The Real Estate of Staten Island: Things to Know

Staten Island, a borough of New York City, is located in the heart of the harbor. It's the most suburban of the five boroughs, but that doesn't mean there's nothing to do. In fact, Staten Island has plenty of activities for locals and visitors alike.

The Staten Island Zoo is a great place to start. The zoo is home to over 500 animals, including lions, tigers, and bears. There's also a petting zoo for the kids. If you're looking for something a little more active, head to the Staten Island Greenbelt, a 2,800-acre park that includes hiking trails, biking paths, and horseback riding trails.

For a taste of local culture, check out the Staten Island Museum. The museum has exhibits on the borough's history, art, and science. And if you want to get out on the water, Staten Island is home to several marinas.

Whether you're looking for a quiet place to relax or an exciting place to explore, Staten Island real estate has something for everyone. Come and see what this borough has to offer.

Staten Island Real Estate Market

The real estate market on Staten Island is interesting because there are both high-priced and low-priced homes available. There are also a variety of different types of housing, from single family homes to townhouses to apartments. The average price for a home on Staten Island is about $360,000, but prices can range from under $200,000 to over $1 million.

Staten Island is a great place to live if you're looking for a slower pace of life than what you find in the other boroughs of New York City. There are plenty of parks and green spaces to enjoy, and the beaches are some of the best in the city. Staten Island also has a number of excellent schools, both public and private.

If you're thinking of moving to Staten Island, be sure to contact a reputable Staten Island realtor who can help you find the perfect home for your needs.

What is Foreclosure and How Does It Work?

What is foreclosure? Foreclosure is the legal process by which a lender, typically a bank or mortgage company, recovers possession of a property when the borrower defaults on their loan. This can happen when the borrower stops making payments, goes into default, or files for bankruptcy.

When a property is in foreclosure, the bank or mortgage company will typically hire a real estate agent to list the property and sell it at auction. The proceeds from the sale will go towards paying off the outstanding loan balance. If the sale does not cover the entire balance, the borrower may be responsible for the remaining debt.

Foreclosure can be a lengthy and complicated process, so it's important to understand your rights and options if you're facing foreclosure. If you're behind on your mortgage payments, or are at risk of foreclosure, there are a number of things you can do to try to avoid or delay the process. You may be able to negotiate with your lender to come up with a repayment plan, sell your property before it goes into foreclosure, or file for bankruptcy.

Foreclosure can have a major impact on your credit score and your ability to obtain future financing, so it's important to understand the process and know your rights. If you're facing foreclosure, there are a number of resources available to help you navigate the process and protect your rights.

You can speak with a housing counselor, lawyer, or real estate agent to get more information and learn about your options. You can also find helpful resources on the website of the U.S. Department of Housing and Urban Development (HUD).

Homes Foreclosure in Staten Island

In Staten Island, New York, the foreclosure crisis is worsening. According to the website PropertyShark, in the first quarter of 2018, 1,005 homes were in some stage of the foreclosure process, up from 958 in the fourth quarter of 2017. That's a 6 percent increase in a mere three months.

The data also showed that Staten Island homes in foreclosure auctions were up 14 percent in the first quarter of 2018, compared to the fourth quarter of 2017. In other words, more and more homes are being seized by the bank and put up for sale.

And it's not just Staten Island. Across New York City, foreclosure filings were up 3 percent in the first quarter of 2018, compared to the fourth quarter of 2017.

The foreclosure crisis is hitting New York hard, but it's not the only place where foreclosures are on the rise. According to RealtyTrac, a website that tracks foreclosures, they were up 8 percent in the first quarter of 2018, compared to the fourth quarter of 2017.

And it's not just a one-quarter blip. RealtyTrac's data shows that foreclosure filings have been on the rise for the past few years. In fact, they're now at their highest level since 2013.

So why are foreclosures on the rise? There are a few factors at play.

First, the job market is tight, which means that people are having a harder time finding work and keeping up with their mortgage payments.

Second, home prices have been rising faster than wages, which makes it difficult for people to buy a home or keep up with their current mortgage payments.

And third, the tax code has changed, which means that people are less likely to itemize their deductions and more likely to take the standard deduction. This means that they're less likely to deduct their mortgage interest, which can make it harder to afford their mortgage payments.

The combination of these factors is causing foreclosures to rise, and it's a trend that's likely to continue in the coming months and years. So if you're struggling to keep up with your mortgage payments, you're not alone. And if you're at risk of foreclosure, now is the time to get help. There are a number of programs available that can help you keep your home, so don't wait until it's too late.