Foreclosures rise in some Boston neighborhoods
The good people at The Warren Group were kind enough to send along some detailed foreclosure information for neighborhoods within Boston.
According to them, here’s how the first quarter looked, in Boston.
| Allston | 2007 | 2008 |
| YTD petitions to foreclose | 4 | 5 |
| YTD auctions | 1 | 9 |
| YTD foreclosures | 1 | 3 |
| Boston* | 2007 | 2008 |
| YTD petitions to foreclose | 23 | 45 |
| YTD auctions | 12 | 12 |
| YTD foreclosures | 5 | 3 |
| Brighton | 2007 | 2008 |
| YTD petitions to foreclose | 7 | 22 |
| YTD auctions | 4 | 7 |
| YTD foreclosures | 2 | 1 |
| Charlestown | 2007 | 2008 |
| YTD petitions to foreclose | 6 | 12 |
| YTD auctions | 2 | 4 |
| YTD foreclosures | 0 | 1 |
| Dorchester | 2007 | 2008 |
| YTD petitions to foreclose | 253 | 326 |
| YTD auctions | 169 | 257 |
| YTD foreclosures | 51 | 171 |
| East Boston | 2007 | 2008 |
| YTD petitions to foreclose | 44 | 85 |
| YTD auctions | 20 | 28 |
| YTD foreclosures | 5 | 22 |
| Jamaica Plain | 2007 | 2008 |
| YTD petitions to foreclose | 17 | 39 |
| YTD auctions | 14 | 20 |
| YTD foreclosures | 3 | 6 |
| Mattapan | 2007 | 2008 |
| YTD petitions to foreclose | 55 | 83 |
| YTD auctions | 42 | 61 |
| YTD foreclosures | 10 | 19 |
| Roslindale | 2007 | 2008 |
| YTD petitions to foreclose | 34 | 54 |
| YTD auctions | 23 | 27 |
| YTD foreclosures | 6 | 22 |
| Roxbury | 2007 | 2008 |
| YTD petitions to foreclose | 65 | 73 |
| YTD auctions | 30 | 59 |
| YTD foreclosures | 7 | 31 |
| South Boston | 2007 | 2008 |
| YTD petitions to foreclose | 26 | 39 |
| YTD auctions | 8 | 20 |
| YTD foreclosures | 6 | 9 |
| West Roxbury | 2007 | 2008 |
| YTD petitions to foreclose | 24 | 24 |
| YTD auctions | 9 | 12 |
| YTD foreclosures | 4 | 4 |
* “Boston” is defined as Downtown, Back Bay, South End, North End and the Waterfront.
“Petitions to foreclose” are when the bank sends you a letter saying you’re at least 30 days past due. “Foreclosure” is when the bank says you gotta vacate (and it has the option of evicting you, anytime after that). “Auction” is the bank selling “your” home.
And, from the Globe’s real estate blog, more analysis:
Boston already has recorded 306 foreclosures this year, far more than any other Massachusetts city. But it doesn’t make this list [of most foreclosures per 1,000 residents]. Boston ranks 35th, between Framingham and Whitman. The city’s problems just aren’t that large relative to its size.
Boston’s problems are concentrated in Dorchester. If Dorchester was (still) a city, the 171 foreclosures within its limits would top the state list, more than in the rest of Boston combined, and just more than the 166 foreclosures in second-place Worcester.
95 cities and towns have yet to record a foreclosure in 2008. Brookline is the largest, followed by Lexington and Winchester.
Source: The Warren Group
Also: Foreclosures plague second-tier cities - Boston.com