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A report released by a research company revealed a 32 percent decline in the number of New York foreclosure auctions from 2009. Bargain hunters are scrambling to find distressed home foreclosures after hearing such news.

Distressed REO and foreclosure numbers are expected to rise in New York in the coming months. Housing advocates are lobbying for more state government support.

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In comparison with the other states New York did not affected hugely by the foreclosure situation that was experienced by some states such as California and Nevada

Foreclosed residential properties in New York remained low last month compared with most U.S. states. The region was ranked 43rd in terms of foreclosure rate.

It's common knowledge that New York City's real estate industry has been surging in recent months, but the Big Apple isn't the only part of the Empire State where the housing market is showing signs of recovery.

The Chatwal New York is the first hotel in a new chain of luxury properties opened by American-Indian entrepreneur Sant Singh Chatwal. The landmark building was once home to the famous Lambs Club, America's first professional theatre club.

People involved in foreclosure investing are taking note of increased attention given by authorities to housing codes in New York City. An initiative designed to identify violators has been launched.

Fewer pre repo properties and other residential property types were sold in some areas of New York last month. However, prices are up in most local markets.

REO properties and foreclosures remain a problem in New York and labor unions have weighed in on the issue. They reportedly made an offer to JPMorgan Chase.

Bank repossessed property for sale and regular homes posted positive sales figures in some areas of New York. Data for February showed sales up in some markets.

Foreclosure property at auctions is still a major concern in New York and housing advocates are calling for more help. They are campaigning for state funds.

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The U.S. government tax credit provided some market stability during the 2010 first half when home buying escalated as buyers take advantage of the offer. In New York, a new rule is expected to temporarily lower foreclosure numbers.

Freddie Mac homes and foreclosure numbers may rise in New York City in the coming years. Some analysts stated that the crisis hit the city later than others.

Buyers who are looking to find a repo home in New York should do so with caution. It would be wise to check the area you are willing to live in to make the buy worth the trouble.