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Find Distressed Home Foreclosures in New York Now

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By : John Cutts    99 or more times read
A report revealed that the number of foreclosure auction in New York City declined by as much as 32 percent during the last quarter of 2010 when compared to the figures of the same period in 2009 and 26 percent compared to the figures obtained for the third quarter of 2010. Buyers who want to find distressed home foreclosures to invest should certainly consider making a move now while inventory offers them many homes to choose from.

It was noted that there was one home out of 3,275 homes scheduled for a foreclosure auction or sale for the very first time. Foreclosed Queens properties, including Queens fixer uppers, actually accounted 49 percent. Meanwhile, in Brooklyn, the number of foreclosed homes up for grabs for the first time increased by 14 percent and 15 percent in Brooklyn compared to the third quarter of 2010.

But there was a decline in the number of first time New York distressed properties located in Manhattan and Staten Island. Based on 2009 figures, Manhattan dropped 36 percent, Brooklyn declined 14 percent and Staten Island was down 28 percent. Only Bronx increased by 6 percent for the said time frame.

With the fewer number of newly-foreclosed properties entering the market, it can be expected that many people will consider making real estate investments, particularly foreclosures. The smaller inventory will certainly mean having fewer choices, and serious buyers would want to grab the best deals off the market first.

Seasoned foreclosure buyers and investors have always utilized online foreclosure listings to find distressed home foreclosures. They are very much convenient and could save you a ton of money. if you are interested in a New York distressed property, simply look for an online listings provider and subscribe to access their database of repo properties for sale.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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