Alaska Foreclosure Activity Declines in November

Statewide filings down 11 percent from October; up 52 percent from November 2008

 

Alaska foreclosure activity fell in November to 272 properties with foreclosure filings, down 11 percent from the previous month, but still 52 percent ahead of the level reported in November 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity in Alaska declined in November, but was still significantly ahead of its level from a year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment remained stable for the month, remaining below the national average. This is a significant factor in keeping mounting foreclosures in check.”

 

Alaska had the 43rd highest total foreclosure activity in the nation for November. One in every 1,038 Alaska housing units received a foreclosure filing during the month, the 33rd highest foreclosure rate in the nation.

 

Matanuska Susitna Borough posts state’s highest foreclosure rate in November

With one in every 461 housing units receiving a foreclosure filing — 2.3 times the state average — Matanuska Susitna Borough posted the highest foreclosure rate in the state for November. Juneau Borough was second highest, with one in every 857 housing units receiving a foreclosure filing — 1.2 times the state average. Anchorage Municipality came in third, with one in every 944 housing units receiving a foreclosure filing — 1.1 times the state average.

 

Anchorage Municipality led state in total foreclosure filings for November

Anchorage Municipality led all areas, totaling 118 properties with foreclosure filings for the month. Matanuska Susitna Borough was second highest, documenting 62 properties with foreclosure filings. Reporting 40 properties with foreclosure filings for the month, Fairbanks North Star Borough had the third highest total in the state, while Kenai Peninsula was fourth highest, reporting 24 properties with foreclosure filings, and Juneau City and County came in fifth, reporting 15 properties with foreclosure filings for the month.

 

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

Alaska accounted for less than 1 percent of the 306,627 properties with foreclosure filings reported nationwide in November. Total U.S. activity declined nearly 8 percent from the previous month but was still 18 percent ahead of November 2008. One in every 417 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 – November 2009

 

Borough Name

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

n/a

n/a

Alaska

2

0

207

0

63

272

1,038

0.40

n/a

 

 

 

 

 

 

 

 

 

 

Matanuska-Susitna Borough

0

0

48

0

14

62

461

0.90

2.25

Juneau City and Borough

0

0

11

0

4

15

857

0.49

1.21

Anchorage Municipality

0

0

104

0

14

118

944

0.44

1.10

Fairbanks North Star Borough

0

0

20

0

20

40

949

0.44

1.09

Kenai Peninsula

2

0

17

0

5

24

1,061

0.39

0.98

 

 

Alaska Top Foreclosure Totals by Borough – November 2009

 

Borough Name

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 09

% Chg Nov 08

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

-7.72

18.35

Alaska

2

0

207

0

63

272

1,038

-10.53

51.96

 

 

 

 

 

 

 

 

 

 

Anchorage Municipality

0

0

104

0

14

118

944

-31.40

90.32

Matanuska-Susitna Borough

0

0

48

0

14

62

461

6.90

26.53

Fairbanks North Star Borough

0

0

20

0

20

40

949

60.00

17.65

Kenai Peninsula

2

0

17

0

5

24

1,061

-20.00

60.00

Juneau City and Borough

0

0

11

0

4

15

857

7.14

275.00

 

 

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