Alaska Foreclosure Activity Increases in August

Filings increase 127 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 386 Alaska properties in August, a 127 percent increase from the previous month and a 56 percent increase from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

Alaska foreclosures more than doubled in August,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in default notices, which climbed 200 percent for the month. Even so, the state still holds one of the 10 lowest total foreclosure numbers in the nation. With its relatively low unemployment rate and above-average home sales, it is likely that we will see foreclosures come down here in the near future.”

 

Alaska ranked 43rd in the nation in total foreclosures reported for the month. Its foreclosure rate of one in every 734 housing units receiving a foreclosure filing during the month, ranked it 28th among the 50 states.

 

Matanuska-Susitna Borough dominates the state in foreclosure rate for August

Foreclosure rates for August were led by Matanuska-Susitna Borough, where one in every 273 housing units received a foreclosure filing during the month. One in every 549 housing units received a foreclosure filing in Ketchikan Gateway Borough, for the second highest rate in the state. Coming in third was Anchorage Municipality, where one in every 622 housing units received a foreclosure filing in August. Fourth highest was Fairbanks North Star Borough, where one in every 844 housing units received a foreclosure filing. Kenai Peninsula came in fifth, with one in every 1,112 housing units receiving a foreclosure filing during the month.

 

Anchorage Municipality posts top foreclosure total for August

Anchorage Municipality led the state in total foreclosure activity for August, reporting 180 properties with foreclosure filings. Matanuska-Susitna Borough documented the second highest foreclosure activity, where 105 properties with foreclosure filings were reported. Fairbanks North Star Borough came in third, tallying 45 properties with foreclosure filings. Fourth highest was Kenai Peninsula, where 23 properties with foreclosure filings were reported. Ketchikan Gateway Borough came in fifth, reporting 12 properties with foreclosure filings for the month.

 

State contributes less than 1 percent to nation’s monthly foreclosure total

Alaska accounted for less than 1 percent of the 338,836 properties with foreclosure filings reported nationwide in August. Total U.S. activity increased by more than 4 percent from the previous month, but was down more than 5 percent from the level reported in August 2009. One in every 381 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 County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

n/a

n/a

Alaska

3

0

252

0

131

386

734

0.52

n/a

 

 

 

 

 

 

 

 

 

 

Matanuska-Susitna

0

0

69

0

36

105

273

1.39

2.69

Ketchikan Gateway

0

0

7

0

5

12

549

0.69

1.34

Anchorage

2

0

131

0

47

180

622

0.61

1.18

Fairbanks North Star

0

0

24

0

21

45

844

0.45

0.87

Kenai Peninsula

0

0

12

0

11

23

1,112

0.34

0.66

 

 

Alaska Top Foreclosure Totals by County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

4.18

-5.48

Alaska

3

0

252

0

131

386

734

127.06

56.28

 

 

 

 

 

 

 

 

 

 

Anchorage

2

0

131

0

47

180

622

133.77

42.86

Matanuska-Susitna

0

0

69

0

36

105

273

238.71

101.92

Fairbanks North Star

0

0

24

0

21

45

844

95.65

55.17

Kenai Peninsula

0

0

12

0

11

23

1,112

53.33

4.55

Ketchikan Gateway

0

0

7

0

5

12

549

300.00

500.00

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved