First-Time Foreclosures in the City Still Down But Pre-Foreclosures Are Slightly Up in Q1 2012
The number of new scheduled NYC foreclosure auctions was down 18% in Q1 2012 compared to Q1 2011, and was down 6% from Q4 2011.
New York, NY, April 19, 2012 --(PR.com)-- PropertyShark.com, a New York based property search and foreclosure listings website released its quarterly report covering first-time residential New York City foreclosures for Q1 2012.
Key Report Findings
· Foreclosures in New York City continued the downward trend that started in Q4 2010. The 209 first-time foreclosures scheduled in Q1 2012 are down 18% from Q1 2011 (256) and down 6% from Q4 2011 (222).
· However, the increase in lis pendens might be an area of concern.
Pre-foreclosures in New York City were up 13% in Q1 2012 (2,355) compared to Q4 2011 (2,090).
· Queens was the borough with the highest share of first-time foreclosures in Q1 2012. The 82 new scheduled foreclosure auctions recorded in the borough accounted for 39% of NYC's total new foreclosure activity. Even so, Queens foreclsures were down 13% Y-o-Y.
· Foreclosures in Brooklyn saw a slight increase (5%) over Q4 2011 and were down 36% from Q1 2011.
About PropertyShark
A wholly-owned subsidiary of Yardi Systems Inc, PropertyShark.com offers the information essential to evaluate real estate and make informed decisions. PropertyShark.com, which was named one of TIME.com’s “Top 50 Websites of 2009″, provides real estate professionals, investors and home buyers with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property values and comparable sales, sophisticated maps, for sale and for lease listings, foreclosures and pre-foreclosures, mailing lists, photos, and more. PropertyShark.com was founded by Matthew Haines in 2003. For more information or a free basic account, visit www.PropertyShark.com.
Key Report Findings
· Foreclosures in New York City continued the downward trend that started in Q4 2010. The 209 first-time foreclosures scheduled in Q1 2012 are down 18% from Q1 2011 (256) and down 6% from Q4 2011 (222).
· However, the increase in lis pendens might be an area of concern.
Pre-foreclosures in New York City were up 13% in Q1 2012 (2,355) compared to Q4 2011 (2,090).
· Queens was the borough with the highest share of first-time foreclosures in Q1 2012. The 82 new scheduled foreclosure auctions recorded in the borough accounted for 39% of NYC's total new foreclosure activity. Even so, Queens foreclsures were down 13% Y-o-Y.
· Foreclosures in Brooklyn saw a slight increase (5%) over Q4 2011 and were down 36% from Q1 2011.
About PropertyShark
A wholly-owned subsidiary of Yardi Systems Inc, PropertyShark.com offers the information essential to evaluate real estate and make informed decisions. PropertyShark.com, which was named one of TIME.com’s “Top 50 Websites of 2009″, provides real estate professionals, investors and home buyers with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property values and comparable sales, sophisticated maps, for sale and for lease listings, foreclosures and pre-foreclosures, mailing lists, photos, and more. PropertyShark.com was founded by Matthew Haines in 2003. For more information or a free basic account, visit www.PropertyShark.com.
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PropertyShark.com
Matt Wilson
718-715-1758
www.PropertyShark.com
Matt Wilson
718-715-1758
www.PropertyShark.com
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