National, Capital Region foreclosures up in April

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The Capital Region mirrored national foreclosure trends with an uptick in activity last month, according to the latest figures from RealtyTrac, a California firm that tracks foreclosures.

Default notices, scheduled auctions and bank repossessions were reported on 125,875 properties across the U.S. in April, an increase of 3 percent from the previous month and 9 percent from the same month last year. Foreclosure experts say the uptick is a continuation of the clean-up phase of the last housing crisis, not the start of a new one.

“While distressed sales typically have a stifling effect on the housing market, in this particular market an influx of distressed inventory could actually help stimulate sales during the spring and summer buying season as new listings become available, often in the middle to lower ranges of the market,” said RealtyTrac Vice president Daren Blomquist in a news release.

Foreclosure activity was up across the Capital Region.

• Albany County reported 93 foreclosure filings in April, up 52.5 percent from March and 36.8 percent from one year earlier.

• Fulton County reported 33 foreclosure filings in April, up 312.5 percent from March and 175 percent from one year earlier.

• Montgomery County reported 17 foreclosure filings in April, up 240 percent from March and 112.5 percent from one year earlier.

• Saratoga County reported 76 foreclosure filings in April, up 31 percent from March and 68.9 percent from one year earlier.

• Schenectady County reported 23 foreclosure filings in April, flat from March and up 64.3 percent from one year earlier.

• Schoharie County reported 12 foreclosure filings in April, up 20 percent from March and 71.4 percent from one year earlier.

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Categories: Business