NEW MEXICO FORECLOSURES INCREASE 6 PERCENT IN JANUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Down 51 Percent From a Year Ago

 

IRVINE, Calif. – Feb. 25, 2007 – New Mexico documented 332 foreclosure filings in January, a 6 percent increase from the previous month, but a 51 percent decrease from January 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 850,000 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.

 

“Although New Mexico foreclosures increased slightly in January, the numbers are down from this time last year by more than half,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s unemployment rate decreased 1.2 percent in 2006 and that its home price appreciation rate was almost double that of the national average.  These factors are very likely contributing to the overall decrease.”

 

New Mexico ranked 35th in the country in total foreclosures reported for January. The state’s foreclosure rate of one new foreclosure filing for every 2,351 households ranked 30th among the 50 states.

 

Bernalillo County leads state in foreclosure activity

Bernalillo County documented the state’s largest share of foreclosure activity in January, with 231 properties entering some stage of the foreclosure process during the month. Valencia County documented the second largest share of foreclosure activity, with 29 properties in some stage of the foreclosure process. Dona Ana County documented the state’s third largest share of foreclosure activity, with 24 properties in the foreclosure pipeline.

 

Valencia County posts state’s top foreclosure rate

Valencia County documented the highest foreclosure rate in New Mexico for January, with one new foreclosure filing for every 850 households — 2.8 times the state average. Bernalillo County registered the second highest foreclosure rate, with one new foreclosure filing for every 1,035 households — 2.3 the state average. Chaves County documented the third highest foreclosure rate, with one new foreclosure filing for every 1,509 households — 1.6 times the state average.

 

State makes minor contribution to national total

New Mexico’s foreclosure activity accounted for less than 1 percent of the 130,511 properties entering some stage of foreclosure nationwide in January. The national total represents a 19 percent increase in activity from the 109,652 foreclosure filings reported in December. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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 – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

New Mexico

240

55

0

0

37

332

2,351

0.38

n/a

 

 

 

 

 

 

 

 

 

 

Bernalillo

164

44

0

0

23

231

1,035

0.86

2.27

Catron

0

0

0

0

0

0

n/a

0.00

0.00

Chaves

9

0

0

0

8

17

1,509

0.59

1.56

Cibola

1

0

0

0

0

1

10,328

0.09

0.23

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

Dona Ana

21

0

0

0

3

24

2,717

0.33

0.87

Eddy

2

0

0

0

0

2

11,125

0.08

0.21

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

Lincoln

0

0

0

0

0

0

n/a

0.00

0.00

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

McKinley

0

1

0

0

0

1

26,718

0.03

0.09

Otero

1

0

0

0

0

1

29,272

0.03

0.08

Quay

1

0

0

0

0

1

5,664

0.16

0.42

Rio Arriba

2

0

0

0

0

2

9,008

0.10

0.26

Roosevelt

0

1

0

0

0

1

7,746

0.11

0.30

San Juan

0

0

0

0

0

0

n/a

0.00

0.00

San Miguel

0

1

0

0

0

1

14,254

0.06

0.16

Sandoval

1

3

0

0

0

4

8,717

0.10

0.27

Santa Fe

16

0

0

0

1

17

3,394

0.26

0.69

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

Valencia

22

5

0

0

2

29

850

1.04

2.77

 

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 construction properties, 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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