The Real Deal New York

Posts Tagged ‘foreclosures’

  • zombie

    Zombie properties (Credit: Trulia)

    WEEKENDEDITIONNew York City’s residential market may be hot, but Brooklyn and Queens are still plagued with “zombie” properties —abandoned homes where the bank has failed to complete the foreclosure process.

    Across the five boroughs there are roughly 807 deserted homes, according to the New York Post. In Brooklyn there are 250 zombie properties, with the largest numbers in East New York, Cypress Hills and Ocean Hill, according to ZIP code data from RealtyTrac. [more]

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  • Foreclosures can lead to high blood pressure

    Foreclosures can lead to high blood pressure

    WEEKENDEDITION A foreclosure can affect more than just your wallet. A new study has found that a foreclosure – even one next door — can elevate your blood pressure. [more]

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  • Housing in Queens

    Housing in Queens

    WEEKENDEDITION Things are looking good for the New York state housing market. Foreclosure filings throughout the state were down 31 percent in March, breaking a two-year trend. [more]

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  • foreclosuresForeclosure filings in the U.S. dropped 18 percent in January compared to the same period the previous year. But New York City isn’t following the trend.

    The city saw 1,255 foreclosures in January, up 15% from January 2013. That’s also a 12% bump up from the number of foreclosures in December. [more]

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  • Global rating agency Fitch Ratings warned U.S. investors that longer foreclosures are increasingly boosting the number of losses arising from residential mortgage-backed securities. After six consecutive quarters of declining loss severities on liquidated real estate mortgage-back securities, severities rose in the fourth quarter of 2013, according to Fitch. [more]

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  • U.S. foreclosure filings last year fell to a six-year low with 1.4 million total notices for auctions, defaults and repossessions. [more]

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  • dinapoli

    Thomas DiNapoli

    The president of a Brooklyn foreclosure-prevention nonprofit called the Homeowners Association has been accused of spending $20,000 in state grants on computers for her family. State Comptroller Thomas DiNapoli alleged that Carolyn Faulkner misspent funds from the Office of Children and Family Services that were allocated for equipment for workshops, seminars and newsletters.

    “This vendor was supposed to help individuals achieve the American dream of homeownership,” DiNapoli said. “Instead, she fulfilled her own dreams and allowed her family to use state-funded equipment for homework assignments, iTunes downloads and other personal business.” [more]

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  • The Bronx, which saw a growth in foreclosures

    The Bronx, which saw a growth in foreclosures

    First-time foreclosures in New York City doubled between the first and second quarters of this year, reaching a two-year high, according to a PropertyShark report. The second quarter saw a total of 348 first-time foreclosures citywide – an uptick from 146 tallied in the previous quarter. [more]

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  • CitySpire at 150 West 56th Street

    CitySpire at 150 West 56th Street

    “Numbers to know” is a weekly web feature that catalogues the most notable, quirky and surprising real estate statistics. Apartments in Midtown West changed hands more than in any other neighborhood, cities increased in price faster than their suburban counterparts, and the foreclosure relief bill passes the New York State senate.  [more]

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  • foreclosureForeclosure rates in the New York-White Plains-Wayne area decreased in April over the same period last year, according to a CoreLogic report issued today.

    The rate among outstanding mortgage loans slipped to 5.15 percent — a year-over-year decrease of 0.51 percentage points. In March, the rate was 5.6 percent. [more]

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  • REOhomes

    A bank-owned home

    Lenders are unloading bank-owned homes at an even faster clip than they were during the lead up to the real estate boom, according to data provided to The Real Deal by listings provider PropertyShark.

    Banks and financial services firms such as Deutsche Bank, Wells Fargo and HSBC sold homes in Manhattan, Queens, Brooklyn and the Bronx in an average of 260 days in 2011, compared with 290 days in 2005 — a 10.3 percent difference, the most recent data show. See chart after the jump.

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  • john-sampson-brooklyn-supreme-court

    John Sampson and Kings County Supreme Court

    In the wake of state Senator John Sampson’s indictment over the alleged embezzlement of escrowed foreclosure funds, a new rule in Kings County Supreme Court in Brooklyn requires judges to confirm that funds from foreclosure auctions are deposited with the clerk, the New York Post reported. [more]

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  • New York Public Library

    Thousands of foreclosure settlement checks issued to homeowners written for the wrong amounts. Architect Winka Dubbeldam sells 497 Greenwich for $1.95M. New York Public Library renovation plan sparks protests. Workers remove only tree to survive construction of 51 Astor Place. Graffiti artists attracted to metallic sheen of Brooklyn Bridge. Read these stories and more after the jump.

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  • Long Island City's Flea & Food Market Announcement

    Long Island City’s Flea & Food Market Announcement

    “Numbers to know” is a weekly web feature that catalogs the most notable, quirky and surprising real estate statistics. Long Island City’s waterfront gets a flea market, buyers pay greater attention to the resale value of homes and the price of Manhattan lofts skyrocket. [more]

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  • Jed Kolko

    Trulia’s chief economist Jed Kolko said that although the housing recovery was “for real,” the price rises in many major markets were simply a rebound from the dark days of the housing bust. Speaking in an interview on Bloomberg News, Kolko said that strong job growth was increasing household demand, leading to an appreciation in house prices. See the video after the jump.

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  • Discoveries of misconduct among the nation’s largest mortgage lenders, prior to and during the foreclosure crisis, are continuing to add up, with the revelation that the nation’s biggest banks wrongfully foreclosed on more than 700 members of the U.S. military, the New York Times reported. [more]

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  • Inset: Mayor Michael Bloomberg

    “Numbers to know” is a weekly web feature that catalogues the most notable, quirky and surprising real estate statistics. Foreclosures’ effect on crime, Bloomberg’s fight to bring more tourists to NYC and the G train’s saga. See this week’s countdown after the jump. [more]

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  • Click to enlarge

    U.S. foreclosure filings — including default notices, scheduled auctions and bank repossessions — are down 3 percent year-over-year, according to a year-end foreclosure market report issued by RealtyTrac. The nationwide average of housing units that had at least one foreclosure filing in 2012 came in at 1.39 percent — or one in every 72 units — which is down from the 1.45 percent tallied in 2011. But despite the positive news on the national front, foreclosure activity increased in 25 states in 2012, including New York, New Jersey and Connecticut. Queens, RealtyTrac found, was particularly hard-hit. [more]

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  • End of federal law puts renters at risk

    December 18, 2012 08:30AM

    When a little-known federal law expires at the end of the 113th Congress, millions of renters across the U.S. could face eviction, the Huffington Post reported. The Protecting Tenants at Foreclosure Act, passed in 2009, gives renters the right to remain in their homes until the end of their lease or for a minimum of 90 days if they are not on a lease, if their building is foreclosed on. Without the federal provision, renters will be forced to rely on local laws that are sometimes good and sometimes nonexistent. [more]

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  • Though home prices have been on a steady rise these last months, rapid price increases could hurt recovery in the housing market, CNBC reported. The concern lies with investors who are flocking to areas with high numbers of distressed properties and renting them out — though they can get 8 to 12 percent returns, the profits can shrink as house prices rise. [more]

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