NEW MEXICO FORECLOSURES DECREASE 45 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Down 67 Percent From June 2006

 

IRVINE, Calif. – July 31, 2007 – New Mexico reported 178 foreclosure filings in June, a 45 percent decrease from the previous month and down 67 percent from the number reported in June 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

New Mexico foreclosures are down both in June and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Home price appreciation rate was down in the state by more than twice the national average last year. This, in addition to a low unemployment rate, is a contributing factor to the overall decline.”

 

Total foreclosures in the Land of Enchantment ranked 39th highest in the country for June. The state’s foreclosure rate of one foreclosure filing for every 4,385 households ranked it among the 10 lowest states.

 

Bernalillo County leads in foreclosure activity for June

Bernalillo County led the state in foreclosure activity for June, reporting 71 foreclosure filings. Dona Ana County reported the second highest county total with 24 filings. Santa Fe County came in third with 21 filings, and Sandoval County came in a close fourth with 20 filings in the foreclosure pipeline.

 

Highest foreclosure rate reported in Chaves County

Chaves County posted the highest foreclosure rate in the state, one foreclosure filing for every 1,710 households — 2.6 times the state average. Sandoval County registered the second highest rate in the state, one foreclosure filing for every 1,743 households — 2.5 times the state average. Third highest foreclosure rate was reported in Valencia County, one foreclosure filing for every 2,464 households — 1.8 times the state average.

 

State make minor contribution to national total

Total foreclosure filings in New Mexico accounted for less than 1 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                      New Mexico Foreclosure Market by County – June 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

New Mexico

0

0

7

145

26

178

4,385

0.16

n/a

 

 

 

 

 

 

 

 

 

 

Bernalillo

0

0

1

61

9

71

3,367

0.21

1.30

Chaves

0

0

0

14

1

15

1,710

0.41

2.56

Colfax

0

0

0

0

0

0

n/a

0.00

0.00

Dona Ana

0

0

3

19

2

24

2,717

0.26

1.61

Eddy

0

0

1

6

0

7

3,187

0.22

1.38

Grant

0

0

0

0

0

0

n/a

0.00

0.00

Hidalgo

0

0

0

0

0

0

n/a

0.00

0.00

Lea

0

0

0

1

0

1

23,405

0.03

0.19

Lincoln

0

0

0

4

0

4

3,825

0.18

1.15

Los Alamos

0

0

0

1

0

1

7,937

0.09

0.55

Luna

0

0

0

0

0

0

n/a

0.00

0.00

Mora

0

0

0

0

0

0

 n/a

0.00

0.00

Otero

0

0

0

1

0

1

29,272

0.02

0.15

Rio Arriba

0

0

0

1

0

1

18,016

0.04

0.24

San Juan

0

0

0

0

0

0

n/a

0.00

0.00

San Miguel

0

0

1

0

0

1

14,254

0.05

0.31

Sandoval

0

0

0

12

8

20

1,743

0.40

2.52

Santa Fe

0

0

1

16

4

21

2,748

0.26

1.60

Socorro

0

0

0

0

1

1

7,808

0.09

0.56

Taos

0

0

0

0

0

0

n/a

0.00

0.00

Torrance

0

0

0

0

0

0

n/a

0.00

0.00

Valencia

0

0

0

9

1

10

2,464

0.29

1.78

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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