Feb Foreclosures: Downward Trend Continues
Last month Property Shark’s report on foreclosures said new scheduled foreclosure auctions and lis pendens were both down year-over-year in Brooklyn, and the same is true for the numbers the company has released covering February. New scheduled foreclosures were down 67 percent in February 2011 as compared to last year: There were 11 last month,…
Last month Property Shark‘s report on foreclosures said new scheduled foreclosure auctions and lis pendens were both down year-over-year in Brooklyn, and the same is true for the numbers the company has released covering February. New scheduled foreclosures were down 67 percent in February 2011 as compared to last year: There were 11 last month, as opposed to 33 in February ’10. Meanwhile, there were 337 lis pendens in Brooklyn last month as opposed to 341 last February, though that represents a slight uptick over January of this year, when there were 316. Citywide, the company says new scheduled foreclosures were down 82 percent in February year-over-year.
January Foreclosures: Not Much to See Here [Brownstoner]
It is my understanding that the sharp (unnatural) down-spike is due to blowback from the robo-signing and wrongful foreclosure scandals.
Though I could be wrong.
Actually I should specificity that a bit more, they go up early summer/late spring and then again in late summer/early fall.
It’s interesting they seem to shoot up during the summer months. I wonder why that is.
As rare as hen’s teeth in a prime neighborhood. Heck, most lis pendens in prime areas wouldn’t even be a short sale.