NEW YORK FORECLOSURE ACTIVITY DECREASES 3 PERCENT IN JULY

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Total Up 23 Percent From July 2006

 

IRVINE, Calif. – Aug. 24, 2007 – New York reported 4,270 foreclosure filings in July, a 3 percent decrease for the previous month, but still a 23 percent increase from July 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

Although New York foreclosures decreased slightly in July, the numbers are up from this time last year,” said James J. Saccacio, chief executive officer of RealyTrac. “Statistics show that the state’s home price appreciation rate was below the national average during the past year. This is likely contributing to the overall rise.”

 

New York ranked 13th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 1,839 households ranked it 25th among the 50 states.

 

Queens County leads all in foreclosure activity for July

Queens County led the state in foreclosure activity for July, reporting 882 foreclosure filings. Kings County reported the second highest county total, with 875 foreclosure filings. Nassau County reported the third highest county total, with 432 foreclosure filings, followed by fourth place Bronx County, with 321 foreclosure filings entering the foreclosure pipeline. New York County reported the fifth highest county total with 253 foreclosure filings.

 

Richmond County posts highest foreclosure rate

Richmond County reported the highest county foreclosure rate in the state for July, with a rate of one foreclosure filing for every 756 households — 2.4 times the state average. Queens County posted the second highest rate, with one foreclosure filing for every 943 households — 1.9 times the state average. Putnam County posted the third highest foreclosure rate, with one foreclosure filing for every 1,011 households — 1.8 times the state average. Niagara County came in fourth with a foreclosure rate of one foreclosure filing for every 1,036 households — 1.8 times the state average. Nassau County rounded out the state’s top five, with a rate of one foreclosure filing for every 1,060 households — 1.7 times the state average.

 

State contributes 2 percent to nation’s monthly total

Total foreclosure filings in New York accounted for 2 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 693 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                         New York Foreclosure Market by County – July 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

New York

1

12

804

3131

322

4,270

1,839

0.38

n/a

 

 

 

 

 

 

 

 

 

 

Albany

0

1

13

38

0

52

2,552

0.27

0.72

Allegany

0

0

2

0

0

2

12,428

0.06

0.15

Bronx

0

0

69

244

8

321

1,565

0.44

1.18

Broome

0

1

14

0

2

17

5,230

0.13

0.35

Cattaraugus

0

0

0

1

4

5

8,054

0.09

0.23

Cayuga

0

0

0

0

9

9

3,988

0.17

0.46

Chautauqua

0

0

2

0

1

3

21,838

0.03

0.08

Chemung

0

0

0

0

1

1

38,026

0.02

0.05

Chenango

0

0

0

0

0

0

n/a

0.00

0.00

Clinton

0

1

1

0

5

7

4,875

0.14

0.38

Columbia

0

0

0

0

0

0

n/a

0.00

0.00

Cortland

0

0

0

0

3

3

6,763

0.10

0.27

Delaware

0

0

0

0

0

0

n/a

0.00

0.00

Dutchess

0

0

30

12

0

42

2,636

0.26

0.70

Erie

0

2

151

3

33

189

2,233

0.31

0.82

Essex

0

1

2

0

0

3

8,018

0.09

0.23

Franklin

0

0

2

0

0

2

12,157

0.06

0.15

Fulton

0

0

1

0

1

2

13,997

0.05

0.13

Genesee

0

0

13

0

0

13

1,880

0.37

0.98

Greene

0

0

3

1

1

5

5,529

0.13

0.33

Herkimer

0

1

1

0

5

7

4,624

0.15

0.40

Jefferson

0

0

1

0

5

6

9,105

0.08

0.20

Kings

0

0

53

808

14

875

1,083

0.64

1.70

Lewis

0

0

2

0

0

2

7,949

0.09

0.23

Livingston

0

0

3

0

0

3

8,274

0.08

0.22

Madison

0

0

0

0

0

0

 n/a

0.00

0.00

Monroe

0

0

21

8

26

55

5,671

0.12

0.32

Montgomery

0

0

1

0

0

1

22,565

0.03

0.08

Nassau

0

0

50

347

35

432

1,060

0.65

1.73

New York

0

0

11

242

0

253

3,240

0.21

0.57

Niagara

0

0

1

33

60

94

1,036

0.67

1.77

Oneida

0

0

9

1

0

10

10,317

0.07

0.18

Onondaga

0

0

14

1

4

19

10,565

0.07

0.17

Ontario

0

0

5

0

1

6

7,451

0.09

0.25

Orange

0

0

65

3

23

91

1,444

0.48

1.27

Orleans

0

0

5

0

0

5

3,502

0.20

0.53

Oswego

0

0

3

19

16

38

1,414

0.49

1.30

Otsego

0

1

2

1

0

4

7,606

0.09

0.24

Putnam

0

0

18

18

0

36

1,011

0.69

1.82

Queens

0

0

60

799

23

882

943

0.74

1.95

Rensselaer

0

0

17

25

0

42

1,618

0.43

1.14

Richmond

0

0

15

205

10

230

756

0.92

2.43

Rockland

0

0

10

71

3

84

1,151

0.60

1.60

Saint Lawrence

0

0

1

0

6

7

7,211

0.10

0.26

Saratoga

0

0

9

9

8

26

3,559

0.19

0.52

Schenectady

0

0

22

5

0

27

2,437

0.28

0.75

Schoharie

0

1

2

0

0

3

5,427

0.13

0.34

Schuyler

0

0

1

0

0

1

9,332

0.07

0.20

Seneca

0

0

0

0

0

0

 n/a

0.00

0.00

Steuben

0

0

0

1

0

1

46,782

0.01

0.04

Suffolk

1

1

18

24

0

44

12,246

0.06

0.15

Sullivan

0

1

12

0

0

13

3,615

0.19

0.51

Tioga

0

0

1

0

0

1

21,668

0.03

0.08

Tompkins

0

0

1

0

2

3

13,388

0.05

0.14

Ulster

0

1

20

1

0

22

3,660

0.19

0.50

Warren

0

0

6

0

0

6

6,119

0.11

0.30

Washington

0

0

3

0

0

3

9,232

0.08

0.20

Wayne

0

0

16

0

1

17

2,336

0.30

0.79

Westchester

0

0

15

206

11

232

1,531

0.45

1.20

Wyoming

0

0

6

5

1

12

1,434

0.48

1.28

Yates

0

0

1

0

0

1

12,344

0.06

0.15

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

 

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