NEW MEXICO FORECLOSURES SWELL 70 PERCENT IN AUGUST

State’s Activity Still 63 Percent Lower Than a Year Ago

 

IRVINE, Calif. – August 31, 2006 – New Mexico reported 341 properties entering some stage of the foreclosure process in August, a 70 percent spike in activity from the 201 properties reported in July, but 63 percent below the 928 properties reported for the same month last year, according to the RealtyTrac™ August 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and Knight Ridder Online.

 

“Employment in New Mexico is on the rise and real estate is expanding due to an influx of affluent newcomers to the state,” said James J. Saccacio, chief executive officer of RealtyTrac. “Even with the recent jump in foreclosures, activity in New Mexico is still much lower than last year.”

 

New Mexico ranked 33rd in the country in total foreclosures reported for August. The state’s foreclosure rate of one new foreclosure filing for every 2,289 households — 44 percent of the national average — ranks it 26th among the 50 states.

 

Bernalillo County accounts for largest share of state total

Bernalillo County accounted for 66 percent of all foreclosures in New Mexico for August, reporting 225 properties entering some stage of the foreclosure process. Dona Anan County had the second highest total, reporting 31 properties entering some stage of the foreclosure process, followed by Valencia County with 28 properties entering some stage of the foreclosure process.

 

Highest foreclosure rate reported in Valencia County

Valencia County posted the state’s highest foreclosure rate in August, with one new foreclosure filing for every 880 households — 2.6 times the state average and 1.1 times the national average.  Reporting one new foreclosure filing for every 1,063 households — 2.2 times the state average and 90 percent of the national average — Bernalillo County had the second highest foreclosure rate in the state.

 

State has little impact on national total

New Mexico‘s foreclosure activity accounted for less than 1 percent of the 115,292 properties entering some stage of the foreclosure process nationwide in August. The national total represents a 24 percent increase from the 92,845 foreclosures reported in July. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,003 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).

 

 

 

                          New Mexico Foreclosure Market by County – August 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,611

45,704

7,328

21,533

20,116

115,292

1,003

New Mexico

236

63

0

0

42

341

2,289

0.44

 

 

 

 

 

 

 

 

 

 

Bernalillo

145

48

0

0

32

225

1,063

0.94

2.15

Catron

0

0

0

0

0

0

0.00

0.00

Chaves

16

0

0

0

2

18

1,425

0.70

1.61

Colfax

0

0

0

0

0

0

0.00

0.00

Curry

0

0

0

0

0

0

0.00

0.00

Dona Ana

29

0

0

0

2

31

2,104

0.48

1.09

Eddy

1

0

0

0

1

2

11,125

0.09

0.21

Grant

0

0

0

0

0

0

0.00

0.00

Hidalgo

0

0

0

0

0

0

0.00

0.00

Los Alamos

0

0

0

0

0

0

0.00

0.00

Luna

0

0

0

0

0

0

0.00

0.00

Otero

0

0

0

0

0

0

0.00

0.00

Rio Arriba

1

1

0

0

1

3

6,005

0.17

0.38

San Juan

0

0

0

0

0

0

0.00

0.00

San Miguel

0

1

0

0

0

1

14,254

0.07

0.16

Sandoval

3

6

0

0

1

10

3,487

0.29

0.66

Santa Fe

20

1

0

0

0

21

2,748

0.37

0.83

Sierra

0

0

0

0

0

0

0.00

0.00

Socorro

0

0

0

0

0

0

0.00

0.00

Taos

0

0

0

0

0

0

0.00

0.00

Torrance

2

0

0

0

0

2

3,629

0.28

0.63

Valencia

19

6

0

0

3

28

880

1.14

2.60

 

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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