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Foreclosure Auctions Increase Substantially in Miami, Los Angeles, and Seattle in the Fourth Quarter of 2006; New York City Foreclosures Decrease

New York, February 22, 2007 – PropertyShark.com, the premier real estate data site, announces its quarterly report covering first-time residential foreclosures in New York City, Miami, Seattle and Los Angeles for the October-December 2006 time period.

Four-City Findings (Request report for details):

  • Foreclosure Auctions: PropertyShark.com recorded 1976 first-time trustee sales in Los Angeles, 354 foreclosure auctions in New York City, 756 in Miami-Dade County, and 370 in Seattle for October-December 2006.
  • Foreclosures per Household: Miami had 870% more properties scheduled for foreclosure per household during the quarter than New York City, 179% more per household than Seattle, and 86% more per household than Los Angeles.

New York City:

  • New Foreclosure Auctions: There were 354 new residential foreclosures in New York City (5 boroughs), an overall decrease (-16.7%) from the third quarter of 2006 (425 foreclosures).
  • Foreclosure Auctions by Borough: Staten Island had the highest foreclosure rate per household in Q4 2006, 250% higher than Brooklyn and seven times the rate per household in Manhattan. Sixteen of the top-20 zip codes for foreclosures were in Queens and Brooklyn.

“The biggest surprise to us was in Brooklyn, with new foreclosure auctions down 34% from last quarter and at two-year lows,” stated Ryan Slack, chief executive officer, PropertyShark.com.

Los Angeles County

  • Trustee Sales: Los Angeles had 1976 trustee sales during the period, an increase of 28.90% from the third quarter of 2006. The majority occurred in the Lancaster/Palmdale area and in South Central Los Angeles.

Seattle (King County)

  • Trustee Sales: King County had 370 new foreclosures in the fourth quarter of 2006, an increase of 26.28% from the third quarter of 2006. The top zip code was in the Auburn/Federal Way area.

Miami-Dade County

  • Foreclosure Auctions: There were 756 new residential foreclosures in Miami-Dade for the quarter, a 32.17% increase from Q3 2006. The majority of Miami-Dade foreclosures occurred in the Hialeah area.

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 tax, sophisticated maps, apartments for sale, 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