ALASKA FORECLOSURE ACTIVITY UP 8 PERCENT IN JULY

Foreclosure Activity Increases 144 Percent From July 2007

 

IRVINE, Calif. – Aug. 29, 2008 – Alaska reported 207 properties with foreclosure filings in July, an 8 percent increase from the previous month, and 144 percent ahead of the level reported for July 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‘s unemployment rose in July, increasing from 6.7 percent in June to 6.9 percent in July,” said James J. Saccacio, chief executive officer of RealtyTrac. “Rising unemployment in Alaska is fueling foreclosure activity in the state.”

 

One in every 1,336 Alaska households received a foreclosure filing during the month, ranking 32nd among the 50 states.

 

Anchorage Borough accounts for more than half of state’s activity for July

Anchorage Borough led the state reporting 123 properties with foreclosure filings. Second highest total was in Matanuska Susitna Borough, reporting 38 properties with foreclosure filings. Fairbanks North Star Borough registered the third highest total, reporting 28 properties with foreclosure filings. Kenai Peninsula Borough came in fourth, reporting eight properties with foreclosure filings for the month.

 

Matanuska Susitna Borough posts state’s highest foreclosure rate in July

With one in every 747 households receiving a foreclosure filing in July — 1.8 times the state average and 0.6 times the national average — Matanuska Susitna Borough posted the highest borough foreclosure rate in the state for the month. Second highest rate was in Anchorage Borough, where one in every 896 households received a foreclosure filing — 1.5 times the state average and 0.5 times the national average. Fairbanks North Star Borough had the third highest rate, with one in every 1,220 households receiving a foreclosure filing — 1.1 times the state average and 0.4 times the national average. Fourth highest rate was in Juneau City and Borough, where one in every 2,554 households received a foreclosure filing during the month.

 

State a minor contributor to the nation’s foreclosure total in July

Alaska accounted for less than 1 percent of the 272,171 properties with foreclosure filings reported nationwide in July. The national total represents an increase of almost 8 percent from the previous month and is 55 percent ahead of the total reported for July 2007. One in every 464 U.S. households 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 – July 2008

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

United States

55,601

55,042

57,145

27,088

77,295

272,171

464

n/a

n/a

Alaska

0

0

166

0

41

207

1,336

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

0

0

93

0

30

123

896

0.52

1.49

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

2

28

1,220

0.38

1.09

Haines Borough

0

0

0

0

0

0

n/a

0.00

0.00

Juneau City and Borough

0

0

5

0

0

5

2,554

0.18

0.52

Kenai Peninsula

0

0

4

0

4

8

3,167

0.15

0.42

Ketchikan Gateway Borough

0

0

2

0

0

2

3,268

0.14

0.41

Kodiak Island

0

0

1

0

0

1

5,600

0.08

0.24

Lake and Peninsula Borough

0

0

0

0

0

0

n/a

0.00

0.00

Matanuska Susitna Borough

0

0

33

0

5

38

747

0.62

1.79

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

0

0

0

0

n/a

0.00

0.00

Skagway Hoonah Angoon Census Area

0

0

0

0

0

0

n/a

0.00

0.00

Southeast Fairbanks Census Area

0

0

1

0

0

1

3,338

0.14

0.40

Valdez Cordova Census Area

0

0

1

0

0

1

5,246

0.09

0.25

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).

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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