ALASKA FORECLOSURE ACTIVITY UP 12 PERCENT IN JUNE

Activity Up 143 Percent From a Year Ago

 

IRVINE, Calif. – July 30, 2008 – Alaska reported 192 properties with foreclosure filings in June, a 12 percent increase from the previous month and 143 percent above the level reported for June 2007, 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 1.5 million properties from over 2,200 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.

 

“Foreclosures are up in Alaska both in June and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state has held one of the highest unemployment rates in the country, and along with a declining housing market, it is easy to see why the overall rise in foreclosures is occurring.”

 

Alaska ranked 43rd in the country in total foreclosures for the month. With one in every 1,440 households receiving a foreclosure filing, its foreclosure rate ranked 31st among the 50 states.

 

Top five boroughs responsible for bulk of state’s foreclosure activity

Five Alaska counties accounted for 98 percent of all foreclosure activity in the state for June. Anchorage Municipality led the way by a wide margin, reporting 100 properties with foreclosure filings for the month. Matanuska Susitna Borough came in second, documenting 44 properties with foreclosure filings. Fairbanks North Star Borough had the third highest total, reporting 27 properties with foreclosure filings. Fourth highest total was in Kenai Peninsula, where 11 properties with foreclosure filings were reported. Juneau City and Borough came in fifth, reporting six properties with foreclosure filings.

 

Matanuska Susitna Borough posts top foreclosure rate for June

Matanuska Susitna Borough tallied the highest county foreclosure rate in the state for June, with one in every 645 households receiving a foreclosure filing for the month — 2.2 times the state average. Anchorage Municipality posted the state’s second highest rate, with one in every 1,103 households receiving a foreclosure filing during the month — 1.3 times the state average. The third highest rate in the state was reported in Fairbanks North Star Borough, where one in every 1,266 households received a foreclosure filing in June — 1.1 times the state average.

 

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

Alaska accounted for less than 1 percent of the 252,363 properties with foreclosure filings reported nationwide in June. The national total represents more than a 3 percent decrease from the previous month and is 53 percent ahead of the total reported for June 2007. The nation’s foreclosure rate decreased to one in every 501 U.S. households receiving a foreclosure filing during the month.

 

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 Foreclosure Market Data by County – June 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

United States

53,544

48,996

53,904

24,356

71,563

252,363

501

n/a

n/a

Alaska

1

0

167

0

24

192

1,440

0.35

n/a

 

 

 

 

 

 

 

 

 

Aleutians East Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Aleutians West Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

Anchorage Municipality

1

0

82

0

17

100

1,103

0.45

1.31

Bethel Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

Bristol Bay Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Denali Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Dillingham Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

Fairbanks North Star Borough

0

0

26

0

1

27

1,266

0.40

1.14

Haines Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Juneau City and Borough

0

0

6

0

0

6

2,129

0.24

0.68

Kenai Peninsula

0

0

8

0

3

11

2,303

0.22

0.63

Ketchikan Gateway Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Kodiak Island

0

0

0

0

1

1

5,600

0.09

0.26

Lake and Peninsula Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Matanuska Susitna Borough

0

0

42

0

2

44

645

0.78

2.23

Nome Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

North Slope Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Northwest Arctic Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Prince Wales Ketchikan Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

Sitka City and Borough

0

0

2

0

0

2

1,945

0.26

0.74

Skagway Hoonah Angoon Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

Southeast Fairbanks Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

Valdez Cordova Census Area

0

0

1

0

0

1

5,246

0.10

0.27

Wade Hampton Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

Wrangell Petersburg Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

Yakutat City and Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Yukon Koyukuk Census Area

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).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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