Alaska Foreclosure Activity Decreases in May

Total foreclosure filings statewide down 19 percent.

 

Alaska foreclosure activity fell in May to 191 properties with foreclosure filings, a 19 percent decline from the previous month, but still 12 percent ahead of May 2008, according to RealtyTrac’s latest U.S. Foreclosure Market Report.

 

“Foreclosure activity decreased in Alaska in May, but is still slightly ahead of this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although unemployment is elevated somewhat over a year ago, that state is still below the national average so a decline in foreclosure activity is not to be unexpected.”

 

Alaska ranked 43rd in the country in total properties with foreclosure filings for May. One in every 1,478 Alaska housing units received a foreclosure filing during the month, ranking 35th among the 50 states.

 

Anchorage Municipality tops in foreclosure activity for May

Anchorage Municipality led the state reporting 88 properties with foreclosure filings for the month. Second highest total was in Fairbanks North Star Borough, where 40 properties with foreclosure filings were reported. Matanuska-Susitna Borough had the third highest total, reporting 32 properties with foreclosure filings, followed by Kenai Peninsula Borough, where 12 properties with foreclosure filings were tallied.

 

Matanuska-Susitna Borough posts state’s highest foreclosure rates for May

With one in every 893 housing units receiving a foreclosure filing during the month, Matanuska Susitna Borough posted the highest Borough foreclosure rate in the state. Fairbanks North Star Borough had the second highest rate, with one in every 949 housing units receiving a foreclosure filing. Third highest rate was found in Ketchikan Gateway Borough, where one in every 1,093 housing units received a foreclosure filing during the month.

 

State a minor contributor to nation’s foreclosure activity for May

Foreclosure activity in Alaska represented less than 1 percent of the 321,480 properties with foreclosure filings reported nationwide in May. Total U.S. activity fell 6 percent from the previous month but was still nearly 18 percent ahead of May 2008. One in every 398 U.S. housing units received a foreclosure filing during the month.

 

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 month — 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 month — which is extremely rare — 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 Foreclosure Market Data by Borough – May 2009

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Apr 09

% Chg May 08

 

 

 

 

 

 

 

 

 

 

United States

55,442

67,687

100,578

32,756

65,017

321,480

398

– 6.01

17.76

Alaska

6

0

132

0

53

191

1,478

-19.07

11.70

 

 

 

 

 

 

 

 

 

 

Aleutians East Borough

0

0

0

0

0

0

n/a

n/a

n/a

Aleutians West Census Area

0

0

0

0

0

0

n/a

n/a

n/a

Anchorage Municipality

0

0

71

0

17

88

1,266

-19.27

10.00

Bethel Census Area

0

0

0

0

0

0

n/a

-100.00

n/a

Bristol Bay Borough

0

0

0

0

0

0

n/a

n/a

n/a

Denali Borough

0

0

0

0

0

0

n/a

n/a

n/a

Dillingham Census Area

0

0

0

0

0

0

n/a

n/a

n/a

Fairbanks North Star Borough

6

0

20

0

14

40

949

11.11

135.29

Haines Borough

0

0

0

0

0

0

n/a

n/a

n/a

Juneau City and Borough

0

0

5

0

4

9

1,428

80.00

80.00

Kenai Peninsula

0

0

10

0

2

12

2,123

-29.41

-14.29

Ketchikan Gateway Borough

0

0

4

0

2

6

1,093

200.00

200.00

Kodiak Island

0

0

2

0

0

2

2,812

100.00

-50.00

Lake and Peninsula Borough

0

0

0

0

0

0

n/a

-100.00

n/a

Matanuska Susitna Borough

0

0

18

0

14

32

893

-44.83

-31.91

Nome Census Area

0

0

0

0

0

0

n/a

n/a

-100.00

North Slope Borough

0

0

0

0

0

0

n/a

n/a

n/a

Northwest Arctic Borough

0

0

0

0

0

0

n/a

n/a

n/a

Prince Wales Ketchikan Census Area

0

0

1

0

0

1

3,250

0.00

n/a

Sitka City and Borough

0

0

1

0

0

1

3,929

-50.00

0.00

Skagway Hoonah Angoon Census Area

0

0

0

0

0

0

n/a

n/a

n/a

Southeast Fairbanks Census Area

0

0

0

0

0

0

n/a

n/a

n/a

Valdez Cordova Census Area

0

0

0

0

0

0

n/a

-100.00

n/a

Wade Hampton Census Area

0

0

0

0

0

0

n/a

n/a

n/a

Wrangell Petersburg Census Area

0

0

0

0

0

0

n/a

n/a

n/a

Yakutat City and Borough

0

0

0

0

0

0

n/a

n/a

n/a

Yukon Koyukuk Census Area

0

0

0

0

0

0

n/a

n/a

n/a

 

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