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Manhattan and Queens Matched in First-Time Foreclosures

By Laura Gatea Created: January 5, 2012 Last Updated: July 13, 2012
Related articles: Business » Real Estate
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(propertyshark.com)

(propertyshark.com)

Manhattan and Queens reached the same level of first-time foreclosures in November.

New York City’s first-time foreclosures dropped slightly for the sixth consecutive month in November. This number is down 61 percent from November 2010 (146), and down 5 percent from October 2011 (60). Queens foreclosures decreased 77 percent compared to the previous year. In contrast, Manhattan foreclosures doubled, reaching in November 2011 the same level as Queens (16 new scheduled foreclosure auctions).

(propertyshark.com)

(propertyshark.com)

Despite the low number of new scheduled foreclosure auctions, preforeclosure filings remained steady. There were 715 residential properties in the five boroughs that received lis pendens filings in November 2011, only 2 percent less than in November 2010.

Laura Gatea is a blogger for Property Shark. PropertyShark.com is a property search site with market data for New York City and New York state.Click here for the original article.




   

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