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94 Connecticut Planet Realty, LLC Sales@CTREOTEAM.com 203-982-4985 cell www.CTREOTEAM.com Security • Preservation • Disposition Steve Rivkin NEW YORK Foreclosure Trends in the Big Apple First-time foreclosures in New York's five boroughs stagnated at a too-high-for-comfort level, according to a report by PropertyShark. e city tallied 881 scheduled foreclosures in Q2, which is about where they were in Q1 and a year earlier. Foreclosure numbers have stayed near the 900 mark since the beginning of 2017 when they more than doubled compared to most of the previous three years. Most scheduled foreclosures were in the boroughs of Queens and Brooklyn, which made up about two-thirds of the cases. Queens' 356 scheduled foreclosures amounted to a 17 percent uptick over Q1, but they were down from 388 properties a year earlier. Despite the high number of foreclosures, there was an 8 percent drop in foreclosure auctions in the borough in Q1, according to the report. Brooklyn saw 226 properties head to the auction block in the borough during the second quarter, but even with the secondmost foreclosed properties in New York City, the numbers were down 14 percent year-over-year and down 18 percent from Q1. Foreclosure cases were up 39 percent year-over-year in Staten Island. However, fewer properties headed to the auction block compared to the first quarter of 2018. "In total, 146 homes were scheduled for auc- tion in Q2 2018," the report stated. at's a 23 percent contraction quarter-over-quarter. ere were 127 homes scheduled for auc- tion in Bronx in Q2, a year-over-year dip of 8 percent and a month-over-month drop of 9 percent. Meanwhile, Manhattan closed Q2 with 26 properties headed to the auction block, a 28 percent decrease both year-over year and quarter over quarter. Homes entering preforeclosure dropped 13 percent from Q2 of 2017, the report found. ere were 2,772 residential lis pendens cases, which, despite the yearly drop, was an 8 percent increase quarter-over-quarter. "In the first quarter of 2018, a total of 2,694 preforeclosures have been registered," the report stated. "In Q2 2017, the city recorded 2,862 cases." At the borough level, Queens had the most lis pendens cases in Q2, with 1,005. Brooklyn followed with 861 preforeclosures, then Staten Island with 378. "Year-over-year, pre-foreclosures decreased in most boroughs, the only exception being the Bronx," the report stated. ere was a 2 percent uptick there. Brooklyn recorded the largest year-over- year drop in lis pendens filings, 16 percent. THE LEADER IN DEFAULT SERVICING NEWS Help shape the next issue of DS News. Drop us a line at Editor@DSNews.com. Sen. Chuck Schumer recently called for HUD to approve a plan that would allow Rochester, New York, officials to acquire and rehab vacant homes. Schumer's office estimates zombie homes in Rochester are worth around $30 million. KNOW THIS New Jersey Lisa G Lopez Broker of Record Home Alliance Realty 142 E. Bay Ave Manahawkin, NJ 08050 609-978-9009 (o) 609-384-5109 (c) lglopez@verizon.net www.HomeAllianceRealty.com www.LisaLopezProperties.com 94 Connecticut Planet Realty, LLC Sales@CTREOTEAM.com 203-982-4985 cell www.CTREOTEAM.com Security • Preservation • Disposition Steve Rivkin NEW YORK Foreclosure Trends in the Big Apple First-time foreclosures in New York's five boroughs stagnated at a too-high-for-comfort level, according to a report by PropertyShark. e city tallied 881 scheduled foreclosures in Q2, which is about where they were in Q1 and a year earlier. Foreclosure numbers have stayed near the 900 mark since the beginning of 2017 when they more than doubled compared to most of the previous three years. Most scheduled foreclosures were in the boroughs of Queens and Brooklyn, which made up about two-thirds of the cases. Queens' 356 scheduled foreclosures amounted to a 17 percent uptick over Q1, but they were down from 388 properties a year earlier. Despite the high number of foreclosures, there was an 8 percent drop in foreclosure auctions in the borough in Q1, according to the report. Brooklyn saw 226 properties head to the auction block in the borough during the second quarter, but even with the secondmost foreclosed properties in New York City, the numbers were down 14 percent year-over-year and down 18 percent from Q1. Foreclosure cases were up 39 percent year-over-year in Staten Island. However, fewer properties headed to the auction block compared to the first quarter of 2018. "In total, 146 homes were scheduled for auc- tion in Q2 2018," the report stated. at's a 23 percent contraction quarter-over-quarter. ere were 127 homes scheduled for auc- tion in Bronx in Q2, a year-over-year dip of 8 percent and a month-over-month drop of 9 percent. Meanwhile, Manhattan closed Q2 with 26 properties headed to the auction block, a 28 percent decrease both year-over year and quarter over quarter. Homes entering preforeclosure dropped 13 percent from Q2 of 2017, the report found. ere were 2,772 residential lis pendens cases, which, despite the yearly drop, was an 8 percent increase quarter-over-quarter. "In the first quarter of 2018, a total of 2,694 preforeclosures have been registered," the report stated. "In Q2 2017, the city recorded 2,862 cases." At the borough level, Queens had the most lis pendens cases in Q2, with 1,005. Brooklyn followed with 861 preforeclosures, then Staten Island with 378. "Year-over-year, pre-foreclosures decreased in most boroughs, the only exception being the Bronx," the report stated. ere was a 2 percent uptick there. Brooklyn recorded the largest year-over- year drop in lis pendens filings, 16 percent. THE LEADER IN DEFAULT SERVICING NEWS Help shape the next issue of DS News. Drop us a line at Editor@DSNews.com. Sen. Chuck Schumer recently called for HUD to approve a plan that would allow Rochester, New York, officials to acquire and rehab vacant homes. Schumer's office estimates zombie homes in Rochester are worth around $30 million. KNOW THIS Steven Pagano COLDWELL BANKER RESIDENTIAL Steven@PaganoProperties.com PaganoProperties.com 140 Jericho Turnpike Syosset, NY 11791 631.379.0753 (c) | 808.853.7639 (o) Unparalleled Service for NYC and Long Island New York New Jersey Lisa G Lopez Broker of Record Home Alliance Realty 142 E. Bay Ave Manahawkin, NJ 08050 609-978-9009 (o) 609-384-5109 (c) lglopez@verizon.net www.HomeAllianceRealty.com www.LisaLopezProperties.com