Alaska Foreclosure Activity Increases in 2009

Statewide filings up 25 percent from 2008; Up 55 percent from November

 

Alaska tallied 2,442 properties with foreclosure filings in 2009, a 25 percent increase from the total reported for 2008, and 83 percent higher than the level reported for all of 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Reporting 421 properties with foreclosure filings for December, Alaska had a 55 percent increase from the previous month, and was 47 percent above December 2008. The state’s foreclosure rate — one in every 670 housing units received a foreclosure filing – ranked 24th  in the nation for the month.

 

Alaska foreclosures were up in 2009 and for the month of December,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, the state’s unemployment rate is still below the national average. If home sales begin to pick up, we may see foreclosures start to decline here in 2010.”

 

Alaska ranked 43rd in total foreclosures for 2009 when compared to the 50 states. With one in every 116 housing units receiving a foreclosure filing, Alaska’s foreclosure rate ranked 31st in the nation for the year.

 

Matanuska-Susitna Borough posted state’s highest foreclosure rate for 2009

With one in every 49 housing units receiving a foreclosure filing in 2009, Matanuska-Susitna Borough posted the highest borough foreclosure rate in the state for the year. Anchorage Municipality had the second highest rate, with one in every 99 housing units receiving a foreclosure filing. Fairbanks North Star Borough came in third highest, with one in every 112 housing units receiving a foreclosure filing. Juneau City and Borough was fourth highest with one in every 133 housing units receiving a foreclosure filing, followed closely by Kenai Peninsula, where one in every 134 housing units received a foreclosure filing during the year.

 

Anchorage Borough led state in total foreclosure filings for 2009

Reporting a total of 1,127 properties with foreclosure filings for the year, Anchorage Municipality led the state in total foreclosures in 2009. Matanuska-Susitna Borough came in second, documenting 583 properties with foreclosure filings. Reporting 338 properties with foreclosure filings for the year, Fairbanks North Star Borough had the third highest total in the state. Kenai Peninsula was fourth highest, reporting 190 properties with foreclosure filings, followed by Juneau City and Borough in fifth place, tallying 97 properties with foreclosure filings for all of 2009.

 

State a minor contributor to nation’s foreclosure total in 2009

Alaska accounted for less than 1 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

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, Borough 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: Year-End 2009

 

Borough

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Alaska

2,442

0.87

116

25.49

83.33

 

 

 

 

 

 

Matanuska-Susitna Borough

583

2.04

49

16.60

94.98

Anchorage Municipality

1,127

1.01

99

15.00

60.77

Fairbanks North Star Borough

338

0.89

112

40.83

103.61

Juneau City and Borough

97

0.75

133

115.56

110.87

Kenai Peninsula

190

0.75

134

93.88

153.33

 

 

Alaska Top Foreclosure Totals by Borough: Year-End 2009

 

Borough

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Alaska

2,442

0.87

116

25.49

83.33

 

 

 

 

 

 

Anchorage Municipality

1,127

1.01

99

15.00

60.77

Matanuska-Susitna Borough

583

0.89

112

16.60

94.98

Fairbanks North Star Borough

338

2.04

49

40.83

103.61

Kenai Peninsula

190

0.75

134

93.88

153.33

Juneau City and Borough

97

0.75

133

115.56

110.87

 

 

Alaska Top Foreclosure Rates by Borough – December 2009

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

Alaska

0

0

294

0

127

421

670

0.55

n/a

 

 

 

 

 

 

 

 

 

 

Matanuska-Susitna Borough

0

0

77

0

31

108

265

1.38

2.53

Anchorage Municipality

0

0

137

0

60

197

565

0.65

1.19

North Slope

0

0

4

0

0

4

679

0.54

0.99

Juneau City and Borough

0

0

12

0

5

17

756

0.48

0.89

Kenai Peninsula

0

0

24

0

9

33

772

0.47

0.87

 

 

Alaska Top Foreclosure Totals by Borough – December 2009

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

Alaska

0

0

294

0

127

421

670

54.78

46.69

 

 

 

 

 

 

 

 

 

 

Anchorage Municipality

0

0

137

0

60

197

565

66.95

45.93

Matanuska-Susitna Borough

0

0

77

0

31

108

265

74.19

20.00

Fairbanks North Star Borough

0

0

29

0

17

46

825

15.00

21.05

Kenai Peninsula

0

0

24

0

9

33

772

37.50

230.00

Juneau City and Borough

0

0

12

0

5

17

756

13.33

70.00

 

 

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