Alaska Foreclosure Activity Falls in July

Statewide filings down 24 percent from June

 

Foreclosure activity in Alaska declined 24 percent in July to 170 properties with foreclosure filings, 54 percent below the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Alaska reported a drop in foreclosure activity in July, with substantially fewer filings than were reported for the previous month and at the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Key to this drop in activity was a 50 percent decline in new default notices filed during the month and a 33 percent decrease in the number of auction notices.”

 

The state total ranked 47th out of the 50 states. One in every 1,667 Alaska housing units received a foreclosure filing during the month, the 41st highest foreclosure rate in the nation.

 

Haines Borough posts state’s top foreclosure rate in July

One in every 766 housing units in Haines Borough received a foreclosure filing in July, giving the borough the top foreclosure rate in the state for the month. Matanuska Susitna Borough posted the second highest rate, with one in every 925 housing units receiving a foreclosure filing during the month. Coming in third was Kodiak Island, where one in every 939 housing units received a foreclosure filing in July.

 

Anchorage Municipality led state in foreclosure activity for July

Reporting 77 properties with foreclosure filings in July, Anchorage Municipality led the state in total foreclosure activity. Second highest total was in Matanuska Susitna Borough, reporting 31 properties with foreclosure filings. Fairbanks North Star Borough came in third highest, tallying 23 properties with foreclosure filings.  Kenai Peninsula had the fourth highest total, reporting 15 properties with foreclosure filing. Kodiak Island came in fifth, tallying 6 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Alaska accounted for less than 1 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month but was down almost 10 percent from the level reported in July 2009. One in every 397 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/Municipality – July 2010

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

Alaska

1

0

99

0

70

170

1,667

0.24

n/a

 

 

 

 

 

 

 

 

 

 

Haines Borough

1

0

1

0

0

2

766

0.52

2.18

Matanuska-Susitna Borough

0

0

21

0

10

31

925

0.43

1.80

Kodiak Island

0

0

1

0

5

6

939

0.42

1.78

Sitka City and Borough

0

0

3

0

0

3

1,319

0.30

1.26

Anchorage Municipality

0

0

37

0

40

77

1,455

0.27

1.15

 

 

Alaska Top Foreclosure Totals by Borough/Municipality – July 2010

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

Alaska

1

0

99

0

70

170

1,667

-24.11

-54.18

 

 

 

 

 

 

 

 

 

 

Anchorage Municipality

0

0

37

0

40

77

1,455

-27.36

-55.49

Matanuska-Susitna Borough

0

0

21

0

10

31

925

-26.19

-68.04

Fairbanks North Star Borough

0

0

18

0

5

23

1,652

-42.50

-53.06

Kenai Peninsula

0

0

9

0

6

15

1,705

-21.05

-21.05

Kodiak Island

0

0

1

0

5

6

939

 n/a

100.00

 

 

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