NEW MEXICO FORECLOSURES UP 26 PERCENT IN DECEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Level Drops 53 Percent From a Year Ago

 

IRVINE, Calif. – Jan. 15, 2007 – New Mexico reported 314 properties entering some stage of the foreclosure process in December, a 26 percent increase from the 249 properties reported in November, but dropping 53 percent from the 674 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.

 

“Even with strong job growth exceeding the national average, New Mexico’s foreclosure activity is on the rise,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, being a lagging indicator of economic performance, it is possible that a decrease in foreclosures is forthcoming.”

 

New Mexico ranked 33rd in the country in total foreclosures reported for December. The state’s foreclosure rate of one new foreclosure filing for every 2,486 households ranked 23rd among the 50 states.

 

Bernalillo County accounts for largest share of state total

Bernalillo County reported the largest share of New Mexico’s foreclosure activity in December, with 237 properties entering some stage of the foreclosure process during the month. Valencia County reported the second highest total, with 26 properties in some stage of foreclosure. Dona Ana County reported the third highest, with 18 properties entering foreclosure. 

 

State’s top foreclosure rate found in Valencia County

Valencia County posted  the state’s highest foreclosure rate for December, with one new foreclosure filing for every 948 households — 2.6 times the state average and 1.1 times the national average. Bernalillo County reported the second highest foreclosure rate, with one new foreclosure filing for every 1.009 households — 2.5 times the state average and slightly above the national average.

 

State makes minor contribution to national total

New Mexico’s foreclosure activity accounted for less than 1 percent of the 109,652 properties entering some stage of foreclosure nationwide in December. The national total represents a 9 percent decrease from the 120,334 foreclosures reported in November. The nation’s foreclosure rate decreased to one new foreclosure filing for every 1,055 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 – December 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

26,593

41,292

5,472

15,887

20,408

109,652

1,055

n/a

n/a

New Mexico

192

85

0

0

37

314

2,486

0.42

n/a

 

 

 

 

 

 

 

 

 

 

Bernalillo

138

70

0

0

29

237

1,009

1.05

2.46

Catron

0

0

0

0

0

0

n/a

0.00

0.00

Chaves

6

0

0

0

1

7

3,664

0.29

0.68

Cibola

0

1

0

0

0

1

10,328

0.10

0.24

Colfax

0

0

0

0

0

0

n/a

0.00

0.00

Dona Ana

15

1

0

0

2

18

3,623

0.29

0.69

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

Los Alamos

0

0

0

0

1

1

7,937

0.13

0.31

Luna

0

0

0

0

0

0

n/a

0.00

0.00

McKinley

0

1

0

0

0

1

26,718

0.04

0.09

Quay

1

0

0

0

0

1

5,664

0.19

0.44

Rio Arriba

0

1

0

0

1

2

9,008

0.12

0.28

San Juan

0

1

0

0

0

1

43,221

0.02

0.06

San Miguel

0

1

0

0

0

1

14,254

0.07

0.17

Sandoval

1

2

0

0

0

3

11,622

0.09

0.21

Santa Fe

11

2

0

0

2

15

3,847

0.27

0.65

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

20

5

0

0

1

26

948

1.11

2.62

 

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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