NEW YORK FORECLOSURES DECREASE 4 PERCENT IN DECEMBER

State’s Activity 4 Percent Higher Than a Year Ago

 

IRVINE, Calif. – Jan. 15, 2007 – New York reported 4,690 properties entering some stage of the foreclosure process in December, a 4 percent decrease from the 4,881 properties reported in November, but still a 4 percent increase above the 4,500 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 700,000 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.

 

“Home price appreciation is contributing to a decrease in New York foreclosures in December,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, the state’s total foreclosure activity for the year is four percent higher than last year.”

 

New York ranked 10th in the country in total foreclosures reported for December. The state’s foreclosure rate of one new foreclosure filing for every 1,637 households ranks it 20th among the 50 states.

 

Top four counties account for 61 percent of state total

Four counties accounted for 61 percent of all foreclosures in the state of New York for December. Kings County led the state in foreclosures for the month, with 964 properties entering some stage of the foreclosure process. Queens County had the second highest total, with 800 properties entering some stage of the foreclosure process, followed by Nassau County, where 567 properties entered some stage of the foreclosure process. Suffolk County came in fourth, reporting 544 properties in some stage of the foreclosure process. Other significant foreclosure levels were found in Bronx County, which reported 372 properties, Richmond County, reporting 273 properties, New York County, reporting 270 properties, and Westchester County, reporting 193 properties in the foreclosure pipeline during the month.

 

Richmond County posts state’s highest foreclosure rate

Richmond County posted the state’s highest foreclosure rate in December, with one new foreclosure filing for every 601 households — 2.7 times the state average and 1.8 times the national average. Nassau County registered the second highest foreclosure rate in the state, with one new foreclosure filing for every 808 households — two times the state average and 1.3 times the national average. Completing the top five were Suffolk County, reporting one new foreclosure filing for every 960 households, Kings County, reporting one new foreclosure filing for every 966 households, and Queens County, reporting one new foreclosure filing for every 1,022 households.

 

State makes significant contribution to national total

New York accounted for 4 percent of the 109,652 properties entering some stage of the foreclosure process nationwide in December. The national total represents a 9 percent decrease in the activity from the 120,334 foreclosures reported in November. The nation’s foreclosure rate decreased to one new foreclosure filing for every 1,055 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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 – December 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

26,593

41,292

5,472

15,887

20,408

109,652

1,055

n/a

n/a

New York

0

9

1,147

3,405

129

4,690

1,637

0.64

n/a

 

 

 

 

 

 

 

 

 

 

Albany

0

0

28

11

0

39

3,333

0.32

0.49

Allegany

0

1

0

1

0

2

12,253

0.09

0.13

Bronx

0

0

82

290

0

372

1,319

0.80

1.24

Broome

0

0

9

1

0

10

8,882

0.12

0.18

Cayuga

0

0

1

0

0

1

35,477

0.03

0.05

Chautauqua

0

1

2

0

0

3

21,633

0.05

0.08

Chemung

0

0

1

1

0

2

18,873

0.06

0.09

Chenango

0

0

0

0

0

0

n/a 

0.00

0.00

Clinton

0

0

2

0

0

2

16,546

0.06

0.10

Columbia

0

0

0

0

1

1

30,207

0.03

0.05

Cortland

0

1

0

0

0

1

20,116

0.05

0.08

Delaware

0

0

2

0

0

2

14,476

0.07

0.11

Dutchess

0

0

27

48

0

75

1,415

0.75

1.16

Erie

0

3

64

6

51

124

3,354

0.31

0.49

Essex

0

0

0

0

0

0

n/a 

0.00

0.00

Fulton

0

0

0

0

0

0

n/a 

0.00

0.00

Genesee

0

0

1

0

0

1

24,190

0.04

0.07

Greene

0

0

0

0

0

0

n/a 

0.00

0.00

Herkimer

0

0

0

0

0

0

n/a 

0.00

0.00

Kings

0

0

143

821

0

964

966

1.09

1.70

Livingston

0

1

1

0

0

2

12,012

0.09

0.14

Monroe

0

0

47

66

37

150

2,029

0.52

0.81

Montgomery

0

0

1

2

0

3

7,507

0.14

0.22

Nassau

0

1

123

435

8

567

808

1.31

2.03

New York

0

0

10

259

1

270

2,956

0.36

0.55

Niagara

0

0

10

20

16

46

2,081

0.51

0.79

Oneida

0

0

4

0

0

4

25,701

0.04

0.06

Onondaga

0

1

42

2

0

45

4,370

0.24

0.37

Ontario

0

0

0

2

0

2

21,324

0.05

0.08

Orange

0

0

33

39

0

72

1,705

0.62

0.96

Orleans

0

0

1

0

0

1

17,347

0.06

0.09

Oswego

0

0

0

0

0

0

n/a 

0.00

0.00

Putnam

0

0

0

24

3

27

1,297

0.81

1.26

Queens

0

0

180

620

0

800

1,022

1.03

1.60

Rensselaer

0

0

1

1

0

2

33,060

0.03

0.05

Richmond

0

0

57

215

1

273

601

1.76

2.73

Rockland

0

0

23

25

2

50

1,899

0.56

0.86

Saint Lawrence

0

0

0

0

0

0

n/a 

0.00

0.00

Saratoga

0

0

2

0

0

2

43,351

0.02

0.04

Schenectady

0

0

1

0

0

1

65,032

0.02

0.03

Schuyler

0

0

1

1

0

2

4,591

0.23

0.36

Seneca

0

0

1

0

0

1

14,794

0.07

0.11

Steuben

0

0

0

1

0

1

46,132

0.02

0.04

Suffolk

0

0

158

386

0

544

960

1.10

1.71

Sullivan

0

0

12

0

0

12

3,728

0.28

0.44

Tioga

0

0

0

1

0

1

21,410

0.05

0.08

Tompkins

0

0

0

1

0

1

38,625

0.03

0.04

Ulster

0

0

9

2

6

17

4,568

0.23

0.36

Warren

0

0

0

0

0

0

n/a 

0.00

0.00

Washington

0

0

0

0

0

0

n/a 

0.00

0.00

Wayne

0

0

0

2

0

2

19,384

0.05

0.08

Westchester

0

0

68

122

3

193

1,811

0.58

0.90

Yates

0

0

0

0

0

0

n/a 

0.00

0.00

 

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 construction properties, with more than 1 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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