ALASKA FORECLOSURE ACTIVITY DOWN 31 PERCENT IN NOVEMBER

Filings Statewide Increase 15 Percent From November 2007

 

IRVINE, Calif. – Dec. 29, 2008 –  Alaska reported 179 properties with foreclosure filings in November, a decrease of 31 percent from the previous month, but still 15 percent above the level reported for November 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Foreclosure activity in Alaska dropped substantially between October and November, but remained higher than the level seen this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, with statewide unemployment rising to 7.3 percent in November, up almost 1 percent since January, and home prices running negative, the foreclosure crisis is not over yet for Alaska.”

 

Alaska ranked 42nd in the country in total properties with foreclosure filings for November. One in every 1,545 Alaska housing units received a foreclosure filing during the month, ranking 32nd among the 50 states.

 

Anchorage Municipality tops in foreclosure activity for November

Anchorage Municipality led the state in foreclosure activity for November, reporting 62 properties with foreclosure filings. Matanuska-Susitna Borough came in second highest, reporting 49 properties with foreclosure filings. Fairbanks North Star Borough ranked third, reporting 34 properties with foreclosure filings. Kenai Peninsula came in fourth place, documenting 15 properties with foreclosure filings.

 

Matanuska-Susitna Borough post state’s top rate for November

With one in every 579 housing units receiving a foreclosure filing during the month — 2.7 times the state average — Matanuska-Susitna Borough posted the highest foreclosure rate in the state. Second highest rate was reported in Ketchikan Gateway Borough, where one in every 934 housing units received a foreclosure filing — 1.7 times the state average. Third highest rate was documented in Fairbanks North Star Borough, where one in every 1,005 housing units received a foreclosure filing during the month — 1.5 times the state average.

 

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

Alaska accounted for less than 1 percent of the 259,085 properties with foreclosure filings reported nationwide in November. The national total represented a decrease of more than 7 percent from the previous month but was still 28 percent ahead of the total reported for November 2007. One in every 488 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 – November 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

United States

39,416

53,827

64,136

23,527

78,179

259,085

488

n/a

n/a

Alaska

4

0

72

0

103

179

1,545

0.32

n/a

 

 

 

 

 

 

 

 

 

Aleutians East Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Aleutians West Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

Anchorage Municipality

2

0

16

0

44

62

1,778

0.27

0.87

Bethel Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

Bristol Bay Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Denali Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Dillingham Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

Fairbanks North Star Borough

2

0

14

0

18

34

1,005

0.49

1.54

Haines Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Juneau City and Borough

0

0

0

0

4

4

3,193

0.15

0.48

Kenai Peninsula

0

0

10

0

5

15

1,689

0.29

0.91

Ketchikan Gateway Borough

0

0

5

0

2

7

934

0.52

1.65

Kodiak Island

0

0

1

0

2

3

1,867

0.26

0.83

Lake and Peninsula Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Matanuska Susitna Borough

0

0

21

0

28

49

579

0.84

2.67

Nome Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

North Slope Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Northwest Arctic Borough

0

0

1

0

0

1

2,572

0.19

0.60

Prince Wales Ketchikan Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

Sitka City and Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Skagway Hoonah Angoon Census Area

0

0

1

0

0

1

2,349

0.21

0.66

Southeast Fairbanks Census Area

0

0

1

0

0

1

3,338

0.15

0.46

Valdez Cordova Census Area

0

0

1

0

0

1

5,246

0.09

0.29

Wade Hampton Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

Wrangell Petersburg Census Area

0

0

1

0

0

1

3,418

0.14

0.45

Yakutat City and Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Yukon Koyukuk Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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