NEW MEXICO FORECLOSURE ACTIVITY UP 106 PERCENT IN APRIL

Foreclosure Activity Up 100 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 713 New Mexico properties in April, a 106 percent increase from the previous month, and 100 percent above the level reported for April 2008, 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 1.5 million properties from over 2,200 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 up both in April and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “While unemployment has remained low, the state’s home sales have fallen much further than the national average during the past year. This is most definitely contributing to the rise in foreclosure activity.”

 

New Mexico ranked 36th in the country in total foreclosures reported for the month. With one in every 1,209 housing units receiving a foreclosure filing, its foreclosure rate ranked 33rd among the 50 states.

 

Five counties account for bulk of state foreclosure activity in April

Bernalillo County led the way, reporting 373 properties with foreclosure filings for the month. Sandoval County reported 88 properties with foreclosure filings, the state’s second highest county total. Santa Fe County came in third highest, reporting 80 properties with foreclosure filings. Dona Ana County came in fourth, documenting 50 properties with foreclosure filings, while the fifth highest total was in Chaves County, where 26 properties with foreclosure filings were reported for the month.

 

Sandoval County posts state’s highest foreclosure rate for April

Sandoval County topped the list, with one in every 497 housing units receiving a foreclosure filing — 2.4 times the state average. Bernalillo County had the second highest foreclosure rate, with one in every 738 housing units receiving a foreclosure filing — 1.6 times the state average. Santa Fe County documented the third highest foreclosure rate, where one in every 776 housing units received a foreclosure filing during the month — 1.6 times the state average.

 

State contributes less than 1 percent to nation’s foreclosure total in April

New Mexico accounted for less than 1 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. 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 filed against a property during the month — which is extremely rare — 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 Foreclosure Market Data by County – April 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

New Mexico

0

380

0

238

95

713

1,209

106.07

100.28

 

 

 

 

 

 

 

 

 

 

Bernalillo

0

186

0

127

60

373

738

189.15

152.03

Catron

0

0

0

0

0

0

 n/a

 n/a

 n/a

Chaves

0

19

0

5

2

26

998

136.36

188.89

Cibola

0

4

0

3

0

7

1,545

 n/a

133.33

Colfax

0

0

0

0

0

0

 n/a

 n/a

 n/a

Curry

0

0

0

1

0

1

20,357

0.00

 n/a

De Baca

0

0

0

0

0

0

 n/a

 n/a

 n/a

Dona Ana

0

28

0

12

10

50

1,536

117.39

51.52

Eddy

0

12

0

3

0

15

1,518

275.00

87.50

Grant

0

0

0

2

0

2

7,289

 n/a

 n/a

Guadalupe

0

0

0

0

0

0

 n/a

 n/a

-100.00

Harding

0

0

0

0

0

0

 n/a

 n/a

 n/a

Hidalgo

0

0

0

0

0

0

 n/a

 n/a

 n/a

Lea

0

0

0

0

0

0

 n/a

 n/a

-100.00

Lincoln

0

7

0

4

0

11

1,529

175.00

450.00

Los Alamos

0

3

0

0

0

3

2,893

-25.00

200.00

Luna

0

0

0

3

0

3

3,985

200.00

 n/a

McKinley

0

0

0

0

0

0

 n/a

 n/a

 n/a

Mora

0

0

0

0

0

0

 n/a

 n/a

 n/a

Otero

0

0

0

9

0

9

3,436

200.00

 n/a

Quay

0

0

0

1

0

1

5,931

 n/a

 n/a

Rio Arriba

0

1

0

1

1

3

6,242

0.00

 n/a

Roosevelt

0

0

0

2

0

2

4,092

0.00

100.00

San Juan

0

0

0

7

0

7

6,464

75.00

250.00

San Miguel

0

0

0

0

0

0

 n/a

 n/a

 n/a

Sandoval

0

56

0

25

7

88

497

-25.42

3.53

Santa Fe

0

60

0

7

13

80

776

185.71

90.48

Sierra

0

0

0

0

1

1

9,179

 n/a

 n/a

Socorro

0

0

0

1

0

1

8,362

 n/a

 n/a

Taos

0

0

0

4

0

4

4,726

 n/a

300.00

Torrance

0

0

0

2

0

2

3,816

 n/a

 n/a

Union

0

0

0

0

0

0

 n/a

 n/a

 n/a

Valencia

0

4

0

19

1

24

1,108

118.18

26.32

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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