Foreclosures 40% Higher In Long Island
Posted in Foreclosure Rates, by Courtney Allen
Photo by Ralphunden
The monthly report of leading real estate data site, PropertyShark.com has shown the residential foreclosure situation in Long Island (Suffolk County, Nassau County), for the month of June 2008. The report has revealed some important facts;
- In Long Island, numbers of foreclosed homes have reached 693 homes in Q2 2008, which is 40% higher than that of the last year.
- Nassau County is far behind compared to Suffolk County. In Q2 2008, Nassau County has shown a rise by 14% over last year, while another has experienced a shocking 102% rise over that of 2007.
- In Long Island, the rate of foreclosed property per household has reached 0.069% in Q2 2008.
- The foreclosure rate per household is the highest in the town of Hempstead. 1 in every 833 households was subject to an auction in Q2 2008, which is almost double over the same period in 2007.
Ashleigh Rose Clark, the Data Acquisition Manager of PropertyShark.com is shocked to see the rate of foreclosed real estate property in Long Island which is actually higher than the level in Queens.
Nassau County Foreclosure Statistics
In Q2 2008, the county has touched a one year high of 392 homes. It is a rise of 95% over Q1 and by 14% over Q2 2007. In the Town of Hempstead, the number is 291 homes, which is almost 74% of the total number of foreclosed homes in the county. It is in the number one position among all the towns. The town of Oyster Bay (52) and the town of North Hempstead (34) are in second and third position accordingly in respect of the total number of foreclosed properties. Mostly, it is the single family homes that are under threat of foreclosure auction.
Suffolk County Foreclosure Statistics
In this county, 301 cases of new auctions have been scheduled in Q2 2008, and the number is 9% lower than the first quarter’s 155 homes. However, this figure is a hike of over 102% than Q2 2007. In Q2 last year, the number was just 198 homes.
Brookhaven is in the number one position among all the towns of the county as the number of foreclosed properties in this town is 152 homes, although this is lower by 9% from Q1 this year. Islip and Huntington are in 2nd and 3rd position respectively. In Islip, the number of auctions scheduled is 56 auctions and in Huntington, it is 32 auctions.
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[...] to this condition, the non-distressed sales situation in 2012 in cities such as Los Angeles, Long Island, Chicago and San Jose will improve. Nondistressed sales in Los Angeles will be expected to improve [...]
[...] to this condition, the non-distressed sales situation in 2012 in cities such as Los Angeles, Long Island, Chicago and San Jose will improve. Nondistressed sales in Los Angeles will be expected to improve [...]
[...] to this condition, the non-distressed sales situation in 2012 in cities such as Los Angeles, Long Island, Chicago and San Jose will improve. Nondistressed sales in Los Angeles will be expected to improve [...]
[...] to this condition, the non-distressed sales situation in 2012 in cities such as Los Angeles, Long Island, Chicago and San Jose will improve. Nondistressed sales in Los Angeles will be expected to improve [...]
[...] to this condition, the non-distressed sales situation in 2012 in cities such as Los Angeles, Long Island, Chicago and San Jose will improve. Nondistressed sales in Los Angeles will be expected to improve [...]