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

New York City, September 05, 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 August 2008.

Key Findings (Request report for details and charts):

• 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..
• Third consecutive month of improvement: 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.
• The Town of Hempstead continues to show most of Nassau County’s foreclosure activity: In August 2008 the Town of Hempstead had the highest foreclosure/household rate, with one in every 2,500 houses in foreclosure, two times higher than Town of Oyster Bay and Glen Cove and four times higher than Town of North Hempstead.
• Brookhaven accounts for more than half of new foreclosures in Suffolk County: In August 2008, Brookhaven, with 34 new foreclosures, accounted for more than half of the foreclosures in Suffolk County. Islip (16) followed and accounted for 25% of the new foreclosures.

“Although this is the third consecutive month of declines in Long Island foreclosures, first time foreclosures are still 32% higher than a year ago,” stated Bill Staniford, CEO PropertyShark.com

Nassau County Overview

• Foreclosure Auctions: Compared to August 2007, Nassau County recorded a 41% increase in the number of new foreclosures in August 2008. However, compared to July 2008, Nassau County saw a 3% decrease. Single family homes located predominantly in the Town of Hempstead, were the most common property type scheduled for auction in August 2008.
• Town Overview: Despite a small decrease from last month, the Town of Hempstead (89) continues to show most of Nassau County foreclosure activity, followed by the Town of Oyster Bay (16), which recorded a 45% increase from the previous month.

Suffolk County

• Foreclosure Auctions: Suffolk County recorded a decrease in the number of new foreclosures form July 2008. The current number (64) is down 15% from the previous month (75), but up 19% from August 2007 (54). In August 2008, Brookhaven, with 35 new foreclosures, accounted for more than half of the foreclosures in Suffolk County. Islip (16) followed and accounted for 25% of the new foreclosures.

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, 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 City, August 26th, 2008 – PropertyShark.com, the premier real estate data website, today released its quarterly investment property report covering multifamily property sales in New York City, Los Angeles, and San Francisco for the second quarter of 2008.

“The correction in the multifamily investment property market seems to have hit hard in Los Angeles, with median sale price and median price per square foot down 30.4% and 22.1% respectively over the same quarter last year” stated Bill Staniford, CEO of PropertyShark.com.

Key high Level Findings:

• Major setback in number of sales – Compared to Q2 2007, all three regions 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 York City 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.
• New York City prices revert back to 2006 levels – All price indicators continued their downward trend with the median sale price, down 7.7%, and the median price per square foot, down 4.7%, compared to Q2 2007. The current levels are similar to those in Q2 2006, their lowest point in the past two-years.
• Almost half of Los Angeles transactions were distressed sales – Properties in distress (foreclosures and pre-foreclosures) represented more than 45% of all multifamily home sales in Los Angeles County, a huge jump from the 11% distressed sale rate from Q2 2007. Despite an increase from the first quarter of 2008, the number of closed transactions was down 16% from the same quarter last year and down 43% from it’s peak level in Q2 2006.
• San Francisco and Los Angeles see a substantial price decline – Both California counties saw significant price declines, well below their previous two-year record lows. Compared to the second quarter of 2007, the median sale price fell 30.4% in Los Angeles and 15.3% in San Francisco. The median sale price per unit fell 24.7% in Los Angeles, and 13.9% in San Francisco, compared to the same time period of Q2 2007..

PropertyShark.com issues the quarterly Investment Property Report to provide real estate investors with quantitative market insight about multifamily buildings, defined as Two Family Dwellings, Three Family Dwellings, Four Family Dwellings, Five or More Family Dwellings, and Mixed Use Properties. It does not include single family homes, coop or condo units, or other commercial or industrial buildings. Full report available at: www.propertyshark.com/mason/BlogCenter/index.html

San Francisco Multifamily Properties:

• SF Transactions drop: The number of closed transactions in the multifamily sector was down 16.4% compared to Q2 2007.
• Two Year Lows in San Francisco: The median price per square foot in San Francisco was $290, down 3.6% from Q1 2008, and down 11.9% from Q2 2007. The median price paid per unit was $300,000 in Q2 2008, down 5.2% from Q1 2008, and down 13.9% from Q2 2007.

Los Angeles Multifamily Properties:

• Transactions increase over Q1 2008: The Los Angeles multifamily market experienced three consecutive quarters of declines in the number of closed transactions until this quarter, when sales transactions increased by 32% compared to the first quarter of 2008. However, in comparison to Q2 2007, the number of sales declined by 16%.
• Distressed multifamily properties drive sales: The rebound in the number of sales can be partially explained by dynamics in the foreclosure sector, with distressed properties in Q1 and Q2 2008, accounting for more than 45% of the total number of sales (29% trustee sales and 16% notices of default).
• All price indicators down: Median price per square foot (down 22%), median price per unit (down 25%) and median sale price (down 30%) all decreased by a large rate compared to the same quarter last year, reaching a two-year low.

NYC Multifamily Properties:

• All price indicators down: Median price per square foot (down 22%), median price per unit (down 25%) and median sale price (down 30%) all decreased by a large rate compared to the same quarter last year, reaching a two-year low.
• The number of closed sale transactions was at or near two year lows in Queens and Brooklyn for the second quarter of 2008 across 2-4 Family Buildings, 5+ Family Buildings, and Mixed Use Buildings.
• Prices stay up in Manhattan: Although the number of transactions plunged 51.1% in comparison to Q2 2007, the median price per square foot reached a two-year high in Manhattan this quarter for deals that did get done. Sales crossed the $1000 price per square foot threshold for the first time in the two-family, three-family, and four-family building classes in Manhattan.

“The tightened conditions for a commercial loan revealed their adverse effects on larger investments in The Bronx, manifesting in a 55% drop in five or more family building sales compared to the second quarter of 2007” stated Radu Farcas of the Comparables Product Team at PropertyShark.com.

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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, apartments for sale, 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

New York City, May 7th, 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 July 2008.

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

• Foreclosures increase in all four regions; LA and Miami reach two-year highs :Compared to July 2007, the Los Angeles foreclosure rate was on top with a 249% increase, followed by Seattle with 156%, Miami up 137%, and New York City up 67%..
• One in every 526 LA County homes scheduled in July :In Los Angeles, one in every 526 homes was scheduled for a first time foreclosure auction in July 2008. In comparison, New York City registers one in every 10,000 homes scheduled for foreclosure auction.
• Queens dominates New York City foreclosure activity: In July, the top New York City zip codes for foreclosure activity were in Queens (specifically Jamaica and St. Albans). Exacerbating the situation, overall residential sales transactions in these zip codes dropped by 40% in the first two quarters of 2008 compared to the first two quarters of 2007, and the median sale price dropped to $413,000 from $452,000 for this area.
• Lien amount exceeds $2 billion for new LA County foreclosures in July This is the first month during the last two years in which the total aggregate lien amount from new LA County foreclosures has exceeded $2 billion. In Los Angeles County, the sum of the aggregate lien amounts for properties scheduled for trustee sales in July 2008 was $2,249,303,843.

“We are still in the middle of a housing hurricane where foreclosure activity remains high, home prices have declined, and the number of sales transactions has fallen dramatically. A crisis for homeowners; a potential opportunity for investors.”, stated Bill Staniford, CEO of PropertyShark.com.

Los Angeles County

• Trustee Sales: Los Angeles reached another two-year record this month with 5,982 new trustee sales, up 249% from the same month last year. The monthly aggregate lien amount from new properties scheduled for trustee sale this month passed the $2 billion threshold to also reach a two-year high.
• Los Angeles Trouble Spots: On top of the list we continue to have zip codes from Palmdale and Lancaster. We are also seeing new trustee sales beginning to occur in wealthier neighborhoods such as Malibu, Santa Monica, Manhattan Beach and West Hollywood with individual liens commonly surpassing $1,000,000.

Miami Dade County

• Foreclosure Auctions: The number of new foreclosures has reached a two year peak in Miami this month. The current number (1,099) is 137% higher than a year ago (464). Compared to the previous month the number of new foreclosures increased by 20%.

Seattle (King County)

• There were 190 new foreclosure auctions scheduled in July 2008, up 34% from the 142 new foreclosures in June 2008, and up 157% compared to July 2007.

New York City (five boroughs)

• New Foreclosure Auctions:New York City’s monthly foreclosure level remains high when compared to the last few years. The July 2008 number of 338 new auctions exceeds the July 2007 number (203) by 67%, and the July 2006 (147) number by 130%. However, New York City’s foreclosure level is diminutive when compared to other cities like Los Angeles and Miami.
• Boroughs Overview: Staten Island saw the highest monthly increase in the number of new foreclosures both compared to the previous month (86%) and to the same month last year (218%). Although July decreased by 5% from the prior month, Queens remains responsible for most of New York City’s foreclosure activity, with single and two family dwellings being the most common property types scheduled for auction. Brooklyn reached a two-year high this month with 63 new auctions scheduled, while the Bronx had a surprising, but positive decrease of 19%. Compared to July 2007, Queens is up 82%, Brooklyn 26%, Bronx 16% and Manhattan 8%.

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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