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What you need to know for 04/24/2017

Despite national decline, foreclosures still a local issue

Despite national decline, foreclosures still a local issue

For the most part, the Capital Region and New York state have defied national foreclosure trends for

For the most part, the Capital Region and New York state have defied national foreclosure trends for the first half of the year.

While national foreclosure rates were going down, state and local rates were going up — in the first six months of 2013 compared with the last six of 2012, in the second quarter of 2013 compared with the second quarter of 2012, and in June 2013 compared with June 2012.

“Halfway through 2013, it is becoming increasingly evident that while foreclosures are no longer a problem nationally, they continue to be a thorn in the side of several state and local markets, particularly where a backlog of delayed distress has built up thanks to a lengthy foreclosure process,” said Daren Blomquist, vice president of RealtyTrac, a California firm that tracks foreclosures nationwide.

In its midyear 2013 U.S. market report, RealtyTrac released foreclosure data including default notices, scheduled auctions and bank repossessions from June, the second quarter of 2013 and the first half of 2013.

Schenectady County was the only county in the Capital Region to see a drop in foreclosure filings in the first six months of 2013 compared with the last six months of 2012 — a 16.7 percent decrease. The 80 filings in the first half of 2013 represented a 3.9 percent increase from the first half of 2012, however.

Elsewhere in the Capital Region:

• Albany County had 365 foreclosures in the first half of 2013, up 12.7 percent from the last half of 2012 and 10.6 percent from the first half of 2012.

• Fulton County had 116 foreclosures in the first half of 2013, up 46.8 percent from the last half of 2012 and 170 percent from the first half of 2012.

• Montgomery County had 119 foreclosures in the first half of 2013, up 142 percent from the last half of 2012 and 92 percent from the first half of 2012.

• Saratoga County had 305 foreclosures in the first half of 2013, up 35 percent from the last half of 2012 and 109 percent from the first half of 2012.

• Schoharie County had 56 foreclosures in the first half of 2013, up 80.6 percent from the last half of 2012 and 600 percent from the first half of 2012.

Zooming in to a three-month snapshot, foreclosure activity increased across the Capital Region in April, May and June:

• Albany County had 194 foreclosures, up 13.5 percent from the first quarter and 8.4 percent from one year earlier.

• Fulton County had 55 foreclosures, unchanged from the first quarter but up 96 percent from one year earlier.

• Montgomery County had 111 foreclosures, up 1133 percent from the previous quarter and 208 percent from one year earlier.

• Saratoga County had 153 foreclosures, up 0.7 percent from the previous quarter and 96 percent from one year earlier.

• Schenectady County had 49 foreclosures, up 36.1 percent from the previous quarter and 11.4 percent from one year earlier.

• Schoharie County had 33 foreclosures, up 43.5 percent from the previous quarter and 371 percent from one year earlier.

Zooming in further to just the month of June, the Capital Region experienced varied foreclosure activity:

• Albany County had 89 foreclosures, up 102 percent from May and 65 percent from June 2012.

• Fulton County had 15 foreclosures, up 7.1 percent from May and 36 percent from June 2012.

• Montgomery County had 24 foreclosures, up 26 percent from May and 4.4 percent from June 2012.

• Saratoga County had 47 foreclosures, down 6 percent from May but up 62 percent from June 2012.

• Schenectady County had 12 foreclosures, down 48 percent from May and 20 percent from June 2012.

• Schoharie County had nine foreclosures, unchanged from May but up 50 percent from June 2012.

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