ALASKA FORECLOSURE ACTIVITY UP 25 PERCENT IN SEPTEMBER

Filings Statewide Increase 63 Percent From September 2007

 

IRVINE, Calif. – Oct. 27, 2008 – Foreclosure filings were reported on 206 Alaska properties in September, an increase of 25 percent from the previous month and 63 percent above the level reported for September 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.

 

“Foreclosure activity in Alaska was up significantly both in September and from the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although down slightly in September, the state’s unemployment rate was up almost half a percent through the first three quarters of the year and is well above the national average. The state continues to look toward the oil and gas industry for relief while its professional services, construction and housing sectors suffer.”

 

Alaska ranked 43rd in the country in total properties with foreclosure filings for September. One in every 1,343 Alaska households received a foreclosure filing during the month, ranking 32nd among the 50 states.

 

Anchorage Borough tops in foreclosure activity for September

Anchorage Borough led the state in foreclosure activity in September, reporting 96 properties with foreclosure filings. Matanuska Susitna Borough came in second highest, reporting 44 properties with foreclosure filings. Fairbanks North Star Borough ranked third highest, reporting 37 properties with foreclosure filings. Kenai Peninsula Borough came in fourth place, documenting 12 properties with foreclosure filings.

 

Matanuska Susitna Borough reports highest foreclosure rate in September

Matanuska Susitna Borough posted the top foreclosure rate in the state, with one in every 645 households receiving a foreclosure filing during the month — 2.1 times the state average. Second highest rate was reported by Fairbanks North Star Borough, where one in every 924 households received a foreclosure filing — 1.5 times the state average. Third highest rate was registered in Ketchikan Gateway Borough, where one in every 1,089 households received a foreclosure filing — 1.2 times the state average. Anchorage Borough was fourth highest, with one in every 1,148 households receiving a foreclosure filing — 1.2 times the state average.

 

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

Alaska accounted for less than 1 percent of the 265,968 properties with foreclosure filings reported nationwide in September. The national total represents a decrease of more than 12 percent from the previous month but is still 21 percent ahead of the total reported for September 2007. The nation’s foreclosure rate decreased to one in every 475 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 borough, 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 Borough – September 2008

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

39,828

58,606

61,442

24,780

81,312

265,968

475

n/a

n/a

Alaska

1

0

144

0

61

206

1,343

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

65

0

30

96

1,148

0.41

1.17

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

24

0

13

37

924

0.51

1.45

Haines Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Juneau City and Borough

0

0

4

0

1

5

2,554

0.19

0.53

Kenai Peninsula

0

0

8

0

4

12

2,111

0.22

0.64

Ketchikan Gateway Borough

0

0

5

0

1

6

1,089

0.44

1.23

Kodiak Island

0

0

2

0

0

2

2,800

0.17

0.48

Lake and Peninsula Borough

0

0

0

0

0

0

 n/a

0.00

0.00

Matanuska Susitna Borough

0

0

32

0

12

44

645

0.74

2.08

Nome Census Area

0

0

1

0

0

1

3,679

0.13

0.36

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

0.24

0.69

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

0

0

0

0

 n/a

0.00

0.00

Wade Hampton Census Area

0

0

0

0

0

0

 n/a

0.00

0.00

Wrangell Petersburg Census Area

0

0

1

0

0

1

3,418

0.14

0.39

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).

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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