NEW MEXICO FORECLOSURE ACTIVITY UP 58 PERCENT IN DECEMBER

Yearly Foreclosure Activity Up 30 Percent From December 2006

 

IRVINE, Calif. – Jan. 25, 2008 – New Mexico reported 409 foreclosure filings in December, a 58 percent increase from the previous month, and a 30 percent increase from December 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.

 

“Unemployment has been on the rise within New Mexico since last summer,” said James J. Saccacio, chief executive officer of RealtyTrac. “Not surprisingly, foreclosure activity within the state is also elevated.”

 

New Mexico ranked 37th in the country in total foreclosures reported for December. The state’s foreclosure rate of one foreclosure filing for every 2,051 households ranked it 33rd among the 50 states.

 

Bernalillo County leads state in foreclosure filings

Bernalillo County led New Mexico in total foreclosure filings for December, reporting 240 foreclosure filings for the month. Sandoval County reported the second highest foreclosure total, reporting 68 foreclosure filings. Santa Fe County came in third with 26 foreclosure filings followed by Dona Ana County, which posted 22 foreclosure filings.

 

Sandoval County posts highest foreclosure rate for December

Sandoval County led the state with the highest foreclosure rate for December, one foreclosure filing for every 599 households — 3.4 times the state average. Bernalillo County came in second with a rate of one foreclosure filing for every 1,109 households — 1.9 times the state average. Otero County posted the third highest foreclosure rate, one foreclosure filing for every 2,023 households.

 

State makes minor contribution to nation’s total in December

Total foreclosure filings in New Mexico accounted for less than 1 percent of the 215,749 foreclosure filings reported nationwide in December. The national total represents a 7 percent increase from the previous month, and is 97 percent above the total reported for December 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 577 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 – December 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,182

54,280

18,488

47,945

48,854

215,749

577

n/a

n/a

New Mexico

0

1

7

341

60

409

2,051

0.28

n/a

 

 

 

 

 

 

 

 

 

 

Bernalillo

0

0

5

199

36

240

1,109

0.52

1.85

Catron

0

0

0

0

0

0

n/a

0.00

0.00

Chaves

0

0

0

11

1

12

2,162

0.27

0.95

Cibola

0

0

0

1

0

1

10,688

0.05

0.19

Colfax

0

0

0

0

0

0

n/a

0.00

0.00

Curry

0

0

0

0

0

0

n/a

0.00

0.00

De Baca

0

0

0

0

0

0

n/a

0.00

0.00

Dona Ana

0

0

0

15

7

22

3,290

0.18

0.62

Eddy

0

0

0

6

0

6

3,774

0.15

0.54

Grant

0

0

0

0

0

0

n/a

0.00

0.00

Guadalupe

0

0

0

0

0

0

n/a

0.00

0.00

Harding

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

0

0

0

n/a

0.00

0.00

Lincoln

0

0

0

4

1

5

3,256

0.18

0.63

Los Alamos

0

0

0

4

0

4

2,152

0.27

0.95

Luna

0

0

0

0

0

0

n/a

0.00

0.00

McKinley

0

0

0

0

0

0

n/a

0.00

0.00

Mora

0

0

0

1

0

1

3,096

0.19

0.66

Otero

0

0

0

15

0

15

2,023

0.29

1.01

Quay

0

0

0

0

0

0

n/a

0.00

0.00

Rio Arriba

0

0

0

0

0

0

n/a

0.00

0.00

Roosevelt

0

0

0

0

0

0

n/a

0.00

0.00

San Juan

0

0

1

1

0

2

22,315

0.03

0.09

San Miguel

0

0

0

0

0

0

n/a

0.00

0.00

Sandoval

0

0

1

60

7

68

599

0.96

3.42

Santa Fe

0

0

0

19

7

26

2,348

0.25

0.87

Sierra

0

0

0

0

0

0

n/a

0.00

0.00

Socorro

0

0

0

0

0

0

n/a

0.00

0.00

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

Union

0

0

0

0

0

0

n/a

0.00

0.00

Valencia

0

1

0

5

1

7

3,716

0.16

0.55

 

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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