FORECLOSURES UP IN NEW MEXICO

As home sales went up last month so did foreclosures. Personally, I think the banks are getting more efficient in taking action. They had so many short sales to deal with first that they staffed up for that and foreclosure action took forever. The short sales seem to be moving more quickly and perhaps those extra staff can now turn their attention to foreclosing. It will be awhile until these bank distressed properties get off the market. It's been a major factor in the depressed prices in New Mexico. A fairly priced house doesn't have a chance in some subdivisions.