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80 Connecticut Planet Realty, LLC Sales@CTREOTEAM.com 203-982-4985 cell www.CTREOTEAM.com Security • Preservation • Disposition Steve Rivkin Queens, despite a 16% decrease in foreclo- sures in Q 3 2019, still had the most foreclo- sures among the 5 boroughs. PropertyShark found that 272 properties went to auction in Q 3, and the 1434 zip-code, encompassing Jamaica, South Jamaica, Rochdale, and St. Albans neighborhoods, had 23 new foreclo- sure cases—the most in the borough. Pre-foreclosure throughout the entirety of New York City was up just 4%, with a total of 2,391 properties in the pre-foreclosure process in Q 3 2019. Manhattan led pre-foreclosure activity with a 19% increase, followed by Bronx and Staten Island. Brooklyn had a 10% increase, while Queens saw a 13% dip. Brooklyn had a total of 856 properties in the pre-foreclosure stage in the third quarter of 2019, Queens 720, and Staten Island 353. A recent article in the New York Post drew comparisons between New York's struggles and those of California, and suggested that the Empire State should look to California for solutions. e Post said compared to New York's "misguided policies," California has con- ducted a debate on the issue and has taken "sensible steps" to alleviate the challenges. California legislators have also advocated for accessory dwelling units, or additional units within existing homes on lots zoned for single-family properties. Studying the Affordability Crisis Across America A New York city leader said in a report that America is "failing badly" to provide access to homeownership. Commentary from city leaders of Min- nesota and New York said that all Americans should have access to homeownership, but "we are failing badly" at achieving this ideal, according to insight from City Lab. "In Brooklyn and Minneapolis, where we are city council members, skyrocketing prices push families out of the neighborhoods where they've lived for years," the commentary said. "It's impossible for young people to find a place to rent, much less own. Homelessness is at record levels, and in cities like Detroit, as many as one in five renters face eviction, part of a nationwide eviction epidemic." e authors of the piece—Lisa Bender, President of the Minneapolis City Council and Brad Lander, Deputy leader for policy for the New York City Council—are mem- bers of Local Progress and last week began a three-day event in Durham, North Carolina, to address housing issues. Local Progress is a national network of "progressive elected officials" from cities and other local governments across the country. "Seventy years ago, the Housing Act of 1949 set the goal "of a decent home and a suitable living environment for every Ameri- can," but it has been decades since Wash- ington was of any real help on affordable housing," the authors wrote. e commentary adds that the removal of exclusionary zoning and building more hous- ing is necessary to address the "imbalance of supply and demand," but alone will not solve for displacement and eviction. A report by the Los Angeles Times re- veals that single-family zoning in California will soon be a thing of the past, as legislation is making it easier for homeowners to convert garages into residential spaces and freestand- ing homes. "We're on the precipice of single-family zoning functionally not existing," said Ben Metcalf, former Director of the state's Department of Housing and Community Development. Durham, North Carolina, in September amended ordinances for higher density, "un- doing decades-old vestigaes" of discrimina- tion that have prevented African-Americans from owning homes. e ordinance, known as "Expanding Housing Choices," amends zoning rules in areas near downtown to allow for higher density. City and county planners believe this could stabilize home prices as the market grows. Oregon's HB 2001 went into effect on August 8, and mandates that cities with a population of more than or equal to 25,000 to allow middle-housing types on lots previ- ously earmarked for the development of detached single-family housing. NEW YORK A Slice of Foreclosure Activity in the Big Apple First-time foreclosures in New York City stagnated in Q 3 2019, with only a 1% uptick year-over-year, according to a new report from PropertyShark. However, some boroughs saw significant increases, including in Manhattan. Manhattan foreclosure cases were up 118% year-over-year, while Staten Island cases increased by 183%. Despite the large spike in Manhattan, the number of properties foreclosed only increased from 22 to 48 com- pared to the same period year. Meanwhile, foreclosure activity in the Bronx dropped by 51%, while Queens saw a 10% dip in unique cases year-over-year. Of the 48 cases this quarter in Manhattan, 25 of foreclosures were mortgage foreclosures. Only once in the past cycle has Manhattan had more foreclosures than in Q 3 2019, and that was in Q 4 2016. Additionally, pre- foreclosures increased 13% year-over-year in the borough. Pennsylvania The Team with More than 10 Years' REO Experience Emma Djiya, Broker 1st Class Realty 98 Forest Drive, Lords Valley, PA 18428 610.301.8803 (c) 570.775.6110 (o) 1stClassREO@gmail.com AroundThePoconos.com New York Prince & Associates Realty Group Serving Suffolk and Nassau Counties 631.252.9539 princeaar.com Angela Prince Distressed Property Real Estate Broker

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