Alaska Foreclosure Activity Increases in February

Statewide filings up 4 percent from January; up 62 percent from year ago

 

Foreclosure activity in Alaska rose in February to 328 properties with foreclosure filings, a 4 percent increase from the previous month and 62 percent above the level reported in February 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity in Alaska was up slightly in February,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in auctions, which climbed 11 percent for the month. Even so, the state has less activity than most of the country. Relatively low unemployment and a huge spike in home sales last quarter are definitely helping to keep foreclosure activity in check.”

 

Alaska ranked 42nd in the country in total foreclosures for the month. With one in every 864 housing units receiving a foreclosure filing, its foreclosure rate ranked 28th among the 50 states.

 

Matanuska Susitna Borough posts top foreclosure rate in the state for February

With one in every 338 housing units receiving a foreclosure filing — 1.2 times the national average and 2.6 times the state average — Matanuska Susitna Borough posted the state’s highest borough foreclosure rate in February. Haines Borough was second, with one in every 510 housing units receiving a foreclosure filing — 1.7 times the state average. Anchorage Municipality came in third highest, with one in every 773 housing units receiving a foreclosure filing — 1.1 times the state average.

 

Anchorage Borough leads state in total foreclosures for February

Anchorage Borough led the state in foreclosure activity for February, totaling 145 properties with foreclosure filings. Matanuska Susitna Borough was second, documenting 85 properties with foreclosure filings. Reporting 48 properties with foreclosure filings for the month, Fairbanks North Star Borough ranked third highest. Kenai Peninsula Borough came in fourth place, reporting 20 properties with foreclosure filings, while Juneau City and Borough came in fifth place, reporting 12 properties with foreclosure filings.

 

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

Alaska accounted for less than 1 percent of the 308,524 properties with foreclosure filings reported nationwide in February. Total U.S. activity declined more than 2 percent from the previous month but was still 6 percent ahead of February 2009. One in every 418 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 – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

n/a

n/a

Alaska

2

0

197

0

129

328

864

0.48

n/a

 

 

 

 

 

 

 

 

 

 

Matanuska Susitna Borough

0

0

50

0

35

85

338

1.24

2.56

Haines Borough

2

0

0

0

1

3

510

0.82

1.69

Anchorage Municipality

0

0

92

0

53

145

773

0.54

1.12

Fairbanks North Star Borough

0

0

28

0

20

48

792

0.53

1.09

Juneau City and Borough

0

0

6

0

6

12

1,074

0.39

0.80

 

 

 

Alaska Top Foreclosure Totals by Borough – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

% Chg

Jan 10

% Chg

Feb 09

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

-2.28

6.22

Alaska

2

0

197

0

129

328

864

4.46

61.58

 

 

 

 

 

 

 

 

 

 

Anchorage Municipality

0

0

92

0

53

145

773

-10.49

93.33

Matanuska Susitna Borough

0

0

50

0

35

85

338

41.67

51.79

Fairbanks North Star Borough

0

0

28

0

20

48

792

4.35

-5.88

Kenai Peninsula

0

0

10

0

10

20

1,279

-4.76

25.00

Juneau City and Borough

0

0

6

0

6

12

1,074

-29.41

n/a

 

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