NEW MEXICO FORECLOSURES DOWN 25 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Level 10 Percent Below a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – New Mexico reported 249 properties entering some stage of the foreclosure process in November, a 25 percent decline from the 333 properties reported in October, and down 10 percent from the 275 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 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 are down both in November and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s employment growth has continued to outpace the national average, and the housing market has remained relatively strong. These two factors are undoubtedly contributing to the decline in foreclosures we are now seeing.”

 

New Mexico ranked 36th in the country in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 3,135 households ranked 33rd among the 50 states.

 

Bernalillo County leads state in activity

Bernalillo County reported the largest share of New Mexico’s foreclosure activity in November, with 178 properties entering some stage of the foreclosure process during the month. Valencia County reported the second highest total with 30 properties in some stage of foreclosure. The third highest total was found in Santa Fe County, where 18 properties were reported entering the foreclosure pipeline. 

 

Valencia County posts state’s top foreclosure rate

Valencia County posted the top foreclosure rate in the state for November with one new foreclosure filing for every 821 households — 3.8 times the state average and 1.2 times the national average. Bernalillo County reported the second highest foreclosure rate with one new foreclosure filing for every 1,343 households — 2.3 times the state average. Third highest was Chaves County with one new foreclosure filing for every 2,137 households — 1.5 times the state average.

 

State makes minor contribution to national total

New Mexico’s foreclosure activity accounted for less than 1 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents a 4 percent increase from the 115,568 foreclosures reported in October. The nation’s foreclosure rate increased to one new foreclosure filing for every 961 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 – November 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

31,027

44,448

5,685

16,263

22,911

120,334

961

n/a

n/a

New Mexico

142

79

0

0

28

249

3,135

0.31

n/a

 

 

 

 

 

 

 

 

 

 

Bernalillo

93

65

0

0

20

178

1,343

 

0.72

 

2.33

Catron

0

0

0

0

0

0

 

n/a

 

0.00

 

0.00

Chaves

8

1

0

0

3

12

2,137

 

0.45

 

1.47

Colfax

0

0

0

0

0

0

 

n/a

 

0.00

 

0.00

Dona Ana

1

0

0

0

0

1

65,210

 

0.01

 

0.05

Grant

0

0

0

0

0

0

 

n/a

 

0.00

 

0.00

Lea

1

0

0

0

0

1

23,405

 

0.04

 

0.13

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

1

0

0

0

1

11,291

 

0.09

 

0.28

Mora

0

0

0

0

0

0

 

n/a

 

0.00

 

0.00

Rio Arriba

1

1

0

0

0

2

9,008

 

0.11

 

0.35

San Juan

1

0

0

0

0

1

43,221

 

0.02

 

0.07

Sandoval

0

3

0

0

0

3

11,622

 

0.08

 

0.27

Santa Fe

17

0

0

0

1

18

3,206

 

0.30

 

0.98

Taos

0

0

0

0

0

0

 

n/a

 

0.00

 

0.00

Torrance

1

1

0

0

0

2

3,629

 

0.26

 

0.86

Valencia

19

7

0

0

4

30

821

 

1.17

 

3.82

 

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 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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