Foreclosure auctions in new york city,hud senior housing san antonio tx,foreclosures in aptos ca,foreclosure lawyer dallas - 2016 Feature

25.04.2016
Low-priced condo units and residential properties are available in foreclosure auctions in New Jersey, which affect regular property sales. Foreclosed homes in Newark and in the rest of the state have taken a huge chunk out of newly-built and non-foreclosed residential property sales since the start of the real estate meltdown. Despite the uptick in condo sales, realtors have been reluctant to declare the transactions as signs that the market is starting to recover, with most of them very much aware of the oversupply of low-priced foreclosed homes in New Jersey that are likely to continue to take away market share from the non-foreclosed property market.
Some market analysts have explained the surge in activities as buyers' way of taking advantage of the low mortgage rates.
Analysts stated that the rise in rental rates and the absence of incentives in the rental property market have driven most investors and property buyers to ownership, with more of them making purchases at foreclosure auctions and non-foreclosed sales. In the third quarter of 2010 there were 61 properties scheduled for the first time for a foreclosure auction, down 18% from the same quarter in 2009. There were a total of 4,162 residential pre-foreclosure filings in New York City (all boroughs) in Q3 2010.
The number of NYC properties with a lis pendens filed against it last month increased 18% in August 2010 (1,516) from July 2010 (1,288).
New foreclosures in Brooklyn totaled 20 in August 2010, one in every 44,036 households being scheduled for auction. In August 2010, there were 228 properties scheduled for foreclosure auction for the first time in New York City (all boroughs).
In July 2010, new scheduled foreclosure auctions in New York City (all boroughs) decreased 41% compared to the same month in 2009. The number of new scheduled foreclosure auctions in NYC (93) registered a 65% decrease in April 2011 compared to April 2010 (265), and a 12% decrease compared to March 2011 (106). Compared to March 2011, Brooklyn foreclosures were down 54% and the number of new Staten Island foreclosures decreased 20%.
Scheduled auctions for coop units registered the biggest change, jumping 253% over April 2010 from 19 to 67 scheduled auctions.


CHICAGO - The Chicago region saw the highest year-over-year growth in completed foreclosure auctions since the beginning of the foreclosure crisis, new 2012 data from Woodstock Institute show. The vast majority of properties sold at auction become lender-owned, or real estate owned (REO), and are likely vacant.
Concentration of Foreclosure Auctions by Census Tract for 2012 (click for a high resolution version).
Woodstock Institute also examined the accumulation of completed foreclosure auctions from 2008 to 2012 and found that, in 20 Chicago community areas, more than 1 in 10 mortgageable properties completed the foreclosure process. Foreclosure auction activity grew substantially throughout the Chicago region from 2011 to 2012.
Completed foreclosure auctions in 2012 reached the highest level since the start of the housing crisis. The rate of new foreclosure filings remained relatively stable across the region, but the growth trend in low-wealth communities noted in Woodstock’s previous report continues.
South Cook County experienced the largest increase in new foreclosures from 2011 to 2012, growing by 13.7 percent from 2011 to 2012. However, the last few weeks have shown a strengthening in the condominium market, with non-foreclosed units getting sold in various areas.
However, recent reports showed that areas like Jersey City are recording increased activities in the condominium market.
Although they do not expect the higher number of sales completed in February to continue for the rest of the year, most local real estate agents are grateful for the surge, particularly since the condo industry has been suffering from very slow sales in the past year. According to them, people are trying to get hold of properties in both non-foreclosed and foreclosure auctions markets before rates inch higher than 5%.
It is highly likely that they expect prices to rise soon and buying homes in foreclosure and purchasing regular real estate properties to pick up as the economy starts to improve. Market observers stated that tax benefits offered to property buyers also played a role in the surge in sales.


Together with Staten Island, the Bronx was one of only two boroughs in New York City that also registered a decrease in the number of new scheduled foreclosure auctions (41%) compared to the second quarter of the current year. Read foreclosure and pre-foreclosure stats, insights into the foreclosure process and interesting auctions. Manhattan foreclosures were up 4%, Queens saw a 3% increase (34) and the number of new scheduled foreclosures remained level in the Bronx (19).
Foreclosure auctions, which signal the completion of the foreclosure process, grew by 73.8 percent in the Chicago six county region from 20,281 auctions in 2011 to 35,244 auctions in 2012.
Mortgageable properties are owner-occupied properties or properties that can qualify for single-family mortgages. The 35,244 auctions experienced in 2012 is the highest number of foreclosures the region has seen in a single year since 2008.
In the Chicago six county region, new foreclosure filings in 2012 increased by only 2.9 percent over 2011’s high level of filing activity (up from 64,877 to 66,783).
Filings in Will County grew by 13 percent from 2011 to 2012 and filings in McHenry County grew by 8.1 percent over the same period. A total of 15 sales were closed in one city building in February while another six were recorded in another. Transactions in the segment showed that around 60% of those who purchased units work in the financial markets. Some also cited the growth in the rental property market, with vacancy rate in the state declining to as low as 6% in the past few months. Significant increases in filings were seen in communities that experienced high levels of foreclosure in 2007-2008, but declines from 2009-2011.




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