ALASKA FORECLOSURE ACTIVITY DECREASES 24 PERCENT IN FIRST QUARTER

State Activity Up 15 Percent From Q1 2008

Monthly Activity Up 10 percent in March, Up 17 Percent From Year Ago

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 551 Alaska properties in the first quarter of 2009, a 24 percent decrease from the previous quarter, but still 15 percent above the level reported for Q1 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Alaska reported 224 properties with foreclosure filings in March, a 10 percent increase from the previous month and 17 percent above its March 2008 total.

 

“Foreclosure activity decreased significantly in the first quarter of 2009, though it remained elevated compared to the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s high unemployment rate — which is now more in line with the national average — is a contributing factor to the heightened level of foreclosure activity on an annual basis.”

 

Alaska ranked 43rd in the country in total properties with foreclosure filings for the quarter. One in every 512 Alaska housing units received a foreclosure filing during the month, the 33rd highest state foreclosure rate in the nation.

 

Four counties account for lion’s share of state foreclosure total for the quarter

Four Alaska counties accounted for 94 percent of all foreclosure activity in the state for the quarter. Leading the state in foreclosure activity was Anchorage Borough, reporting 239 properties with foreclosure filings. Matanuska Susitna Borough was second highest, reporting 143 properties with foreclosure filings for the quarter. Fairbanks North Star Borough was in third, reporting 101 properties with foreclosure filings. Kenai Peninsula Borough registered the fourth highest total, documenting 34 properties with foreclosure filings.

 

Matanuska Susitna Borough posts state’s top foreclosure rate for first quarter

With one in every 200 housing units receiving a foreclosure filing — 2.6 times the state average — Matanuska Susitna Borough posted the highest foreclosure rate in the state during the first quarter. Fairbanks North Star Borough came in second, with one in every 376 housing units receiving a foreclosure filing — 1.4 times the state average. Third highest rate was documented in Anchorage Borough, where one in every 466 housing units received a foreclosure filing during the month — 1.1 times the state average.

 

State a minor contributor to nation’s foreclosure total for Q1 2009

Alaska accounted for less than 1 percent of the 803,489 properties with foreclosure filings reported nationwide for the first quarter of 2009. The national total represented a 9 percent increase in activity from the previous quarter and was almost 24 percent ahead of the total reported for Q1 2008. One in every 159 U.S. housing units received a foreclosure filing during the quarter.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the quarter  — broken out by type of filing at the county, state and national level. 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 filed against a property during the quarter — which is extremely rare — only the most recent filing is counted in the report.

 

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

 

                           Alaska Foreclosure Market Data by Borough – Q1 2009

Properties with Foreclosure Filings

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

%Change from Q4 08

%Change from Q1 08

 

 

 

 

 

 

 

 

 

 

United States

156,933

149,852

225,752

80,409

190,543

803,489

159

9.16

23.63

Alaska

0

0

349

0

202

551

512

-24.31

14.55

 

 

 

 

 

 

 

 

 

 

Aleutians East Borough

0

0

0

0

0

0

Aleutians West Census Area

0

0

0

0

0

0

Anchorage Municipality

0

0

164

0

75

239

466

-36.60%

-5.53%

Bethel Census Area

0

0

1

0

0

1

5,567

0.00%

-50.00%

Bristol Bay Borough

0

0

1

0

0

1

981

Denali Borough

0

0

0

0

0

0

Dillingham Census Area

0

0

1

0

0

1

2,432

0.00%

Fairbanks North Star Borough

0

0

69

0

32

101

376

6.32%

102.00%

Haines Borough

0

0

0

0

0

0

-100.00%

Juneau City and Borough

0

0

7

0

5

12

1,071

-33.33%

-25.00%

Kenai Peninsula

0

0

22

0

12

34

749

0.00%

25.93%

Ketchikan Gateway Borough

0

0

5

0

3

8

820

-27.27%

33.33%

Kodiak Island

0

0

2

0

0

2

2,812

-33.33%

-50.00%

Lake and Peninsula Borough

0

0

0

0

0

0

Matanuska Susitna Borough

0

0

70

0

73

143

200

-20.56%

23.28%

Nome Census Area

0

0

2

0

0

2

1,844

0.00%

North Slope Borough

0

0

0

0

0

0

Northwest Arctic Borough

0

0

0

0

0

0

-100.00%

Prince Wales Ketchikan Census Area

0

0

0

0

0

0

-100.00%

Sitka City and Borough

0

0

0

0

1

1

3,929

0.00%

-75.00%

Skagway Hoonah Angoon Census Area

0

0

0

0

0

0

-100.00%

Southeast Fairbanks Census Area

0

0

2

0

0

2

1,666

100.00%

Valdez Cordova Census Area

0

0

0

0

0

0

-100.00%

Wade Hampton Census Area

0

0

0

0

0

0

Wrangell Petersburg Census Area

0

0

3

0

1

4

861

100.00%

Yakutat City and Borough

0

0

0

0

0

0

Yukon Koyukuk Census Area

0

0

0

0

0

0

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

 

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