Miami and New York City Reach Near-Term Highs, While
Seattle Recovers
Request a Complimentary Copy of the PropertyShark.com
"Second Quarter 2007 Foreclosure Report" Through Kelly Kreth
NEW YORK, July 17, 2007 (PRIME NEWSWIRE) -- PropertyShark.com, the premier real estate data site, today released its quarterly report covering first-time residential foreclosures in New York City, Miami, Seattle and Los Angeles for the April-June 2007 time period.
Four-City Findings (Request report for details):
* Foreclosure Auctions: PropertyShark.com recorded 3,793 first-time trustee sales in Los Angeles, 643 foreclosure auctions in New York City, 1,282 in Miami-Dade County, and 334 in Seattle for April-June 2007. * Major Increases: The number of foreclosures increased significantly in Los Angeles, New York City, and Miami. (See below for numbers) * Foreclosures per Household: Miami had 136% more properties scheduled for foreclosure per household than Los Angeles, and a 775% higher rate per household than New York City.
Los Angeles County
Trustee Sales: Los Angeles had 3,793 trustee sales during the period, an increase of 54.63% from the first quarter of 2007, and a 202% increase compared to the first quarter of 2006. The top 5 zip codes in Los Angeles County for trustee sales were in Lancaster and Palmdale.
Miami-Dade County
* Foreclosure Auctions: There were 1,282 new residential foreclosures in Miami-Dade for the quarter, a 29.89% increase from Q1 2007 and a 146% increase from Q1 2006. For a list of the top 20 Miami zip codes for foreclosure auctions, request the report.
New York City:
* New Foreclosure Auctions: There were 643 new residential foreclosures in New York City (5 boroughs), a 16.06% increase from the first quarter of 2007 (554 foreclosures), and a 19.52% increase from the second quarter of 2006. * Foreclosures by Borough: All New York City boroughs had a quarterly increase in the number of new residential foreclosure auctions, with large percentage increases in the Bronx (76.60%) and Staten Island (58.82%) since last quarter. However, 73% of New York City foreclosures were Queens and Brooklyn properties.
"New York City, Miami, and Los Angeles foreclosures are at all time highs since PropertyShark.com began tracking foreclosures," stated Ryan Slack, chief executive officer, PropertyShark.com. "Typically, the second quarter foreclosure numbers are lower than the first quarter due to the 'holiday effect,' but this year the numbers keep climbing."
Seattle (King County)
* Trustee Sales: King County had 334 new residential trustee sales in the first quarter of 2007, a 13.02% decrease from the first quarter of 2007. The top zip codes were in Federal Way and Columbia.
Real estate investors can browse current foreclosure listings for the following areas:
Los Angeles Foreclosures: http://www.propertyshark.com/mason/california/Foreclosures/index.html
Miami Foreclosures: http://www.propertyshark.com/mason/florida/Foreclosures/index.html
New Jersey Foreclosures: http://www.propertyshark.com/mason/nj/Foreclosures/index.html
NYC Foreclosures: http://www.propertyshark.com/mason/Foreclosures
Philadelphia Foreclosures: http://propertyshark.com/mason/pennsylvania/Foreclosures/index.html
San Francisco Foreclosures: http://www.propertyshark.com/mason/san_francisco/Foreclosures/index.html
Seattle Foreclosures: http://www.propertyshark.com/mason/seattle/Foreclosures/index.html
Press may request a copy of the report by contacting Kelly Kreth at 201-417-8691.
With over 25 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property values and comparable sales, sophisticated maps, listings, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com
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