Alaska Foreclosure Activity Rises in Third Quarter

Total foreclosure filings up 30 percent from Q2; up 36 percent from Q3 2008.

 

Alaska reported 764 properties with foreclosure filings in the third quarter of 2009, an increase of 30 percent from the previous quarter and 36 percent above the level reported in the third quarter of 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. 

 

Foreclosure activity in Alaska was down 9 percent in September from the previous month to 225 properties with foreclosure filings, but still up 9 percent from September 2008. One in every 1,254 housing units received a foreclosure filing during the month, the ranking 38th among the 50 states.

 

“Foreclosure activity rose again in Alaska in the third quarter of 2009, even as home prices within the state remained relatively intact,” said James J. Saccacio, chief executive officer of RealtyTrac. “At least part of this can be explained by unemployment which has remained above 8 percent since May.”

 

One in every 369 Alaska housing units received a foreclosure filing during the third quarter, ranking 33rd among the 50 states.

 

Matanuska Susitna Borough posts state’s top foreclosure rate in third quarter

With one in every 147 housing units receiving a foreclosure filing — 2.5 times the state average — Matanuska Susitna Borough posted the highest borough foreclosure rate in the state for the third quarter. Anchorage Municipality came in second, with one in every 319 housing units receiving a foreclosure filing during the quarter — 1.2 times the state average. Third highest rate was posted by Fairbanks North Star Borough, where one in every 348 housing units received a foreclosure filing — 1.1 times the state average.

 

Anchorage Municipality leads state in foreclosure activity in the third quarter

Anchorage Municipality led the state in foreclosure activity, reporting 349 properties with foreclosure filings for the quarter. Matanuska Susitna Borough had the second highest total, reporting 194 properties with foreclosure filings. Fairbanks North Star Borough came in third, tallying 109 properties with foreclosure filings. Fourth highest for the quarter was Kenai Peninsula Borough, reporting 51 properties with foreclosure filings. Juneau City and Borough documented 28 properties with foreclosure filings, the state’s fifth highest foreclosure total in the quarter.

 

State a minor contributor to nation’s foreclosure activity for quarter and month

Alaska accounted for less than 1 percent of the 937,840 properties with foreclosure filings reported nationwide for the third quarter and less than 1 percent of the 343,638 properties with foreclosure filings reported for September. Total U.S. activity declined 5.4 percent between the second and third quarter of the year, but was up 23 percent from the third quarter of 2008. One in every 136 U.S. housing units received a foreclosure filing during the quarter, the highest quarterly foreclosure rate since RealtyTrac began issuing its report in 2005.

 

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 Top Foreclosure Rates By Borough – Q3 2009

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

153,255

188,986

263,957

94,590

237,052

937,840

136

n/a

n/a

Alaska

9

0

534

0

221

764

369

0.37

n/a

 

 

 

 

 

 

 

 

 

 

Matanuska Susitna Borough

2

0

140

0

52

194

147

0.93

2.51

Anchorage Municipality

1

0

244

0

104

349

319

0.43

1.16

Fairbanks North Star Borough

1

0

71

0

37

109

348

0.39

1.06

Haines Borough

4

0

0

0

0

4

381

0.36

0.97

Juneau City and Borough

1

0

20

0

7

28

459

0.30

0.80

 

 

Alaska Top Foreclosure Totals by Borough – Q3 2009

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q2 09

% Chg Q3 08

 

 

 

 

 

 

 

 

 

 

United States

153,255

188,986

263,957

94,590

237,052

937,840

136

5.40

22.50

Alaska

9

0

534

0

221

764

369

29.93

36.43

 

 

 

 

 

 

 

 

 

 

Anchorage Municipality

1

0

244

0

104

349

319

35.27

21.60

Matanuska Susitna Borough

2

0

140

0

52

194

147

49.23

48.09

Fairbanks North Star Borough

1

0

71

0

37

109

348

13.54

26.74

Kenai Peninsula

0

0

36

0

15

51

499

10.87

96.15

Juneau City and Borough

1

0

20

0

7

28

459

-6.67

180.00

 

 

Alaska Top Foreclosure Rates By Borough – Sept 2009

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

56,979

65,186

97,925

35,727

87,821

343,638

372

n/a

n/a

Alaska

4

0

165

0

56

225

1,254

0.30

n/a

 

 

 

 

 

 

 

 

 

 

Matanuska-Susitna Borough

2

0

46

0

13

61

469

0.79

2.68

Haines Borough

2

0

0

0

0

2

761

0.49

1.65

Fairbanks North Star Borough

0

0

29

0

10

39

973

0.38

1.29

Anchorage

0

0

74

0

25

99

1,125

0.33

1.11

Kenai Peninsula

0

0

9

0

3

12

2,123

0.18

0.59

 

 

Alaska Top Foreclosure Totals by Borough – Sept 2009

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Aug 09

% Chg Sept 08

 

 

 

 

 

 

 

 

 

 

United States

56,979

65,186

97,925

35,727

87,821

343,638

372

-4.14

29.20

Alaska

4

0

165

0

56

225

1,254

-8.91

9.22

 

 

 

 

 

 

 

 

 

 

Anchorage Municipality

0

0

74

0

25

99

1,125

-21.43

3.13

Matanuska-Susitna Borough

2

0

46

0

13

61

469

17.31

38.64

Fairbanks North Star Borough

0

0

29

0

10

39

973

34.48

5.41

Kenai Peninsula

0

0

9

0

3

12

2,123

-45.45

0.00

Juneau City and Borough

0

0

4

0

1

5

2,571

-58.33

0.00

 

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