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New Jersey Foreclosures Down 10% from Q1 2008, But Up 13% Over Q4 2008


PropertyShark.com released its quarterly report covering first-time residential foreclosures in New Jersey for Q1 2009. Foreclosure auctions scheduled in New Jersey in Q1 2009 (2,293) were down 10% compared to Q1 2008 (2,560), but they have gone up 13% since Q4 2008 (2,030).

New Jersey Foreclosures Down 10% from Q1 2008, But Up 13% Over Q4 2008
Newark, NJ, April 15, 2009 --(PR.com)-- PropertyShark.com, the premier real estate data site, today released its quarterly report covering first-time residential foreclosures in New Jersey for Q1 2009.

(To browse individual New Jersey foreclosure listings, go to http://propertyshark.com/mason/Foreclosures/new_jersey/)

Key Report Findings

· Foreclosure auctions scheduled in New Jersey in Q1 2009 (2,293) were down 10% compared to Q1 2008 (2,560), but they have gone up 13% since Q4 2008 (2,030).

· Essex County (296) had the most New Jersey foreclosures scheduled in Q1 2009 - Essex (296), Passaic (217), Ocean (217), and Union (215) counties had the most new foreclosures in New Jersey in Q1 2009.

· Of New Jersey cities, Newark had the most new foreclosures; Dover had the highest rate of new foreclosures - There were 133 new foreclosures in Newark, followed by Paterson with 120, and Elizabeth with 71. Dover had a rate of one home scheduled for foreclosure auction for every 170 homes, followed by Paterson with one in every 373.

· Passaic County had the highest rate of foreclosures per household with one in every 755 homes scheduled for auction in Q1 2009 - Union County followed with one in every 866 homes scheduled for auction, and Ocean County had one foreclosure for every 924 homes.

The full New Jersey Q1 2009 Foreclosure Report can be downloaded at http://www.propertyshark.com/mason/BlogCenter/marketreports.html.

PropertyShark.com has also plotted the new foreclosures for the quarter on their Maps. For example:

Essex: http://www.propertyshark.com/mason/Maps/?map=nj_essex&x=0.515&y=0.6975&zoom=0&basemap=default&poi=poi-nj_essex-q12009firsttimeforeclosures-essexcountyforeclosures
Bergen: http://www.propertyshark.com/mason/Maps/?map=nj_bergen&x=0.515&y=0.6508333333333334&zoom=0&basemap=default&poi=poi-nj_bergen-q12009firsttimeforeclosures-bergencountyforeclosures
Middlesex: http://www.propertyshark.com/mason/Maps/?map=nj_middlesex&x=0.585&y=0.36625&zoom=0&basemap=default&poi=poi-nj_middlesex-q12009firsttimeforeclosures-middlesexcountyforeclosures

Press may request a copy of the report by contacting Brian Scully at 718.408.4985.

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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
Contact Information
PropertyShark.com
Brian Scully
718-715-1758
Contact
www.PropertyShark.com

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