ALASKA FORECLOSURE ACTIVITY UP 25 PERCENT IN OCTOBER

Foreclosure Activity Increases 2 Percent From October 2007

 

IRVINE, Calif. – Nov. 26, 2008 – Alaska reported 258 properties with foreclosure filings in October, a 25 percent increase from the previous month, and 2 percent ahead of the level reported for October 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.

 

Alaska foreclosures are up slightly in October and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s unemployment rate is still well above the national average. This, is addition to the overall decline in the housing market, is likely contributing to the rise.”

 

Alaska ranked 41st in the country in total foreclosures reported for the month. With one in every 1,072 housing units receiving a foreclosure filing, its foreclosure rate ranked 28th among the 50 states.

 

Five counties dominate state’s foreclosure activity for October

Five Alaska counties accounted for 99 percent of all foreclosure activity in the state for October. Anchorage County reported the highest foreclosure total with 153 properties with foreclosure filings for the month. Matanuska Susitna County documented the state’s second highest foreclosure total, reporting 52 properties with foreclosure filings. Third highest was Fairbanks North Star County, reporting 32 properties with foreclosure filings. Kenai Peninsula County came in fourth place, documenting nine properties with foreclosure filings, followed by Ketchikan Gateway County with five properties with foreclosure filings.

 

Matanuska Susitna County posts top foreclosure rate for October

Matanuska Susitna County tallied the highest county foreclosure rate in Alaska for October, with one in every 546 housing units receiving a foreclosure filing for the month — twice the state average. Anchorage County posted the state’s second highest foreclosure rate, with one in every 721 housing units receiving a foreclosure filing during the month — 1.5 times the state average. Fairbanks North Star County reported the third highest foreclosure rate in the state, where one in every 1,068 housing units received a foreclosure filing in October.

 

State accounts for less than 1 percent of nation’s foreclosure total in October

Alaska accounted for less than 1 percent of the 279,561 properties with foreclosure filings reported nationwide in October. The national total represented an increase of more than 5 percent from the previous month but was almost 25 percent ahead of the total reported for October 2007. The nation’s foreclosure rate rose to one in every 452 U.S. housing units 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 – October 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

United States

36,036

66,033

66,319

26,305

84,868

279,561

452

n/a

n/a

Alaska

2

0

156

0

100

258

1,072

0.42

n/a

 

 

 

 

 

 

 

 

 

Aleutians East

0

0

0

0

0

0

 n/a

0.00

0.00

Aleutians West

0

0

0

0

0

0

 n/a

0.00

0.00

Anchorage

2

0

70

0

81

153

721

0.63

1.49

Bethel

0

0

0

0

0

0

 n/a

0.00

0.00

Bristol Bay

0

0

0

0

0

0

 n/a

0.00

0.00

Denali

0

0

0

0

0

0

 n/a

0.00

0.00

Dillingham

0

0

0

0

1

1

2,429

0.19

0.44

Fairbanks North Star

0

0

26

0

6

32

1,068

0.42

1.00

Haines

0

0

0

0

0

0

 n/a

0.00

0.00

Juneau

0

0

4

0

0

4

3,193

0.14

0.34

Kenai Peninsula

0

0

8

0

1

9

2,815

0.16

0.38

Ketchikan Gateway

0

0

5

0

0

5

1,307

0.35

0.82

Kodiak Island

0

0

0

0

0

0

 n/a

0.00

0.00

Lake and Peninsula

0

0

0

0

0

0

 n/a

0.00

0.00

Matanuska-Susitna

0

0

41

0

11

52

546

0.83

1.96

Nome

0

0

0

0

0

0

 n/a

0.00

0.00

North Slope

0

0

0

0

0

0

 n/a

0.00

0.00

Northwest Arctic

0

0

0

0

0

0

 n/a

0.00

0.00

Prince of Wales – Outer Ketchikan

0

0

1

0

0

1

3,215

0.14

0.33

Sitka

0

0

0

0

0

0

 n/a

0.00

0.00

Skagway-Hoonah -Angoon

0

0

0

0

0

0

 n/a

0.00

0.00

Southeast Fairbanks

0

0

0

0

0

0

 n/a

0.00

0.00

Valdez-Cordova

0

0

0

0

0

0

 n/a

0.00

0.00

Wade Hampton

0

0

0

0

0

0

 n/a

0.00

0.00

Wrangell-Petersburg

0

0

1

0

0

1

3,418

0.13

0.31

Yakutat

0

0

0

0

0

0

 n/a

0.00

0.00

Yukon-Koyukuk

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

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