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New York City Foreclosures Down 70 Percent from August 2011; Queens and Staten Island Foreclosures Decreased by 80 Percent


The number of new scheduled NYC foreclosure auctions was down 70% in August 2011 compared to August 2010, and was down 7% from July 2011.

New York City Foreclosures Down 70 Percent from August 2011; Queens and Staten Island Foreclosures Decreased by 80 Percent
New York, NY, September 21, 2011 --(PR.com)-- PropertyShark.com, the premier real estate research site, released its monthly report covering first-time residential New York City foreclosures for August 2011.

Key Report Findings

* The number of new scheduled foreclosure auctions in New York City (69) saw a 70% decrease in August 2011 compared to August 2010 (228) and a 7% decrease from July 2011 (74)

* Compared to August 2010, Queens and Staten Island foreclosure auctions were down more than 80%. Newly scheduled foreclosure auctions also fell 40% in Brooklyn and 13% in Manhattan while Bronx foreclosures remained level.

* The number properties that received at least one lis pendens filing in August 2011 (981) saw a 34% decrease compared to August 2010 (1,490) and a 4% decrease compared to July 2011 (1,027)

PropertyShark.com aggregates real estate data from hundreds of public and proprietary sources into an easy-to-use yet comprehensive property research website covering two dozen major markets. Site visitors can view detailed property reports for almost every residential or commercial property, scan recent sales comparables of similar properties to determine market values, browse foreclosure listings, and much more.

About PropertyShark
A wholly-owned subsidiary of Yardi Systems Inc, PropertyShark.com offers the information essential for evaluating real estate and making informed decisions. PropertyShark.com, which was named one of TIME.com’s “Top 50 Websites of 2009″, provides real estate professionals, investors and home buyers with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property values and comparable sales, sophisticated maps, for sale and for lease listings, foreclosures and pre-foreclosures, mailing lists, photos, and more. PropertyShark.com was founded by Matthew Haines in 2003. For more information or a free basic account, visit www.PropertyShark.com.

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Contact Information
PropertyShark.com
Matt Wilson
718-715-1758
Contact
www.PropertyShark.com

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