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What you need to know for 08/22/2017

Sales of foreclosed homes on the rise

Sales of foreclosed homes on the rise

Tthe number of foreclosure sales in the Capital Region rose in the third quarter from the previous q

Sales of U.S. homes in some stage of foreclosure increased 21 percent from the second quarter to the third quarter this year, according to the latest report from RealtyTrac.

In total, 193,059 of those homes were sold between July 1 and Sept. 30, a drop in sales from the same period in 2011.

Locally, the number of foreclosure sales in the Capital Region rose in the third quarter from the previous quarter. Year-over-year sales varied by county.

Albany County homes that sold while in some stage of foreclosure increased 56 percent, from 16 in the second quarter to 25 in the third. That was a 39 percent increase from the third quarter of 2011. The average sales price of these homes rose to $170,207.

In Schenectady County, 20 homes in some stage of foreclosure were sold during the third quarter, a 100 percent increase from the previous quarter and a 67 percent increase from the same time last year. The average sales price was $135,505.

In Saratoga County, 15 homes were sold that were in some stage of foreclosure in the third quarter, a 6 percent drop from the previous quarter but a 7 percent increase from the same period last year. The average sales price was $177,574.

In Montgomery County, one home was sold during the foreclosure process in the third quarter — the same as the second quarter and a 50 percent drop from the same time last year.

There were no foreclosure sales in Fulton or Schoharie counties in the third quarter.

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