ALASKA FORECLOSURE ACTIVITY INCREASES 8 PERCENT IN JULY

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Activity Up 2 Percent From July 2006

 

IRVINE, Calif. – Aug. 24, 2007 – Alaska reported 85 foreclosure filings in July, an 8 percent increase from the previous month and 2 percent above the number reported in July 2006, 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.

 

“Foreclosure activity in Alaska is up slightly, both compared to one month earlier and to the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Two factors that are contributing to this increase in activity are the state’s unemployment rate, which remains well above the national average, and home price appreciation which has slowed down but is still positive.”

 

Alaska ranked 43rd in the country in total foreclosure filings reported for July. The state’s foreclosure rate of one new foreclosure filing for every 3,226 households ranked 36th among the 50 states.

 

Anchorage County leads state in foreclosure activity

Anchorage County reported 37 foreclosure filings, the most of any county in the state for July. Matanuska Susitna County was second, reporting 25 filings for the month. Fairbanks North Star reported the third highest county total with 14 filings in the foreclosure pipeline.

 

Highest foreclosure rate reported in Matanuska Susitna County

With a rate of one foreclosure filing for every 1,126 households — 2.9 times the state average — Matanuska Susitna County reported the highest county foreclosure rate in the state for July. Fairbanks North Star County posted the second highest rate, one foreclosure filing for every 2,432 households— 1.3 times the state average. Anchorage County posted the third highest foreclosure rate, one foreclosure filing for every 2,940 households — 1.1 times the state average.

 

State a minor contributor to nation’s monthly total

Total foreclosure filings in Alaska accounted for less than 1 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 693 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                          Alaska Foreclosure Market by County – July 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

Alaska

0

80

0

0

5

85

3,226

0.21

n/a

 

 

 

 

 

 

 

 

 

 

Anchorage

0

36

0

0

1

37

2,940

0.24

1.10

Fairbanks North Star

0

13

0

0

1

14

2,432

0.29

1.33

Kenai Peninsula

0

6

0

0

1

7

3,604

0.19

0.90

Ketchikan Gateway

0

1

0

0

0

1

6,533

0.11

0.49

Kodiak Island

0

1

0

0

0

1

5,559

0.12

0.58

Matanuska Susitna

0

23

0

0

2

25

1,126

0.62

2.87

Sitka

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).

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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