NYC foreclosures drop in 4th quarter

Foreclosures in New York City
fell by 13 percent in the fourth quarter compared to the previous quarter,
according to PropertyShark.com. The total of 605 foreclosures, however, was
still 71 percent higher than the final quarter of 2006. On Staten
Island, new foreclosure auctions jumped 53 percent compared to the
previous quarter; the other boroughs saw drops of 10 to 30 percent.
“Incredibly, Staten Island now has more first time foreclosures than Brooklyn, despite being one-fifth the size in terms of
household numbers,” said Ashleigh Rose Clark, PropertyShark.com’s data
acquisitions manager. The neighborhood with the most foreclosures was in
Queens: Jamaica, South
Jamaica, Hollis and St. Albans had 23. Compared to the final quarter of 2006, foreclosures in the city were up 71 percent. TRD