The West—the land of the foreclosed. Boise City-Nampa in Idaho, and Provo-Orem and Salt Lake City in Utah have seen the country's largest year-to-year increases in foreclosure activity. In some of the cities noted in RealtyTrac's third quarter foreclosure report, this burst of foreclosure activity is new.
“The Chico metro area posted the biggest year-over-year increase in California, with foreclosure activity up 98 percent from the third quarter of 2008,” reads the report. “The medium-sized metro about 100 miles north of Sacramento had a 12.8 percent unemployment rate in August, above the state and national averages.” Yikes.
Las Vegas once again leads the nation in foreclosures. One in 20 Las Vegas homes reported foreclosure activity in the third quarter. Merced, California, is second on the list despite having seen a 13-percent improvement since last quarter. It had 3,092 filings this quarter. Several other cities in California, Nevada, and Florida fill the ranks following Merced.
Compared to the figures above, the situation in New York, as stagnant as it has become since last year, is much rosier.
Sales figures citywide are provided by Streeteasy.com, a leading listings Web site.
There are 22,768 active listings as of Wednesday. Among the freshly listed are a few co-op units at 40 Brighton 1st Road in Brighton Beach, where $399,000 will get you one bed, one bath, and access to a swimming pool, gym, and steam room. The building is just blocks away from the Ocean Parkway subway stop on the Q line.
For more than twice as much ($835,000), you can get out of the depth of Brooklyn and into a condo at 220 Riverside Boulevard in Lincoln Square. This would be an address at Trump Place (880 sq. ft. and one bed, one bath).
More expensive still is 330 East 38th Street 41B, where $1,500,000 is the asking price for 971 sq. ft. and one bed, 1.5 baths. Just like Trump Place, this address overlooks a river—the East River. Called The Corinthian, the building comes with a pool, a recreation room, a roof deck, and other amenities.
Two bedrooms for $2,295? On the Lower East Side? Anna Longo for Misrahi has the hookup. She listed the apartment on Wednesday. The unit at 102 Norfolk Street comes with a living room and a full kitchen.
At 380 Rector Place in Battery Park City, $2,950 fetches one bedroom, furnishings, and plentiful views of the Hudson.
Streeteasy.com listed its price movers in the last seven days, which includes The 16th Street Condominiums in Park Slope. Apartments in the angular, mod-looking building average $585,000 for a one-bedroom. There were five price decreases at this address this week.
The Brompton in Yorkville is back on the price movers' chart with three price decreases this week, but The Meserole in Williamsburg has raised its prices on four units. With a modern facade, luxury kitchen designs, and low-emission floor-to-ceiling windows, apparently the building is in hot demand. Eleven listings are currently active.