November 2007 Foreclosure Report Issued By Propertyshark.Com; Increases in Los Angeles, New York City and Miami; Seattle Doubles
PropertyShark.com today released its November 2007 report covering first-time residential foreclosures in Los Angeles, Miami, Seattle and New York City. The number of new Seattle foreclosures jumped 118% in November 2007 over October 2007, and 33% over November 2006. The number of foreclosures rose in Los Angeles, 13.09% higher than last month and 233.7% higher than the same month in 2006. There were 643 residential foreclosure auctions scheduled in Miami-Dade County for November 2007.The number was stable from the prior month (638), but 111.5% higher than November 2006.
New York, NY (PRWEB) December 5, 2007 -- PropertyShark.com, the premier real estate data site, today released its monthly report covering first-time residential foreclosures in Los Angeles, Miami, Seattle and New York City for November 2007.
Key Four-City Findings (Request report for details and charts):
| | - Foreclosure Auctions: PropertyShark.com recorded 2436 first-time trustee sales in Los Angeles, 257 foreclosure auctions in New York City, 643 in Miami-Dade County, and 157 in Seattle for November 2007.
- Seattle Worsens: The number of new Seattle foreclosures jumped 118% in November 2007 over October 2007, and 33% over November 2006.
- Los Angeles Increases: The number of foreclosures rose in Los Angeles, 13.09% higher than last month and 233.7% higher than the same month in 2006.
- Foreclosures per Household: Of the four cities, Miami had the highest foreclosure rate per household, followed closely by Los Angeles. These rates per household are about 9 times the rates in New York City.
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"The surprise this month was the doubling in the number of first time foreclosures in Seattle, an area which had recently shown consecutive monthly improvements" stated Ashleigh Rose Clark, data acquisitions manager at PropertyShark.com.
Los Angeles County
| | - Trustee Sales: Los Angeles had 2436 trustee sales during the period, 13.09% higher than last month and 233.7% higher than the same month in 2006.
- By Zip Code: The top six zip codes for Los Angeles County foreclosures were in Lancaster and Palmdale.
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Miami-Dade County
| | - Foreclosure Auctions: There were 643 residential foreclosure auctions scheduled in Miami-Dade County for November 2007. The number was stable from the prior month (638), but 111.5% higher than November 2006.
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New York City (five boroughs):
| | - New Foreclosure Auctions: New York City saw a 17.35% monthly increase in new residential foreclosures in November 2007 (257 foreclosures) compared to October 2007 (219 foreclosures), and a 129.46% jump over November 2006.
- Foreclosures by Borough: Of the New York City boroughs, Staten Island had the largest percentage increase in foreclosures (48.94%) compared to the prior month, and 366.67% over November 2006. Staten Island is second to only Queens in terms of the number of first time foreclosures in November 2007.
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Seattle (King County)
| | - Trustee Sales: For November 2007, there were 157 new residential trustee sales scheduled in Seattle (King County), a 118% increase over October 2007 (72), and 33% rise over November 2006 (118).
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Real estate investors can browse current foreclosure listings for the following areas:
Los Angeles Foreclosures: http://www.propertyshark.com/mason/california/Foreclosures/index.html
Miami Foreclosures: http://www.propertyshark.com/mason/florida/Foreclosures/index.html
New Jersey Foreclosures: http://www.propertyshark.com/mason/nj/Foreclosures/index.html
NYC Foreclosures: http://www.propertyshark.com/mason/Foreclosures
Philadelphia Foreclosures: http://propertyshark.com/mason/pennsylvania/Foreclosures/index.html
San Francisco Foreclosures: http://www.propertyshark.com/mason/san_francisco/Foreclosures/index.html
Seattle Foreclosures: http://www.propertyshark.com/mason/seattle/Foreclosures/index.html
Press may request a copy of the report by contacting Brian Scully at 718.408.4985.
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
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While New York City as a whole saw a 17% jump in foreclosures this month (and Staten Island was up particularly worrisome 49%), the number of foreclosures in Brooklyn was virtually unchanged versus last month and was about 40%...
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