Brooklyn Supreme Court

More than 100 Occupy Wall Street-affiliated protesters invaded a courtroom inside the Brooklyn Supreme Court yesterday afternoon in an effort to disrupt foreclosure auctions, the Brooklyn Paper reported. Police arrested a total of 37 people, who received summonses for disorderly conduct. As previously reported, this is not the first time such a demonstration has happened.

The reason for their gathering centered on their belief that foreclosures are unfair to homeowners. [more]

Source: PropertyShark

New foreclosure auctions in New York City plummeted during the third quarter, according to a PropertyShark.com report released today, but that’s far from a sign of an improvement in the housing market.

Just 207 new foreclosures were filed in the third quarter, down 33 percent from the 311 filed in the second quarter, and down 69 percent from the 659 new filings in the third quarter of 2010. About half the new foreclosures were filed on co-ops.

Queens led all boroughs with 82 foreclosures, or 39 percent of the city’s foreclosures. However, the number was still 28 percent less than it was last quarter, and 79 percent below the figure recorded in the prior year quarter. – Adam Fusfeld [more]

Click image for larger version

A double-dip will strike the New York City housing market in four to eight months, according to Bill Staniford, general manager of real estate research website Property Shark [more]

From left: foreclosure maps from Manhattan and Brooklyn, source: PropertyShark (click image for larger version)

While the housing market may be slowly reaching a plateau, one borough is still feeling foreclosure pain. The number of scheduled foreclosure auctions declined in all boroughs, except the Bronx, in the second qua [more]

Number of foreclosures by borough (Source: PropertyShark.com)

New York City saw a slight increase in foreclosures from April to May
but a decrease between May 2008 and May of this year, according to a monthly foreclosure report from PropertyShark.com. There were 285 new
foreclosures across the five boroughs in May, an 8 percent rise from
April but a 9 percent drop from May 2008 (see jump for full report). Queens continued to have the
highest number of new foreclosures, with 209. Staten Island saw 30 new
foreclosures, a 36 percent decrease month-over-month and
year-over-year. There was a 26 percent drop in new foreclosures in the
Bronx from April to May, to 17. Foreclosures in Brooklyn increased 62
percent from April but fell 62 percent from May 2008. Manhattan saw eight
new foreclosures in May, a 43 percent drop year-over-year. The 15 zip
codes with the highest numbers of foreclosure auctions were in Queens. TRD [more]