BY ARIEL HERNANDEZ
Property Shark, one of the largest real estate data sources, released its stats on first-time residential foreclosures for October 2016, which show that although Queens still has the highest number of properties scheduled, Queens was also the only borough to see a drop after months of very high foreclosure activity.
New York City has a total of 168 foreclosures, with 17 in Manhattan and no change as of the previous month; 35 in the Bronx and a 10 percent decrease as of the previous month; 41 in Brooklyn and a 15 percent decrease as of the previous month; 16 in Staten Island and a 7 percent increase as of the previous month; and 59 in Queens with a 28 percent decrease as of the previous month.
The findings for Queens are as follows: Jamaica, South Jamaica, Hollis and St. Albans (zip codes 11434, 11433, 11412, 11413, 11436 and 11435) have a total of 19 foreclosures; the Rockaways and Broad Channel (zip code 11691, 11692 and 11694) have a total of seven foreclosures; Woodhaven, Richmond Hill and Kew Gardens (zip code 11419, 11421, 11418 and 11416) have a total of nine foreclosures; Elmhurst and Corona (zip code 11368) has three foreclosures; Flushing, Whitestone and College Point (zip code 11354 and 11356) have a total of three foreclosures; Fresh Meadows, Kew Gardens Hill and Jamaica Hills (zip code 11423 and 11366) have a total of three foreclosures; Rego Park and Forest Hills (zip code 11375) has two foreclosures; Woodhaven, Richmond Hill and Kew Gardens (zip code 11421, 11418 and 11416) have a total of five foreclosures; the Rockaways and Broad Channel (zip code 11692 and 11694) have a total of three foreclosures; Laurelton, Cambria Heights, Queens Village and Glen Oaks (zip codes 11422, 11428 and 11411) have a total of four foreclosures; Bayside, Douglaston, Little Neck and Auburndale (zip code 11364) has two foreclosures; Sunnyside and Woodside (zip code 11104) has one foreclosure; Maspeth, Middle Village, Ridgewood and Glendale (zip codes 11385 and 11379) have a total of two foreclosures; Astoria and Long Island City (zip codes 11102 and 11105) have a total of two foreclosures; Howard Beach, Ozone Park and South Ozone Park (zip code 11420) has one foreclosure; and Jackson Heights, East Elmhurst and North Corona (zip code 11372) has one foreclosure.
Jamaica, South Jamaica, Hollis and St. Albans were registered as having the highest number of properties scheduled, resulting in Southeastern Queens’ continuing as the area with the highest foreclosure activity.
In June this year, Queens had 129 properties registered as foreclosure, which resulted in July’s Foreclosure Buyback Program by council members Donovan Richards (D-Laurelton), Ruben Wills (D-Jamaica) and I. Daneek Miller (D-St. Albans). The program was made specifically to prevent foreclosure, to financially assist those in danger of being kicked out of their homes, and to extinguish the effects of the “Zombie House” epidemic, all of which they would do with the help of nonprofits and investments from the city government.
“Since 2008 many families around the country, especially in Southeast Queens, have been ravished and devastated by the foreclosure crisis,” said Miller. “Over the last two years there have been 27,000 foreclosures in the city of New York, one third of which has occurred in Southeast Queens. The impact that has on neighboring homes is obvious as it is as devastating.”
Not only did local elected officials step up to target the foreclosure problem in Queens, but Governor Andrew Cuomo introduced legislation to mandate new pre-foreclosure duties requiring banks to maintain abandoned homes for as long as they remain vacant or face significant fines.
To view Property Shark’s updates on foreclosure, visit its website propertyshark.com
Reach Ariel Hernandez at (718) 357-7400 x144 or firstname.lastname@example.org