NEW MEXICO FORECLOSURES DECREASE 14 PERCENT IN APRIL

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Down 60 Percent From a Year Ago

 

IRVINE, Calif. – May 18, 2007 – New Mexico reported 282 foreclosure filings in April, a 14 percent decrease from the previous month, and down 60 percent from April 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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 have decreased both in April and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s home price appreciation rate was more than double that of the national average in 2006. This, in addition to a low unemployment rate last quarter, is likely contributing to the overall decline.”

 

New Mexico ranked 37th in the country in total foreclosures for April. The state’s foreclosure rate of one foreclosure filing for every 2,768 households ranks it 36th among the 50 states.

 

Bernalillo County accounts for largest share of state total

Bernalillo County reported the highest total for the month, reporting 150 foreclosure filings. Sandoval County came in second with 60 foreclosure filings, followed by Santa Fe County with 19 foreclosure filings.

 

Sandoval County posts highest foreclosure rate

Sandoval County posted the highest foreclosure rate in New Mexico for April, reporting one foreclosure filing for every 581 households — 4.8 times the state average and 1.4 times the national average. Valencia County reported the second highest rate with one foreclosure filing for every 1,450 households — 1.9 times the state average. Bernalillo County came in third with a rate of one filing for every 1,594 households — 1.7 times the state average. 

 

State contributes less than 1 percent to national total

Total foreclosure filings in New Mexico accounted for less than 1 percent of the 147,708 foreclosure filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 783 U.S. households during 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 – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,171

49,795

7,388

21,085

22,269

147,708

783

n/a

n/a

New Mexico

204

44

0

0

34

282

2,768

0.28

n/a

 

 

 

 

 

 

 

 

 

 

Bernalillo

101

29

0

0

20

150

1,594

0.49

1.74

Catron

0

0

0

0

0

0

n/a

0.00

0.00

Chaves

6

1

0

0

1

8

3,206

0.24

0.86

Cibola

4

1

0

0

0

5

2,066

0.38

1.34

Colfax

0

0

0

0

0

0

n/a

0.00

0.00

Curry

2

1

0

0

0

3

6,404

0.12

0.43

Dona Ana

7

1

0

0

2

10

6,521

0.12

0.42

Eddy

2

1

0

0

0

3

7,416

0.11

0.37

Grant

0

0

0

0

0

0

n/a

0.00

0.00

Lea

0

1

0

0

0

1

23,405

0.03

0.12

Lincoln

1

0

0

0

0

1

15,298

0.05

0.18

Los Alamos

0

0

0

0

0

0

n/a

0.00

0.00

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

Quay

0

1

0

0

0

1

5,664

0.14

0.49

Rio Arriba

1

1

0

0

0

2

9,008

0.09

0.31

San Juan

1

0

0

0

0

1

43,221

0.02

0.06

Sandoval

51

3

0

0

6

60

581

1.35

4.76

Santa Fe

16

1

0

0

2

19

3,037

0.26

0.91

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

1

0

0

0

1

7,257

0.11

0.38

Valencia

12

2

0

0

3

17

1,450

0.54

1.91

 

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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