Ulster County Foreclosure Numbers Low in Comparison

Posted by Murphy Realty Group on Tuesday, December 30th, 2008 at 7:20pm.

foreclosure_413Click here for a list of Ulster County Foreclosures

New York on a whole has foreclosure rates dropping across the board, both in this month compared to last month and this year compared to 07.  Compared to the rest of the state, Ulster County Foreclosures are among the lowest in New York at a mere 22 for November.  

The Five counties among the highest in foreclosure were responsible for 57 percent of all foreclosure activity in New York for the month of November. Queens County had 512 properties with foreclosure filings. Orange County came in at the state’s second highest total, reporting 312. Third place goes to Nassau County, reporting 252.  Kings County is fourth, reporting 236, making Suffolk County number 5 with 162 properties with foreclosure filings.

In November there were 2,601 total properties with foreclosure filings in New York State.  As staggering as that number may be, it is down 31 percent from October and down 55 percent from November of 07 according to the RealtyTrac U.S. Foreclosure Report.  The CEO of Realty Trac, James Saccacio, attributes the decline to the recent law that required extra notice to homeowners in regards to the foreclosure process.

Nationwide, New York is ranked 21st in the U.S.  in total properties with foreclosure filings for the month of November.  This number equates to a one in 3,040 homes receiving a foreclosure filing giving New York’s overall foreclosure rate a rank of 39th among the 50 states.

1 Response to "Ulster County Foreclosure Numbers Low in Comparison"

laurel sweeney wrote: Hi Lou, Good to know that we are in good shape here in Ulster County in reference to foreclosures. My gut told me that, but it's good to see it in statistics. I do see things gearing up for a great season in Real Estate in Ulster County. As a matter of fact the average sold price for single family homes decreased by about only 2% from 2007 to 2008, from $304,891 to $297,256 and the median sold price for single family homes decreased by only 4% from 2007 to 2008, from $255,720 to $245,000. So, with foreclosures at a minimum and pricing holding it's own, I feel we are in good shape. Also, with historically low interest rates and a nicely robust inventory, this is a terrific time for first time home buyers.
Hope all is well with you and your family, looking forward to seeing you soon. Laurel Sweeney

Posted on Thursday, January 8th, 2009 at 8:18pm.

Leave a Comment