West Hempstead and Hempstead Village are Nassau County’s trouble spots: The foreclosure per household rate was very high in these villages, with one in every 500 homes scheduled for an October auction in Uniondale, one in every 602 homes scheduled for an October auction in West Hempstead, and one in every 608 homes scheduled for an October auction in Hempstead Village.
• High foreclosure rates in the Suffolk County towns of Brookhaven and Babylon: Brookhaven and Babylon accounted for more than half of the foreclosures in Suffolk County. Within these towns, the top three villages with the highest number of foreclosures and the highest rates were Wyandanch, with one in every 347 homes scheduled for auction in October, followed by Amityville with one in every 447 homes scheduled for auction in October, and Shirley with one in every 972 homes scheduled for auction in October.
• Long Island lis pendens drop drastically in September 2008: The number of lis pendens decreased by 66% in Suffolk County and 69% in Nassau County from August 2008 to September 2008, for a 68% overall decrease on Long Island. Compared to September 2007, lis pendens are 63% lower in Long Island. (Note: they report lis pendens one month behind foreclosure auctions so these are September numbers.)
• Hamptons Foreclosures were extremely minimal again in October 2008.

“Fortunately, Nassau County first time foreclosures dropped from the near term highs set in September, but the county is still up 51% over October 2007,” stated Bill Staniford, CEO PropertyShark.com

Nassau County Foreclosures

• Compared to October 2007, Nassau County recorded a 51% increase in the number of new foreclosures in October 2008.
• However, compared to September 2008, Nassau County saw an 18% decrease. Despite a small decrease from last month, the Town of Hempstead (151) continues to account for most of the foreclosure activity in Nassau County. The top five villages for first time foreclosures are all located in the Town of Hempstead. The foreclosure per household rate was very high in these villages, with one in every 500 homes scheduled for auction in Uniondale, one in every 602 homes scheduled for auction in West Hempstead, and one in every 608 homes scheduled for auction in Hempstead Village.

Suffolk County Foreclosures

• Suffolk County new foreclosure auctions increased by 20% over September 2008 and by 23% over October 2007 (83). The towns of Brookhaven and Babylon accounted for more than half of the new foreclosures in Suffolk County. Within these towns, the top villages for foreclosures per household were Wyandanch, with one in every 347 homes scheduled for auction in October, followed by Amityville, with one in every 447 homes, and Shirley, with one in every 972 homes scheduled for auction in October.

Long Island Lis Pendens (September)

• In September 2008, the number of lis pendens decreased 66% in Suffolk County and 69% in Nassau County from August 2008, representing a 68% overall decrease in Long Island. In comparison to September 2007, Nassau County was down 58%, and Suffolk County was down 66%. Long Island, with 339 lis pendens, recorded a 63% decrease.

“While the 68% decrease in Long Island lis pendens may at first glance appear promising, it can be largely attributed to the recent New York state law requiring lenders to notify the homeowner 90 days before filing a lis pendens, and may have just tabled the problem until 2009,” stated Mr. Staniford

Press may request a copy of the report by contacting Brian Scully at 718.408.4985 or visiting PropertyShark BlogCenter .

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With over 25 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property values and comparable sales, sophisticated maps, listings, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

New York, NY, November 17, 2008 – PropertyShark.com, the premier real estate data site, today released its monthly report covering first-time residential foreclosures in Los Angeles, Miami, Seattle and New York City for October 2008.

Summary (Request report for details and charts):

“The new California state law requiring lenders to contact homeowners before filing foreclosures has had an immediate impact. First time foreclosures dropped 51% from September 2008”, stated Ashleigh Rose Clark, Data Acquisition Manager at PropertyShark.com

“Overall, New York City foreclosures have remained at very low rates. Manhattan has had virtually no foreclosure activity, and even Staten Island, the borough with the highest rate per household, is 2.5 times less than the rate in Los Angeles and 3.4 times less than Miami”, stated Bill Staniford, CEO of PropertyShark.com.

Real estate investors can browse current foreclosure listings for the following areas:

• Miami Foreclosures
• New Jersey Foreclosures
• NYC Foreclosures
• San Francisco Foreclosures
• Seattle Foreclosures

Press may request a copy of the report by contacting Brian Scully at 718.408.4985 or visiting PropertyShark BlogCenter .

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With over 25 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property values and comparable sales,  titled documents, sophisticated maps, listings, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

Hempstead, NY, October 15, 2008 – PropertyShark.com, the premier real estate data site, today released its quarterly report covering first-time residential foreclosures in Long Island (Suffolk County, Nassau County) for the third quarter of 2008.

(Note: This report covers Q3 08 in aggregate. To view individual Long Island foreclosure listings scheduled for auction this week, go to http://www.propertyshark.com/mason/Foreclosures/new_york/)

Key Report Findings

• Foreclosures in Long Island reached a two-year high in the third quarter of 2008: There were 716 new Long Island auctions scheduled in the third quarter of 2008, 37% higher than the number recorded in Q3 2007 (521).
• In Q3 2008, Nassau County foreclosures reached the highest value in the past two-years: The number of newly scheduled auctions in Nassau County rose 25% from Q2 2008 (393), and was 44% higher than in Q3 2007 (341). This set a two-year high with 492 new foreclosures.
• Foreclosures unevenly spread in Nassau County: There is a high discrepancy in the foreclosure rate per household among the Nassau County communities. Villages like Roosevelt, with one new foreclosure in every 119 households, and Westbury, with one new foreclosure in every 140 households, have a foreclosure rate per household that is over seven times higher than the county’s average rate.
• Investors reluctant to buy foreclosures at auction: 89.9% of the properties that went to auction in the third quarter of 2008 in Nassau County went back to the lender. Independent buyers bought only 34 of the 336 foreclosed properties that went to auction.

“Investors are showing almost no interest in buying foreclosures at auction in Nassau County. Of the 336 houses sold at an auction in Q3 2008, 89.9% went back to a bank,” stated Bill Staniford, CEO PropertyShark.com

Nassau County Foreclosures: The number of newly scheduled auctions in Nassau County rose 25% from Q2 2008 (393), and was 44% higher than in Q3 2007 (341). This set a two-year high with 492 new foreclosures. There is a high discrepancy in the foreclosure rate per household among the Nassau County communities. Villages like Roosevelt, with one new foreclosure in every 119 households, and Westbury, with one new foreclosure in every 140 households, have a foreclosure rate per household that is over seven times higher than the county average.

Suffolk County Foreclosures: There were 224 first time foreclosure auctions scheduled in Suffolk County during Q3 2008, down 26% from Q2 2008 (302), but up 24% from Q3 2007 (180). Brookhaven (113) had the highest number of foreclosures among the towns of Suffolk County in Q3 2008, followed by Islip (49), and Babylon (35). There were very few Hampton’s Foreclosures.

Press may request a copy of the report by contacting Brian Scully at 718.408.4985 or visiting PropertyShark BlogCenter .

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With over 25 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property values and comparable sales, sophisticated maps, listings, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

Los Angeles, CA, October 07, 2008 – PropertyShark.com, the premier real estate data site, today released its quarterly report covering first-time residential foreclosures in Los Angeles, Miami, Seattle and New York City for the third quarter of 2008.

Key Four-City Findings (Request report for details and charts):

• Los Angeles foreclosures triple; two-year highs in New York City, Los Angeles, Seattle: All four regions studied saw a significant increase in the number of new foreclosures compared to Q3 2007. Los Angeles was on top with foreclosures escalating up 196%, Seattle up 100%, New York City foreclosures up 60% and Miami up 58%.
• Foreclosures jump from last quarter, except in Miami: All regions, except Miami-Dade (down 5%), experienced an increase in the number of new foreclosures in Q3 2008 from Q2 2008. New York City had the highest increase (16%), followed by Los Angeles (up 9%), and Seattle (up 2%).
• Manhattan foreclosure auctions remain virtually nonexistent: Manhattan foreclosure auctions continue to be extremely rare, with only 35 scheduled for the quarter and most of those being worked out pre-auction. The foreclosure rate per household in Manhattan is a miniscule .005% for Q3 08. Compare this to .50% in Los Angeles County or .33% in Miami.
• Queens and Staten Island responsible for the foreclosure increase in New York City: Over the last quarter, Staten Island had a 44% increase and Queens increased by 19%. Compared to Q3 2007, the situation is worse, with Queens up 100% and Staten Island up 96%.
• Extremely high rate of foreclosures per household in parts of Los Angeles: In Los Angeles, zip codes from Palmdale/Lancaster, as well as the San Fernando Valley District of Sylmar, continue to top the list. The foreclosure rate per household remains high in these areas with one in every 45 homes in foreclosure in 93550, and one in every 46 homes in foreclosure in 93535.

“Incredibly, Manhattan has not been impacted by foreclosures whatsoever. Less than 20 properties even made it to auction in the last year, as almost every Manhattan property in distress was resolved in some way before the auction,” stated Bill Staniford, CEO of PropertyShark.com.

Real estate investors can browse current foreclosure listings for the following areas:

• Miami Foreclosures
• New Jersey Foreclosures
• NYC Foreclosures
• San Francisco Foreclosures
• Seattle Foreclosures

Press may request a copy of the report by contacting Brian Scully at 718.408.4985 or visiting PropertyShark BlogCenter .

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With over 25 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property values and comparable sales,  property tax, sophisticated maps, listings, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

Los Angeles, CA, September 06, 2008 – PropertyShark.com, the premier real estate data site, today released its monthly report covering first-time residential foreclosures in Los Angeles, Miami, Seattle and New York City for August 2008.

Key Four-City Findings (Request report for details and charts):

• 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 in new foreclosures compared to August 2007. However, all three regions saw a slight decrease compared to July 2008.
• 73% of Queen’s foreclosure auctions were unsuccessful: From July 2007 to July 2008, 73% of Queen’s foreclosure auctions were unsuccessful and went back to the lender. Out of the 73%, almost ¾ have still not been resold and are still in the lender’s possession.
• Los Angeles zip codes in the San Fernando Valley crack the top 5: Of the top 15 zip codes for trustee sales in Los Angeles, zip codes in the San Fernando Valley cracked the top 5, breaking the stranglehold that Lancaster and Palmdale had on the top zip codes for trustee sales.
• Foreclosed owners in Los Angeles paid almost twice current values: Owners of Los Angeles properties facing trustee sales in August originally paid almost twice what similar properties sold for in July of this year. For example: Zip code 93535 (paid on average $303,088, now selling for average of $152,614), zip code 93534 (paid $303,733, now $153,584), zip code 91342 (paid $520,519, now $326,798), zip code 93550 (paid $329,585, now $171,837).

“Over the last year, a staggering 73% of properties at foreclosure auctions in Queens went back to the lender, and almost 75% of those properties have still not sold on the open market,”, stated Bill Staniford, CEO of PropertyShark.com.

Los Angeles County

• Trustee Sales: The number of new Los Angeles foreclosures dropped 18% in August 2008 compared to the previous month. Despite the monthly improvement, the number is 159% higher than in August 2007.
• Los Angeles Trouble Spots: San Fernando Valley zip codes in Sylmar and Pacoima took the 3rd and 4th spot for new trustee sales this month, breaking the stranglehold the Antelope Valley (Palmdale/Lancaster) had on the top 5 zip codes for Los Angeles foreclosures.

“Compared to what the average property is currently being sold for, many people facing foreclosure paid almost double the price for their homes in the same Los Angeles neighborhoods.”, stated Ashleigh Rose Clark, Data Acquisition Manager at PropertyShark.com

Miami Dade County

• Foreclosure Auctions: There were 994 residential foreclosure auctions scheduled in Miami-Dade County during August 2008. This is a decrease of 10% from July 2008, but 72% higher than August 2007.

Seattle (King County)

• In August 2008, there were 175 new residential trustee sales scheduled in Seattle (King County), a 9% decrease from July 2008 (193), but a 27% increase from August 2007.

New York City (five boroughs)

• New Foreclosure Auctions: Foreclosures in New York City continued to grow this month, reaching the highest value since we started to track foreclosures in the spring of 2005. The current number is 13% higher than last month (338), and 53% higher than in August 2007 (250).
• Boroughs Overview: In obvious contrast to the other four boroughs, each experiencing a decrease, Queens stood alone recording a large increase in August 2008 compared to July 2008. The current number (254) is up 113% from August 2007, and up 43% from July 2008, setting a two-year high for Queens. All the other boroughs experienced an improvement in the number of new foreclosures compared to July 2008. Brooklyn was down 29%, Manhattan by 21%, the Bronx by 17%, and Staten Island down 9%.

Real estate investors can browse current foreclosure listings for the following areas:

• Miami Foreclosures
• New Jersey Foreclosures
• NYC Foreclosures
• San Francisco Foreclosures
• Seattle Foreclosures

Press may request a copy of the report by contacting Brian Scully at 718.408.4985 or visiting PropertyShark BlogCenter

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With over 25 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, title documents, recent sales prices, property values and comparable sales, property tax, sophisticated maps, listings, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com