Alaska Foreclosure Activity Falls Slightly in April

Statewide filings down 1 percent from March; up 22 percent from year ago

 

Monthly foreclosure activity in Alaska fell 1 percent from the previous month to 287 properties with foreclosure filings. This latest state total also represents a 22 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosures activity had a negligible decline in April but was up substantially from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The biggest decline was in default notices, which dropped 100 percent during the month. Other contributing factors included a surge in home sales at the end of 2009, and an unemployment rate that remains below the national average.”

 

Alaska ranked 43rd in the country in total foreclosures for the month. With one in every 987 housing units receiving a foreclosure filing, its foreclosure rate ranked 34th among the 50 states.

 

Matanuska-Susitna Borough tops in foreclosure rate for April

With one in every 522 housing units receiving a foreclosure filing — 1.9 times the state average — Matanuska-Susitna Borough posted the highest county foreclosure rate in the state for the month. Juneau City and Borough came in second, with one in every 645 housing units receiving a foreclosure filing — 1.5 times the state average. Kenai Peninsula was third, with one in every 825 housing units receiving a foreclosure filing — 1.2 times the state average.

 

Highest foreclosure total in Anchorage Municipality for April

Anchorage Municipality led the way, reporting 125 properties with foreclosure filings for the month. Matanuska-Susitna Borough came in second highest, documenting 55 properties with foreclosure filings. Reporting 42 properties with foreclosure filings for the month, Fairbanks North Star Borough ranked third highest. Kenai Peninsula was fourth, reporting 31 properties with foreclosure filings, while Juneau City and Borough came in fifth, reporting 20 properties with foreclosure filings.

 

State a minor contributor to nation’s monthly foreclosure total

Alaska accounted for less than 1 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 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: DefaultNotice 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 – April 2010

 

Burough

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

/Natl.

Avg.

/State

Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Alaska

0

0

190

0

97

287

987

0.39

n/a

 

 

 

 

 

 

 

 

 

 

Matanuska-Susitna Burough

0

0

37

0

18

55

522

0.74

1.89

Juneau City and Burough

0

0

13

0

7

20

645

0.60

1.53

Kenai Peninsula

0

0

17

0

14

31

825

0.47

1.20

Anchorage Municipality

0

0

81

0

44

125

896

0.43

1.10

Fairbanks North Star Burough

0

0

31

0

11

42

905

0.43

1.09

 

 

 

Alaska Top Foreclosure Totals by Borough – April 2010

 

 

Burough

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

% Chg

Jan 10

% Chg

Feb 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Alaska

0

0

190

0

97

287

987

-0.69

21.61

 

 

 

 

 

 

 

 

 

 

Anchorage Municipality

0

0

81

0

44

125

896

-9.42

14.68

Matanuska-Susitna Burough

0

0

37

0

18

55

522

-33.73

-5.17

Fairbanks North Star Burough

0

0

31

0

11

42

905

61.54

16.67

Kenai Peninsula

0

0

17

0

14

31

825

72.22

82.35

Juneau City and Burough

0

0

13

0

7

20

645

233.33

300.00

 

 

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