ALASKA FORECLOSURE ACTIVITY INCREASE 30 PERCENT IN MARCH

State Foreclosure Filings Up 96 Percent From a March 2007

 

IRVINE, Calif. – April 30, 2008 – Alaska reported 192 properties with foreclosure filings in March, a 30 percent increase in activity from the previous month, and up 96 percent from the level reported for March 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 million properties from nearly 2,500 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.

 

“Except for a large downturn in January 2008, foreclosure activity has been on the upswing in Alaska for a number of months now, to almost double the level reported in March 2007,” said James J. Saccacio, chief executive officer of RealtyTrac. “Some major factors contributing to this trend is unemployment above the national average, along with lower home sales volume, even though home prices continue to appreciate.

 

Alaska ranked 41st among the 50 states in total foreclosure activity reported for March. One in every 1,440 Alaskan households received a foreclosure filing during the month, the 29th highest state foreclosure rate in the country.

 

Anchorage County posts bulk of state’s foreclosure activity

Anchorage County accounted for 58 percent of all foreclosure activity in Alaska for March, reporting 113 properties with foreclosure filings. Matanuska Susitna County came in second, reporting 31 properties with foreclosure filings for the month. Fairbanks North Star County came in third, reporting 19 properties with foreclosure filings. Fourth highest total was documented in Kenai Peninsula County, where 11 properties with foreclosure filings were reported. Fifth highest total was documented in Juneau County, where 9 properties with foreclosure filings were reported.

 

Matanuska Susitna County posts top foreclosure rate for March

Matanuska Susitna County tallied the highest county foreclosure rate in the state for the month, with one in every 915 households receiving a foreclosure filing in during March — 1.6 times the state average. Anchorage County posted the state’s second highest rate, with one in every 976 households receiving a foreclosure filing. Sitka County posted the state’s third highest foreclosure rate, with one in every 1,296 households receiving a foreclosure filing during the month.

 

State makes a minor contribution to nation’s total in March

Total foreclosure filings in Alaska accounted for less than 1 percent of the 234,685 properties with foreclosure filings reported nationwide in March. The national total represents a 5 percent increase from the previous month and is 57 percent ahead of the total reported for March 2007. One in every 538 U.S. households 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 by County – March 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,493

47,677

55,398

23,724

51,393

234,685

538

n/a

n/a

Alaska

0

0

173

0

19

192

1,440

0.37

0

 

 

 

 

 

 

 

 

 

 

Aleutians East

0

0

0

0

0

0

n/a

0.00

0.00

Aleutians West

0

0

0

0

0

0

n/a

0.00

0.00

Anchorage

0

0

102

0

11

113

976

0.55

1.48

Bethel

0

0

2

0

0

2

2,760

0.20

0.52

Bristol Bay

0

0

0

0

0

0

n/a

0.00

0.00

Denali

0

0

0

0

0

0

n/a

0.00

0.00

Dillingham

0

0

0

0

0

0

n/a

0.00

0.00

Fairbanks North Star

0

0

17

0

2

19

1,799

0.30

0.80

Haines

0

0

0

0

0

0

n/a

0.00

0.00

Juneau

0

0

9

0

0

9

1,419

0.38

1.02

Kenai Peninsula

0

0

10

0

1

11

2,303

0.23

0.63

Ketchikan Gateway

0

0

1

0

0

1

6,536

0.08

0.22

Kodiak Island

0

0

0

0

2

2

2,800

0.19

0.51

Lake And Peninsula

0

0

0

0

0

0

n/a

0.00

0.00

Matanuska Susitna

0

0

28

0

3

31

915

0.59

1.57

Nome

0

0

1

0

0

1

3,679

0.15

0.39

North Slope

0

0

0

0

0

0

n/a

0.00

0.00

Northwest Arctic

0

0

0

0

0

0

n/a

0.00

0.00

Prince Wales Ketchikan

0

0

0

0

0

0

n/a

0.00

0.00

Sitka

0

0

3

0

0

3

1,296

0.42

1.11

Skagway Hoonah Angoon

0

0

0

0

0

0

n/a

0.00

0.00

Southeast Fairbanks

0

0

0

0

0

0

n/a

0.00

0.00

Valdez Cordova

0

0

0

0

0

0

n/a

0.00

0.00

Wade Hampton

0

0

0

0

0

0

n/a

0.00

0.00

Wrangell Petersburg

0

0

0

0

0

0

n/a

0.00

0.00

Yakutat

0

0

0

0

0

0

n/a

0.00

0.00

Yukon Koyukuk

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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