Alaska Foreclosure Activity Declines in January

Statewide filings down 25 percent from December; Up 88 percent from year ago

 

Foreclosure activity in Alaska decreased in January to 314 properties with foreclosure filings, down 25 percent from December 2009, but still 88 percent ahead of January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity in Alaska declined in January, but remained nearly double the level reported from a year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state remains below the national average, which is likely helping to keep mounting foreclosures at bay.”

 

With one of the lowest foreclosure totals in the nation, Alaska ranked 45th among the 50 states. One in every 902 Alaska housing units received a foreclosure filing in January, the 31st highest foreclosure rate in the nation.

 

Matanuska-Susitna Borough posts top foreclosure rate in the state for January

With one in every 478 housing units receiving a foreclosure filing — 1.9 times the state average — Matanuska-Susitna Borough posted the state’s highest borough foreclosure rate in January. Anchorage Municipality had the second highest rate, with one in every 691 housing units receiving a foreclosure filing — 1.3 times the state average. Juneau City and Borough was third, with one in every 758 housing units receiving a foreclosure filing —1.2 time the state average. Fairbanks North Star Borough was fourth highest, with one in every 826 housing units receiving a foreclosure filing — 1.1 times the state average. Fifth highest rate was in Kenai Peninsula, where one in every 1,218 housing units received a foreclosure filing during the month — well below the state average.

 

Anchorage Municipality led the state in total foreclosure filings for January

Anchorage Municipality led all boroughs, totaling 162 properties with foreclosure filings for the month. Matanuska Susitna Borough was second highest, documenting 60 properties with foreclosure filings. Reporting 46 properties with foreclosure filings for the month, Fairbanks North Star Borough had the third highest total. Kenai Peninsula came in fourth, reporting 21 properties with foreclosure filings, followed by Juneau City and Borough where 17 properties with foreclosure filings were reported.

 

State a minor contributor to nation’s foreclosure total in January

Alaska accounted for less than 1 percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

Alaska Top Foreclosure Rates By Borough – January 2010

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Alaska

0

0

178

0

136

314

902

0.45

n/a

 

 

 

 

 

 

 

 

 

 

Matanuska-Susitna Borough

0

0

38

0

22

60

478

0.85

1.89

Anchorage Municipality

0

0

73

0

89

162

691

0.59

1.31

Juneau City and Borough

0

0

13

0

4

17

758

0.53

1.19

Fairbanks North Star Borough

0

0

30

0

16

46

826

0.49

1.09

Kenai Peninsula

0

0

19

0

2

21

1,218

0.33

0.74

 

 

Alaska Top Foreclosure Totals by Borough – January 2010

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Alaska

0

0

178

0

136

314

902

-25.42

88.02

 

 

 

 

 

 

 

 

 

 

Anchorage Municipality

0

0

73

0

89

162

691

-17.77

97.56

Matanuska-Susitna Borough

0

0

38

0

22

60

478

-44.44

53.85

Fairbanks North Star Borough

0

0

30

0

16

46

826

0.00

119.05

Kenai Peninsula

0

0

19

0

2

21

1,218

-36.36

110.00

Juneau City and Borough

0

0

13

0

4

17

758

0.00

183.33

 

 

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