ALASKA FORECLOSURE ACTIVITY UP 5 PERCENT IN APRIL

Activity Level Up 62 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 236 Alaska properties in April, a 5 percent increase from the previous month and 62 percent above the level reported for April 2008, 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 were up slightly in Alaska for April,” said James J. Saccacio, chief executive officer of RealtyTrac. “While the state’s unemployment rate remains on par with the national average, it has been on the rise and jumped more than a half percent in March alone. This is at least one contributing factor to the overall rise in foreclosure activity.”

 

Alaska ranked 42nd in the country in total foreclosures for the month. With one in every 1,196 housing units receiving a foreclosure filing, its foreclosure rate ranked 32nd among the 50 states.

 

Five boroughs account for bulk of state foreclosure activity in April

Five Alaska boroughs accounted for 95 percent of all foreclosure activity in Alaska for April. Anchorage Municipality led the way, reporting 109 properties with foreclosure filings for the month. Matanuska-Susitna Borough reported 58 properties with foreclosure filings, the state’s second highest county total.  Fairbanks North Star Borough came in third highest, reporting 36 properties with foreclosure filings. Kenai Peninsula came in fourth, documenting 17 properties with foreclosure filings, while the fifth highest total was documented in Juneau City and Borough, where five properties with foreclosure filings were reported for the month.

 

Matanuska-Susitna Borough posts state’s highest foreclosure rate for April

With one in every 493 housing units receiving a foreclosure filing for April — 2.4 times the state average — Matanuska-Susitna Borough had the highest foreclosure rate in the state. Lake and Peninsula Borough had the second highest rate, with one in every 793 housing units receiving a foreclosure filing — 1.5 times the state average. Third highest rate was documented in Anchorage Municipality, where one in every 1,022 housing units received a foreclosure filing during the month — 1.2 times the state average.

 

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

Alaska accounted for less than 1 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 U.S. housing units received 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 Borough – April 2009

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

Alaska

1

0

190

0

45

236

1,196

5.36

61.64

 

 

 

 

 

 

 

 

 

 

Aleutians East Borough

0

0

0

0

0

0

 n/a

 n/a

 n/a

Aleutians West Census Area

0

0

0

0

0

0

 n/a

 n/a

 n/a

Anchorage Municipality

0

0

95

0

14

109

1,022

2.83

18.48

Bethel Census Area

0

0

2

0

0

2

2,784

100.00

 n/a

Bristol Bay Borough

0

0

0

0

0

0

 n/a

 n/a

 n/a

Denali Borough

0

0

0

0

0

0

 n/a

 n/a

 n/a

Dillingham Census Area

0

0

0

0

0

0

 n/a

 n/a

-100.00

Fairbanks North Star Borough

1

0

22

0

13

36

1,054

5.88

260.00

Haines Borough

0

0

0

0

0

0

 n/a

 n/a

 n/a

Juneau City and Borough

0

0

4

0

1

5

2,571

-50.00

66.67

Kenai Peninsula

0

0

13

0

4

17

1,498

70.00

1,600.00

Ketchikan Gateway Borough

0

0

1

0

1

2

3,280

0.00

 n/a

Kodiak Island

0

0

1

0

0

1

5,623

-50.00

0.00

Lake and Peninsula Borough

0

0

0

0

2

2

793

 n/a

 n/a

Matanuska Susitna Borough

0

0

49

0

9

58

493

3.57

56.76

Nome Census Area

0

0

0

0

0

0

 n/a

-100.00

-100.00

North Slope Borough

0

0

0

0

0

0

 n/a

 n/a

 n/a

Northwest Arctic Borough

0

0

0

0

0

0

 n/a

 n/a

 n/a

Prince Wales Ketchikan Census Area

0

0

1

0

0

1

3,250

 n/a

 n/a

Sitka City and Borough

0

0

1

0

1

2

1,965

100.00

 n/a

Skagway Hoonah Angoon Census Area

0

0

0

0

0

0

 n/a

 n/a

 n/a

Southeast Fairbanks Census Area

0

0

0

0

0

0

 n/a

 n/a

 n/a

Valdez Cordova Census Area

0

0

1

0

0

1

5,253

 n/a

 n/a

Wade Hampton Census Area

0

0

0

0

0

0

 n/a

 n/a

 n/a

Wrangell Petersburg Census Area

0

0

0

0

0

0

 n/a

-100.00

 n/a

Yakutat City and Borough

0

0

0

0

0

0

 n/a

 n/a

 n/a

Yukon Koyukuk Census Area

0

0

0

0

0

0

 n/a

 n/a

 n/a

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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