New Mexico Foreclosure Listings

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New Mexico Foreclosures for Sale

New Mexico, which is situated in the southwestern region of the United States, features a widely cultivated region with a broad demographic of Caucasians, Hispanics, and Native Americans. Over a quarter of the population speaks Spanish as their native language while only a small percentage speaks the state's native tongue-Navajo. The overall population of New Mexico is just over 2 million people, with Albuquerque being the most populated city. Santa Fe serves as the state capital. Other major cities situated across New Mexico include: Las Cruces (Dona Ana County), Roswell(Chaves County), Hobbs (Lea County) and Farmington (San Juan County).

The state is geographically split into several distinct regions. The eastern section is composed of the Great Plains, which is full of arid, sweeping flatlands that are primarily used for dry farming. The center of New Mexico contains a huge stretch of the Rocky Mountains, while the southern region is comprised of other large mountains. Seasonal change is quite drastic in New Mexico, featuring blistering hot summers that can reach heights of 90 degrees F and above, combined with very cold winters, which drop to freezing temperatures of 20 degrees F or lower.

New Mexico's agricultural industry garners a generous margin of productivity from the dairy processing sector, which accounts for nearly 40 percent of the industry's total revenue. Other important resources include beef, cattle and calves. Crops are scarce in most regions due to insufficient water supply, which can be compensated for through irrigation. The mining industry boasts its strongest earnings from coal, petroleum and natural gases, which contribute towards the majority of the state's profits.

The housing market is currently strong; listing prices have experienced a decrease from last year. Now is the perfect time for prospective homeowners to look into buying New Mexico home foreclosures. Albuquerque's median listing prices indicate a percentile drop of 9.3 percent compared to the same period last year, with prices averaging at $180,000. Santa Fe's current prices indicate a drop of 5.8 percent compared to last year, with prices currently sitting at an overall price of $375,800.