New Mexico Foreclosure Activity Falls in July

Statewide foreclosure filings down 1 percent from June

 

Foreclosure activity in New Mexico decreased 1 percent in July to 1,292 properties with foreclosure filings, but is 47 percent above the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“New Mexico foreclosure activity slowed down slightly in July, though it remained well above the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within New Mexico also appears to be improving slightly, recently dropping to 8.2 percent and possibly signaling a trend toward economic recovery for the state.”

 

The state reported the 24th highest state foreclosure rate, as one in every 675 New Mexico housing units received a foreclosure filing during the month.

 

Sandoval County posts top county foreclosure rate in July

Sandoval County posted the top foreclosure rate in New Mexico for the month, with one in every 187 housing units receiving a foreclosure filing in July. Bernalillo County posted the second highest foreclosure rate, with one in every 389 housing units receiving a foreclosure filing during the month. Coming in third was Valencia County, where one in every 576 housing units received a foreclosure filing in July.

 

Bernalillo County had top foreclosure total for July

Bernalillo County led the state in total foreclosure activity, reporting 718 properties with foreclosure filings in July. Second highest foreclosure total was in Sandoval County, reporting 268 properties with foreclosure filings. Santa Fe County came in third highest, tallying 104 properties with foreclosure filings. Fourth highest was Dona Ana County, where 75 properties with foreclosure filings were reported. Valencia County was fifth, reporting 47 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

New Mexico accounted for less than 1 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month but was down almost 10 percent from the level reported in July 2009. One in every 397 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

 

New Mexico Top Foreclosure Rates by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

New Mexico

0

688

0

348

256

1,292

675

0.59

n/a

 

 

 

 

 

 

 

 

 

 

Sandoval

0

142

0

76

50

268

187

2.13

3.61

Bernalillo

0

411

0

160

147

718

389

1.02

1.73

Valencia

0

33

0

8

6

47

576

0.69

1.17

Santa Fe

0

42

0

45

17

104

618

0.64

1.09

Dona Ana

0

55

0

8

12

75

1,038

0.38

0.65

 

 

New Mexico Top Foreclosure Totals by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

New Mexico

0

688

0

348

256

1,292

675

-0.92

47.32

 

 

 

 

 

 

 

 

 

 

Bernalillo

0

411

0

160

147

718

389

12.72

74.27

Sandoval

0

142

0

76

50

268

187

54.91

78.67

Santa Fe

0

42

0

45

17

104

618

-35.40

-3.70

Dona Ana

0

55

0

8

12

75

1,038

-29.25

15.38

Valencia

0

33

0

8

6

47

576

4.44

-12.96

 

 

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