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February 2009 New Jersey Foreclosure Report Issued by PropertyShark.com

New Jersey Foreclosure Report Issued by PropertyShark.com for February 2009. There were 601 new foreclosures scheduled for auction in New Jersey in February 2009, which is down 23% from January 2009 (783) and down 24% compared to February 2008 (793).

Jersey City, NJ, March 23, 2009 – PropertyShark.com, the premier real estate data site, today released its monthly report covering first-time residential foreclosures in New Jersey for February 2009.

(Note: This report covers February 09 in aggregate. To view individual New Jersey foreclosure listings scheduled for auction this week, go to http://www.propertyshark.com/mason/Foreclosures/new_jersey/)

Key Report Findings

  • Newark topped the list with 37 new foreclosures, followed by Paterson with 29, and there were 24 new foreclosures in both Elizabeth and Trenton.
  • Jackson Township had the highest rate of foreclosures per household with one in every 1,090 homes scheduled for auction, followed by Plainfield with one in every 1,164.
  • There were 601 new foreclosures scheduled for auction in New Jersey in February 2009, which is down 23% from January 2009 (783) and down 24% compared to February 2008 (793).
  • Essex, Middlesex, Ocean, and Union counties had the most new foreclosures in February 2009. Essex County (79) had the highest number of new foreclosures scheduled in February 2009.
  • Union County had the highest rate of foreclosures per household with one in every 3,002 homes scheduled for auction in February 2009. Passaic County followed with one in every 3,151 homes scheduled for auction, and Atlantic County had one in every 3,167.
  • Newark had the highest number of foreclosures, while Jackson Township had the highest foreclosure rate.

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

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

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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

For all media inquiries, please contact the PropertyShark.com Marketing Department at (718) 408-4985 or pr@propertyshark.com.

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