SI sees 90% rise in scheduled foreclosures

New York /
Sep.September 03, 2010 10:15 AM

(source: PropertyShark)

Newly scheduled residential foreclosure auctions rose by 90 percent in Staten Island last month, reversing the dip seen in July and prolonging the borough’s year-long pattern of dramatic ups and downs, according to new data from PropertyShark.com.

Still, the borough’s 38 scheduled foreclosures, up 111 percent since last year at this time, were just a small fraction of the 139 scheduled in Queens in August, which continues to lead the city by far in terms of new home foreclosure volume. Queens’ foreclosure auctions first scheduled during August were up 11 percent month-over-month and 1 percent year-over-year.

Of the top 15 zip codes in the city for scheduled foreclosure auctions last month — including both those just scheduled in August and those scheduled previously — the first 13 were in Queens. The 14th and 15th zip codes were located in Staten Island.

Brooklyn and the Bronx, meanwhile, saw respective 46 percent and 27 percent month-over-month decreases in newly scheduled foreclosure auctions. Brooklyn’s 20 scheduled auctions also represented a 35 percent year-over-year decline, while the Bronx’s 16 made for a 27 percent decline since last year.

In Manhattan, the number of foreclosure auctions scheduled rose to 15 in August. There were 14 scheduled in July and 16 scheduled in August 2009.

Citywide, there were 228 foreclosure auctions first scheduled during August, up 5 percent from July and 1 percent from last year at the same time. That made for a total of 550 residential foreclosure auctions slated to take place in the city, the vast majority of which are for single-family and two-family homes, as opposed to condos or co-ops.


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